Wed.Jun 15, 2022

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How mortgage lenders are navigating life at 6%

Housing Wire

The markets have been shaken to the core. And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. On Friday, the U.S. Consumer Price Index clocked an 8.6% increase year-over-year in May, 30 basis points above the consensus estimates – and enough for stock futures to sink and bond yields to soar. The price data has changed the expectations for the Federal Reserve ’s meeting on Wednesday, with the market betting on a 75 bps increase in interest rates (compar

Mortgage 382
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Matthew Wood: Today’s LOS’s Must Be Designed With Future Technologies in Mind

Appraisal Buzz

PERSON OF THE WEEK: The mortgage market is, unfortunately, set for another slowdown, but that means mortgage lenders have more time to focus on refining the technology and processes they use to improve the experience for their borrowers. As lenders look to improve their systems, they will no doubt ask, “What are the latest developments in LOS technology?

Design 195
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Fed hikes rates by 75 bps, the largest increase since 1994

Housing Wire

The Federal Reserve (Fed) on Wednesday did something it hadn’t done in more than two decades: it raised the federal funds rate by 75 basis points, to 1.50-1.75%, a hike not seen since 1994. The decision, designed to slow the pace of inflation, which reached 8.6% in May for the highest mark in more than 40 years, has potential to increase the cost of mortgage borrowing. “Overall economic activity appears to have picked up after edging down in the first quarter,” The Federal Open Marke

Mortgage 370
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Boston National Title, Clarifire, Collaborate to Streamline Default Servicing

Appraisal Buzz

Boston National Title Agency, an Incenter LLC company, has announced a strategic alliance with Clarifire, the leader in workflow automation and seamless servicing. Users of CLARIFIRE for default servicing and loss mitigation will now benefit from its integration with solutions from Boston National Title, one of the largest independent title and settlement service providers in … The post Boston National Title, Clarifire, Collaborate to Streamline Default Servicing appeared first on DSNews.

Appraisal 195
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ARMs race: adjustable-rate mortgages make a comeback

Housing Wire

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. But this year, as rates have crested 6%, about 70% of Neat’s originations are adjustable-rate mortgages, a product that until recently had fallen out of favor due to the role they played in the housing crash of 2008 and a decade-plus of fixed-rate mortgages under 5%. . “It’s obviously not just a flip flop, it’s a pretty big move,” s

Mortgage 370
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Investor Impact: Marketshare Shifts in Q1

Appraisal Buzz

The number of homes purchased by real estate investors in the first quarter declined 11.5% from Q4 of 2021 and 16.5% from Q3 of 2021, when investor purchases hit a record high, according to a new report from Redfin. Still, investor purchases remained above pre-pandemic levels, and investors bought up a larger share of America’s … The post Investor Impact: Marketshare Shifts in Q1 appeared first on DSNews.

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No Judgment Needed?

George Dell

Judgment in valuation analysis is not needed — so they say — so long as the algorithm is right. So long as the algorithm is right. For appraisers, this means the valuer has identified a good scope of work. For a researcher, this means an investigation path is identified – a hypothesis. […]. The post No Judgment Needed? appeared first on George Dell, SRA, MAI, ASA, CRE.

Valuation 195
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Logan Mohtashami: “biggest affordability hit in our lifetime”

Housing Wire

In this HW+ Slack Q&A, HousingWire Lead Analyst Logan Mohtashami answers questions from our HW+ member community. Mohtashami focused on the latest inventory and the Federal Reserve’s rate hike announcement. As a member of HW+, you get access to 30-minute Slack Q&As , where we invite the HW Media newsroom to break down the hottest topics in the industry.

