Thu.Aug 04, 2022

Fannie Mae to accept lender-funded down payment assistance

Housing Wire

Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The change could give nonbank lenders a way to guard against redlining accusations.

Law 403

Seminar Addresses Common Complaints Against Appraisers Through Case Studies

Appraisal Buzz

Disciplinary complaints are a hot topic these days with appraisers. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, complaints against appraisers are becoming more and more common.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Rocket’s profits drop dramatically to $60M in Q2 2022

Housing Wire

Rocket Companies , the parent of America’s top mortgage lender Rocket Mortgage , reported a $60 million profit in the second quarter, down from $1 billion in profits just the previous quarter.

Does Home Ownership Affect Racial Wealth Disparities?

Appraisal Buzz

Home ownership is the gold standard when it comes to safe investments, and for low-income residents it can be a reliable vehicle to build generational wealth. But in terms of wealth inequality, how far does homeownership go toward closing the gap between households of color and white households?

Cheer up, at least purchase mortgage rates are now below 5%

Housing Wire

Purchase mortgage rates dropped for the third consecutive week and are now below the 5% level, reflecting a Federal Reserve monetary policy that has led to a “technical recession” in the U.S. economy.

Milliman: Expected Slowdown Driving Uptick in Mortgage Risk

Appraisal Buzz

According to Milliman’s latest Mortgage Default Index (MMDI) covering the first quarter of 2022, mortgage originations continued a decline recorded over the last three quarters due to increased interest rates and a decline in originations and refinances.

More Trending

Share of Seriously Underwater Mortgages Slips Below 3%

Appraisal Buzz

ATTOM has released its Q2 2022 U.S. Home Equity & Underwater Report, which shows that 48.1% of mortgaged residential properties in the U.S.

Unpacking the top housing regulations to watch at HW Annual on Oct. 4

Housing Wire

The current administration has been in office for over a year and a half, and with that tenure, a lot of the new housing officials have had time to create and announce their core initiatives.

Homeowner Equity Surges in Q2

Appraisal Buzz

ATTOM has released its Q2 2022 U.S. Home Equity & Underwater Report, which shows that 48.1% of mortgaged residential properties in the U.S.

Finance of America eliminates big chunk of workforce as losses mount

Housing Wire

Finance of America posted steep losses in the second quarter and has pledged to eliminate a significant percentage of its workforce to contain the financial fallout.

Servicers Anticipate Rise in Foreclosures

Appraisal Buzz

Mortgage servicers polled in a new report expect 23% of seriously delinquent mortgages to complete foreclosure over the next year, with pandemic backlog and regulatory intervention having the biggest impact on foreclosure volume.

Veros acquires appraisal management company Valligent

Housing Wire

The parent company of appraisal software firm Veros Real Estate Solutions has acquired California-based appraisal management company Valligent Technologies.

Veros Acquires Valligent to Drive the Property Valuation Industry Upward

Appraisal Buzz

Today, Veros Software, the parent company of Veros Real Estate Solutions, an industry leader in enterprise risk management and collateral valuation services, announced the acquisition of Valligent, a market-leading appraisal management company.

Freedom Mortgage agrees to sell RoundPoint Mortgage Servicing 

Housing Wire

Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp.

Mortgage Rates Fall to Four-Month Low

Appraisal Buzz

A market reset may be underway, as fixed-rate mortgages fell just below 5% for the first time since April 7, continuing a trend of instability amid inflationary pressures and a slowdown in economic growth. The post Mortgage Rates Fall to Four-Month Low appeared first on theMReport.com. The post Mortgage Rates Fall to Four-Month Low appeared first on Appraisal Buzz. Around The Web

Black Knight reports slowing organic growth

Housing Wire

Ahead of a potential merger with rival Intercontinental Exchange Inc. mortgage tech giant Black Knight reported slimmer profits in the second quarter and slowing organic growth. The company’s profit dropped nearly 90% from the previous quarter’s $364.6

On Race, Homeownership, and Wealth Inequality

Appraisal Buzz

Home ownership is the gold standard when it comes to safe investments, and for low-income residents it can be a reliable vehicle to build generational wealth. But in terms of wealth inequality, how far does homeownership go toward closing the gap between households of color and white households? With this question in mind, Ashleigh Eldemire-Pointdexter, … The post On Race, Homeownership, and Wealth Inequality appeared first on theMReport.com.

