Thu.Jul 15, 2021

article thumbnail

Mortgage credit drops to lowest level since September

Housing Wire

Mortgage credit availability dipped 8.5% in June to 118.8 — indicating that lending standards are tightening, per the Mortgage Bankers Association’s Mortgage Credit Availability Index. It’s the lowest MCAI level — which uses 100 as a benchmark — since September of 2020, and ends more than six months of increasing credit supply, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Mortgage credit has not recovered since the sharp dow

Mortgage 446
article thumbnail

Homebuyers Seek a Piece of the Shrinking Pie

Appraisal Buzz

Competition remains strong among buyers, as a new analysis reveals homes spent 30% fewer days on the market in June year-over-year, highlighting continued competition amongst buyers. The post Homebuyers Seek a Piece of the Shrinking Pie appeared first on theMReport.com. The post Homebuyers Seek a Piece of the Shrinking Pie appeared first on Appraisal Buzz.

Buyers 370
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Making the dream of homeownership a reality for underserved communities

Housing Wire

The journey to homeownership can be rewarding, but also challenging. For some aspiring homeowners in underserved communities, the process may be even harder to navigate. Residents in these communities may be less likely to possess generational wealth to put toward a down payment, or may not have a family history of homeownership. Oneka Davis always dreamed of owning her own home.

Clients 391
article thumbnail

Embracing the American Dream Electronically

Appraisal Buzz

Homebuyers shared their perspectives on buying a home digitally in a recent survey by Fannie Mae, with an overwhelming share upholding the traditional face-to-face transaction. The post Embracing the American Dream Electronically appeared first on DSNews. The post Embracing the American Dream Electronically appeared first on Appraisal Buzz.

Appraisal 370
article thumbnail

Remodeling Industry Confidence Improves Year over Year

Eyes on Housing

The National Association of Home Builders (NAHB) released its Remodeling Market Index (RMI) for the second quarter, posting a reading of 87, up 14 points from the second quarter of 2020. The increase in the index is a sign of improving remodelers’ confidence in their markets, for projects of all sizes. The RMI is an average of two major component.

Marketing 167
article thumbnail

The Gradual Shift to Digital Mortgages

Appraisal Buzz

Fannie Mae reports that while homebuyers embraced the digital mortgage process throughout the pandemic, the move to all-digital isn’t likely to happen overnight. The post The Gradual Shift to Digital Mortgages appeared first on theMReport.com. The post The Gradual Shift to Digital Mortgages appeared first on Appraisal Buzz.

Mortgage 370

More Trending

article thumbnail

Relief in Sight for a Housing Market Short on Supply

Appraisal Buzz

A new study has found the gap between net new listings and the number of listings under contract is slowly narrowing, signaling an easing of home supply constraints. The post Relief in Sight for a Housing Market Short on Supply appeared first on DSNews. The post Relief in Sight for a Housing Market Short on Supply appeared first on Appraisal Buzz.

article thumbnail

How to Improve Employee Scheduling with Digital Forms

GoForrmz

Simplify the collection of timesheets, time-off requests, and other employee scheduling requests with digital and online forms Scheduling employee time off can be tricky when relying on paper forms and PDFs to collect requests. Between PTO requests , sick time, maternity and paternity leave, and holidays, it can be difficult to efficiently manage incoming requests and scheduling.

article thumbnail

GSE Says Market Will Remain Strong Through Year-End, Enter 2022 a Bit Softer

Appraisal Buzz

According to Freddie Mac’s Quarterly Forecast, low mortgage rates are expected to increase only gradually later this year, leading the GSE to forecast that the housing and mortgage market will remain strong through 2021. “As the economy continues to mend, the housing market remains strong even as certain obstacles have begun to slow sales across the country,” says Sam Khater, Freddie Mac’s chief economist.

Marketing 195
article thumbnail

Share of Non-Conventional Financing Hold Steady in 2020

Eyes on Housing

NAHB analysis of the 2020 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 34.4% of the market, while conventional financing dominated the market at 65.6%. In 2019, share of non-conventional financing was 35.0% of the market while conventional financing accounted for 65.0% of the market share.

