Sacramento Appraisal Blog
JULY 11, 2022
“The housing market is getting back to normal.” I hear that quite a bit, but is it true? Well, yes and no. Let me explain. UPCOMING (PUBLIC) SPEAKING GIGS: 7/15/2022 Lunch & Learn Market Update (sign up (for real estate agents)) 7/20/2022 Beer & Stats at Out of Bounds (sign up (for real estate agents)) 7/26/2022 […].
Housing Wire
JULY 11, 2022
As Wells Fargo contemplates a smaller footprint in mortgage, the nation’s fourth-largest bank named Kleber Santos as chief executive officer of consumer lending. Santos joined the bank in November 2020 as head of diverse segments, representation and Inclusion (DSRI), a role he will keep until the bank names a permanent replacement. Before Wells Fargo, he worked for Capital One for 15 years in different positions, including as retail and direct banking president. .
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Appraisal Buzz
JULY 11, 2022
In residential appraising, the cost approach and the income approach have in many cases become less utilized in favor of sole reliance on the sales comparison approach. There are occasions when the income approach can be the primary indicator of value for residential properties, such as developments with a high percentage of homes owned by investors.
Housing Wire
JULY 11, 2022
As lenders look to pivot strategies amid refi-volume all but drying up, non-QM product options have risen in popularity. In light of that, HW Media CEO Clayton Collins recently sat down with Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions , to talk all things non-QM lending. . “Everybody in the industry knows how fast rates have gone up this year,” Hutchens said.
Appraisal Buzz
JULY 11, 2022
New guidance from the Bureau affirms that “permissible purposes” are required to use and share credit reports and background reports by companies compiling personal data. The post CFPB Furthers Protection of Customer Privacy appeared first on DSNews. The post CFPB Furthers Protection of Customer Privacy appeared first on Appraisal Buzz.
Housing Wire
JULY 11, 2022
Black Knight this week launched a tool that enables lenders to compare loan estimates and closing disclosures from closed loans to minimize expenses in a higher rate environment. Dubbed the Black Knight “fee cures suite,” the program combines loan information from the lender’s loan origination system with the firm’s Ernst fee data, as well as analytics from the company’s “actionable intelligence platform,” to minimize mandatory 0% and 10% fee cures.
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Housing Wire
JULY 11, 2022
Depository bank Citi has bolstered its mortgage business with the hire of industry veteran Darin Lugat, following a reorganization of its mortgage divisions to align with the bank’s retail operations. Starting Monday, he will be the new division lending executive for New York, New Jersey and Northeast Suburban, according to an emailed news release from a Citi spokesman.
Appraisal Buzz
JULY 11, 2022
Releasing the second-quarter results of its VeroFORECAST, Veros Real Estate Solutions, an enterprise risk management and collateral valuation service company, predicts that home prices will appreciate on average 4.5% over the next 12 months. This forecasted number, while still showing signs of strong growth, is down by half from Veros’ 7.1% appreciation rate predicted in the … The post Veros Heavily Revises Appreciation Forecasts appeared first on DSNews.
Housing Wire
JULY 11, 2022
Mortgage consulting firm LendArch has hired Karthik Kumar, the former global mortgage practice head at Tata Consultancy Services (TCS). He will serve as LendArch’s executive vice president and chief operating officer. . Kumar was a manager at Standard Chartered Bank from 2002 to 2004. He then spent 18 years at TCS, where he focused on solution architecture, operational delivery and entity transformation for most of the top-40 mortgage lenders and the largest vendors. “We intend to ch
Appraisal Buzz
JULY 11, 2022
Redfin reports that nearly 60,000 home-purchase agreements fell apart in June, as mortgage rates steadily climbed toward the 6%-mark, thus compounding affordability issues. The post Mortgage Rate Gains Canceling Pending-Sale Agreements appeared first on DSNews. The post Mortgage Rate Gains Canceling Pending-Sale Agreements appeared first on Appraisal Buzz.
Housing Wire
JULY 11, 2022
The federal government’s signature program to help homeowners from falling behind on their mortgage, having utilities shut off, or being forced out of their homes, is finally being rolled out across America through pilot programs. But servicers say that dealing with the $10 billion fund, dubbed the “Homeownership Assistance Fund,” has been chaotic and cumbersome.
Appraisal Buzz
JULY 11, 2022
Nationwide, roughly 60,000 home-purchase agreements fell through in June, equal to 14.9% of homes that went under contract that month, according to the latest analysis from Redfin. That’s the highest percentage since March and April 2020, when the housing market all but ground to a halt due to the onset of the coronavirus pandemic. It compares with 12.7% a month earlier and 11.2% a year earlier.
