Housing Wire

OCTOBER 27, 2021

Mortgage applications increased 0.3% from last week, per the latest report from the Mortgage Bankers Association for the week ending Oct. 22, 2021. With two consecutive weeks of mortgage rates over 3%, refinances continued to retreat. The refinance share of mortgage activity decreased to 62.2% of total applications, down from 63.3% the week prior. The refinance index was down 2% from the week prior, a staggering 26% lower than it was the same week last year.

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Sacramento Appraisal Blog

OCTOBER 27, 2021

What’s going to happen to the housing market? Is it going to crash? That’s a huge question as so many people are wondering how long price growth can continue. Let’s talk about this today by focusing on some of the bigger topics in this conversation. Spoiler alert. This isn’t a YES or NO sort of […].

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Housing Wire

OCTOBER 27, 2021

Between a pandemic and record-breaking origination volume, the appraisal industry has never had to be as nimble as it is now. In an effort to keep homeowners safe while also still providing quality valuations, appraisers have been leaning heavily on technology for the past year and a half. HW+ Managing Editor Brena Nath had the opportunity to catch up with Global DMS President and CEO Vladimir Bien-Aime at MBA Annual to talk more about what’s next for the appraisal industry in terms of technolog

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Appraisal Buzz

OCTOBER 27, 2021

“A New Appraiser Discusses his Journey into the Industry” was originally published in May 2021. In this Buzzcast, we have Marcus Knight, a recently licensed appraiser diving into his firsthand account with the Appraiser Diversity Initiative (ADI) by Fannie Mae and the challenges facing trainee appraisers today. In addition to sitting down with us, Marcus also wrote an article for us below about his journey in this industry.

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Housing Wire

OCTOBER 27, 2021

The pandemic, stellar vacation-home sales and regulatory turbulence combined in 2021 to spark a boom in private-label securitizations backed by mortgages on second homes and investment properties. A total of 37 such deals were completed through October of this year involving more than 51,000 mortgages on properties that were not a primary residence (in other words, second homes and investment properties), according to HousingWire’s analysis of private-label securitization deals over the period.

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Appraisal Buzz

OCTOBER 27, 2021

Trustmark National Bank , a Jackson, Mississippi-based company founded in 1889, will pay a $5 million penalty to the Consumer Financial Protection Bureau (CFPB) for discriminating against Black and Hispanic neighborhoods by deliberately not marketing, offering or originating home loans to consumers in majority-Black and Hispanic neighborhoods in the Memphis metropolitan area.

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Appraisal Buzz

OCTOBER 27, 2021

The refinance share of mortgage origination volume in August increased to 52%, up from 49% in July but down from 56% in August 2020, according to ICE Mortgage Technologies’ Origination Insight Report. The average time to close a mortgage (all loans) decreased to 46 days, down from 48 days in July. The average time to close a refinance decreased to 43 days, down from 47 days the month prior.

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Housing Wire

OCTOBER 27, 2021

CFPB Director Rohit Chopra. Consumer Financial Protection Bureau Director Rohit Chopra, in his first report to Congress, answered for decisions made by his predecessor, and provided some indication of his priorities going forward. Lawmakers questioned Chopra on the postponement of the qualified mortgage rule and how he is prioritizing enforcement areas.

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Appraisal Buzz

OCTOBER 27, 2021

The refinance share of mortgage origination volume in August increased to 52%, up from 49% in July but down from 56% in August 2020, according to ICE Mortgage Technology’s Origination Insight Report. In June and July, purchase volume eclipsed refinance volume for the first time in months, but in August falling mortgage rates swung refinance volume back to above 50%.

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Housing Wire

OCTOBER 27, 2021

The Office of the Comptroller of the Currency ( OCC ) issued a consent order against Cenlar FSB, the nation’s second-largest mortgage servicer, over “unsafe or unsound practices,” the regulator said this week. . The consent order states that New Jersey-based Cenlar cannot take on new subservicing clients without explicit approval from the OCC.

