Wed.Feb 24, 2021

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Mortgage delinquencies below 6% for first time since March

Housing Wire

For the first time since March 2020, the national mortgage delinquency rate fell below 6% to 5.9% in January, according to data from Black Knight on Wednesday. At the current rate of improvement, the data giant estimates 2.1 million borrowers remain 90 or more days past due though are not yet in foreclosure. While modest mortgage delinquency improvements have occurred for several months, loans considered seriously delinquent are still five times that of pre-pandemic levels.

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Epic Fail: The Appraisal Institute IRS 990s Show They Needs To Do A 180

Miller Samuel

As I've chronicled in the Appraiserville section of my Housing Notes newsletter since 2016, the scale of bureaucratic self-dealing of the executive committee and some members of the board of directors is breathtaking. Over the past decade or more, AI National has been able to keep a lid on the membership backlash by threatening to remove a member's credentials for speaking out.

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Zillow’s role in CoStar’s failed RentPath buy

Housing Wire

Fresh off the acquisitions of Homesnap , Emporis and Ten-X , real estate data behemoth CoStar Group beat Wall Street’s estimates in the fourth quarter. Just as interesting was what CoStar’s executives had to say about the $6.9 billion takeover bid for residential data firm CoreLogic , and why Zillow hasn’t really entered their orbit.

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Unaffordable Affordability?

Appraiserblogs

If we value higher, what about affordability?… A great deal of economic, social, and political talk has been around affordability of housing. To explore this topic, it may be helpful to ask some questions. Good policy starts with the right questions. In simplest terms, some people have the resources to have nice homes in nice neighborhoods, others have just tolerable homes for shelter.

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Notarize offers free notarizations to fight racist title language

Housing Wire

Digital notary startup Notarize is now offering free notarizations in an effort to eliminate racial covenants in title insurance documents. The issue came to light after real estate brokerage Windermere Real Estate earlier this month publicized the existence of title documents with racist language such as “no person or persons of Asiatic, African or Negro blood, lineage, or extraction shall be permitted to occupy a portion of said property” as well as “this property shall not be resold, le

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February 2021 Texas Real Estate Market Update

Listing Spark

Well folks, if you’re wondering if the market has cooled off at all now that we have rolled in to 2021, it hasn’t. In fact it’s been quite the opposite. We are still seeing historically crazy numbers across the board. Indicating that not only are we firmly planted in a seller’s market, but a historically crazy seller’s market.

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New Report Proves Owning a Home Is Cheaper Than Renting

BiggerPockets

The data is in: In many parts of the country, owning a home is cheaper than renting. in most metro areas. Learn more here.

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How 2020 exposed a greater need for collaboration between real estate agents and LOs

Housing Wire

HousingWire recently spoke with Propertybase CEO Vance Loiselle about real estate tech and how the past year has accelerated the need for digital collaboration tools across the entire customer journey. HousingWire: What role has the increase in technology played for both businesses and consumers in the real estate space? Vance Loiselle: In the 20th century, the primary technology innovations in real estate were the telephone and the MLS.

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Why 2021 is a Good Time to Start an Appraisal Business and How to Do It

Real Quantum

Why 2021 is a Good Time to Start an Appraisal Business and How to Do It. I nterested in starting a commercial real estate appraisal business this year? The process of moving from employee to being your own boss may not be as complex as you think. So, with that in mind, let’s take a closer look. An Unexpected Boom in Business. Last year, the US suffered a stark rise in unemployment, primarily due to the effects of the pandemic, and plenty of North American states are suffering from its consequen

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Texas storm deflates mortgage application numbers

Housing Wire

Mortgage applications decreased 11.4% from one week earlier , according to data from the Mortgage Bankers Association’s weekly survey for the week ending Feb. 19. It’s the lowest level applications have fallen to since December 2020. Activity decreased across the board, with the unadjusted index (-10%), the refinance index (-11%), the seasonally adjusted purchase index (-12%) and the unadjusted purchase index (-8%) all falling from the previous week.

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BiggerPockets Podcast 446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston

BiggerPockets

Have you ever had analysis paralysis? Maybe you have it right now and that’s why you’re listening to this episode! Kyle and Lauren Clugston would call that “productive procrastination”, and […].

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How lenders can greatly reduce borrower income analysis time

Housing Wire

As record-low mortgage rates spurred high origination volumes in 2020, lenders across the housing industry looked for ways to fulfill borrowers’ needs in the most efficient, streamlined manner possible. For many lenders, the past year put a magnifying glass on processes that could not withstand the unparalleled volume. And while it was tempting to say they were too busy to implement new solutions, many companies found that to stay ahead of the competition, new workflow improvements were vital.

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Even with high lumber prices, new home sales beat

Housing Wire

Extreme increases in lumber prices have caused some people to go bearish on new home sales. Not this one! If we play a version of rock, paper, and scissors with lumber prices and mortgage rates, mortgage rates will win. Mortgage rates have a much more significant influence on the new home sales market than lumber prices, even at their current highs.

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How homebuilders are competing in this crazy market

Housing Wire

New home sales in 2021 picked up right where they left off in 2020, near their highest levels in more than a decade thanks to low inventory. The state of the market means increased competition among homebuilders, who are grappling with how to keep prices affordable as their own costs rise. Sales of new single-family houses in January were at a seasonally adjusted annual rate of 923,000 — 4.3% above December’s rate, and a whopping 19.3% higher than original estimates by the U.S.

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