Tue.Nov 15, 2022

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Lending standards tighten due to high rates, worsening economic outlook

Housing Wire

Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said. The mortgage credit availability index (MCAI) fell by 0.5% to 102.0 last month, marking eight consecutive months of decline. This caused it to reach its lowest level since March 2013, according to the MBA.

Lending 481
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Mr. Always Right

The Appraiser Coach

In the appraisal world, people ask you questions all the time. Some of those questions you can prepare for, and others come completely out of left field. In either scenario, Read More.

Appraisal 284
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The role of borrower data in today’s housing market

Housing Wire

Insightful borrower data and enhanced tech solutions are paramount to success in today’s modern mortgage industry. HousingWire recently spoke with Dan Catinella, chief lending officer at Total Expert, about how Customer Intelligence technology is improving deal flow and pushing the customer experience into the 21st century. . HousingWire: As mortgage lenders continue to look for ways to cut costs amid a high-rate environment, where are some key areas that they should still look to innovate?

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Building Materials Prices Decline for Second Consecutive Month

Eyes on Housing

The prices of building materials decreased 0.2% in October (not seasonally adjusted) following a 0.5% decline in September according to the latest Producer Price Index (PPI) report. The index has decreased four of five months for the first time since 2015. The PPI for goods inputs to residential construction, including energy, was led 0.2% higher by prices of diesel fuel (+9.5%).

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Home appreciation led to big gains for the MMI Fund in 2022

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) noted in a briefing on Tuesday that it managed to record another banner year for the Mutual Mortgage Insurance (MMI) Fund. The FHA’s MMI Fund achieved a capital reserve ratio of 11.11% as of September 30, an increase of three percentage points compared to 2021, according to FHA’s Annual Report to Congress, released on Tuesday morning.

Insurance 407
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Single-Family Permits Decline in September 2022

Eyes on Housing

Over the first nine months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 800,424. On a year-over-year (YoY) basis, this is 7.4% below the September 2021 level of 864,184. Year-to-date ending in September, single-family permits declined in all four regions. The South posted a modest decline of 5.4%, while the Midwest region reported the steepest.

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Top DEI Bosses Have a Problem – Diversity

Appraiserblogs

The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions see as the enemy. If the lack of diversity of appraisers is inherently bad, how could the same not be said for the DEI bosses? A full 93 percent of U.S. birdwatchers are white. Just 4 percent are African-American and a paltry 1 percent are Asian-American.

Appraisal 115
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How to Avoid and Respond to Appraisal Board Complaints

McKissock

Disciplinary complaints against appraisers are becoming more and more common. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint. However, there are steps you can take to protect yourself against becoming the subject of a lawsuit or disciplinary action.

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Lisa Gray Qualifies for the 2022 Lamacchia Realty President’s Club

Lamacchia Realty

Lisa Gray has officially qualified for the 2022 Lamacchia Realty President’s Club by surpassing $16,000,000 in sales volume! This is Lisa’s first time achieving this accomplishment, and it is incredibly well deserved! Lisa is a hardworking REALTOR ® licensed in both MA and NH. Lisa’s passion is helping and giving back, and she loves building long-lasting relationships with her clients.

Realty 74
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Virtual Tours and Videos for Your Home's Listing

Eppraisal

Professional-quality still photos are one of the most important marketing tools used in listing homes for sale. According to an article published on April 14, 2021, on Statista.com, "In the 2018 survey, 93 percent of home buyers used online websites when searching for a home in the United States." That number is even higher today. Taking it a step further, videos and virtual tours are now trending more than ever in the world of real estate listings.

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Matt Czepiel Qualifies for 2022 Lamacchia Realty President’s Club ELITE

Lamacchia Realty

Matt Czepiel has officially qualified for the 2022 President’s Club ELITE by surpassing $24,000,000 in sales volume! It was just a matter of time before Matt was going to reach this impressive achievement, as he qualified for President’s Club in 2019 , 2020 , 2021 , and 2022. Additionally, he was named a Top Producer company-wide in both 2021 and 2020.

Realty 74
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Sounding The Alarm: Two Lines Just Crossed. Here’s Why Investors Need To Be Really Careful.