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Appraisal Buzz

OCTOBER 27, 2021

Covius Holdings Inc. , a provider of technology-enabled solutions to the financial services industry, has completed the acquisition of Florida-based Nationwide Title Clearing LLC (NTC). Approximately 670 NTC associates and senior management have now joined Covius. Founded in 1991, NTC is a provider of lien release and other document production services as well as research and file services for originators, servicers and the capital markets sector.

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George Dell

OCTOBER 27, 2021

A vary good question! As I have often contended: The problem with statistics is. words. Appraisal has been accused of being a “cottage industry.” Grrrr. How can this be? Here, too, part of the problem is words. We have continued to use, enforce, and teach outmoded ways and words. Ways and words […]. The post Does a Variable Vary? Part I appeared first on George Dell, SRA, MAI, ASA, CRE.

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Appraisal Buzz

OCTOBER 27, 2021

FOMO, or the fear of missing out, is a type of anxiety that stems from the belief that others might be having fun or doing better while you are not. Most people are not immune to FOMO and new research by the STRATMOR Group has found that mortgage lenders are not immune to this feeling either. In response to the question … The post Better Technology Doesn’t Necessarily Mean Better Profits appeared first on theMReport.com.

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Eyes on Housing

OCTOBER 27, 2021

Thanks to a surge in residential investment during 2020, housing’s share of GDP remains elevated compared to recent years. Last year’s market conditions involved a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of for-sale inventory. Housing has continued to expand in 2021, although as the rest of the economy recovers, the housing.

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Appraisal Buzz

OCTOBER 27, 2021

Covius Holdings, Inc. (Covius), a provider of technology-enabled solutions to the financial services industry, announced that it has completed the acquisition of Palm Harbor, Florida-based Nationwide Title Clearing, LLC (NTC) and that approximately 670 NTC associates and senior management have joined Covius. Founded in 1991, NTC is a provider of lien release and other document production services as well as research and file services for originators, … The post Covius Acquires Nationwide

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GoForrmz

OCTOBER 27, 2021

Streamline recruitment, onboarding, time-tracking, and employee management with digital human resources forms HR departments are a critical part of a business linking the organization’s management and the employees. Human Resources ensures that qualified candidates are hired, employees are easily onboarded to the team, and help to maintain high employee satisfaction.

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Appraisal Buzz

OCTOBER 27, 2021

Mortgage servicer to take comprehensive corrective actions to address identified deficiencies, and implement internal controls and risk management practices. The post OCC Delivers Consent Order Against Cenlar appeared first on DSNews. The post OCC Delivers Consent Order Against Cenlar appeared first on Appraisal Buzz.

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Eyes on Housing

OCTOBER 27, 2021

In the first quarter of 2018, only 15% of prospective buyers were looking for a newly built home. The onset of COVID-19 propelled that share up to 42% by the final quarter of 2020, but strong gains in new home prices have driven it down for the last three quarters, reaching 32% in the third quarter of 2021. Meanwhile, the.

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Appraisal Buzz

OCTOBER 27, 2021

Angel Oak Companies, a leading vertically integrated asset manager delivering mortgage and consumer credit solutions, has announced that David Raju has been appointed its Group Chief Information Officer. Raju was previously the founder and CEO of Covience, an advisory services and banking-as-a-service platform that was acquired by Angel Oak in September 2021.

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Appraisal Hub

OCTOBER 27, 2021

A professional real estate appraisal can help determine the real market value of a property. It is usually required by lenders, so you need it when applying for a mortgage to buy real estate or refinancing your current mortgage. You will also need an appraisal if you want to use the property as collateral to get a small business or cash loan. Selling a real estate asset?

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Appraisal Buzz

OCTOBER 27, 2021

Mortgage applications increased 0.3% from one week earlier, according to data from the Mortgage Bankers Association ‘s (MBA) Weekly Mortgage Applications Survey for the week ending October 22, 2021. The Market Composite Index, a measure of mortgage loan application volume, increased 0.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.2% compared with the previous week.

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Valuation Review

OCTOBER 27, 2021

It is the time of the season where a good scare is usually just around the corner. In the McKissock Learning post “Terrifying Encounters from Real-Life Appraisers,” the company recounted a few “scary” propositions that came an appraiser’s way when examining certain properties. Read on for more "haunting" details.

