Thu.Dec 02, 2021

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Housing inventory has never been lower

Housing Wire

It’s official – housing inventory in America is at a crisis level. The number of active listings hit an all-time low during the week ending November 28, according to a Redfin report published on Wednesday. During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019.

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Listing Inventory Trends In The Time Of COVID

Miller Samuel

The Winter 2022 issue of Elliman Magazine was published this week and it is quite a beautiful publication. I created a chart for the publication which compares month listing inventory trends across a number of the markets we cover for Douglas Elliman. [click to expand image] The post Listing Inventory Trends In The Time Of COVID first appeared on Miller Samuel Real Estate Appraisers & Consultants.

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How lenders can serve the underserved in 2022

Housing Wire

Our business is changing…again. This time, the industry must respond to new mandates sent down by the new administration in Washington, D.C. President Biden has made it quite clear that lenders will be tasked with providing more affordable housing options to underserved communities. How the industry will accomplish this is not yet clear. Further, the new Director of the Consumer Financial Protection Bureau, Rohit Chopra, appears ready to take lenders to task should they fail to make every

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What’s The Size of Your Driveway?

Cleveland Appraisal Blog

One appraiser reports a driveway to be two cars in size. Another says the same driveway is six cars in size and another says the driveway is an eight-car driveway. They may all be correct! How so? It really depends on how the appraiser is looking at it. Are they reporting the width of the driveway, the depth, or how many cars can fit on the driveway?

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Mortgage rates remain flat as Omicron fears spread

Housing Wire

Mortgage rates increased one basis point to 3.11% in the week ending Dec. 2, ignoring the volatility in the financial markets caused by the Omicron Covid variant , according to the latest Freddie Mac PMMS mortgage report. A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the report published on Thursday. Mortgage rates are in a historical low level, but the expectation is that they will increase in the coming months due to higher interest rates.

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Mr. Cooper Sells Reverse Servicing Portfolio

Appraisal Buzz

Previously operating under the Champion Mortgage brand, Mr. Cooper Group has completed the sale of its reverse portfolio to Mortgage Assets Management, LLC and its affiliates. The post Mr. Cooper Sells Reverse Servicing Portfolio appeared first on DSNews. The post Mr. Cooper Sells Reverse Servicing Portfolio appeared first on Appraisal Buzz.

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More Trending

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Court Decision Vacated Over Debt Collection Practices

Appraisal Buzz

Multiple courts throughout the United States are addressing claims brought against debt collectors for alleged violations of § 1692c(b) of the Fair Debt Collections Practices Act (“FDCPA” or the “Act”) and reaching conflicting conclusions. The Eleventh Circuit granted rehearing and issued a newly revised opinion on October 28, 2021. Hunstein v. Preferred Collection & Mgmt.

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Employment Situation in October: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 47 states and the District of Columbia in October compared to the previous month while three states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 531,000 in October, following an upwardly revised increase of 312,000 jobs in September. On a month-over-month basis, employment data was strong in.

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Rates Remain Favorable for Refi-Seekers

Appraisal Buzz

In a holiday-shortened week, mortgage rates rose slightly, hitting 3.11%, yet remaining within range of all-time lows. The post Rates Remain Favorable for Refi-Seekers appeared first on theMReport.com. The post Rates Remain Favorable for Refi-Seekers appeared first on Appraisal Buzz.

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The Top 3 Digital Forms for Waste Management

GoForrmz

Improve your daily operations and data collection by utilizing these top waste management forms With digital forms, waste management organizations can significantly increase visibility into field team activities to create more efficient communication between in-field and administrative staff. Collecting data from paper forms can be a huge administrative burden and lead to lengthy processing times and incorrect data.

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Bipartisan MI Bill Introduced to Provide Relief to Middle-Class

Appraisal Buzz

Reps. Ron Kind and Vern Buchanan announce legislation to provide financial assistance to middle-class homebuyers. The post Bipartisan MI Bill Introduced to Provide Relief to Middle-Class appeared first on DSNews. The post Bipartisan MI Bill Introduced to Provide Relief to Middle-Class appeared first on Appraisal Buzz.

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Uneven Recoveries Can Build Long-Term Racial and Ethnic Disparities in Housing

Urban

With a predominately Black and Hispanic population, Newark, New Jersey, provides a case study of how economic recessions can cause disparate long-term inequities by race and ethnicity.

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Mortgage Insurance Deduction Legislation Introduced

Appraisal Buzz

New bipartisan measure aims to make permanent a deduction for MI premium payments for middle-class homeowners. The post Mortgage Insurance Deduction Legislation Introduced appeared first on theMReport.com. The post Mortgage Insurance Deduction Legislation Introduced appeared first on Appraisal Buzz.

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BiggerPockets Money Podcast 254: Finance Follow-Ups: When to Scale Up (or Down) Your Real Estate Portfolio

BiggerPockets

We’re back with another Finance Friday Follow-Up! This week, we talk to two past guests and review three life updates. Fabio from episode 174, Clayton from episode 168, and Rachael […].

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Inventory Finds New Low in November

Appraisal Buzz

If you thought the housing supply hit rock bottom in February, you thought wrong. According to a new report from Redfin, the number of homes available for sale fell by another 38,000 units finding a new low by the end of November suggesting more hardships for burnt-out homebuyers. As of November 28, the supply of available homes sat at 538,695 units, down from the previous low of 576,695 seen … The post Inventory Finds New Low in November appeared first on DSNews.

