Housing Wire

NOVEMBER 3, 2021

Zillow CEO Rich Barton. “Look, similar to other technology companies that have gone before us, we strongly believe in taking big swings and failing fast. We have learned from our experience in Zillow Offers in Q3 and are applying those learnings as we look ahead.”. Those were Zillow CEO Rich Barton’s closing remarks on Tuesday’s earnings call, after the CEO shockingly announced the wind down of the Zillow Offers iBuying program, plus a pending lay off of 2,000 employees.

Technology 456

Technology Real Estate Development Business 456

George Dell

NOVEMBER 3, 2021

Modernization means bring in modern methods. What are they? Why aren’t they here? Is it really that hard? We have big financial resources. We have motive. We have huge organizations in place. And we have regulatory clout! Appraisal is just one type of valuation, done by super-regulated, licensed appraisers. Competing valuation products, like AVMs (Automated […].

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Modernization Appraisal Valuation 363

Housing Wire

NOVEMBER 3, 2021

It’s official. The Federal Reserve announced Wednesday that it will soon begin to taper its monthly asset purchases. The central bank’s Federal Open Markets Committee said Wednesday that thanks to “substantial further progress” the economy has made, it will reduce the pace of its $120 billion in monthly purchases by $10 billion for Treasury securities and $5 billion for agency mortgage-backed securities.

Mortgage 449

Mortgage Inventory Finance Marketing 449

Appraisal Buzz

NOVEMBER 3, 2021

Lender and servicer Guild Mortgage has introduced a new mortgage option designed to make it easier for medical professionals to buy their first home. Under the Guild program, qualified medical professionals, including those who have just graduated from medical school, can qualify for a home loan with up to 100% financing, no required mortgage insurance, and the ability to exclude student debt from their debt-to-income ratio.

Mortgage 360

Mortgage Design Insurance Finance 360

Housing Wire

NOVEMBER 3, 2021

To the surprise of virtually no one, loan officer commissions started to head south in the third quarter, dropping 17% year-over-year, according to SimpleNexus ’ third quarter mortgage loan compensation report. The reason? Yep, you guessed it: waning refi volume. From July to September, monthly refi commission dipped by 37%, whereas monthly purchase loan commission rose by a slight 2%, the report found.

Loan Officers 391

Loan Officers Mortgage Marketing 391

Appraisal Buzz

NOVEMBER 3, 2021

Kebra Rhedrick has joined financial services consulting firm Wipro Opus Risk Solutions as chief compliance counsel. Rhedrick previously served as in-house counsel for JPMorgan Chase Bank, where she gained extensive experience representing investors and servicers in residential mortgage-backed securities focusing on root cause analysis of non-performing assets.

Real Estate 195

Real Estate Investors Finance Development 195

Appraisal Buzz

NOVEMBER 3, 2021

Mortgage rates moved higher today after the Federal Reserve announced a reduction in its rate-friendly bond buying program. Actually, to be fair, rates moved higher before the Fed made that announcement, and largely for other reasons. The biggest issue today was, in fact, a widely followed report on the service sector (ISM Non-Manufacturing PMI) which crushed its previous record high.

Mortgage 195

Mortgage Appraisal 195

Housing Wire

NOVEMBER 3, 2021

United Wholesale Mortgage rolled out prime jumbo adjustable-rate mortgage (ARMs) products on Wednesday, signaling that demand for ARMs is growing inside of the broker community. According to the top-ranked wholesale lender, their prime jumbo ARMs will allow brokers to offer “competitive pricing” on five-, seven- and 10-year adjustable-rate mortgages.

Loan Officers 355

Loan Officers Mortgage Investing Finance 355

Appraisal Buzz

NOVEMBER 3, 2021

The October 2021 Home Data Index Market Report (HDI) has been released by Clear Capital—a Nevada-based property valuation management and data solutions company—shows that the average American home increased in value by 5.3% over last quarter. According to the report, home prices are now up 19.5% year-over-year on average. The largest growth was seen in the South, where prices are up 6% on average … The post Where Are Home Prices Rising the Fastest?