Eyes on Housing
JULY 11, 2022
Average hourly earnings for residential building workers* continue to rise in May as the construction labor market remains tight, meanwhile the growth rate is trending down given tightening financial conditions and increased economic uncertainty. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $29.18 in May 2022, increasing 5% from $27.79.
Appraisal Buzz
JULY 11, 2022
Sean Ryan, CEO of Aspen Grove Solutions, speaks to DS News about leveraging tech to aid mortgage servicers, lessons learned from two and a half decades in the industry, and the keys to the company’s longevity. The post The View From 25 Years in appeared first on DSNews. The post The View From 25 Years in appeared first on Appraisal Buzz.
McKissock
JULY 11, 2022
In residential appraising, the cost approach and the income approach have in many cases become less utilized in favor of sole reliance on the sales comparison approach. There are occasions when the income approach can be the primary indicator of value for residential properties, such as developments with a high percentage of homes owned by investors.
Appraisal Buzz
JULY 11, 2022
Part one of this series on the subject of Appraisal Review provided an overview of the risk management concepts used by many lenders today to manage risk associated with real estate lending. Distinctions were made between the quality control and quality assurance functions as they pertain to risk management. This installment in the series will discuss the methods and processes used to execute both quality control and quality assurance.
BiggerPockets
JULY 11, 2022
For you old folks out there, do you remember that irritating commercial from decades ago? The one where the nasally guy is sitting in front of a big desk with […].
Appraisal Buzz
JULY 11, 2022
Management consulting firm adds 35-plus year industry veteran whose team pioneered the development of Fannie Mae’s Desktop Underwriter. The post Andrew Weiss Named Partner at Blackfin Group appeared first on DSNews. The post Andrew Weiss Named Partner at Blackfin Group appeared first on Appraisal Buzz.
Total Motgage
JULY 11, 2022
Your debt-to-income ratio, or DTI, signals your ability to repay a loan to your lender. A higher DTI means you carry too much debt compared to your monthly income, which could pose a greater risk to your lender.
Town & Country Residential Appraisals
JULY 11, 2022
In real estate, we often have some funny circumstances happen to us. After speaking with one of my administrative assistants about a particular incident that happened today, she suggested that I should someday write these things down. Over the years, my staff have been quite entertained by a few of these stories. This gave me the bright idea to have a subset of articles written about my own calamities and the funny circumstances we find ourselves in as appraisers.
Total Motgage
JULY 11, 2022
Several items are necessary for mortgage approval, and these things often come into play during pre-approval. This article will help you understand the documents and proof that are critical to earning this confirmation as you seek financial help.
Mortgagebroker News
JULY 11, 2022
Now is the time for brokers to innovate and set themselves apart, says industry executive
Total Motgage
JULY 11, 2022
What you pay to borrow money goes beyond your interest rate. By knowing what APR on a mortgage means, you can get a better understanding of the total cost of your mortgage.
Mortgagebroker News
JULY 11, 2022
Your guide to inflation and how the Bank of Canada is responding to the current data
AmeriMac
JULY 11, 2022
It can be tough to sell your home and to move to another one. When you have to relocate quickly for a job, the process can be even worse. To make it an easier process, you can get a relocation appraisal. This is an appraisal that will give your company, as well as you, an estimated price for the house that is being sold. This makes it easier to know what you can expect when it’s sold.
Mortgagebroker News
JULY 11, 2022
The foundations of a mortgage business are as important as the path and the destination
San Jose Real Estate
JULY 11, 2022
The Ranch on Silver Creek is a newer subdivision in the Evergreen area of San Jose with the 95138 zip code (that zip code is shared with part of South San Jose on the valley floor). It enjoys a lovely knoll top location – and recently I flew over it and grabbed a nice image […].
Mortgagebroker News
JULY 11, 2022
The affordability squeeze is only getting harsher, according to various observers
Lamacchia Realty
JULY 11, 2022
Boston 25 Zip Trips are back and Lamacchia Realty will be there all summer long ! Most recently we were in Yarmouth, MA where Anthony spoke with Gene Lavanchy about the Yarmouth housing market including the number of sales, average prices, and more. Check out the video to the right to learn what the market is up to in that area! The post Boston 25 Zip Trip: Yarmouth, MA appeared first on Lamacchia Realty.
Mortgagebroker News
JULY 11, 2022
Interesting developments could be ahead on a prominent debate in the industry
Total Motgage
JULY 11, 2022
A U.S. Department of Agriculture (USDA) loan is designed to support rural land development. USDA home loans are meant for home buyers with low to moderate incomes or those buying for the first time.
Mortgagebroker News
JULY 11, 2022
New housing will emerge in multiple projects across the region
Total Motgage
JULY 11, 2022
Here’s what you should know about mortgage amortization, how it works, and how to calculate your mortgage amortization schedule.
Mortgagebroker News
JULY 11, 2022
Runaway inflation is forcing the Bank of Canada's hand
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