Inventory 370
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Chickasaw Bank Signs 10-Year Deal to Utilize Sagent Mortgage Platforms

Appraisal Buzz

Sagent , a fintech company modernizing mortgage and consumer loan servicing for banks and lenders, has signed a new 10-year partnership with Chickasaw Community Bank to power its enterprise and homeowner experience across the entire loan lifecycle. Chickasaw Community Bank chose Sagent to power its servicing growth with homeowner-first, enterprise-grade platforms including LoanServ (system of record), Tempo (loss mitigation and default management), CARE (consumer experience), Datascape+ (cloud-b

Mortgage 170
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As mortgage rates skyrocketed in May, ARMs doubled

Housing Wire

A panel of experts assembled at a recent Mortgage Bankers Association (MBA) conference in New York predicted that adjustable-rate mortgages (ARMs) will become far more popular this year as purchase mortgages increasingly dominate a housing market contending with fast-rising interest rates. A June market report by a major digital mortgage-exchange and loan-aggregator, MAXEX , which offers an overview of loan-trading activity through the exchange for May, confirmed the MBA panel’s projections.

Mortgage 382
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Breaking the Affordability Cycle 

Appraisal Buzz

First American Deputy Chief Economist Odeta Kushi shares some solutions to solving the affordability puzzle. . The post Breaking the Affordability Cycle appeared first on DSNews. The post Breaking the Affordability Cycle appeared first on Appraisal Buzz.

Appraisal 150
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New Western taps new chief marketing officer

Housing Wire

Real estate investment firm New Western has named Kuba Poraj-Kuczewski as its chief marketing officer. Poraj-Kuczewski will lead the company’s marketing strategies and oversee its marketing team. . Poraj-Kuczewski plans to focus on driving “customer awareness, demand and retention” to support New Western in its growth stage and to make the firm “a leading industry brand,” he said, according to a statement. .

Marketing 370
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Fed Raises Nominal Interest Rate by 0.75%

Appraisal Buzz

Three-quarters of a point. This is the amount the Federal Reserve chose to raise the nominal interest rate by citing the need to combat the highest rate of inflation seen since the 80s. To put that another way, this is the largest rate hike seen since the Nov. 15, 1994 meeting of the Federal Open … The post Fed Raises Nominal Interest Rate by 0.75% appeared first on DSNews.

Appraisal 195
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3 tips to grow your mortgage broker business

Housing Wire

Whenever people want to get a mortgage, they search for professionals who can streamline the process. That’s precisely when your mortgage broker business comes to the rescue. In this article, you will find tips on how to grow your business, as well as five big mistakes that you may be making in the process. Ways to Grow Your Mortgage Broker Business.

Business 370
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Volume of Mortgage Applications Rises Nearly 17 Percent in One Week

Appraisal Buzz

The Market Composite Index, a measure of mortgage loan application volume, has increased 6.6% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association ’s (MBA) Weekly Mortgage Applications Survey for the week ending June 10, 2022. Last week’s results are compared to the prior week, which included an adjustment for the Memorial Day holiday.

Mortgage 150
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Just before the shockwave, mortgage applications rose

Housing Wire

Before the volatility wrought by high inflation and speculation about a rate hike by the Federal Reserve , mortgage applications increased 6.6% from the prior week, according to the latest Mortgage Bankers Association survey for the week ending June 10. Refinancing applications increased 4% from the prior week but were still 76% lower than the same week a year prior.

Mortgage 370
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[eBook] How to Use Calculations in your Digital Form Template

GoForrmz

Leverage Calculations within your digital form Templates to streamline processes, instantly provide totals, and protect data integrity. Features like Calculations allow your form fields to perform anything from simple addition or multiplication to complex Conditional Logic. GoFormz has a Calculation Builder which provides form builders with an intuitive approach to adding calculations to your Template’s form fields and can be easily accessed directly within the Template Editor.

Business 148
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Violating Appraisal Independence Through Harassment, Intimidation & Coercion

Appraiserblogs

It shall be unlawful… to engage in any act or practice that violates appraisal independence… Appraisers, I have written the info below, which you may use if you desire to send to your clients and local real estate offices. It’s time for all appraisers to stand up to this kind of very adverse behavior, done by and promoted by many real estate brokers/agents across the US.

