Mon.May 24, 2021

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NAR: Almost 50% of homes sold for more than list price

Housing Wire

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. Per the report, homes that sold had five offers on average , and nearly 50% of homes sold for more than their list price during the four weeks ending May 16. NAR expects home prices in the next three months to increase nearly 6% from one year ago and will increase almost 3% from last year’s sales level.

Realtors 467
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Deephaven Adds Andrew Spicer to Lead Correspondent Client Development

Appraisal Buzz

Non-QM residential mortgage loan provider adds 30-year veteran as its new VP of Correspondent Client Development. The post Deephaven Adds Andrew Spicer to Lead Correspondent Client Development appeared first on theMReport.com. The post Deephaven Adds Andrew Spicer to Lead Correspondent Client Development appeared first on Appraisal Buzz.

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Forbearance numbers drop for third consecutive month

Housing Wire

The total number of loans in forbearance managed to fall three basis points last week to 4.22% of servicers’ portfolio volume, according to a report from the Mortgage Bankers Association. A drop-off in the number of exits did mark a slower decline than in recent weeks, however, Monday’s data still marks three consecutive months of downward trend for forbearance volume.

Mortgage 429
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Forbearances Fall With Job Market in Recovery Mode

Appraisal Buzz

With more Americans returning to the workforce, the number of homeowners in forbearance plans dropped for the 12th straight week. The post Forbearances Fall With Job Market in Recovery Mode appeared first on DSNews. The post Forbearances Fall With Job Market in Recovery Mode appeared first on Appraisal Buzz.

Marketing 370
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Wire Fraud: Are you the weakest link?

Housing Wire

It’s the moment everyone fears: in the frenzy to close a house sale, commitment to fraud preventions falters. Busy professionals involved in the sale override their own cautions about fending off wire fraud by reverting to tried-and-true email addresses to convey the most sensitive financial information. Trying to keep with the drive to the finish line, the harried consumer let down their guard.

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Deephaven Mortgage Hires Andy Spicer as Vice President of Client Development, Correspondent

Appraisal Buzz

Andrew “Andy” Spicer recently joined non-agency lender Deephaven as vice president of client development, correspondent. Spicer has more than 30 years of correspondent and wholesale mortgage sales leadership experience. Most recently, he directed midwest sales with Caliber Home Loans/Correspondent Lending, and he has held similar positions with MetLife, Bank of America and Washington Mutual Savings Bank.

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Gateway Mortgage Shows Support to Folds of Honor

Appraisal Buzz

Mortgage banker donates $175K-plus to organization that provides scholarships to the families of military disabled while on active duty. The post Gateway Mortgage Shows Support to Folds of Honor appeared first on theMReport.com. The post Gateway Mortgage Shows Support to Folds of Honor appeared first on Appraisal Buzz.

Mortgage 293
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The cyclical nature of the mortgage industry

Housing Wire

The ability to look past the now and develop strategies that poise an organization for future success is key to any leadership position in almost any business. It’s true for the mortgage industry and especially the long-term strategies we’ve developed to react to the current low-rate environment brought on by a global pandemic. One of the most fascinating factors that drove rates lower was the decoupling of duration and swap spreads for mortgage- backed securities, which, ironically, analysts ex

Mortgage 253
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Looking for Affordable Housing? UI Says Look to Homeownership; Sideways Rates Continue to Wait

Appraisal Buzz

A recent policy brief from the Urban Institute (UI) suggests a radical but common-sense solution for achieving affordable housing – homeownership. UI analyst Mike Loftin says there is no shortage of other policy proposals to address the housing problem – more federal investment in building public housing, subsidies to builders of affordable apartments, dramatic increases in rent vouchers – but owning one’s own home, he says, is frequently more affordable than renting.

Investing 195
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Multifamily Built-for-Rent Share: 96% of Starts

Eyes on Housing

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts remained elevated at 96% during the first quarter of 2021. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period.

