Wed.Nov 30, 2022

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Mortgage group asks regulators to stop FICO’s price hikes of up to 400%

Housing Wire

Credit reports are getting a lot pricier, and some mortgage lenders are none too pleased about it. In a letter dated Nov. 22, the National Consumer Reporting Agency told its members that the “vast majority” of mortgage lenders would see price increases between 10% and 400% from Fair Isaac Corp. (FICO). The letter, signed by NCRA Executive Director Terry Clemans, said there would be “a wholesale price increase of less than 10% for the top tier of approximately 46 lenders, about

Mortgage 397
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Excess of Appraisers? Education

George Dell

The current excess of appraisers is the inevitable result of cyclical forces. The ups and downs persist due to the interaction of the five forces of friction: practices, standards, education, regulation, and client expectation. These five frictions reinforce and shield each other. They tag-team a rampart against risk/valuation reform, bank safety, and movement toward unbiased […].

Appraisal 195
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The mortgage market right-sizing is well underway. When will normalcy return?

Housing Wire

Relief from the rate-driven volume reduction afflicting both the primary and secondary mortgage markets is expected to be elusive for some time to come, at least in terms of any renewed refinancing boost. That’s according to David Petrosinelli, a New York-based senior trader with InsphereX , a tech-driven underwriter and distributor of securities that operates multiple trading desks around the country.

Marketing 397
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Construction Job Openings Peaked for Cycle?

Eyes on Housing

The count of open, unfilled jobs for the overall economy declined in October, falling from 10.7 million open positions to 10.3 million. This represents a small decrease from a year ago (11.1 million), a sign the labor market is slowing in response to tighter monetary policy. The degree of this slowing will be critical for a potential downshift in the.

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Banc of California sues Sprout Mortgage, Planet Home Lending 

Housing Wire

A recent lawsuit filed by Banc of California is claiming that mortgage lenders and servicers Sprout Mortgage (now defunct) and Planet Home Lending owe $1.5 million related to the proceeds of two notes it owned and funded. In addition, the bank alleges that Sprout’s transactions with its warehouse lines have resulted in a deficiency of $2 million since the start of July 2022.

Lending 397
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Leaves & Prices Are Falling- November Newsletter

DW Slater Company

“A fallen leaf is nothing more than a summer’s wave goodbye.”-Unknown. Here in North Texas, we are finally starting to see the leaves turning colors and begin falling. It’s pretty but doesn’t last long and soon we will enter the bleak and gray winter months. I tend to make a comparison of the seasons with the housing market but it often works in tandem.

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Digital Forms to Ease the Stress of Your Company Holiday Party

GoForrmz

Plan your holiday party with GoFormz ‘Tis the season and we’re here to spread holiday cheer! GoFormz is the all-in-one digital form platform that makes planning your company’s holiday party a breeze. Whether or not you already use GoFormz, it's easy to create and send forms that cover all the party basics. From sign-in sheets to gift raffles, GoFormz has you covered.

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Voxtur CEO on progress in the housing industry

Housing Wire

The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s TECH100 award are now open through Friday, December 23, 2022. Click here to nominate your organization. Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate that are working to improve the housing industry through tech innovation.

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30-Day Stay: A Medium-Term Strategy For Long-Term Financial Freedom

BiggerPockets

If you are looking for a tactical investing roadmap on what medium-term rentals are and how to get started right away, 30-Day Stay: The Real Estate Investor’s Guide to Mastering […].

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Cloudvirga’s POS platform provides loan officers with everything they need to prepare a loan in minutes

Housing Wire

One pain point affecting lenders today is around how they can differentiate themselves from the competition and increase efficiencies. Cloudvirga’s platform solves for both by creating the best experience for borrowers and loan officers. Cloudvirga’s POS is an experience-driven platform that gives lenders access to the tools they need in an easy-to-use, responsive UI.

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Down but not out: Creating positive impact in any market climate

Clear Capital

Written by Kenon Chen. No amount of video calls, social media posts or other two dimensional interaction can replace what it is like to be around housing finance people in person. If there was ever an industry that thrived on being “people people,” housing finance is it. This was going through my mind as I sat next to a founder of a large mortgage lender at an industry event in Washington, D.C. recently.

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Point-of-Sale Solutions Special Report

Housing Wire

In today’s market, lenders are looking to differentiate themselves from the competition by providing a superior experience for the borrower. At the same time, they want to improve the experience for loan officers by streamlining as much as they can and providing valuable efficiencies. The two companies featured in this section offer point of sale solutions that leverage technology and connectivity to ease the mortgage process for both LOs and borrowers.

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How to Read Your Property Insurance Policy

BiggerPockets

Purchasing adequate landlord or property insurance for your investment property is vital if you want to protect your income and maintain long-term financial security. However, the coverage to which you’re […].

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4 things to do to your house before you get an appraisal

AmeriMac

When you have a home appraisal coming up for your property, it’s important to have it valued as high as you can. If you get an offer for the home, but the home appraisal comes in at less than offered, the deal may be off. Or, you may have to bring down your asking price. There isn’t much you can do about your square footage or the area that the home is in before the appraisal, but there are many things that you can do to improve the way your home looks, functions, and is perceived.

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Billionaire Advice that Made a Farm Boy a Fortune in Self-Storage

BiggerPockets

How much billionaire advice have you gotten? Ever decided to look up the wealthiest people in your area and give them a call? What type of tips could they give […].

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CMHC releases Q3 2022 results

Mortgagebroker News

Crown corporation says it continues to navigate economic volatility

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Black Knight’s Borrower Digital leverages connectivity with Empower to give lenders a competitive edge

Housing Wire

Borrower Digital is Black Knight’s point-of-sale (POS) solution that is built using responsive-design to be used easily from any web-enabled device. The solution leverages the power of innovative, integrated technologies to not only simplify the mortgage application and approval process for borrowers, but also to improve the backend process for loan officers.

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What is going to happen to Canada house prices in 2023?

Mortgagebroker News

RE/MAX outlines market possibilities for 2023

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Milton, MA Real Estate Market Cools in October 2022

Buys Brokers Only LLC

The Milton, Massachusetts, real estate market showed signs that demand for single-family homes weakened in October.

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What are brokers looking for from lenders in 2023?

Mortgagebroker News

Top brokers on how lending partners can help maximize the relationship next year.

Lending 55
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How will Ontario's newly passed housing legislation help the market?

Mortgagebroker News

RESCON highlights the significant steps that Bill 23 introduces

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RBC reports Q4, full-year earnings

Mortgagebroker News

Market conditions "continue to be tough," says banking giant's CEO

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How did the Canadian economy perform during the third quarter?

Mortgagebroker News

Statistics Canada reveals latest economic trends

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