Housing Wire
MAY 27, 2022
All lenders must explain their rationale when denying credit to loan applicants, the Consumer Financial Protection Bureau affirmed Thursday, after looking into whether companies claiming exemption because they rely on “complex algorithms” were in violation of federal anti-discrimination law. The requirement also applies to mortgage lenders, legal experts say.
Appraisal Buzz
MAY 27, 2022
Federal anti-discrimination laws in banking are supposed to protect consumers from credit companies from denying an application for credit or taking other adverse actions without just cause or a clear explanation on why the action was taken. Companies have long used advanced computational methods as part of their credit decision making process, but as technology evolves, … The post CFPB Warns Mortgage Industry About Legal Responsibilities in Disclosure appeared first on DSNews.
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Housing Wire
MAY 27, 2022
This week’s HW+ member spotlight features Jeremy Potter, chief evangelist at Stavvy , a 2022 Tech100 Mortgage winner. Potter was recently promoted after serving as head of legal and capital markets and is a thought leader in the industry, regularly sharing his insights on how the industry can move forward through the power of innovation. He has also held leadership roles at Quicken Loans , now Rocket Mortgage , and Normcom Mortgage.
Appraisal Buzz
MAY 27, 2022
Homebuyer affordability decreased in April, with the national median payment applied for by applicants rising 8.8% to $1,889 from $1,736 in March. This is according to the Mortgage Bankers Association ‘s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
Eyes on Housing
MAY 27, 2022
As National Home Remodeling Month draws to close, Eye on Housing reports on the most common projects undertaken by NAHB Remodelers during the previous calendar year—in this case, 2021. The results come from a special question included in the first quarter 2022 survey for the NAHB/Westlake Royal Remodeling Market Index (RMI). At the top of the list, 81 percent of.
Appraisal Buzz
MAY 27, 2022
Catch up on insights from an array of subject-matter experts with on-demand installments of Five Star’s 2022 webinar lineup. The post Webinar Spotlight: Servicing, Loss Mit & REO Insights appeared first on DSNews. The post Webinar Spotlight: Servicing, Loss Mit & REO Insights appeared first on Appraisal Buzz.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
MAY 27, 2022
The housing market is displaying more signals that the pandemic-driven housing frenzy is coming to an end, as nearly one in five home sellers dropped their price during the four week period ending May 22 —the highest level since October 2019— according to a new report from Redfin. Measures of competition including the typical listing’s … The post Nearly 20% of Home Sellers Drop Prices appeared first on DSNews.
Mashvisor
MAY 27, 2022
If you have never purchased a condo (also known as a condominium), you may be shocked at the many factors to consider. Table of contents What Is a Condo?
BiggerPockets
MAY 27, 2022
This week’s question comes from Aaron on the Real Estate Rookie Facebook Group. Aaron is asking: What paperwork do I need to close an off-market deal? If presenting a cash […].
Mashvisor
MAY 27, 2022
As a property owner, you likely want to minimize property management costs while still providing high-quality service to your tenants.
Mortgagebroker News
MAY 27, 2022
The employment market appears in rude good health despite inflation and rising interest rates
BiggerPockets
MAY 27, 2022
Should you wait for the next market crash? I don’t know. Someday, the pundits will be right. Here's what I'm doing in today's market—and why.
Mortgagebroker News
MAY 27, 2022
Asset classes are evergreen investments amid a turbulent global financial system, new analysis says
Eppraisal
MAY 27, 2022
Summer is on the horizon and we're switching from furnace to air conditioning season in most parts of the country. According to Carrier, one of the top companies in cooling systems, "It's fair to say that, with proper maintenance and care, you can expect a good 15 to 20 years of cooling from a new high efficiency air conditioning system." They also state, "A well maintained furnace can last at least 15 to 20 years but completing annual maintenance and being diligent with re
Mortgagebroker News
MAY 27, 2022
The Bank of Canada looks determined to keep inflation in check through these large hikes
Appraisal Buzz
MAY 27, 2022
Freddie Mac has unveiled new automated underwriting capabilities that allow lenders to verify assets, income and employment using borrower-approved bank account data. This functionality will be available to mortgage lenders nationwide through the asset and income modeler (AIM) in Freddie Mac Loan Product Advisor (LPASM), the company’s automated underwriting system.
Mortgagebroker News
MAY 27, 2022
Consumer confidence is plummeting – but activity remains healthy, says top broker
Housing Wire
MAY 27, 2022
There is no single silver bullet that will rectify the pernicious impact of bias in residential real estate valuations — it is a complex problem that requires a multifaceted solution. But there is the promise of a better future on the horizon. The housing industry and Biden administration have begun a full throttled effort to solve the issues contributing to inequity.
Mortgagebroker News
MAY 27, 2022
The banking giant is the last of Canada's Big Six to release its quarterly financial results
Housing Wire
MAY 27, 2022
Donna Corley, head of the single-family division at Freddie Mac , is stepping down from her post at the government-sponsored enterprise. Corley will stay on until Nov. 25 as executive vice president and special advisor, reporting to Michael Hutchins, president of Freddie Mac. Hutchins will take over active management responsibilities for the single-family division until the company finds a replacement for Corley.
Mortgagebroker News
MAY 27, 2022
Refinances reached a new two-year high this month, online mortgage platform says
Appraisal Today
MAY 27, 2022
6 Tips for Appraising New Construction Homes. Excerpts: New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. It requires more work, so you want to be sure that you are charging for your effort.
Mortgagebroker News
MAY 27, 2022
Robust performance drew on the sustained strength of the bank's businesses
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