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Home Values Rise to Highest Point Since Pandemic Start

Appraisal Buzz

The median price of a home continues on a month-over-month upward trajectory, as short inventory plays a major factor into homebuyer’s decision-making in pursuit of the American Dream. . The post Home Values Rise to Highest Point Since Pandemic Start appeared first on theMReport.com. The post Home Values Rise to Highest Point Since Pandemic Start appeared first on Appraisal Buzz.

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Employment Situation in April: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 33 states and the District of Columbia in April compared to the previous month while 17 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 266,000 in April, following an increase of 770,000 jobs in March. On a month-over-month basis, employment data was strong in California, which.

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Genworth Mortgage Holdings Becomes Enact Holdings

Appraisal Buzz

Private mortgage insurance provider Genworth Mortgage Holdings Inc. (Genworth MI) has rebranded as Enact Holdings Inc. , operating as a subsidiary of Genworth Financial Inc. “This rebrand is an exciting new journey for us, and while our name and visual identity has changed, what will not change is our commitment to our customers and to our mission: helping people buy houses and stay in their homes,” says Rohit Gupta, president and CEO of Enact. “We look.

Mortgage 195
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Adding 3 Million Net New Black Homeowners in the Next Decade Can Narrow the Widening Homeownership Gap

Urban

Adding 3 million net new Black homeowners by 2030 can help close the homeownership gap for Black families.

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Inventory Lack Hinders Existing-Home Sales

Appraisal Buzz

While sales are down, homebuying demand remains strong, and economists predict a replenished supply later in 2021. The post Inventory Lack Hinders Existing-Home Sales appeared first on theMReport.com. The post Inventory Lack Hinders Existing-Home Sales appeared first on Appraisal Buzz.

Inventory 195
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Multi-disciplinary appraiser speaks to ‘new’ appraisal model

Valuation Review

Valuation Review reached out to Russell Kitzberger, a residential and commercial appraiser (Pointer Appraisal Services, LLC) and a certified general appraiser providing real estate appraisal, litigation consulting, and expert witness services for attorneys, property owners, insurers, lenders, and government agencies. He shared his thoughts on how appraisers have navigated the technologically challenged waters stemming from COVID-19 restrictions.

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Concerns Grow as Foreclosure Moratoria Date Nears

Appraisal Buzz

An alarming number of homeowners and renters are worried they will soon face foreclosure or eviction as key dates loom. The post Concerns Grow as Foreclosure Moratoria Date Nears appeared first on DSNews. The post Concerns Grow as Foreclosure Moratoria Date Nears appeared first on Appraisal Buzz.

Appraisal 195
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Should You Invest for Equity or Cash Flow?

BiggerPockets

What should be the primary goal of a buy and hold real estate investor: equity or cash flow? Your primary focus will depend on your situation and goals. But for most people, most of the time, focusing on one goal is better.

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First American: ‘The Long Run of Increasing Affordability Snapped’

Appraisal Buzz

Analysis of the March 2021 Real House Price Index (RHPI) from First American reveals that home affordability declined in 90% of the major markets the company tracks, representing the first time year-over-year affordability declined in more than two years. “Housing affordability on a year-over-year basis declined in March for the first time since January 2019, ending a more than two-year streak of rising affordability,” says Mark Fleming, chief economist at First American.

Appraisal 195
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Here’s Why You Should Manage Your Legal Documents Digitally

BiggerPockets

There are plenty of digital document storage solutions for today's landlords. Mobile rental apps and online software gives landlords the tools necessary to streamline a rental business.

Legal 72
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YoY Housing Affordability Declines, a First Since January 2019

Appraisal Buzz

A more than two-year streak of rising affordability ends, due to a combination of appreciating prices and elevated unemployment rates, according to economists. The post YoY Housing Affordability Declines, a First Since January 2019 appeared first on DSNews. The post YoY Housing Affordability Declines, a First Since January 2019 appeared first on Appraisal Buzz.

Appraisal 195
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Tyler Technologies selected for commercial appraisal project

Valuation Review

Tyler Technologies, Inc. has signed a five-year, $7.8 million agreement with the Cobb County Board of Tax Assessors in Georgia for Tyler’s CLT Appraisal Services and Assessment Connect solution, the company announced in a release. Read on for more terms of this agreement.

