Wed.Aug 10, 2022

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Is housing inventory growth really slowing down?

Housing Wire

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data.

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The Appraiser Diversity Initiative – What You Need to Know

Appraisal Buzz

Today’s Buzzcast interview is with Loren Cooke, President of Solidifi, and Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Loren, Scott, and Jim Morrison, VP of Marketing and Sales for Allterra Group, to discuss bringing more diversity into the appraisal industry and their panel for Valuation Expo, “ Appraiser Diversity Initiative: How the Industry is Attracting New Entrants and Fostering Appraiser Diversity. ”.

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Wholesale behemoth UWM bolstering cash flow with MSR sales

Housing Wire

When the sky is falling in the mortgage industry, generally there is something else that is rising. For many larger nonbank lenders, including UWM Holdings Corp., the parent of United Wholesale Mortgage (UWM), what is rising in their favor is the value of mortgage servicing rights (MSRs). UWM, the nation’s largest wholesale mortgage lender, recorded net income of $215.4 million for its recently ended second quarter, up some 55% from last year’s second quarter earnings mark of $138.7 million, the

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‘Stale’ Housing Inventory Rises in July

Appraisal Buzz

The share of U.S. homes that were listed for 30 days or longer without going under contract increased 12.5% in July from a year earlier, according to a new report from Redfin. the technology-powered real estate brokerage. In other words, 61.2% of for-sale homes were on the market for at least 30 days, up from … The post ‘Stale’ Housing Inventory Rises in July appeared first on DSNews.

Inventory 195
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Lone Peak Lending joins Panorama Mortgage Group

Housing Wire

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans , Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending , SoFi Mortgage , First Guaranty Mortgage Corp. and most recently, Caliber Home Loans , will lead Lone Peak as president, Panor

Lending 414
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Can AI Save The AI? Part I

George Dell

AI is “Artificial Intelligence.” The AI is Appraisal Institute. Artificial intelligence is a part of data science. Appraisal comprises science and art. Let’s take a look at what the primal AI intended, and what happened. Which is which? Once upon a time, science and art aspired to be the same. Just different words. What was […]. The post Can AI Save The AI?

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The MSR Market Is Soaring, But Challenges Await

Appraisal Buzz

Buyers in the MSR market are finding great deals at this time, but these rewards may come with great risk as Allen Price of BSI Financial Services explains. The post The MSR Market Is Soaring, But Challenges Await appeared first on DSNews. The post The MSR Market Is Soaring, But Challenges Await appeared first on Appraisal Buzz.

Marketing 195
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Doma says it’s still on the path to profitability

Housing Wire

Despite recording yet another quarter with a net loss, Doma executives remain steadfastly committed to reaching profitability by the end of 2023. During the second quarter of 2022 , the title underwriter earned $124 million in revenue, down from the $130 million recorded a year ago, but up 10% from the previous quarter. The firm’s GAAP net loss for the quarter was $58.65 million up from $23.3 million a year ago, and the all-important Adjusted EBITDA metric came in at a loss of $43.39 million, up

Inventory 382
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Has Inflation Peaked?

Eyes on Housing

Consumer prices eased slightly from a 40-year high in July as declines in energy prices offset increases in food and shelter indexes. Despite this improvement, inflation remains above an 8% rate for a fifth straight month. The food index recorded its largest annual gain since May 1979 as all six major grocery store food group indexes increased. Nonetheless, it is.

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Mortgage demand remains flat amid rate volatility

Housing Wire

Mortgage demand remained relatively flat last week amid volatility in mortgage rates in recent weeks. The market composite index , a measure of mortgage loan application volume, rose a marginal 0.2% for the week ending August 5, according to the Mortgage Bankers Association (MBA). The market index is down 62% compared to the same week in 2021. The refinance index rose 4% from the previous week while the purchase index fell 1% in the same period.

Mortgage 370
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GSEs to Require Servicers to Obtain Fair Lending Data 

Appraisal Buzz

In a move to assist borrowers in times of distress, the FHFA will require mortgage servicers to obtain fair lending data on borrowers to better understand their needs throughout the life of the loan. . The post GSEs to Require Servicers to Obtain Fair Lending Data appeared first on DSNews. The post GSEs to Require Servicers to Obtain Fair Lending Data appeared first on Appraisal Buzz.

Lending 150
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SEC claims Angel Oak Capital Advisors deceived investors

Housing Wire

Angel Oak Capital Advisors , the investment management arm of non-QM lender Angel Oak Cos., has agreed to pay $1.75 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) alleging that the company misled investors about the delinquency rates in a 2018 private-label securitization involving fix-and-flip loans. Also charged in the case, according to the SEC, was Ashish Negandhi, the portfolio manager for Angel Oak Capital Advisors.

Investors 381
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Fixer-Uppers Remain Viable Option for Cash-Strapped Buyers

Appraisal Buzz

Buying a fixer-upper remains a viable option for many buyers trying to stretch their dollar in the current environment of still-rising home prices, bidding wars, low inventory and rising interest rates. While these properties do require buyers to put in a significant investment in physical work—not to mention time—they are a real solution for cost … The post Fixer-Uppers Remain Viable Option for Cash-Strapped Buyers appeared first on DSNews.

Buyers 150
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Celebrity Home Loans exits correspondent channel

Housing Wire

Mortgage lender Celebrity Home Loans shut down its correspondent channel and laid off employees on Tuesday. Amid a market downturn, the company has decided to focus on the retail lending business. “As one of the few retail lenders that saw production grow from Q1 to Q2, we’ve decided to keep our focus on our greatest strength: retail lending,” David Robnett, chairman and CEO, wrote in a statement.

