Mon.Jan 24, 2022

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The Future of Desktop Appraisals

Appraisal Buzz

Are you ready to meet the new GSE requirement of a detailed floor plan for your desktop appraisals? Join us for our upcoming webinar on January 25th at 2 pm, “ The Future of Desktop Appraisals ” with Joshua Walitt and Mark Walser! Learn about all of the new features in RemoteVal – a free inspection app for appraisers! RemoteVal has added a Dynamic Floor Plan Creator, in addition to allowing the appraiser to visually inspect the property in real-time on the date of inspection.

Appraisal 370
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The appraisal industry’s governance problem

Housing Wire

Imagine if the Consumer Financial Protection Bureau ’s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency’s rule-writing staff — and they would be creditors, too. The staff wouldn’t have to give up their industry perches while they wrote rule, and the rules they wrote would not only set the standards for industry practices, but also the criteria

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Incenter Appraisal Management and McKissock Learning Form Desktop Valuation Training Partnership

Appraisal Buzz

CHARLOTTE, N.C. and ST. LOUIS — January 24, 2022 — With Fannie Mae and Freddie Mac accepting desktop appraisals beginning in March, Incenter Appraisal Management and McKissock Learning are partnering to help appraisers update their remote inspection skills in response. The two organizations will jointly sponsor several webinars for appraisers seeking to master new remote inspection/desktop appraisal solutions, which will increasingly become requirements for their success.

Training 370
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Rocket rolls out mortgage teams for brokers

Housing Wire

Rocket Pro TPO will pair each of its brokers with a team of in-house mortgage experts, made up of underwriters, closing specialists and purchase title coordinators, to help brokers navigate the loan closing process. The program, dubbed “Crews” is live as of Jan. 24. According to Rocket, brokers will personally know the crew leaders and will work with them often, which will help brokers “get loans closed fast and with certainty.”.

Mortgage 370
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HUD Awards Housing Counseling Funding to Offset Pandemic Impact

Appraisal Buzz

HUD awarded $51.4 million in grants to support housing counseling programs, partnerships with minority-serving institutions, and training. The post HUD Awards Housing Counseling Funding to Offset Pandemic Impact appeared first on theMReport.com. The post HUD Awards Housing Counseling Funding to Offset Pandemic Impact appeared first on Appraisal Buzz.

Training 370
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Caliber Home Loans CEO Sanjiv Das steps down

Housing Wire

Sanjiv Das, CEO of Caliber Home Loans , is stepping down as CEO of the company, less than one year after New Residential Investment Corp. (Newrez) acquired the mortgage lender and servicer, sources familiar with the situation confirmed. In a memo sent Monday morning, Michael Nierenberg, CEO of New Residential Investment Corp., told employees that despite Das leaving, things will continue to be “business as usual.”.

Investing 370

More Trending

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Stearns Lending to lay off 348 workers

Housing Wire

Stearns Lending will lay off 348 workers following the decision by Guaranteed Rate earlier this month to discontinue operations of its third-party wholesale channel. A Worker Adjustment and Retraining Notification (WARN), submitted to the Texas Workforce Commission specifies that the layoff date will be on March 13. HousingWire sent a message seeking comment to Guaranteed Rate, which was not returned.

Lending 370
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Buyers’ FOMO on Lower Rates May Cause Increase in Home Purchases Before Spring

Appraisal Buzz

First American Financ i al Corp. has released the November 2021 First American Real House Price Index (RHPI). Real house prices increased 1.5% between October 2021 and November 2021, and increased 21% between November 2020 and November 2021. Real house prices are 5.6% less expensive than in January 2000. “In November, year-over-year nominal house price appreciation reached 21.5 percent, the sixth consecutive month it has set a new record,” observes Mark Fleming, chief economist at First.

Buyers 284
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Private-label RMBS deals continue their hot streak

Housing Wire

A total of 10 private-label deals valued at nearly $5.4 billion hit the market in the first two weeks of 2022, HousingWire reported last week , but that’s already old news. Since then, another nine private-label residential mortgage-backed securities (RMBS) offerings valued at $4.6 billion have unfolded. That brings the number of private-label transactions over the first three weeks of January to a total of 19 — backed by mortgage pools valued in aggregate at some $10 billion.