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Appraisal Buzz

OCTOBER 27, 2021

CoreLogic has released its latest Mortgage Fraud Report. The report shows a 37.2% year-over-year increase in fraud risk at the end of the second quarter of 2021, as measured by the CoreLogic Mortgage Application Fraud Risk Index. The significant increase for mid-2021 follows a large drop seen in 2020 – a decrease driven mainly by the surge in traditionally low-risk refinances during the pandemic.

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McKissock

OCTOBER 27, 2021

Good news for agents working with first-time home buyers on a budget: after nearly two years of ultra-low inventory and rising property values, small, affordable homes are starting to hit the market at a steady rate. According to a recent article in Business Insider , the month of July saw a 6.5% rise in new listings, most of which were reasonably priced for buyers looking to break into the market after getting pushed out during the 2020 real estate rush.

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Appraisal Buzz

OCTOBER 27, 2021

Economists have found that improvements in the economy and a rise in wage growth will continue to push mortgage rates upward and decrease consumer house-buying power as 2021 bleeds into 2022. The post Rise in Rates to Impact Consumer Affordability appeared first on DSNews. The post Rise in Rates to Impact Consumer Affordability appeared first on Appraisal Buzz.

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BiggerPockets

OCTOBER 27, 2021

A decade ago, Chandler David Smith was a broke college student. After searching for jobs, he was given the opportunity to try his hand at door-to-door pest control sales. The […].

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Appraisal Buzz

OCTOBER 27, 2021

U.S. home price appreciation reached 20.7% in August 2021, marking the third straight month it has reached a new record mark, according to the latest findings by First American. The post House Price Appreciation Sets Record for Third Consecutive Month appeared first on theMReport.com. The post House Price Appreciation Sets Record for Third Consecutive Month appeared first on Appraisal Buzz.

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BiggerPockets

OCTOBER 27, 2021

The data is in about why institutional investors have been purchasing mobile home parks. And it’s quite surprising. Sam Zell, one of America’s most successful real estate investors, was right. […].

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Appraisal Buzz

OCTOBER 27, 2021

With rates on the rise, a slight uptick in purchase apps compensated for a slide in refinance apps, which hit lows last seen in January 2020. The post Refi Activity Hits 20-Month Low appeared first on theMReport.com. The post Refi Activity Hits 20-Month Low appeared first on Appraisal Buzz.

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Valuation Review

OCTOBER 27, 2021

Big Purple Dot, provider of an ecosystem of mortgage marketing technologies, has added SMS/MMS video marketing to its all-in-one CRM lead management platform. The new SMS/MMS video tool empowers mortgage professionals to engage and retain customers in today’s highly competitive lending environment.

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Appraisal Buzz

OCTOBER 27, 2021

FOMO, or the fear of missing out, is a type of anxiety that stems from the belief that others might be having fun or doing better while you are not. Most people are not immune to FOMO and new research by the STRATMOR Group has found that mortgage lenders are not immune to this feeling either. In response to the question … The post Data Points to Disconnect Between Tech Spending and Lender Productivity appeared first on DSNews.

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Valuation Review

OCTOBER 27, 2021

New Residential Investment Corp. recently entered into a definitive agreement with affiliates of The Goldman Sachs Group, Inc. to acquire Genesis Capital LLC, a leading business purpose lender that provides innovative solutions to developers of new construction, fix-and-flip and rental-hold projects and acquire a related portfolio of loans.

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Appraisal Buzz

OCTOBER 27, 2021

Additional disclosure requirements drafted to promote market discipline and risk management practices at both Fannie Mac and Freddie Mac. The post FHFA Seeks Comment on New GSE Disclosure Requirements appeared first on DSNews. The post FHFA Seeks Comment on New GSE Disclosure Requirements appeared first on Appraisal Buzz.

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Valuation Review

OCTOBER 27, 2021

CondoTek recently acquired National Condo Advisors (NCA). The two companies said they will leverage their expertise in the condominium-lending market and grow their customer base through product breadth and targeted services.

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