Wed.Sep 07, 2022

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NewRez debuts 40-year non-QM mortgage product

Housing Wire

Top mortgage lender NewRez has added to its line of “Smart Series” non-QM products, launching a 40-year fixed-rate interest-only mortgage loan. With the 40-year IO mortgage, borrowers make interest-only payments for the first 10 years, which NewRez says increases their purchasing power and allows for more affordable monthly payments. (It also slows the amount of equity borrowers have in the property.).

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Utah Joins California on List of Unaffordable Metros

Appraisal Buzz

In modern-day America, even a top job’s paychecks do not always open the door to acquiring homeownership. However, regional differences still make it possible for workers in a wide range of professions to buy a home in locations where their job skills are needed, according to a new report form StorageCafe. With major changes in … The post Utah Joins California on List of Unaffordable Metros appeared first on DSNews.

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Rocket preemptively raises 2023 conforming loan limits for brokers

Housing Wire

The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. The increased loan limits for mortgage brokers apply to new registrations and locks effective Sept. 6, the lender said Tuesday.

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Servicers Adapt to Changing Times

Appraisal Buzz

COVID-19 presented mortgage servicers with a new challenge, creating and executing new customer solutions, while managing the impact of the pandemic on their own workforce. The post Servicers Adapt to Changing Times appeared first on DSNews. The post Servicers Adapt to Changing Times appeared first on Appraisal Buzz.

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Fintech Milo unveils crypto-mortgage refis

Housing Wire

Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. The new offering comes five months after the fintech’s 30-year crypto-mortgage purchase product came to market and reached $10 million in origination volume.

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Is Critical Thinking Really Necessary?

George Dell

Neither Critical, nor Thinking as words together are found in USPAP. Nor are they found in my copy of The Appraisal of Real Estate! Must be important. What is it? Do we need it? Is it worth the effort? I realized that although I have been promoting critical thinking in my classes […]. The post Is Critical Thinking Really Necessary? appeared first on George Dell, SRA, MAI, ASA, CRE.

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Fannie Mae: Consumers Reporting Housing Market Volatility Concerns

Appraisal Buzz

The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 0.8 points in August to 62.0, the sixth consecutive monthly decline of the index, according to their latest report. Surveyed consumers continue to express pessimism about homebuying conditions, especially in the home-selling segment of the housing market. Despite the minute change in the index, four of the six … The post Fannie Mae: Consumers Reporting Housing Market Volatility Concerns appeared first on DSNews.

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Prepare for 2023 with these HousingWire Annual panels

Housing Wire

Setting your sights on the future is important for any business owner, agent or loan officer looking to find success in the ever-changing housing market. At HousingWire Annual , plenty of speakers and panels will be looking ahead to 2023 and discussing the trends and changes that all industry professionals should be anticipating. . The Future of Marketing panel on Oct. 3rd will feature Rick Webster , Lender Price , Amy Moses, Escrow Tab , Sara Holtz, ICE Mortgage Technology and Cory Jo Vasquez,

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HUD Unveils $40M Funding to Protect Families From Safety Hazards

Appraisal Buzz

The U.S. Department of Housing and Urban Development (HUD) today announced the availability of $40 million through the Healthy Homes Production Grant Program to help transform communities by fixing older housing, preserving affordable housing, and improving communities and the health of children and families in these communities. “Access to safe, stable, and affordable housing is … The post HUD Unveils $40M Funding to Protect Families From Safety Hazards appeared first on DSNews.

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How mortgage companies can add revenue certainty in uncertain times

Housing Wire

Fast-rising rates. A staggering drop in mortgage applications. Skyrocketing inflationary costs. Falling stocks and layoffs making headlines for mortgage giants across the industry. The entire mortgage market is in flux like few times in history. As the lending arm of mortgage companies can no longer depend on new loans or the rate-based refinancing that’s kept them afloat throughout the pandemic, the value of mortgage servicing rights is serving as a lifeline.

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Restoration Value Magicians!

Appraiserblogs

And just like that, real estate appraisers from across the country have now added a new line item to their résumés, websites and marketing material: RESTORATION VALUE MAGICIAN. Oh wait, haven’t some AMCs and others already claimed to be such magicians when it comes to this topic? The pandering and save face attitudes of some of these organizations is concerning.

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How to Enhance Commercial Property Value Prior to Appraisal

Valcre

Appraisal of a commercial property refers to the assessment of the property’s fair market value. For property owners, getting a professional appraisal is absolutely necessary before mortgaging or selling their property. Appraisal of commercial properties can be a daunting task as appraisers come in multiple times to check the property and hold several discussions with stakeholders to determine its value.

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The Real Estate Market is Changing: Is Your Listing Agent Providing Top-Notch Services?

Eppraisal

For the past couple years, homes have been selling fast and home values have been increasing at record-breaking rates. The inventory of listed homes on the market has been historically low. This is starting to change, however and the market is starting to balance out. In many markets home sellers no longer have the leverage they did a few months ago.

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How to Find Profitable Vacation Rentals for Sale in North Carolina

Mashvisor

North Carolina is one of the most pleasant places on the East Coast. But is buying vacation rentals for sale in North Carolina a sound investment?