Mortgage 367
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Fear of Missing Out May Push More into the Market

Appraisal Buzz

The threat of rising rates may be the metaphorical “kick-in-the-pants” many need to enter the purchasing market as the threat of rising rates topped with inflation will be a driving force keeping demand high during a time of year that typically sees a major cool-off. First American Financial Corporation has released its latest iteration of their Real House Price Index (RHPI) for November, which … The post Fear of Missing Out May Push More into the Market appeared first on DSNews.

Marketing 284
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3 Ways Our Customers Are Winning With Conditional Logic Forms

GoForrmz

Discover how GoFormz users are leveraging conditional logic forms to gather better data, faster Digitizing your work forms can drastically improve your operation’s data entry. Digital forms not only provide a more professional, modern means of documentation but also allow form builders to ensure information is entered more completely and accurately.

Training 146
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The Average Home Now Costs $475,180

Appraisal Buzz

The threat of rising rates may be the metaphorical “kick-in-the-pants” many need to enter the purchasing market as the threat of rising rates topped with inflation will be a driving force keeping demand high during a time of year that typically sees a major cool-off. First American Financial Corporation has released its latest iteration of their Real House Price Index (RHPI) for November, which … The post The Average Home Now Costs $475,180 appeared first on theMReport.com.

Appraisal 284
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Homeownership Postponed

Eyes on Housing

The share of adults planning a home purchase within 12 months has fallen for two consecutive quarters, going from 17% in the second quarter of 2021, to 16% and 15% in the third and fourth quarter of the year, respectively. The downward trend provides evidence that higher home prices and low housing availability (relative to demand) are leading some Americans.

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Foreclosure Starts Ticked Up in December as Moratoriums Concluded

Appraisal Buzz

The mortgage delinquency rate (30 days or more past due) fell to 3.38% in December, down nearly 6% compared with November and down nearly 45% compared with December 2020, according to Black Knight’s First Look report. That’s almost as low as the pre-pandemic delinquency rate of 3.28% in February 2020. As of the end of the year there were about 1.8 million properties were 30 days or more past due, down about 107,000 compared.

Appraisal 195
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More marketing trends, demands for first-time homebuyers

Valuation Review

Valuation Review concludes its conversation with CoreLogic Valuation Production Leader Kevin Hecht from the 2021 Appraisal Summit in Las Vegas. Hecht continues to show the numbers surrounding the laws of demand pertaining to what first-time homebuyers must deal with, and other marketing trends to keep an eye on in 2022. Read on for the conclusion of this story.

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Michael Jansta: Crypto Investors Need to Diversify into Real Estate

Appraisal Buzz

PERSON OF THE WEEK: Could crypto investors help power the real estate market? Put differently, could the real estate market play a role in crypto investors’ growth strategies? To find out, MortgageOrb recently interviewed Michael Jansta, chief marketing officer for Altisource. Q: Why would real estate investors be interested in crypto? Jansta: The most obvious reason a growing number of real estate investors are interested in digital currencies is the return on investment.

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5 Tips to Help Ensure a Credible Appraisal

Appraisal Hub

If you’re getting a property appraisal in Toronto, you may be wondering about the process. How is it done? Who is authorized to do it? The results may even be confusing. How is it that a costly renovation ended up adding very little value to your home? Why did a neighbouring house get a higher appraisal? The key to a successful and accurate property appraisal is to work with experienced appraisers in Toronto.

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Lendsmart, Stratton Equities Incorporate Underwriting Technology

Appraisal Buzz

Stratton Equities is integrating with Lendsmart ’s AI-powered underwriting platform to underwrite loans upfront and reduce the loan origination processing time. “Lendsmart predicts the credit and underwriting conditions required in the loan origination process by matching them to a borrower’s data in real-time, rather than making the borrower wait over a month to hear from the underwriter,” says AK Patel, founder and CEO of Lendsmart.

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December 2021 REALTORS® Confidence Index Survey: Fewer Buyers Waiving Appraisal, Inspection Contract Contingencies

National Association of Realtors

The fraction of buyers who are waiving appraisal and inspection contract contingencies has been trending downwards in recent months, with REALTORS® saying that 19% of buyers waived the inspection contingency in December 2021, down from 27% in July, and 21% waived the appraisal contingency, down from 29% in June.

