Housing Wire
NOVEMBER 8, 2021
Forbearance predictably declined across the board last week as exits accelerated, but more borrowers are going into plan modifications because they are still struggling to recover their pre-pandemic income. The total number of loans in forbearance decreased by nine basis points to 2.06% as of Oct. 31, according to the latest report from the Mortgage Bankers Association (MBA).
Sacramento Appraisal Blog
NOVEMBER 8, 2021
Last week Zillow announced failure as a home flipper and there were no candle vigils. But there has been so much talk and I’ve heard everything from “This means the market is going to crash” to “The iBuyer model is dead.” Let’s talk about what this failure really means. Any thoughts? Skim topics of interest […].
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Housing Wire
NOVEMBER 8, 2021
After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. First, he has his clients lender call the listing agent. “This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained.
Appraisal Buzz
NOVEMBER 8, 2021
MReport takes a closer look at how mortgage professionals should focus on streamlining processes through automated technology and data-enabled solutions. The post Quick Take: How Using Third-Party Data Positively Impacts the Mortgage Industry appeared first on theMReport.com. The post Quick Take: How Using Third-Party Data Positively Impacts the Mortgage Industry appeared first on Appraisal Buzz.
Housing Wire
NOVEMBER 8, 2021
While the total number of reverse mortgage industry professionals present at HW Annual in Frisco, Tex. this past September was minimal in comparison with the numbers of forward mortgage lenders and vendors, on c-level executive of a major mortgage company devoted some of her time on a panel at the event to discussing the importance of reverse mortgages to a fully and diverse product suite.
Appraisal Buzz
NOVEMBER 8, 2021
Ty Kern has joined Cherry Creek Mortgage , a nationwide, full-service mortgage lender, as executive managing director. Kern has 30 years of mortgage industry experience. Previously, he served as executive managing director – national production for Sun West Mortgage Company in Newport Beach, Calif. There, he oversaw all facets of loan production and managed a team of 300 employees, including originators and processors.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
NOVEMBER 8, 2021
SimpleNexus , a homeownership platform designed for loan officers, borrowers, real estate agents and settlement agents, now allows users to gather initial loan information in Spanish. The new version – Nexus Bilingual – makes kickstarting the loan process more accessible to prospective homebuyers by providing them with a Spanish-language purchase or refinance loan inquiry form option, the company reports.
GoForrmz
NOVEMBER 8, 2021
Join the paperless initiative: digitally transform your business while reducing its impact on the environment Tons upon tons of paper is produced every day, with thousands of trees cut down in the process. Although this process is nothing new, what might surprise many is the significant environmental impact that paper has on our planet. Professor Benjamin Sovacool of Aarhus University in Denmark states that there will be no water by 2040 if we maintain our current reliance on paper – resulting i
Appraisal Buzz
NOVEMBER 8, 2021
Waning refinance volume in the third quarter resulted in a 17% year-over-year decrease in average compensation earned per LO , SimpleNexus’ Q3 2021 Mortgage Loan Compensation Report shows. “The heyday of ultra-low rates and enormous refinance volume is over, and compensation is starting to settle back to pre-pandemic levels,” says Lori Brewer, EVP and General Manager of SimpleNexis, in the report.
Chicagoland Appraisal Blog
NOVEMBER 8, 2021
2 months ago I wrote an article comparing Zillow’s Zestimate program to a regular appraisal process. It’s a common question that comes up and with the real estate market skyrocketing, thought I’d answer the question once and for all. To my dismay, I didn’t expect the large disparity which recently led to the end of Zillows flipping scheme. The article describes “Zillow Group’s AI-power house flipping operation as a dismal failure”.
Appraisal Buzz
NOVEMBER 8, 2021
The Mortgage Bankers Association ‘s (MBA) latest Forbearance and Call Volume Survey is showing that the total number of loans now in forbearance decreased by 9 basis points from 2.15% of servicers’ portfolio volume in the prior week to 2.06% as of October 31, 2021. According to MBA’s estimate, 1 million homeowners are in forbearance plans.