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Sharply Inclined Driveway

Hank Miller Team

Driveways are the first impression of most homes. Not only do they help form the overall aesthetic but they serve an essential role; access in and out of the property. In an ideal world, the driveway is easily accessible, flat, and easily used. In the real world, most driveways don't hit every positive aspect. The challenge then, is what characteristic is considered adverse and negatively impacts value and/or marketability?

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Mortgage Rates Start Strong, But Ended Higher

Appraisal Buzz

Mortgage rates started weaker and ended stronger yesterday. Unfortunately , today delivered exactly the opposite scenario. The underlying bond market (the most important factor in determining mortgage rates) started the day at levels that would have allowed lenders to offer some of their lowest mortgage rates since early November. But bonds began to deteriorate too early in the day for lenders to ignore.

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What Is A Transaction Broker in Real estate?

Mashvisor

If you are looking to buy or sell a property, you would typically look to a real estate agent to help you throughout this process.

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November Median Home Sale Price Reaches $360k

Appraisal Buzz

If you thought the housing supply hit rock bottom in February, you thought wrong. According to a new report from Redfin, the number of homes available for sale fell by another 38,000 units finding a new low by the end of November suggesting more hardships for burnt-out homebuyers. As of November 28, the supply of available homes sat at 538,695 units, down from the previous low of 576,695 seen … The post November Median Home Sale Price Reaches $360k appeared first on theMReport.com.

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What is a Defeasance Clause in Real Estate?

Mashvisor

When you pay off your loan and meet the terms of your mortgage agreement, the defeasance clause kicks in.

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Mortgage Lending Sees Fast Dip During Q3 2021, ATTOM Reports

Appraisal Buzz

ATTOM has released its third-quarter 2021 U.S. Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. That figure was up 3% from the third quarter of 2020, but down 8% from the second quarter of 2021 – the largest quarterly dip in over a year.

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What's impacting housing affordability in Canada?

Mortgagebroker News

Governments collect more fees than they spend on new housing and commercial space development, new study says

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Angel Oak Opens 3 Branches to Expand Western Footprint

Appraisal Buzz

The retail lender’s expansion continues in key regions as the mortgage market remains steadfast. The post Angel Oak Opens 3 Branches to Expand Western Footprint appeared first on theMReport.com. The post Angel Oak Opens 3 Branches to Expand Western Footprint appeared first on Appraisal Buzz.

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Cash to Close vs. Closing Costs: What’s the Difference?

Mashvisor

Buying a house is an exciting time for anyone, especially if it’s your first home.

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Déjà Vu All Over Again

Appraisal Buzz

For the mortgage lending industry, 2022 will look an awful lot like 2021, as Shashank Shekhar shares his forecast with MReport. . The post Déjà Vu All Over Again appeared first on theMReport.com. The post Déjà Vu All Over Again appeared first on Appraisal Buzz.

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A new way to find the perfect mortgage fit

Mortgagebroker News

One top mortgage brokerage is looking beyond just the best mortgage rates

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Déjà Vu All Over Again

Appraisal Buzz

For the mortgage lending industry, 2022 will look an awful lot like 2021, as Shashank Shekhar provides his exclusive forecast for next year to The MReport. . The post Déjà Vu All Over Again appeared first on theMReport.com. The post Déjà Vu All Over Again appeared first on Appraisal Buzz.

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Fintech enters into licensing agreement with digital mortgage platform

Mortgagebroker News

The deal will allow a larger number of consumers to access AI-powered credit valuation services

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Safety Tips for Real Estate Agents

Eppraisal

There is a lot in the news about the real estate market and how home values are rising, inventory and interest rates are low, and the like. The one issue that doesn't get much attention is real estate agent safety. It can be dangerous out there in the world of real estate. The National Association of Realtors (NAR) shows alarming statistics. NAR states, "Crimes against real estate professionals have risen 300% since 2006, and 14% of Realtors have feared for their safety while working.

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Be recognized as an employer of choice

Mortgagebroker News

Canadian Mortgage Professional invites readers to nominate their organizations

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Shoring up the mortgage underwriter shortfall

Housing Wire

The mortgage industry is contending with a loan-underwriter shortage that has acted like a governor on an engine — slowing the pace of a fast-growing private-label securitization market. The shortage stems from the imbalance created by the robust demand for underwriters in the private-label market set against the relatively stagnant supply of available underwriters — who also are in high demand in the booming mortgage-origination sector.

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TD Bank announces financial results

Mortgagebroker News

The bank says it ended the year in a strong position

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Nonbanks quick to implement 2022 conforming loan limits

Housing Wire

On Tuesday, the Federal Housing Finance Agency revealed the much-anticipated conforming loan limits for 2022, with the baseline number jumping by 18% to $647,200. It’s the largest-ever annual increase in the size of loans eligible to be bought by Fannie Mae and Freddie Mac. The figure, which is determined by a formula set by Congress, didn’t catch many nonbanks too off-guard.

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Building permits post gains despite slight drop in housing intentions – StatCan

Mortgagebroker News

Some residential segments fared better than others, according to new official statistics

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