Fri.Mar 25, 2022

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Here are the top 10 mortgage lenders in 2021

Housing Wire

Home Mortgage Disclosure Act (HMDA) data, released Thursday by the Consumer Financial Protection Bureau, showed a reshuffle in the top 10 lenders by volume for 2021. According to an analysis of the HMDA data by Polygon Research application HMDAVision, the top 10 lenders by volume are: Rocket Mortgage United Wholesale Mortgage Wells Fargo LoanDepot JPMorgan Chase New Residential Investment Corp.

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Pending Home Sale Fell For Fourth Consecutive Month in February

Appraisal Buzz

Pending home sales fell 4.1% in February compared with January and were down 5.4% compared with February 2021, according to the National Association of Realtors (NAR). It was the fourth consecutive month that pending home sales decreased. Regionally, and month-over-month, pending home sales increased 9.9% in the Northeast but fell 6.0% in the Midwest, 4.4% in the South and 5.4% in the West.

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Pennymac to lay off 236 employees

Housing Wire

California-based Pennymac Financial Services will lay off more than two hundred employees in the coming months, according to notices sent to the state’s Employment Development Department on March 7. Pink slips will arrive for 236 employees at six different offices in five California cities, with the expected date of separation on May 6, the Worker Adjustment Retraining Notifications show.

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Outlook: Buyers and Inventory Will Return by 2024

Appraisal Buzz

Now is a great time to own a home, but not so much if you are trying to buy one. First-time buyers are fighting a war on multiple fronts, trying to balance rising home prices and interest rates with near record low inventory of 870,000 units in February, a 1.7 month supply. But looking ahead, … The post Outlook: Buyers and Inventory Will Return by 2024 appeared first on DSNews.

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NY bill would change statute of limitations on foreclosures

Housing Wire

A rule making its way through the New York Senate could significantly shorten the time allotted for a lender to initiate a foreclosure action. This may have ramifications on all lenders operating in the state of New York. A bill, dubbed the Foreclosure Abuse Prevention Act, sponsored by James Sanders Jr. (D) from the 10th Senate District, stipulates that once a lender has initiated a foreclosure action and accelerated the loan, they only have six years to complete a foreclosure.

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Optimum Integrates Black Knight’s Empower to Increase Loan Origination Growth

Appraisal Buzz

Optimum First Mortgage , a hybrid mortgage broker and lender headquartered in California, has signed a contract to implement Black Knight Inc. ’s Black Knight Empower loan origination system (LOS) and its suite of integrated solutions. “We wanted to scale our operations, automate processes and support compliance using newer technology,” says Matt Dohman, president of Optimum First Mortgage. “Because we’d already been on the Optimal Blue PPE and signed up to use Surefire,

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Opening Doors for New Opportunities

Appraisal Buzz

The Five Star Institute is gearing up for its Diversity and Inclusion Symposium, set for April 28, a day of engagement, networking, and advancing D&I progress within the housing industry. The post Opening Doors for New Opportunities appeared first on DSNews. The post Opening Doors for New Opportunities appeared first on Appraisal Buzz.

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HW+ Member Spotlight: Arjun Dhingra

Housing Wire

This week’s HW+ member spotlight features Arjun Dhingra, who serves as sales and business development at All Western Mortgage. Dhingra has over 20 years of experience helping homebuyers and real estate agents and is an expert when it comes to harnessing the power of social media to help educate and inform people on the home-buying process. Creating a large following on Instagram , he offers updates on the housing market, tips on the home-buying process and so much more.

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With Low Housing Inventory, Housing Prices Climb to Record High

Appraisal Buzz

Housing prices jumped the most since summer 2021 – up 17% year over year to a new high, according to a new report from Redfin. At the same time, a 7% drop in new listings kept homebuyer competition elevated amid rapidly rising mortgage rates. Nearly three in five homes were snapped up within two weeks, an all-time high, and half sold for over the asking price.

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In the Kitchen, First-Time Buyers Really Want Double Sinks and Pantries

Eyes on Housing

Much like other home buyers, those buying their first homes rate double sinks and walk-in pantries as the most popular of 30 kitchen features listed in the recent NAHB study, What Home Buyers Really Want, 2021 Edition. In the study, first-time (and other) home buyers rated over 200 home features—including 30 in the kitchen—on the following, four-tier scale (which emphasizes.