Ocwen earnings down amid higher rates, spreads

Housing Wire

Florida-based mortgage servicing company Ocwen Financial — the parent company of entities including PHH Mortgage Corp. and Liberty Reverse Mortgage — recorded a pre-tax loss of $26 million in Q2 2022 compared to income of $6 million one year prior.

High Home Prices Is Main Reason Active Buyers Can’t Seal the Deal

Eyes on Housing

An earlier post revealed that 63% of buyers who were actively engaged in the process of finding a home in the 2nd quarter of 2022 have spent 3+ months searching for a home without success.

Buyers 120

In Some Fla. Markets, Home Prices Exceed Incomes

Empire Appraisal Group

In Some Fla. Markets, Home Prices Exceed Incomes. By Catie Wegman. Source: In Some Fla. Markets, Home Prices Exceed Incomes | Florida Realtors. Moody’s Analytics considers some Fla. metros “overvalued” because it says the average local resident can’t afford to buy a local median-priced home.

Housing Share of GDP Edges Lower in the Second Quarter of 2022

Eyes on Housing

Housing’s share of the economy edged lower at the end of the first half of 2022. For the second quarter of 2022, overall GDP declined at a 0.9% annual rate, following a 1.6% decrease in the first quarter. Housing’s share of GDP decreased to 16.6%, slightly below the first quarter share of 16.7%.

113
113

Appraisal Comparable Guidelines – What Do Appraisers Look For in Comps?

Realvals

One of the most essential parts of any appraisal is the comparable properties that the appraiser chooses for the Sales Comparison Approach. These “comps” are used to determine the value of your property, so choosing the wrong ones can have a positive or negative effect.

USPAP Third Exposure Draft

Appraisers Blog

…the Ethics Rule has been expanded with a new highly detailed Nondiscrimination section, which also affects the Competency Rule. Folks, the Appraisal Foundation’s Appraisal Standards Board released the THIRD Exposure Draft to USPAP on July 26, 2022.

Seminar Addresses Common Complaints Against Appraisers Through Case Studies

McKissock

Disciplinary complaints are a hot topic these days with appraisers. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, complaints against appraisers are becoming more and more common.

5 Ways Digital Forms Support Extracurriculars

GoForrmz

Provide extracurriculars without the extra paperwork Most high schools offer lots of extracurricular activities–like music, robotics, sports, and mathletics! These activities allow students to learn valuable lessons and develop their individual passions.

Lamacchia Realty Received the 2022 South Shore Magazine Star of Excellence Award

Lamacchia Realty

Lamacchia Realty received the 2022 South Shore Magazine Star of Excellence award for showing overall excellence in service every day of the year!

What Does a Flip Home Look Like Before the Flip?

Hank Miller Team

The Atlanta area consistently ranks as one of the very top markets for home flippers. The term "flipping" has a ridiculously broad definition, it ranges from changing the locks and selling it to completely a full remodel and selling it.

Vancouver market decelerates amid outsized rate hikes

Mortgagebroker News

The region's July housing activity was significantly slower than the 10-year average

30 BREATHTAKING HOUSTON PHOTOS (YOU PROBABLY HAVEN’T SEEN)

Houston Properties

Houston, Texas in pictures. The best selection of city and suburb views

58

Toronto home sales continue to plummet

Mortgagebroker News

One of the country's hottest markets is experiencing a protracted slowdown

Home Sales Slow Down Amidst 0.75% Fed Rate Hike

Mashvisor

What most of us have been anticipating is finally here. Home sales are slowing down after months of strong housing demand and price hikes.

How big a role are fintechs playing in the mortgage market?

Mortgagebroker News

A recent CMHC report highlighted the increasing digitization of the mortgage process

Top 5 Websites to Analyze Investment Property

Mashvisor

We have managed to put together this selection of the top five websites to analyze investment property. Have you considered these platforms?

HomeEquity Bank appoints new board of directors

Mortgagebroker News

The reverse mortgage lender was recently acquired by Ontario Teachers' Pension Plan