Finance 88
article thumbnail

Marinosci Law Group Promotes Two to Key Roles

Appraisal Buzz

Default servicing firm names new President and General Counsel to further expand its footprint in 21 states nationwide. The post Marinosci Law Group Promotes Two to Key Roles appeared first on DSNews. The post Marinosci Law Group Promotes Two to Key Roles appeared first on Appraisal Buzz.

Law 195
article thumbnail

Does the Primary Bathroom Still Need a Tub?

Empire Appraisal Group

Does the Primary Bathroom Still Need a Tub? Article Source: Does the Primary Bathroom Still Need a Tub? | Realtor Magazine. Many buyers may be unlikely to purchase a home without a bathtub even though renovation trends are moving toward fancy, supersized showers. Seventy-four percent of recent and prospective buyers say they want a shower stall and tub, while 36% call a tub “essential,” according to the National Association of Home Builders’ annual What Home Buyers Really Want survey.

article thumbnail

Mortgage Rates Slide for the Third Consecutive Week

Appraisal Buzz

Rates drop even further below 3%, as more are taking advantage of both purchase and refi opportunities with rates in continued record-low territories. The post Mortgage Rates Slide for the Third Consecutive Week appeared first on theMReport.com. The post Mortgage Rates Slide for the Third Consecutive Week appeared first on Appraisal Buzz.

Mortgage 195
article thumbnail

Is House Hacking Right for You? Ask Yourself These 4 Questions First

BiggerPockets

House hacking has a simple yet effective strategy. You buy a property, move into it, rent out the accompanying units, and start living for free. Or, at least, it seems that simple on the surface. Because of this, there are some serious questions to ask yourself before house hacking.

article thumbnail

FEMA Designates $700 Million in Hazard Mitigation

Appraisal Buzz

New programs will provide funding to areas for eligible mitigation activities to reduce disaster losses and protect properties from climate damage. The post FEMA Designates $700 Million in Hazard Mitigation appeared first on DSNews. The post FEMA Designates $700 Million in Hazard Mitigation appeared first on Appraisal Buzz.

Design 195
article thumbnail

BiggerPockets Money Podcast 214: Finance Friday: Fighting Cancer, Starting a Family, & “Planting Seeds”

BiggerPockets

It’s hard to imagine what someone is going through once they’re given a cancer diagnosis. The last thing many people want to think about during such a troubling time is […].

Finance 70
article thumbnail

Technology in Appraisal Industry with Vlad Bien-Aime

Appraisal Buzz

In today’s Buzzcast, we dive into how technology has changed within the appraisal industry, where it seems to be headed, and the benefits of emerging tech today. Today we have Vlad Bien-Aime, President and CEO of Global DMS, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while Joan and Vlad discuss the influence and impact that technology has on the industry.

article thumbnail

Yes, Landscaping Does Add Value To Your Home

Lamacchia Realty

YES, LANDSCAPING DOES. ADD VALUE TO YOUR HOME. You wouldn’t leave your house in sweats for a job interview, would you? Landscaping can make a good or bad first impression on potential home buyers, guests, and neighbors. Unpruned shrubs, unattended vines, peeling paint, and patches of brown dying grass are unsightly and detract from the overall look and feel of your property.

Design 69
article thumbnail

ATTOM: Historically High Serious Delinquencies, Historically Low Foreclosure Activity

Appraisal Buzz

ATTOM’s Midyear 2021 U.S. Foreclosure Market Report shows there were a total of 65,082 U.S. properties with foreclosure filings in the first six months of 2021, which is down 61 percent from the same time period a year ago and down 78 percent from the same time period two years ago. “The government’s foreclosure moratorium and mortgage forbearance program have created an unprecedented situation – historically high numbers of seriously delinquent loans and historically.

article thumbnail

Chapter 7 Vs. Chapter 13 Bankruptcy: Everything You Need To Know

Quicken Loans

Have you ever taken on serious debt and felt like you’re in over your head, simply based on your inability to pay your bills? Whether you’ve had a gap in employment, been buried by medical bills or taken on too much consumer debt, sometimes it can seem as though there’s no way out of your plight. If you’ve already explored other avenues of tackling your debt such as refinancing your mortgage or taking on a second job, it may seem that a bankruptcy could be your only option.