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Cenlar Appoints Dave Applegate as Chairman of the Board of Directors

Appraisal Buzz

Cenlar FSB announced that Dave Applegate has been appointed Chairman of the Board of Directors. In addition, Executive VP and Chief Operating Officer Robert “Rob” Lux has been named co-CEO along with D. James “Jim” Daras, who will also serve as President. Applegate, who has been a member of the board since 2020, has more … The post Cenlar Appoints Dave Applegate as Chairman of the Board of Directors appeared first on DSNews.

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Tom Ferry and Gino Blefari take the stage at the Vanguard Forum Oct. 4

Housing Wire

Two industry titans, Tom Ferry, CEO of Tom Ferry International , and Gino Blefari, CEO of HomeServices of America , will join attendees for a fireside chat at the exclusive Vanguard Forum during HW Annual Oct. 4. . These two powerhouse leaders have been renowned in the industry for many years, and we’re excited for them to share their wisdom, successes, advice and stories with other executives both new and experienced.

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3 Forms Your School Athletics Team Needs

GoForrmz

Modernize your athletic program with digital forms Athletic paperwork and processing have long led to burdensome administrative demands, slow and fragmented communication, delays in student-athlete participation, and a variety of other obstacles depending on the athletic program participation level. Relying on outdated resources makes it difficult for athletic programs to maintain efficiency and remain organized, especially during new student-athlete registration and updating old records.

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Best Sienna Plantation TX Neighborhoods

Houston Properties

Home to excellent amenities and zoned to top-ranked schools, Sienna Plantation is currently the best-selling master-planned community in Texas.

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When’s the Best Time to Find Rental Property?

Mashvisor

News of mortgage rates going down and the housing market cooling are making their rounds recently. Is now the best time to find rental property?

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How Green Building Affects Property Value

Valcre

Property valuations depend on several factors. With the increasing interest and efforts towards environmental sustainability, green buildings are valued more highly than traditional non-sustainable ones. Green buildings are built, designed, operated, and maintained according to environmentally sustainable practices and procedures. There are certain state and third-party standards that buildings have to meet to get a green certification and qualify as green buildings.

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Real Estate Easements: What Massachusetts Homebuyers Should Know

Buys Brokers Only LLC

Prospective homebuyers in Massachusetts have a lot to consider when deciding on a home, and one of those considerations is whether there are any real estate easements affecting the land.

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Got a Need for Leads? Use This Opener to Earn Trust in 5 Seconds (or Less!)

BiggerPockets

Everyone wants more real estate leads. It doesn’t matter if you’re an agent, investor, flipper, or mortgage broker. The more prospective buyers and sellers, the better. But what happens when […].

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Lamacchia Realty Officially Celebrates Northborough Office Grand Opening

Lamacchia Realty

After opening our Northborough office in April , we are so excited to be celebrating this exciting milestone with a Grand Opening celebration which happened on Saturday, August 6th! Lamacchia Realty has been serving Worcester County, and more specifically Northborough, Westborough, Southborough, and the surrounding area for years. With offices already in Worcester and Leominster, it was a perfect fit in Northborough and we are thrilled to be to able provide even more to the clients in this area.

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GUIDE TO HOUSTON'S BEST CONDOS

Houston Properties

Houston is home to a great variety of condo options, from luxury full service highrises to boutique midrises and lofts.

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Here’s Why This Housing Market Isn’t Like 2008, But Why You Should Still Be Concerned

BiggerPockets

Those not living under a rock for the past year could skip these opening paragraphs as they are well aware the real estate market has been on fire. They are […].

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Economists: Canada's deceleration to last for a prolonged period

Mortgagebroker News

The economy will be labouring under supply-chain issues, labour shortages, and weaker capital spending

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Museum Flats Houston Condo Guide

Houston Properties

Discover Museum Flats, a new residential mid-rise in the Museum District Area

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2022 mortgage market: What's in store for the rest of the year?

Mortgagebroker News

The rising-rate question is set to remain as relevant as ever in the year's closing months

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Anthony Lamacchia and Mike McGrory Featured in Boston.com Article

Lamacchia Realty

Broker/Owner Anthony Lamacchia and Vice president of Property Acquisitions and Development Mike McGrory were featured in an article in Boston.com discussing the rent in the city. They discuss how they are seeing that people are sometimes paying as much as $300 over asking for rent to live where they want to, and how the higher interest rates are producing higher rents.

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What the future holds for variable rates

Mortgagebroker News

A September rate increase could spell further bad news

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How Long Does It Take To Get An Appraisal Scheduled?

AmeriMac

When you are selling your home, a home appraisal is a process that will determine your home’s fair market value. This makes sure that the home’s buyer is going to pay a fair price for it. It’s much different from an in-depth home inspection that is done to find any small defects in the property. Instead, a real estate appraiser seeks to determine the general condition of your home and its overall value.

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Avison Young highlights Calgary office market's prospects

Mortgagebroker News

Volatility in one sector might prove to be a headwind in the near future

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Los Gatos Mountains 95033 Real Estate Market

San Jose Real Estate

The real estate market in the Los Gatos Mountains is very different from the “in town” Los Gatos housing market and really deserves its own separate treatment. The mountain area includes areas both in Santa Clara County and also Santa Cruz County, but the data here will reflect only the area within Santa Clara County. […].

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Lakes of Michigan | Lake Bellaire

Berkshire Hathaway

Quick Facts. Location: Antrim County. Lake Type: Natural Freshwater Lake, Dammed. Surface Area: 1,793 acres. Shoreline: 12 miles. Average Depth: 43 feet. Maximum Depth: 95 feet. Public Access Sites: 11. Lake activities. Boating (motor, sail, paddle) | Fishing (year-round) | Swimming | Water skiing/wakeboarding/tubing | Wind surfing. area attractions.