Mon.Jan 24, 2022

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!

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.

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Housing Market Projected to Remain Stable

Appraisal Buzz

Freddie Mac has predicted that the single-family housing market will remain stable in 2022, although mortgage rates are expected to increase.

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.

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.

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.

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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.

Foreclosures at All-Time Low and Near Record-Low Delinquency Rate

Appraisal Buzz

While roughly twice as many foreclosure sales occurred within the month as compared to December 2020, there were only one-third as many as in pre-pandemic December 2019.

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

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 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.

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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.

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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.

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.

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.

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.”

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.

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.

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.

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

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.

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

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.

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

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.

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

Consumer Price Inflation Increased in 2021

Appraisal Buzz

Freddie Mac has predicted that the single-family housing market will remain stable in 2022, although mortgage rates are expected to increase.

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

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 is inventory so low, and when will it get better?

San Jose Real Estate

There are several factors causing the housing shortage. Which of these will need to change for conditions to improve for buyers? Market Info Brian Buffini Housing inventory Joe Niego mary pope-handy Real estate san jose shortage silicon valley

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.

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

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.

Mortgage diligence not high on Canadians' priority list – poll

Mortgagebroker News

However, Canadians also believe that more should be done when it comes to educating consumers on mortgages

December 2021 South Florida Housing Report

Lamacchia Realty

The Lamacchia Realty South Florida Housing Report presents overall home sale statistics and highlights the average sale prices for single families, condominiums/townhomes in Broward County, Miami-Dade County, and Palm Beach County for December 2021 compared to December 2020.