BiggerPockets

You’ve heard about the blue pill and the red pill. But have you heard about the blue line and the green line? You should. Because they recently crossed. Which could […].

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Christin Piccirilli Named Lamacchia Realty Employee of the Month – October 2022

Lamacchia Realty

Behind the incredible REALTORS ® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned-brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views its staff members in the highest regard, fostering the values the full-service, value-based brokerage prides itself on.

Realty 68
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Housing Inventory in Atlanta Will Not Jump in 2023

Hank Miller Team

As we enter the final weeks of 2022, the national real estate market is catching its breath. Some markets remain in flux, others have started to level off already. Atlanta is one of the steady ones, and housing inventory in Atlanta will not jump in 2023. This is due to several reasons and while 2023 will likely continue the post pandemic “malaise”, the Greater Atlanta housing market remains one of the most stable in the nation.

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Investing in 100-Year-Old Homes Straight Out of College and the “PRR” Method

BiggerPockets

To have something you’ve never had, you have to be willing to do something you’ve never done before. Today’s guests, Amy Wright and Mitch Mathern are doing something most people haven’t seen before, a twist on the BRRRR […].

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MERIX celebrates top originators through status reward trip in Milan

Mortgagebroker News

The seven-day trip saw the company express its "deep appreciation" for brokers' support

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What You Should Know About Building Code Requirements in Florida

Lamacchia Realty

WHAT YOU SHOULD KNOW ABOUT BUILDING CODE REQUIREMENTS IN FLORIDA. Whether building a new home or renovating it, you must follow building codes. After all, it makes sense since this ruleset is meant to ensure the building is safe when complete. If you don’t follow these rules, you will face legal issues in the future, so always pay attention. However, building codes are pretty intimidating to most people, as they are extensive and sometimes complicated.

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How does Canadian housing affordability fare versus other G7 nations?

Mortgagebroker News

The OECD's latest quarterly survey offers insights into the G7’s comparative housing prices

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What happens during a home appraisal?

AmeriMac

When you are selling your home, there are a million things to do, and a home appraisal is one of them. Even when you have your offer, the deadly hasn’t been done yet. There are a number of steps ahead of you that could affect whether you close, and one of those is the home appraisal. Getting the home appraisal is a process where a professional assessor figures out the value of a home with precision.

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Exec on how brokers should enlighten the consumer

Mortgagebroker News

"We rely on the expertise of our broker partners to the market to educate those borrower"

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Seattle’s History With Its One – and Only – Gas Works Operator

Will Springer Realtor

Credit John Olmsted and stepbrother Frederick for helping to design Seattle’s first parks. Their master plan in 1903 laid out a range of parks, boulevards and other greenspaces across the city. The Massachusetts-based landscape architects, whose family is best known for designing New York’s Central Park, presented ideas for massive natural spaces across Seattle that are today beautiful parks known as Seward, Woodland and Discovery.

Design 36
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Construction investment slows down in September

Mortgagebroker News

The residential segment accounted for much of the deceleration, Statistics Canada says

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Airbnb Rental Estimate: How Much Money Will You Make?

Mashvisor

Calculating Airbnb rental estimate is essential before investing. Fortunately, the process isn’t as complicated as many investors would think.

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Leading lenders on the value of specialized lending solutions

Mortgagebroker News

Executives talk current market, what brokers should keep top of mind

Lending 68
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loanDepot ends repurchase agreement, shrinks funding capacity

Housing Wire

California-based mortgage lender loanDepot terminated a master repurchase agreement (MRA) with J.V.B. Financial Group, reducing its funding capacity amid sharply decreasing originations. “The maximum amount available for financing of mortgage loans and mortgage-related securities available under the MRA and certain ancillary documents was $750 million,” according to loanDepot’s 8-K filing disclosed on Tuesday.

Finance 383
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What demographic is disproportionately affected by inflation?

Mortgagebroker News

This segment will also be the most affected by the looming recession, BoC governor says

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Canada home sales rise in October

Mortgagebroker News

The news marks their first increase in eight months

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Canada's mortgage stress test – leading lenders weigh in

Mortgagebroker News

Is a more dynamic approach required?