Housing Wire
JUNE 22, 2022
JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%. “Our staffing decision this week was a result of cyclical changes in the mortgage market ,” a spokeswoman for JPMorgan wrote in a statement on Wednesday.
Appraisal Buzz
JUNE 22, 2022
[link]. Today’s Buzzcast interview is with Jeff Allen, President of Cubicasa and Nikki Rinkus, Staff appraiser from Clario. We sat down with Jeff, Nikki, and Joan Trice, Founder of Allterra Group, LLC, to discuss new technology and what appraisers need to know about the future of appraisals and technology. What are some examples of new technology in the appraisal industry?
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Housing Wire
JUNE 22, 2022
United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins. UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release. The new program follows UWM’s two-month price-match trial that ends June 30.
Appraisal Buzz
JUNE 22, 2022
ATTOM ’s Special Housing Risk Report shows that New Jersey, Illinois and inland California had the highest concentrations of the most at-risk markets in the first quarter of 2022 – with the biggest clusters in the New York City and Chicago areas. Most southern states were less exposed. The first-quarter 2022 patterns – based on home affordability, underwater mortgages, foreclosures and unemployment – revealed that New Jersey, Illinois and California had 34 of the 50.
Housing Wire
JUNE 22, 2022
Hackers stole the personal information of 1,547,169 clients of Michigan-based Flagstar Bank in December, according to a document sent by the financial institution to the Office of the Maine Attorney General. The cyberattack occurred on Dec. 3 and Dec. 4, 2021, but the company discovered it on June 2, 2022, the document shows. The external data breach resulted in hackers accessing customers’ social security numbers. .
Appraisal Buzz
JUNE 22, 2022
Releasing its new Special Housing Risk Report, ATTOM Data spotlights county-level data revealing that areas in California, Illinois, and New Jersey have the highest concentrations of counties that are in danger of economic declines in the near future. Basing their findings on affordably numbers, local unemployment rates, underwater mortgages, and recorded foreclosures, counties near Chicago, … The post ATTOM Researches Counties Most At-Risk of Decline appeared first on DSNews.
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Appraisal Buzz
JUNE 22, 2022
CoreLogic reports that nearly 33 million U.S. properties may suffer the impact of hurricane-force winds, and 7.8 million could face storm surge damage in what is predicted to be a “severe” hurricane season. The post NYC and Miami Areas Most At-Risk From Hurricane and Storm Surge Damage appeared first on DSNews. The post NYC and Miami Areas Most At-Risk From Hurricane and Storm Surge Damage appeared first on Appraisal Buzz.
Eyes on Housing
JUNE 22, 2022
Nonfarm payroll employment increased in 32 states and the District of Columbia in May compared to the previous month while 18 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 390,000 in May, following a gain of 436,000 jobs in April. On a month-over-month basis, employment data was strong in Texas, which.
Appraisal Buzz
JUNE 22, 2022
The Mortgage Bankers Association ’s (MBA) monthly Loan Monitoring Survey shows that the total number of loans now in forbearance decreased by 9 basis points from 0.94% of servicers’ portfolio volume in the prior month to 0.85% as of May 31, 2022. According to MBA’s estimate, 425,000 homeowners are in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance decreased 5 basis points to 0.38%.
Appraiserblogs
JUNE 22, 2022
The results of this 2021 white paper: Appraisal overvaluation: Evidence of price adjustment bias in sales Comparisons co-authored by Frank Nothaft are pretty interesting. At first glance, I get the CoreLogic evil empire stuff, but step back and take it all in. Here’s the abstract. Home appraisal came under scrutiny for contributing to the home-price bubble and enabling the origination of risky mortgages that led to the post-2006 foreclosure crisis.
Appraisal Buzz
JUNE 22, 2022
Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Demand for homes has pulled back in response, easing price growth, slowing sales and boosting inventory, according to the latest market report from Zillow. Mortgage rates have shot up in early June, averaging 5.78% as of June 16, 2022.
Empire Appraisal Group
JUNE 22, 2022
2 of 3 Fla. Homes on Market Less than 30 Days. By Erica Plemmons. Florida Realtors economist : In 1Q 2022, half of new Fla. listings went under contract in 12 days – but look beyond that one statistic to see the shift in market speed. ORLANDO, Fla –Florida Realtors market metrics – such as closed sales, median sale price and active inventory – summarize what’s happening in your market.
