Tue.Sep 27, 2022

Federal judge rules in favor of FHFA on net worth sweeps

Housing Wire

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps.

Legal 423

Sunbelt Reports Record Purchase Backouts

Appraisal Buzz

In another new sign of the times, roughly 64,000 home-purchase agreements fell through in August 2022 according to Redfin, a number equal to 15.2% of all homes that went under contract that month. To put it another way, that number is up 12.1% from a year ago.

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Why the Fed’s housing reset risks a global recession

Housing Wire

When Federal Reserve Chairman Jerome Powell talked about a housing reset in June , it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting , held last week, Powell finally clarified what he meant by that term and what a housing reset means to the Fed.

Redfin: 60k+ Buyers Cancelled Contracts in August

Appraisal Buzz

In another new sign of the times, roughly 64,000 home-purchase agreements fell through in August 2022 according to Redfin, a number equal to 15.2% of all homes that went under contract that month. To put it another way, that number is up 12.1% from a year ago.

BayFirst National Bank withdraws from residential mortgage business?

Housing Wire

Higher mortgage rates, lower volume and fiercer competition forced BayFirst National Bank to shut down its residential mortgage business and lay off staffers. BayFirst Financial Corp. ,

With Homeownership Out of Reach for Many, Millennials Explore Co-Buying

Appraisal Buzz

With buyers are seeking smaller mortgages, and “house hacking” quickly becoming the new norm, Pairadime conducted a survey of 1000 millennials in the US around their outlook on home buying, with the results revealing more millennials are looking for smart solutions to achieve their home ownership dreams.

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Small Towns Flaunt Million-Dollar Properties

Appraisal Buzz

Home prices may seem as if they’re declining in some parts of the country, but they’ve also dramatically risen over the past two and a half years since the onset of the pandemic.

Wells Fargo discloses another layoff in Iowa

Housing Wire

Amid a decline in mortgage business, Wells Fargo last week notified Iowa state authorities of its plans to lay off 36 employees. The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development.

Fannie Mae Executes Ninth Credit Insurance Risk Transfer of 2022

Appraisal Buzz

Fannie Mae has executed its ninth Credit Insurance Risk Transfer (CIRT) transactions of 2022.

Opinion: Customer service is a lender’s greatest strength

Housing Wire

These days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand fell 6% week over week at the end of July. Applications dropped 7% in the same period. The national inflation rate eclipsed 9% in June.

Market Study: Towns With the Most $1 Million-Plus Homes

Appraisal Buzz

Home prices may seem as if they’re declining in some parts of the country, but they’ve also dramatically risen over the past two and a half years since the onset of the pandemic.

Mortgage delinquency rate nears historic low?

Housing Wire

The overall mortgage delinquency rate declined to 2.79% in August from 3.6% in July, according to a report by Black Knight. The delinquency rate is just 4 basis points above the historic low of 2.75% in May 2022.

Wells Fargo Dedicates $300,000 to Assist Victims of Hurricane Fiona

Appraisal Buzz

A donation from the Wells Fargo Foundation to be dedicated toward disaster relief efforts in Puerto Rico to rebuild the region in the wake of Hurricane Fiona making landfall. The post Wells Fargo Dedicates $300,000 to Assist Victims of Hurricane Fiona appeared first on DSNews. The post Wells Fargo Dedicates $300,000 to Assist Victims of Hurricane Fiona appeared first on Appraisal Buzz. Around The Web

The Real Brokerage to acquire LemonBrew Lending

Housing Wire

Publicly traded real estate firm The Real Brokerage has struck an agreement to acquire the mortgage brokerage arm of real estate and mortgage technology company LemonBrew. The Real Brokerage, headquartered in Ontario, Canada, will pay $1.25

HUD Issues 19,000-Plus Housing Vouchers

Appraisal Buzz

Marking the most expansive allocation of flexible rental assistance in nearly 20 years, HUD Secretary Marcia L. Fudge has delivered more than 19,000 new Housing Choice Vouchers nationwide. The post HUD Issues 19,000-Plus Housing Vouchers appeared first on theMReport.com. The post HUD Issues 19,000-Plus Housing Vouchers appeared first on Appraisal Buzz. Around The Web

Rachel Luna to speak at HW Annual Oct. 4

Housing Wire

Technology and title have been closely intertwined as of late, as the title space looks at ways to not only integrate adoption but also look at where technology is actually beneficial in the process.

How can lenders ensure the greatest possible quality of service?

Mortgagebroker News

"It just doesn't come from picking up the phone or returning emails within a certain timeframe

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Hurricane Preparedness

Lamacchia Realty

HURRICANE PREPAREDNESS. With Hurricane Ian headed for Florida, it’s important for you to be prepared for anything. With any storm, there is a potential for power outages, flooding, leaks, damage to your home, and much more.

Why is imposter syndrome still plaguing some workers?

Mortgagebroker News

Some don't want recognition; some don’t want to be seen as leaders

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Cash Cows of Real Estate: Where Do You Find the Money to Finance Short-Term Rentals?

BiggerPockets

At some point across the last couple of years, I’m sure most of you have seen the returns other investors are making on short-term rentals (STRs) and asked yourself, “how […]. Short-Term Rental Investing Mortgages & Creative Financing

BMO: Global pressures to continue influencing Canadian inflation

Mortgagebroker News

This is despite the metric having recently shown signs of easing

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How to Get Any Seller to Accept Your Offer in 24 Hours (or Less!)

BiggerPockets

Investment properties are hard to find—unless you use the tips Jonathan Greene mentions in today’s episode. If you’re like most real estate investors, you know that in 2022, it can […]. All BiggerPockets Real Estate Podcast

Brokerage to acquire tech-powered home loan platform

Mortgagebroker News

The brokerage also conducts business on the TSX

17 Popular Types of Homes In Real Estate

PennyMac

Many people want to be homeowners, but not everyone knows what type of house they want or what will suit them best. Especially when you begin your house hunt, you’ll want to be familiar with the terminology of house structures and architecture.

Is the four-day workweek an inevitable part of our future?

Mortgagebroker News

We believe this improved work-life balance will result in a more energized and productive team

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