Valuation 195

Valuation Appraisal Marketing 195

Housing Wire

NOVEMBER 3, 2021

Digital mortgage-servicing platformer Valon announced Wednesday a $43.9 million raise in equity funding with participation from affiliates of Starwood Capital Group and Freedom Mortgage , alongside independent investor and Softbank Group International CEO, Marcelo Claure. Fresh off the heels of its $50 million Series A raised in February, Valon’s total funding now sits at $93.9 million and puts the proptech at a roughly $590 million valuation, people with knowledge of the matter told Bloom

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Design Investors Investing Mortgage 335

Appraisal Buzz

NOVEMBER 3, 2021

Bill Kaper brings decades of technology expertise to the company, having previously served at Silicon Valley fintech Huckleberry, Root Insurance, and Amazon. The post Lower Fintech Names New CTO appeared first on DSNews. The post Lower Fintech Names New CTO appeared first on Appraisal Buzz.

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Insurance Technology Appraisal 195

Housing Wire

NOVEMBER 3, 2021

For the sixth straight quarter , eXp World Holdings , the parent company of eXp Realty , reported record breaking revenue, according to the company’s earnings report for the third quarter of 2021, released Wednesday. The cloud-based brokerage recorded $1.1 billion of revenue in the months of July, August and September. This is a 97% increase compared to the same time period a year ago.

Brokerage 330

Brokerage Lending Agents Realty 330

Appraisal Buzz

NOVEMBER 3, 2021

Fed Chair Jerome Powell has announced a slow tapering of the U.S. economy, as MReport examines the impact of the Fed’s actions on the nation’s housing market. The post Measuring the Fed’s Tapering Action on the Mortgage Market appeared first on theMReport.com. The post Measuring the Fed’s Tapering Action on the Mortgage Market appeared first on Appraisal Buzz.

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Marketing Mortgage Housing Market Appraisal 195

Housing Wire

NOVEMBER 3, 2021

Global lender Citigroup is capitalizing on a vibrant U.S. market for mortgages that have been dinged up by the pandemic. The bank, through its residential mortgage-backed securities conduit, Citigroup Mortgage Loan Trust , has securitized some 45,000 reperforming loans valued in aggregate at $6.8 billion through five private-label offerings year to date as of the end of October, Fitch Ratings reports show.

Marketing 290

Marketing Mortgage 290

Appraisal Buzz

NOVEMBER 3, 2021

Epiq, an Atlanta-based provider of intelligence to the legal services industry, has released its October 2021 bankruptcy filing statistics from its AACER subsidiary which found that filings rose by 1.8% last month representing 31,471 filings of all types, up from the 30,920 seen is September. Breaking the data down, Chapter 13 filings have been on the rise since May.

Legal 195

Legal Appraisal 195

Eyes on Housing

NOVEMBER 3, 2021

After growing steadily for six straight quarters, and peaking at 61% in the second quarter of 2021, the share of prospective buyers actively trying to find a home to buy declined to 57% in the third quarter. This is an indication that fast-growing home prices have begun to discourage a segment of potential buyers from getting past the planning stage.

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Buyers 157

Appraisal Buzz

NOVEMBER 3, 2021

For mortgage professionals, the decision to switch companies must be accompanied by an understanding of what you’re looking for. The post When It’s Time to Take the Next Step, Step Carefully appeared first on theMReport.com. The post When It’s Time to Take the Next Step, Step Carefully appeared first on Appraisal Buzz.

Appraisal 195

Appraisal Mortgage 195

Eyes on Housing

NOVEMBER 3, 2021

The Federal Reserve has supported the housing market during the virus crisis, the 2020 recession, and the subsequent, ongoing recovery via asset-backed purchases (among other tools), including $40 billion a month of mortgage-backed security (MBS) purchases. These MBS purchases have held interest rates lower than they otherwise would have been. Beginning in November, the Fed will reduce the monthly volume of.

Tools 146

Tools Housing Market Mortgage Marketing 146

Appraisal Buzz

NOVEMBER 3, 2021

If you look under the hood, our industry is still being powered by technology built more than a decade ago—creating downstream impacts to the secondary market. The post Driving MSR Trades Into The Future appeared first on DSNews. The post Driving MSR Trades Into The Future appeared first on Appraisal Buzz.

Technology 195

Technology Appraisal Marketing 195

Valuation Review

NOVEMBER 3, 2021

Dustin Harris' (“The Appraiser Coach”) blog post, “Knowing Your Why is the Key to Success,” is highlighted for this month’s Valuation Review installment. Harris shares his thoughts with regards to reminding appraisers how important that word “why” will be to them. Read on for more helpful tips.