Appraisal 116
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How to price a home in a correcting market

San Jose Real Estate

Home owners wanting to sell will be asking how to price a home in a correcting market – if they understand that things are shifting right now. When real estate values are rising, homes that are well priced, well staged, well marketed, well photographed, and easy to sell tend to sell quickly and for top […].

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How to Make a Rental Property Analysis Spreadsheet

Mashvisor

A rental property analysis spreadsheet is the easiest way to calculate your revenue or even decide what to invest in. Learn how to make one here.

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Expedite Retirement & Learn the Secret to Becoming a Top Producer (Quickly)

BiggerPockets

What differentiates a top producer from everyone else? The most common answer is hard work, ambition, and charisma, but what does that even mean? Hard work, while a universal concept, […].

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How borrowers can manage the squeeze of rate increases

Mortgagebroker News

A sizeable number of Canadians fear having to sell their home, according to a new survey

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CPI Report Gives Alarming Inflation News: Is a Recession Next?

BiggerPockets

Last week, the Bureau of Labor released data showing the Consumer Price Index (CPI)—the most commonly used measure of inflation—rose 8.6% higher in May 2022 compared to May 2021. This is up […].

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What Is a Condo & 6 Things to Know Before Investing in This Property Type

Mashvisor

Though condominiums may seem quite similar to traditional houses, there are actually plenty of differences to be aware of. So, what is a condo?

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StatCan: Household debt levels remain elevated

Mortgagebroker News

The Bank of Canada's outsized rate increases were a major component

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Assurance Financial Receives “The Technology Trailblazer” Award

Assurance Financial

We’re proud to announce that Assurance Financial has received Total Expert’s 2022 award for “The Technology Trailblazer”! Each year, Total Expert recognizes its customers who are leveraging their technology to drive the future of customer experience in financial services with “The Expys” This awards program celebrates high-achieving companies and individuals and applauds ingenuity, innovation, hard work, and customer-centric strategies. “The Technology T

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Analyst: Housing activity deceleration key to market balance

Mortgagebroker News

The market can look forward to "more rational expectations", Desjardins analyst says

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Federal Reserve Accelerates Rate Hikes

Eyes on Housing

To fight persistent inflation, the Federal Reserve has committed to significantly cooling demand. This approach reflects a non-monetary policy failure to fix underlying supply-side challenges that are pushing up inflation. The Fed lacks policy tools to make these supply-side fixes, so it must rely on demand-side impacts to bring down inflation by reducing economic growth.

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Firm Capital MIC announces newly elected directors

Mortgagebroker News

Shareholders also re-appointed the MIC's auditors and approved its stock option plan

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Appraisal Logistics brings 2 new execs on board

Housing Wire

Appraisal management technology and compliance solutions provider Appraisal Logistics has named Anthony Savala as senior vice president of sales and Nicholas Turansky as national account director. Savala will lead the company’s sales team, adding new clients for the company’s Appraisal Management Company (AMC) business and its appraisal management technology, AIM-Port.

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CMHC reports surge in pace of housing starts

Mortgagebroker News

Find out what's driving the movement…

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Weakening Builder Confidence Points to Economic Troubles Ahead

Eyes on Housing

Rising inflation and higher mortgage rates are slowing traffic of prospective home buyers and putting a damper on builder sentiment. In a troubling sign for the housing market, builder confidence in the market for newly built single-family homes posted its sixth straight monthly decline in June, falling two points to 67, according to the National Association of Home Builders (NAHB)/Wells.

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British Columbia housing market latest - continues to feel the weight of rate hikes

Mortgagebroker News

The impact was especially apparent in BC's sales volume and home values

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7 Reasons to Invest in Multifamily Properties for Sale in 2022

The Robert Weiler Company

Considering an investment in commercial real estate? Want to build a successful portfolio with an attractive rate of return? The decision to invest in multifamily properties for sale may be a solid option for you. The U.S. multifamily real estate market enjoyed a record-breaking year in 2021, according to a new report by CBRE. In fact, this sector set multiple records last year with a total investment volume of $335.3 billion, an absorption of 617,500 units, and the national vacancy rate falling