Tools 66
article thumbnail

MBA: Mortgage Credit Availability Decreased Last Month

Appraisal Buzz

According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) report for June, mortgage credit availability decreased, as evidenced by an 8.5 percent drop in the MCAI, to 118.8. The data, which are gleaned from Ellie Mae’s AllRegs Market Clarity tool, show that the conventional MCAI decreased 17.1 percent, while the government MCAI decreased by 1.4 percent.

Mortgage 195
article thumbnail

What Is a Good Cap Rate for Rental Property in 2021: Traditional vs Airbnb

Mashvisor

In real estate investing, doing your due diligence is crucial to minimizing risk and maximizing returns.

article thumbnail

Analysis: Prevailing environment ideal for variable-rate products in Canada

Mortgagebroker News

The Bank of Canada's rates are likely to remain static for the next 12 months or so, observers say

72
article thumbnail

How Will the Housing Boom Affect My Appraisal?

AmeriMac

Housing sales in the greater Columbus area have soared by 18.4 percent over the last two years and the average sale price is currently more than $200,000. This dramatic increase in value affects home appraisals, which is good news for both buyers and sellers. Neighborhood sales of comparable homes, known as “comps” in the real estate industry, is a key component used to figure fair market value of a property.

article thumbnail

Keeping up with mortgage volumes: Simplify processes with automation

Mortgagebroker News

Avoid common errors in real estate transactions with unique appraisal methods

article thumbnail

Freddie Mac now forecasts $3.9T in originations in 2021

Housing Wire

The low mortgage rates that propelled the housing market throughout the COVID-19 pandemic will rise later in the year, but they’ll do so gradually, Freddie Mac said Thursday in its quarterly outlook. That will give more homeowners a final opportunity to refinance their mortgages. The gradual rate climb has led Freddie’s economists to increase their projections on mortgage origination volume this year.

article thumbnail

Analysis: Prevailing environment ideal for variable-rate products in Canada

Mortgagebroker News

The Bank of Canada's rates are likely to remain static for the next 12 months or so, observers say

69
article thumbnail

Homebuilders urge Congress to address inventory crisis

Housing Wire

Hampered by labor shortages, rising material costs and government regulation , homebuilders are looking to Congress for ways to decrease the estimated “under-building gap” of 5.5 million homes and help with housing affordability. The National Association of Home Builders (NAHB) is joining the National Association of Realtors (NAR) in its bid to rectify the tremendous housing shortage in the U.S.

Inventory 453
article thumbnail

Analysis: Prevailing environment ideal for variable-rate products in Canada

Mortgagebroker News

The Bank of Canada's rates are likely to remain static for the next 12 months or so, observers say

69
article thumbnail

Morty announces $25 million Series B funding

Housing Wire

Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. Morty’s marketplace has processed more than $500 million in loans in the past 12 months, and saw revenue grow 800% year over year. The company is currently licensed in 36 states and Washington D.C., and intends to serve homebuyers nationwide by the end of 2021.

Valuation 381
article thumbnail

Royal LePage: Surge in household formation imminent

Mortgagebroker News

Accelerated demand is likely to sustain the Canadian housing market through much of 2022

article thumbnail

Interfirst Announces New Non-Owner-Occupied Offering

Appraisal Buzz

New program is built upon a single interest rate with no adjustments, the first as part of the company’s new Independence Series of mortgage products. The post Interfirst Announces New Non-Owner-Occupied Offering appeared first on theMReport.com. The post Interfirst Announces New Non-Owner-Occupied Offering appeared first on Appraisal Buzz.

Appraisal 195
article thumbnail

Navigating the Canadian mortgage market’s current challenges

Mortgagebroker News

CEO on how to deal with the issues facing brokers and homebuyers alike

article thumbnail

Interfirst Rolls Out Program for Non-Owner-Occupied Properties

Appraisal Buzz

Interfirst Mortgage Co., a private equity-backed mortgage originator, has launched of ONE: a new loan program for non-owner-occupied properties. ONE is built upon a single interest rate with no adjustments and qualifies off the cashflow of the rental property (DSCR of 1 or higher). Interfirst controls and owns all product guidelines and sets the parameters (e.g., FICO scores, LTV requirements), as well as invests in the loans.

Investing 150