Appraiserblogs
NOVEMBER 8, 2021
This story, titled “Black homeowners allege appraisal bias in Prince George’s County” is published by a TV station based in Washington D.C. The homeowners who were interviewed live or lived in Prince George’s County, which is immediately east of Washington D.C. Roughly 863 thousand people live in that county, including some who are pretty wealthy. An interesting twist on one of the TV story interviews is the homeowners’ incorrect assumption that just because they SPENT 1.3 Million Dollars buildi
Appraisal Buzz
NOVEMBER 8, 2021
Overseeing a team of approximately 3,700, 28-plus-year industry veteran tapped to head up the company’s Home Lending’s Distributed Sales team. The post Sue Barber to Manage Wells Fargo’s National Sales Force appeared first on theMReport.com. The post Sue Barber to Manage Wells Fargo’s National Sales Force appeared first on Appraisal Buzz.
Eyes on Housing
NOVEMBER 8, 2021
In the third quarter of 2021, non-real estate-secured consumer credit increased at a seasonally adjusted annual rate by 5.6%, with revolving debt1 increasing by 7.4% and nonrevolving debt2 increasing by 5.1%. Consumer credit totaled $4.4 trillion on a seasonally adjusted annual basis, with $1 trillion comprised of revolving debt and $3.4 trillion in nonrevolving debt.
Appraisal Buzz
NOVEMBER 8, 2021
The latest data from Optimal Blue’s daily interest rate tracker found interest rates for a 30-year mortgage by the end of October increased 6 basis points to 3.27%, which now totals a 30 basis point increase over the last three months. This data, which comes from a new report from Black Knight Inc., also showed that as a result of rising interest rates, rate/term refinance activity … The post Refi’s Reduced to 45% of Total Volume appeared first on theMReport.com.
Hank Miller Team
NOVEMBER 8, 2021
Trying to predict any market; stock, bond, mortgage, real estate or other type is a measured guess at best. Toss in a global pandemic, global supply chain issues along with global inflation and the challenge is exacerbated. But in this maelstrom comes a confident 2022 housing market forecast from Goldman Sachs; they predict home prices will appreciate 16 during 2022.
Appraisal Buzz
NOVEMBER 8, 2021
Calyx, a provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders and brokers, announced that PCV Murcor, a nationwide real estate valuations management company, is now integrated with Calyx Point. For more than 40 years, PCV Murcor has provided a full range of valuation products nationwide on all types of properties for loan origination, loss mitigation, REO, PMI … The post Calyx Partners with PCV Murcor appear
Valuation Review
NOVEMBER 8, 2021
The 2021 Appraisal Summit and Expo conference is underway, and Valuation Review is here live in Las Vegas to cover the event. A wide variety of appraisal topics will be presented to attendees from the Planet Hollywood Resort & Casino in the next two days. Read on for a brief preview.
Appraisal Buzz
NOVEMBER 8, 2021
Improvements in the nation’s jobs numbers have increased the number of forbearance exits as estimated total of just one million homeowners remain in forbearance plans. The post Share of Loans in Forbearance Inches Closer to 2% Mark appeared first on DSNews. The post Share of Loans in Forbearance Inches Closer to 2% Mark appeared first on Appraisal Buzz.
Valuation Review
NOVEMBER 8, 2021
CLARIFIRE, a workflow automation company, said its application has gone live with Resolve, Freddie Mac’s new integrated default management solution. Resolve offers B2B integration through application programming interface (API) technology to speed up loan workout option processing for servicers and provide faster mortgage assistance for borrowers.
Appraisal Buzz
NOVEMBER 8, 2021
The Fannie Mae Home Purchase Sentiment Index (HPSI) increased 1 point to 75.5 in October, as consumers once again reported mixed feelings about homebuying and home-selling conditions, as well as increased pessimism regarding the larger economy. Overall, four of the index’s six components increased month over month. In October, slightly greater shares of consumers reported that it’s a good time to buy a home and sell a home – with those numbers now sitting.
BiggerPockets
NOVEMBER 8, 2021
As we enter the final months of what has been a wild year for the housing market, key data suggests that we are slowly heading toward a slightly healthier and […].
