Housing Wire

JULY 6, 2022

Non-QM lender Sprout Mortgage is shutting down operations, multiple workers said on Wednesday. The company informed workers of the shut down in a conference call on Wednesday, a former staffer said. Sprout had already instituted several rounds of job cuts in the months leading up to the shutdown, the ex-employee said. The closure of Long Island-based Sprout, headed by industry veteran Michael Strauss, represents the second non-QM mortgage lender to close in recent weeks amid historic volatility.

Mortgage 500

Mortgage Retail Investors Business 500

Sacramento Appraisal Blog

JULY 6, 2022

A quick change in rates has led to a quick change in the housing market. We didn’t see much difference right away in the stats, but we are finally getting some good numbers now. Let me show you what I mean. UPCOMING (PUBLIC) SPEAKING GIGS: 7/15/2022 Lunch & Learn Big Market Update (sign up here)) […].

Housing Market 448

Housing Market Marketing Contracts Buyers 448

Housing Wire

JULY 6, 2022

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. This typically happens in a recession, however, the notion that credit lending in America will collapse as it did from 2005 to 2008 couldn’t be more incorrect, as we haven’t had a credit boom in the period between 2008-2022. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collaps

Lending 485

Lending Mortgage Business Inventory 485

Appraisal Buzz

JULY 6, 2022

HOUSTON, TX (July 6, 2022) – Accurity Consolidated is once again turning heads and taking its place as the highlight of appraisal industry conversations. The company’s innovative team of appraisers continue to set impressive goals and break records that are simply unheard of among the competition. Since launching in 2020, Accurity has made it a mission to push the boundaries of what appraisal teams can accomplish through industry-leading turn times and service levels provided to clients.

Appraisal 397

Appraisal Clients Marketing 397

Housing Wire

JULY 6, 2022

Wells Fargo, the third-biggest mortgage lender in the country, will lay off 125 employees in its home lending division in Iowa by the end of August. The bank will cut 11 jobs in July and 114 in August, according to Worker Adjustment and Retraining Notification (WARN) notices submitted to the Iowa Workforce Development. The bank eliminated 72 mortgage jobs in Iowa across earlier layoffs.

Mortgage 410

Mortgage Lending Business Development 410

Cleveland Appraisal Blog

JULY 6, 2022

In one Facebook group the other day, (yes, I’m back on Facebook ) one member mentioned they feel that a person who scans a property to provide an appraiser with a floor plan should be licensed. What do you think? In this article, I thought I would share my thoughts on this and whether scanning a property with Cubicasa is considered to be an appraisal inspection.

Inspection 369

Inspection Appraisal Technology Clients 369

Appraisal Buzz

JULY 6, 2022

BLOG VIEW: Shifting borrower employment trends could mean incremental work for mortgage lenders when they are looking to find efficiencies. This year, mortgage lenders have contended with fluctuating markets, rising interest rates, regulatory pressures, and competition. Volatility in the market and a changing workforce have made a risky landscape even more challenging.

Marketing 195

Marketing Appraisal Mortgage 195

Housing Wire

JULY 6, 2022

The federal banking regulators responsible for overseeing the Community Reinvestment Act (CRA) obligations of lenders they regulate have released the 2022 list of distressed or underserved rural census tracts where community-development loans, investments and services are eligible for special CRA consideration. Community-development efforts eligible for the special consideration include affordable-housing lending in these lower-income rural census tracts.

Lending 382

Lending Development Insurance Investing 382

Appraisal Buzz

JULY 6, 2022

Daniel Forshey has been promoted to chief operating officer while Sady Mauldin has been promoted to chief compliance officer at Click n’ Close (formerly known as Mid America Mortgage), a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels. Mauldin is a seasoned attorney with more than 15 years of experience.

Mortgage 195

Mortgage Appraisal 195

Housing Wire

JULY 6, 2022

Fewer applications show borrowers’ demand for mortgage loans fell this week, despite a decline in rates due to concerns of an economic recession, according to the Mortgage Bankers Association (MBA). . The survey, which includes adjustments to account for the long Fourth of July weekend, shows mortgage applications down 5.4% for the week ending July 1, compared to a week earlier. .

Mortgage 381

Mortgage Retail Contracts Inventory 381

Appraisal Buzz

JULY 6, 2022

The Data & Analytics division of Black Knight Inc. has released its latest Mortgage Monitor Report, based upon the company’s mortgage, real estate and public records datasets. This report looks at recent cooling in the annual rate of home price appreciation and the intertwined impacts of both affordability and inventory on those trends. According to Black Knight Data & Analytics President Ben Graboske, May marked the second consecutive month of cooling at the national.