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HUD Offers Disaster Aid for Three Storm-Stricken States

Appraisal Buzz

Residents in Alaska, Tennessee, and Missouri hit by recent natural disasters are now eligible for federal disaster assistance. The post HUD Offers Disaster Aid for Three Storm-Stricken States appeared first on DSNews. The post HUD Offers Disaster Aid for Three Storm-Stricken States appeared first on Appraisal Buzz.

Appraisal 195
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Home supply hits new low in November

Valuation Review

The seasonally adjusted number of homes for sale fell 18 percent year-over-year in November to an all-time low, according to a Redfin report. That sent the median home sale price up 15 percent, to $383,100.

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Fannie Mae Examines Appraisal Inequality

Appraisal Buzz

In breaking down 1.8 million appraisals over 2019-2020, the GSE investigates divergent appraisal values among Black and white borrowers. The post Fannie Mae Examines Appraisal Inequality appeared first on theMReport.com. The post Fannie Mae Examines Appraisal Inequality appeared first on Appraisal Buzz.

Appraisal 195
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Embrace Home Loans expands Boston branch

Valuation Review

Embrace Home Loans recently named Meredith Spence branch manager of its new Boston/Seaport District office. Spence will be responsible for staffing the new office and expanding Embrace Home Loans’ business in the Greater Boston area while continuing to write loans.

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How to Boost Airbnb Profitability in 2022: 7 Tips

Mashvisor

Whether you are an experienced real estate agent or someone beginning their career in the short-term rental world, all investors can look to improve their Airbnb profitability in the upcoming…

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FHFA raising high balance, second-home loan fees

Valuation Review

The Federal Housing Finance Agency recently announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for certain high balance loans and second-home loans. High balance loans are mortgages originated in certain designated areas above the baseline conforming loan limit.

Design 60
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11 Best Places for Buying a Vacation Home in Virginia in 2022

Mashvisor

Virginia is located in the Mid-Atlantic and Southeastern regions of the United States, which stretches from the Chesapeake Bay to the Appalachian Mountains, with a long Atlantic coastline.

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CoreLogic: Delinquency numbers for October decreased

Valuation Review

The CoreLogic Loan Performance Insights (LPI) report through October 2021 has been released. The LPI analysis showed 3.8 percent of mortgages were delinquent by at least 30 days including those in foreclosure. Read on to learn more.

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The Important Laws and Regulations All Landlords Must Remember

BiggerPockets

When it comes to renting a property, things can get confusing. There are a number of federal laws that help to protect tenants' rights, and it can sometimes seem that tenants have more rights than landlords. Plus, it’s up to landlords to ensure that they always act according to federal regulations—which means that you have to know what to do, and what not to do, to avoid any issues with the tenant.

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StoicLane acquires Brentwood Property Appraisal

Valuation Review

StoicLane, a long-term growth platform, recently announced it completed the acquisition of Brentwood Property Appraisal. Brentwood is an AMC focused on the high-end residential market in California, New York, New Jersey, D.C., and Florida. Read on for more details of this transaction.

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Should Massachusetts Homebuyers Buy a Flipped Home?

Buys Brokers Only LLC

In real estate, a "flip," or "flipped home," is when a real estate investor purchases a home that typically is in some stage of distress, makes repairs to and updates the property, intending to resell it quickly to a homebuyer for a profit.

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Fannie Mae report examines differences in Black and white appraisals

Valuation Review

Fannie Mae, as part of its ongoing commitment to helping all homeowners receive a fair and impartial appraisal, recently published a research report looking at appraisal values of homes owned by Black and white borrowers in refinance transactions titled “Appraising the Appraisal.” Appraisal Institute President Pledger (Jody) Bishop reached out to Valuation Review for his comments on this report.

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The Best Cash on Cash Return Calculator in 2022

Mashvisor

They say that buying a house is one of the biggest expenses – if not the biggest – one will ever have in his or her entire lifetime.

Tools 67
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How to get started in the mortgage industry during turbulent times

Mortgagebroker News

This mortgage professional stresses the value of having firm operational foundations, even from other industries

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BiggerPockets Podcast 562: How to Make 2022 Your Best Year Ever

BiggerPockets

“How to invest in real estate?” is a commonly searched-for term across the internet. With home prices continuing to climb and inventory staying low, more people want to know how […].