Appraisal Buzz
NOVEMBER 8, 2021
In an unseasonable move, home prices and the rate at which they sell both ticked upwards in October, bucking trends that usually see a cooling during this time of year. According to a new report from Redfin, the October median home sale price increased to $357,007 which was a 1.5% increase from last month and a 13% increase from last year. The asking … The post Higher Mortgage Rates Boost Buyer Urgency appeared first on DSNews.
BiggerPockets
NOVEMBER 8, 2021
Did you hear the news about Zillow? The juggernaut real estate company that’s been buying houses left and right just decided to cease all of its house flipping operations. That’s […].
Appraisal Buzz
NOVEMBER 8, 2021
In an unseasonable move, home prices and the rate at which they sell both ticked upwards in October, bucking trends that usually see a cooling during this time of year. According to a new report from Redfin, the October median home sale price increased to $357,007 which was a 1.5% increase from last month and a 13% increase from last year. The asking … The post Rising Interest Rates are Driving a Late Season Push appeared first on theMReport.com.
BiggerPockets
NOVEMBER 8, 2021
I heard you laugh. Don’t try to hide it. The first time I heard the term “value-add” applied to self-storage, I almost laughed aloud, too. It didn’t compute for me. […].
Appraisal Buzz
NOVEMBER 8, 2021
When we hear that there may be changes to the industry’s standard appraisal reports, we’ve grown to expect a fair amount of stress and unrest. Change is never welcome and generally not easy for anyone. It’s no wonder no one wants to hear that changes are coming. Now, the way appraisers are required to report their results is changing again. As a technology provider, we know the chaos that can erupt whenever we have to make changes to something as fundamental as the report form itself.
Valuation Review
NOVEMBER 8, 2021
Eminent domain activity is expected to strengthen in the years ahead as a result of the Biden administration’s infrastructure bill, according to an article from BBG Managing Director James Turner titled “Infrastructure Plan to Boost Eminent Domain Activity.” BBG reached out to Valuation Review to share Turner’s thoughts. Read on to learn more.
Appraisal Buzz
NOVEMBER 8, 2021
Despite pessimism regarding the U.S. economy, and a predicted rise in rates, a new GSE poll found homebuyer sentiment on the rise in October. The post Report: Now Is the Time to Buy a Home appeared first on DSNews. The post Report: Now Is the Time to Buy a Home appeared first on Appraisal Buzz.
Valuation Review
NOVEMBER 8, 2021
Earlier, Valuation Review introduced its audience to the acquisition of National Condo Advisors by CondoTek. We sat down with CondoTek co-founder Asher Kahn and Orest Tomaselli, president of the company’s Project Review Division, for more insight on this acquisition and the technology that looks to enhance the overall automation process. Read on for more of the conversation.
Appraisal Buzz
NOVEMBER 8, 2021
New Fannie Mae survey finds that U.S. homeowners growing increasingly concerned about the direction of the economy. The post Consumers Anticipate Rise in Mortgage Rates appeared first on theMReport.com. The post Consumers Anticipate Rise in Mortgage Rates appeared first on Appraisal Buzz.
Valuation Review
NOVEMBER 8, 2021
Expetitle and 1st Class Real Estate announced they have entered a joint venture offering a streamlined, remote home closing transaction to the latter company’s customers. 1st Class Real Estate will launch fully remote and hybrid closings though a secure platform and mobile app, first starting in Florida and Georgia, but with plans for nationwide expansion.
Mashvisor
NOVEMBER 8, 2021
Find Top-Performing Investment Properties Quickly and Easily start your 3-month free trial Get 3 months free on industry-leading real estate data and analytics Mashvisor is a one-stop real estate investment…
Valuation Review
NOVEMBER 8, 2021
The Appraisal Subcommittee (ASC) announced that ASC’s partner, the Council on Licensure, Enforcement and Regulation (CLEAR), a 41-year-old association that promotes regulatory excellence, has selected a consortium of organizations to perform a comprehensive legal and policy review of the USPAP and the Real Property Appraiser Qualification Criteria (Criteria).
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