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Two-Year Streak of Increasing Affordability Ends

Appraisal Buzz

An economist explains why—even as rates remain low and household incomes improve—buying a house is becoming less affordable on a year-over-year basis. The post Two-Year Streak of Increasing Affordability Ends appeared first on theMReport.com. The post Two-Year Streak of Increasing Affordability Ends appeared first on Appraisal Buzz.

Appraisal 195
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AXIS Lending Academy launches new tech training

Valuation Review

AXIS Lending Academy, a non-profit education program that offers free hybrid education training to people seeking a career in the mortgage industry, announced the formal launch of its operations. Read on to learn more details.

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Rise in Demand Drives Home Price Appreciation

Appraisal Buzz

Potential homebuyers looking to take advantage of low rates are hitting some obstacles when shopping, one being the continued rise in home prices. The post Rise in Demand Drives Home Price Appreciation appeared first on DSNews. The post Rise in Demand Drives Home Price Appreciation appeared first on Appraisal Buzz.

Appraisal 195
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Delinquency rates increased in February

Valuation Review

The CoreLogic Loan Performance Insights report indicates 5.7 percent of mortgages were delinquent in February by at least 30 days or more including foreclosure. This represents a 2.1 percentage point increase in the overall delinquency rates compared with February 2020. Read on for more from this report.

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HousingWire Tech100 Spotlight

Clear Capital

Watch this interview between Brena Nath, HW+ managing editor, and Kenon Chen, EVP of corporate strategy, Clear Capital, as they discuss why the right technology is more important than ever, and ClearCollateral ® Review — winner of the 2021 HW Tech100 award. Learn how this automated collateral underwriting review system helps improve the quality of review while reducing the effort by 50% through machine learning — a crucial benefit during this period of high volume.

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COVID vaccine arrival may not affect housing-interest levels

Valuation Review

RCN Capital Chief Marketing Officer Erica LaCentra recently shared more with Valuation Review about whether a rise in the number of homes for sale will still fall short of the demand currently being seen. She said an increase in the housing supply during and beyond 2021 hinges constraints the new construction industry is facing due to rising material and lumber costs.

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How to Find Distressed Properties to Invest in: 5 Ways

Mashvisor

When it comes to real estate investing for beginners, buying distressed properties for sale is something worth considering.

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Appraisal software company appoints director

Valuation Review

Reggora recently appointed Jonathan Corr to its board of directors, the company announced. Read on to learn more.

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Clear Capital tool helps appraisers with data

Clear Capital

Story by Valuation Review Staff. Clear Capital said its interactive property valuation tool ClearProp is designed with at-a-glance insights in mind for any user to quickly and easily understand the subject property. With access to data and analytics on nearly every U.S. property (150 million properties), the tool specifically allows users to understand characteristics, potential comps, market trends and identify data discrepancies across different property sources, the company said.

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How To Sell Your Memorial Villages Home Fast For The Most Money

Houston Properties

How To Sell Your Memorial Villages Home Fast For The Most Money. Expert home seller guide from the number one Realtor in Memorial Villages. Summary. Houston Properties Team listings sell for 7.2% more and for 43.7% faster than average. We achieve these numbers because we know what it takes to sell your Memorial Villages home fast and for more money.

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Builders FirstSource to acquire Cornerstone for $400 million

Housing Wire

Dallas-based Builders FirstSource Inc. , a building material and service provider, announced it has agreed to acquire Cornerstone Building Alliance SW LLC for approximately $400 million, subject to adjustments. The acquisition will be funded through a combination of existing cash and credit facilities and is expected to close around the end of the second quarter of 2021, Cornerstone said in a statement.

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The Challenges of Appraising Multifamily Properties

Appraisal Buzz

When you calculate a house’s worth, you think about how numerous factors position the property in the current market. This process has appraisers review location, condition, and other variables so they can assess whether buyers will be interested. However, things aren’t always as straightforward as they seem. Challenges often arise in how professionals figure out the overall value of multifamily homes.

Appraisal 397