Inventory 195

Inventory Marketing Real Estate Appraisal 195

Housing Wire

JULY 6, 2022

Subsidiaries of Pennymac Financial Services Inc. (PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights. The transactions include a note offering of $305 million sponsored by PFSI subsidiary PennyMac Mortgage Investment Trust that is “secured by certain participation certificates relating to Fannie Mae mortgage servicing rights [MSRs],” states a recent f

Investing 380

Investing Finance Mortgage Market Value 380

Appraisal Buzz

JULY 6, 2022

The median monthly asking rent in the U.S. surpassed a whopping $2,000 for the first time in May —rising 15% year-over-year to a record high of $2,002— according to a new report from Redfin. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain. “More people are opting to … The post Austin Rents Skyrocket Nearly 50% YoY appeared first on DSNews.

Appraisal 195

Appraisal 195

Housing Wire

JULY 6, 2022

Lender and servicer New Residential Investment Corp. laid off originations staffers last week, sources told HousingWire. The lender has made several rounds of cuts since February. Employees in processing, underwriting, and closing jobs were the main targets in the last week’s layoff round, according to multiple interviews with former employees. . The latest layoff affected employees in both junior and senior roles.

Investing 378

Investing Real Estate Business Mortgage 378

Appraisal Buzz

JULY 6, 2022

Mortgage lender Guaranteed Rate has launched its new RED-VP mobile app. This end-to-end digital tool is designed to act as a mobile pipeline, empowering loan officers to accomplish anything from issuing a pre-approval letter to locking in a rate, all in real time and all fully remote using just their smart phone. “Guaranteed Rate is dedicated to developing incredible fintech solutions that make a real difference for our loan officers and their customers,” says.

Tools 195

Tools Loan Officers Design Development 195

George Dell

JULY 6, 2022

A valuation model may not be a model valuation. What happened with that sentence? It’s called “equivocation.” Something I learned about in my college English class. What I learned is that a word can be used for different meanings. Equivocation can be used to make language more colorful – to entice, to irritate, or to […]. The post What is a Valuation Model?

Valuation 195

Valuation Appraisal 195

Appraisal Buzz

JULY 6, 2022

Today’s Buzzcast interview is with Hal Humphreys, Partner and Director of Education for Appraiser eLearning. We sat down with Hal and Joan Trice, Founder of Allterra Group, LLC, to discuss his upcoming CE panel at Valuation Expo, “ Gold Standard Appraisal Report. ”. What is the “Gold Standard”? What will appraisers learn in this CE session? What role does social media play in this?

Appraisal 195

Appraisal Valuation 195

Eyes on Housing

JULY 6, 2022

The construction labor market remains tight, but the total number of open construction sector jobs has likely reached a cyclical peak as economic activity slows in response to tighter financial conditions. The count of open construction jobs was little changed in May, falling from 440,000 in April to 434,000. The April reading remains the highest measure in the history of.

Construction 153

Construction Marketing 153

Appraisal Buzz

JULY 6, 2022

Mortgage Bankers Association (MBA) reports that mortgage applications decreased 5.4% on a seasonally adjusted basis from one week earlier, according to data from its Weekly Mortgage Applications Survey for the week ending July 1, 2022. This week’s results include a holiday adjustment to account for early closings the Friday before Independence Day. On an unadjusted basis, the Market Composite Index increased 6% compared with the previous week.

Mortgage 195

Mortgage Appraisal Marketing 195

Eyes on Housing

JULY 6, 2022

Per the Mortgage Bankers Association’s (MBA) survey through the week ending July 1, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate reaching 5.8% on average. The latest week’s rate decreased to 5.74%, declining for the second straight week but still above pandemic levels. The Market Composite Index, a measure of mortgage loan application volume, decreased by 5.4%.

Mortgage 144

Mortgage Marketing Inventory 144

Appraisal Buzz

JULY 6, 2022

Following recent confirmation by the U.S. Senate, HUD Deputy Secretary Adrianne Todman has issued the oath of office to Vinay Singh, HUD’s newest administrator of instituting financial integrity, fiscal responsibility, and accountability. The post Vinay Singh Sworn in as HUD CFO appeared first on DSNews. The post Vinay Singh Sworn in as HUD CFO appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Appraiserblogs

JULY 6, 2022

How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based? Attorneys representing property owners and appraisers responsible for documenting the value of the property being taken often work together in an eminent domain case. The appraiser develops an independent opinion of value for the property through an appraisal, and the attorney ensures that the appraisal is sufficient to support a just compensation determination in what is esse

Valuation 123

Valuation Legal Appraisal Development 123

Appraisal Buzz

JULY 6, 2022

An examination of institutional home buyers by NAR found that this segment of buyers comprised 13.2% of the nation’s residential property sales in 2021, up from 11.8% in 2020. The post Institutional Buyers Account for 13% of Residential Sales in 2021 appeared first on DSNews. The post Institutional Buyers Account for 13% of Residential Sales in 2021 appeared first on Appraisal Buzz.