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Cupertino Real Estate Market Trends and Statistics

San Jose Real Estate

The real estate market in Silicon Valley can sometimes be a little quirky, so I like to approach this question from a few angles. In this article I'll make use of my charts from Altos Research, which uses listing data (not solds) and is automatically updated every week and also monthly reports from my RE Report subscription. Also I'll periodically update it with info from the MLS that I have crunched myself or anecdotal stories from those of us "in the trenches".

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Here’s What to Know Before Relocating

Lamacchia Realty

HERE’S WHAT TO KNOW BEFORE RELOCATING. Moving to a new area can be scary – you never know what to expect when you get there. But it doesn’t have to be! Being prepared is one of the most important things when it comes to relocating. By being prepared, you can be ready for anything that happens during the process. Before you even begin the process though, it’s also important to think about your reason for relocating to figure out exactly where you want to go.

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Guide to Houston Townhomes

Houston Properties

Located within Houston's most popular neighborhoods, townhomes are one of the fastest growing housing types in the Bayou city.

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How to Become a Real Estate Millionaire (NO Experience Necessary)

BiggerPockets

Want to become a millionaire? After this episode, you’ll have everything you need to start your journey to a seven-figure net worth through real estate investing. Most people think that […].

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2022 Update: 8 Intriguing Houston Real Estate Market Statistics

Houston Properties

Investing in a Houston real estate property? Learn how the Houston housing market is doing with these eight stats.

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Canada stress test - Real estate board says it's the right time to re-examine it

Mortgagebroker News

Major markets are seeing stronger housing market activity recently

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11 Killer Kitchens: Great Inspirations For Your Houston Kitchen Renovation

Houston Properties

See more kitchen ideas with these 11 hand-picked kitchen pictures. Awe-inspiring designs for your next Houston kitchen renovation.

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Poll: Mortgages are among the largest monthly expenses for many Canadians

Mortgagebroker News

However, less than two out of five Canadians take mortgages into account when developing budgets

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Complete Houston Home Guide

Houston Properties

Our site features comprehensive Houston home guides, real estate info, and Houston area resources.

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Equifax Canada reports latest consumer debt levels

Mortgagebroker News

Deceleration in housing market activity had only a minimal impact on new mortgage loan amounts

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Houston's Best & Worst Housing Markets

Houston Properties

Read this if you’re looking to buy or sell a home in Houston this year.

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Verification of Employment for Mortgage: How Does It Work

PennyMac

Before they can feel confident extending you a loan, lenders first need to understand your financial situation. This means collecting and analyzing some of your personal information. Your credit score, credit history, debt-to-income ratio (DTI), and assets are all relevant, and all play roles in informing the underwriting process. But one factor that borrowers sometimes overlook is the verification of employment.

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Webinar: How to Modernize Your Appraisal Process, Drive Revenue & Stay Competitive in Any Market

Clear Capital

The mortgage industry is ever-evolving. Advanced new technologies are proven to save lenders time and empower them to close loans faster and more confidently. However, keeping up with the latest mortgage tech can be a challenge. This webinar explores the current landscape of the mortgage industry – including modernization, updated GSE regulations, and more.

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Bank of Canada announces another big rate increase

Mortgagebroker News

The central bank continues to take aggressive action on inflation

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Infographic: Pet Policies Of Luxury Highrises In Houston

Houston Properties

Do you own pets and are considering living in a condo in Houston? We made a list of luxury pet-friendly Houston condos with their pet policies.

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Montreal housing market – continuous market slowdown underway

Mortgagebroker News

The region also saw its largest volume of listings year-to-date

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Expect more price corrections to the housing market 

Housing Wire

Price corrections are coming to housing markets across the United States, Black Knight said following July’s home price decline from June. Relatedly, tappable home equity is expected to pull back in the third quarter as equity-rich markets already saw declines in July. . Home prices in July slipped 0.77% from June, marking the largest single-month decline since January 2011, Black Knight said in its monthly mortgage monitor report.

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What's behind a successful mortgage product?

Mortgagebroker News

Vivienne Gauci on how HomeEquity Bank responds to its target market's needs

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Home price growth is slowing dramatically

Housing Wire

Annual home price growth slowed for the third consecutive month in July but remained historically high at 15.8%, according to the latest report by CoreLogic. The data and analytics firm singled out mortgage rates, which were around 5.5% in July, chilled interest in home purchases and helped ease overheated and unsustainable price growth. Home prices actually declined by 0.3% from June to July, which hasn’t happened in over a decade, CoreLogic said.

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Why Buy Land for Sale in Ohio in 2022? (7 Reasons)

The Robert Weiler Company

Why should you buy land in Ohio? While many factors contribute to moving or a business relocating, the lower costs of living and doing business in Ohio are very appealing compared to the coasts. Since 2016, over 40 new companies that employ nearly 10,000 workers and pay $625M in payroll have relocated to Ohio from the coasts. If that isn’t convincing enough, below are more reasons to buy land in Ohio to move or expand your business; or many commercial investors choose to buy Ohio land for