Mashvisor
JUNE 22, 2022
As a short-term rental owner in 2022, you can use VRBO Florida rentals to succeed in your business. But what is VRBO and how does it really work?
Valcre
JUNE 22, 2022
A commercial appraisal business of any size needs to be organized and streamlined with digital methods of keeping track of client information. Having all relevant data on a centralized platform facilitates smooth function and informed decisions, which are crucial to determining the proper value of a commercial property. There are several elements of advanced database functions, like those of Valcre, that allow for effective appraisals.
Mashvisor
JUNE 22, 2022
What exactly is IRR, and why is it so important for real estate investors to use an IRR calculator these days? Table of Contents What Is IRR?
Mortgagebroker News
JUNE 22, 2022
Ease of transfer and an attractive commission structure are top of mind for agents switching to Referral, executive tells CMP
Mashvisor
JUNE 22, 2022
Hopper and Vrbo are ready to take global vacation rentals to the next level with an interesting but sensible partnership.
BiggerPockets
JUNE 22, 2022
A perfect storm has been brewing in the U.S. economy. Supply constraints coupled with increased demand built up during the pandemic have led to rapid inflation. The Fed is now […].
Mortgagebroker News
JUNE 22, 2022
Construction costs and Bank of Canada rate increases were major contributors to May's movements
BiggerPockets
JUNE 22, 2022
Turnkey rental properties have become a fan favorite for rookie real estate investors and investors who don’t have enough time to manage their rehabs and rental properties. Turnkey real estate […].
Mortgagebroker News
JUNE 22, 2022
Expanding nationally: Leading mortgage brokerage offers its clients more choices in more regions
Lamacchia Realty
JUNE 22, 2022
Anthony Lamacchia sat down with Boston 25 morning news anchor Gene Lavanchy to discuss the current changes in the Massachusetts housing market. Watch below! Price Adjustments in this New Housing Market. June 21, 2022. No Comments. In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow.
Mortgagebroker News
JUNE 22, 2022
The Crown corporation has launched a new refund program for Canadians
Lamacchia Realty
JUNE 22, 2022
Jackie Louh’s promotion to Chief Operating Officer of Lamacchia Realty was featured on Inman News! The article explained how she got started with the company, her new role, and so much more. Click here or on the image to learn more! . The post Jackie Louh Promotion Featured in Inman News appeared first on Lamacchia Realty.
Mortgagebroker News
JUNE 22, 2022
Rising mortgage rates are a significant factor impeding Canadians' plans
Housing Wire
JUNE 22, 2022
Meta Platforms , formerly known as Facebook Inc. , agreed to settle allegations that its in-house advertising system discriminates in choosing which users receive housing ads, the Department of Justice announced on Tuesday. The department claim s that Meta’s housing advertising system uses a “discriminatory algorithm” that is preferential toward certain demographics over others.
Mortgagebroker News
JUNE 22, 2022
Surges in price growth show no signs of slowing down
Appraisal Buzz
JUNE 22, 2022
Existing-home sales retreated for the fourth consecutive month in May, according to the National Association of Realtors (NAR). Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions. Total existing-home sales —completed transactions that include single-family homes, townhomes, condominiums and co-ops— fell 3.4% from April to … The post Existing-Home Sales Retreat Nationwide appeared first on DSNews.
Mortgagebroker News
JUNE 22, 2022
The portfolio consists of nearly 3.
Appraisal Buzz
JUNE 22, 2022
Tapped by the Biden Administration as Acting Director nearly a year to the day, Sandra L. Thompson assumes responsibility for oversight of the $7.5 trillion mortgage finance market in an Agency ceremony. The post Thompson Officially Sworn in as FHFA Director appeared first on DSNews. The post Thompson Officially Sworn in as FHFA Director appeared first on Appraisal Buzz.
Housing Wire
JUNE 22, 2022
A congressional watchdog determined a federal agency responsible for overseeing national banks — the Office of the Comptroller of the Currency (OCC) — has followed procedures “inconsistently” and used “outdated” and “unclear” guidance when examining banks for potential instances of redlining. Democratic lawmakers Rep. Joyce Beatty of Ohio, Rep.
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