Buyers 195

Buyers Appraisal 195

Empire Appraisal Group

JULY 6, 2022

Fla. Unlikely to Feel Impact from Slowing Market. Wary buyers and rising interest rates may affect some U.S. markets, but Fla.’s rising demand and lack of construction will probably offset a potential cooldown. WEST PALM BEACH, Fla. – Six of the nation’s top 25 most overvalued housing markets are in the Sunshine State, which can expect to see a “prolonged period of unaffordability” even as prices in other regions of the country cool.

Marketing 78

Marketing Landlords Real Estate Tenants 78

Appraisal Buzz

JULY 6, 2022

Today, the Data & Analytics division of Black Knight, Inc. released its latest Mortgage Monitor Report, looking at recent cooling of annual rate of home price appreciation and the intertwined impacts of both affordability and inventory on those trends. According to Black Knight Data & Analytics President Ben Graboske, May marked the second consecutive month … The post Home Price Growth Slows in Largest U.S.

Housing Market 150

Housing Market Marketing Inventory Appraisal 150

Riverfront Appraisals

JULY 6, 2022

Over the years, we’ve heard it all. Misunderstandings about the appraisal process are plentiful, and some of those really do affect the way you do business. So this post will address (albeit briefly) five of the most common myths we’ve heard. We’ll set the record straight, and give you greater confidence the next time one […]. The post Appraisal Blog The Realtor’s Guide to Appraisals Part 7: Common Myths About Appraisals appeared first on Riverfront Appraisals.

Appraisal 78

Appraisal Appraisal Process Business Housing Market 78

Appraisal Buzz

JULY 6, 2022

Today’s Buzzcast interview is with Hal Humphreys, Partner and Director of Education for Appraiser eLearning. We sat down with Hal and Joan Trice, Founder of Allterra Group, LLC, to discuss his upcoming CE panel at Valuation Expo, “Gold Standard Appraisal Report.”. What is the “Gold Standard”? What will appraisers learn in this CE session? What role does social media play in this?

Appraisal 195

Appraisal Valuation 195

McKissock

JULY 6, 2022

Real estate transactions are similar to putting together a jigsaw puzzle. Every transaction involves multiple parties, motives, challenges, and timelines. One of the main responsibilities of a real estate agent is to effectively organize all the competing interests of a transaction (or pieces of the jigsaw puzzle). The end goal is that at the end of the process all the pieces of the puzzle add up to a successfully closed deal.

Clients 87

Clients Real Estate Contracts Sellers 87

Appraisal Buzz

JULY 6, 2022

The median monthly asking rent in the U.S. surpassed a whopping $2,000 for the first time in May —rising 15% year-over-year to a record high of $2,002— according to a new report from Redfin. That’s on par with April’s annual increase of 15%, but a slowdown from March’s 17% gain. “More people are opting to … The post Austin Rents Skyrocket Nearly 50% YoY appeared first on DSNews.

Appraisal 195

Appraisal 195

Mashvisor

JULY 6, 2022

Just like that, mortgage rates today are up again as we enter July. While June gave us a bit of a breather, July came in strong with a huge jump.

Mortgage 74

Mortgage Investors Finance Real Estate 74

Lamacchia Realty

JULY 6, 2022

WHAT DOES “BROOM CLEAN” MEAN? People will often see “broom clean condition” on real estate contracts and rental leases but are unsure about what it means. While it obviously refers to how clean you should leave your home or apartment for its next tenants, exactly how clean is broom condition clean? This term comes with different expectations based on whether you rent or own your home.

Landlords 59

Landlords Tenants Decorating Contracts 59

Mashvisor

JULY 6, 2022

Experienced and beginner realtors alike should focus their attention on Las Vegas homes for sale in 2022 as the market is on a steady rise.

Investing 67

Investing Realtors Marketing Investors 67

BiggerPockets

JULY 6, 2022

Running a successful rental property business seems like managing a never-ending list of “to-dos.” First, landlords and rental property owners must deal with collecting monthly rent, screening prospective tenants, and […].

Landlords 63

Landlords Real Estate Tenants Business 63

Mortgagebroker News

JULY 6, 2022

The prominent executive hailed the strength of the new board of directors as the association looks ahead

69

69