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Padgett Law Group Receives ‘No-Objections’ Status from GSEs

Appraisal Buzz

Padgett Law Group (PLG) has announced the firm has received its no-objection status from Fannie Mae and Freddie Mac, clearing the final administrative task in entering the firm’s newest state of full-service creditors’ rights operations, Pennsylvania. The build-out of PLG’s Pennsylvania operations has been led by Jacqueline F. McNally, Esq., Managing Attorney of Judicial Foreclosure. … The post Padgett Law Group Receives ‘No-Objections’ Status from GSEs appeared first on DSNews.

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Dear ASC: Details… Why They Matter

Appraiserblogs

DETAILS… NO MATTER HOW SMALL OR BIG NEED TO BE PRESENTED. If not, you failed. ASC, today you failed us all. Over the past several days, the Real Estate Appraisal Industry has been the subject of scrutiny with the release of the PAVE Report that the Interagency Task Force developed on Property Appraisal And Valuation Equity set forth by the Biden Administration.

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After January Spike, Foreclosure Starts Drop by 24 Percent

Appraisal Buzz

Black Knight Inc. reports a “first look” at February 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was 3.36%, with a month-over-month change of 1.76% and a year-over-year change of -44.09%.

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The Realtor’s Guide to Appraisals Part 4: The Difference Between a Purchase & Refinance Appraisal

Riverfront Appraisals

Have you ever listed a home and during your listing appointment, the homeowner mentioned a previous appraisal? Maybe they kept impeccable records and had the appraisal from when they bought the home, as well as a refinance appraisal from two years ago. Which one should you use? What’s the difference between the two? Read on […]. The post The Realtor’s Guide to Appraisals Part 4: The Difference Between a Purchase & Refinance Appraisal appeared first on Riverfront Appraisals.

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How to Find Reliable Airbnb Rental Data in 2022

Mashvisor

Finding reliable Airbnb rental data is one of the essential steps to launching a vacation rental business if you want to succeed in this space.

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California’s 25% Speculation Tax: What It Means For Real Estate Investors And Homeowners

BiggerPockets

Californians might be facing new taxes, again. Waves were stirred last week when Assemblymember Chris Ward (D-San Diego) introduced the California Speculation Act (AB 1771). The bill is the Assembly’s […].

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Poll: Variable-rate offerings seeing greater popularity

Mortgagebroker News

Canada's fixed rates have seen their first increases since the pandemic took hold, Ratehub.

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How Will War, Inflation and Rising Interest Rates Affect the Real Estate Market

Eppraisal

The reality that good news never makes the news does not take the edge off of the dreadful reports coming from media outlets in 2022. From the Russian invasion of Ukraine to continued supply chain disruptions to increasing urban crime to inflation -- always inflation -- we are bombarded with challenging circumstances and pessimistic forecasts. Some of these events seem worlds away but others, like inflation, are felt on a daily basis.

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What are lenders encouraging brokers to keep top of mind?

Mortgagebroker News

Leading names in the lending space on what brokers need to take into consideration this year

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Joshua Tree Airbnb: Should You Invest in 2022?

Mashvisor

No matter what kind of investment you are interested in, consider looking for property in California. Specifically, look into Joshua Tree Airbnb for a profitable investment.

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RBC: Home-buying intentions nearly at pre-pandemic levels

Mortgagebroker News

The mounting affordability crisis is giving many would-be home owners some pause, RBC says

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Reonomy Pricing: Is This Commercial Real Estate Software Worth the Cost?

Mashvisor

Let’s discuss Reonomy pricing, features, and benefits it brings to real estate professionals.

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Ontario to impose harsher penalties for "unethical" condo developers

Mortgagebroker News

Provincial government sets its sights on price gouging and other unsavoury practices

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Build-for-Rent Homes Provide Buffer for Housing Shortage

Appraisal Buzz

According to new data from the current Single-Family Rental Market Index (SFRMI), released this week and produced by the National Rental Home Council (NRHC) and John Burns Real Estate Consulting (JBREC), homes built for the purpose of renting – ‘build-for-rent’ homes – accounted for 26% of properties added to the portfolios of single-family rental home … The post Build-for-Rent Homes Provide Buffer for Housing Shortage appeared first on DSNews.

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CMHC declares nearly $1 billion in dividends

Mortgagebroker News

Crown corporation assures that the dividends will not affect its operational capital

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