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Valuation Review Appraisal Valuation 145

Appraisal Buzz

NOVEMBER 3, 2021

A combination of increased staffing and a drop in refi volume cut into loan originator profit in the third quarter. The post LOs Earned Less in Q3 appeared first on DSNews. The post LOs Earned Less in Q3 appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Valuation Review

NOVEMBER 3, 2021

Asking prices of homes increased to an all-time high of 12 percent, according to a Redfin report. However, pending sales were up just 4 percent, the smallest year-over-year increase since June 2020.

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Appraisal Buzz

NOVEMBER 3, 2021

Loan originators saw a 2.44% decrease in per-loan commission rates in the third quarter, as purchase apps held steady, but refi apps tailed off. The post Slide in Refi Volume Impacts Q3 LO Compensation appeared first on theMReport.com. The post Slide in Refi Volume Impacts Q3 LO Compensation appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Valuation Review

NOVEMBER 3, 2021

The National Association of Realtors Fair Housing Policy & Valuation Director Sehar Siddiqi spoke virtually on a webinar sponsored by Metro-West Appraisal. The program dealt with some of the biggest factors affecting the real estate industry’s supply chain shortages resulting in the increase of materials adding thousands to the overall costs of new homes.

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Supply Chain Valuation Review Valuation Realtors 146

Appraisal Buzz

NOVEMBER 3, 2021

Mortgage applications decreased 3.3% from one week earlier, according to data from the Mortgage Bankers Association ‘s (MBA) Weekly Mortgage Applications Survey for the week ending October 29, 2021. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4% compared with the previous week.

Mortgage 195

Mortgage Appraisal Marketing 195

Valuation Review

NOVEMBER 3, 2021

The CoreLogic Loan Performance Insights (LPI) Report for July showed that nationally, 4.2 percent of mortgages were delinquent by at least 30 days or more including those in foreclosure. This represents a 2.3-percentage point decrease in the overall delinquency rate compared with July 2020. Read on to learn more.

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Mortgage 111

Appraisal Buzz

NOVEMBER 3, 2021

The October 2021 Home Data Index Market Report (HDI) has been released by Clear Capital—a Nevada-based property valuation management and data solutions company—shows that the average American home increased in value by 5.3% over last quarter. According to the report, home prices are now up 19.5% year-over-year on average. The largest growth was seen in the South, where prices are up 6% on average … The post Property Values Rise Continue to Rise appeared first on DSNews.

Valuation 195

Valuation Appraisal Marketing 195

GoForrmz

NOVEMBER 3, 2021

Discover how digital janitorial forms empower your team to garner the rewards of effective communication and streamlined workflows No matter your industry, digital forms significantly transform daily operations and enhance communication across collaborating teams. Whether you’re a janitor at a school or a part of a janitorial commercial cleaning company, janitors of all kinds can reap the benefits of digital transformation.

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Tools Clients Business 78

Appraisal Buzz

NOVEMBER 3, 2021

Overall mortgage application volume declined 3.3% from last week, led by a drop in refinance volume to levels not seen since January 2020. The post Refi App Volume Slips to 22-Month Low appeared first on theMReport.com. The post Refi App Volume Slips to 22-Month Low appeared first on Appraisal Buzz.

Appraisal 195

Appraisal Mortgage 195

BiggerPockets

NOVEMBER 3, 2021

Do you use PayPal, Cash App, Zelle, or Venmo to collect rent? If so, new rules mean that you could owe taxes on digital transactions. Beginning in 2022, the Internal […].

Business 76

Business Landlords Real Estate 76

Valuation Review

NOVEMBER 3, 2021

ClearValue Consulting, a provider of enterprise-class vendor management technology for the mortgage industry, recently launched its Property VeriPix platform. This is a photographic validation and chain of custody technology verifying the location, date and time of subject property photos provided by third parties.

Technology 60

Technology Mortgage 60

BiggerPockets

NOVEMBER 3, 2021

Pace Morby’s name has become synonymous with seller financing, subject to deals, and flipping. He is one of the most educated players in the real estate game on all things […].

Finance 76

Finance Real Estate Sellers 76

Valuation Review

NOVEMBER 3, 2021

Valuation Review digital subscription winners have been chosen from the 2021 Voice of the Appraiser survey. Thank you to all the professionals who participated in this year’s report.

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Valuation Review Valuation Appraisal 60

Berkshire Hathaway

NOVEMBER 3, 2021

Act as an expert guide. Buying a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. A knowledgeable real estate agent will know what’s required in your market, helping you avoid delays and costly mistakes. Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.

Real Estate 69

Real Estate Real Estate Agent Realtors Agents 69