Wed.Aug 03, 2022

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Can lower mortgage rates stop the housing recession?

Housing Wire

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. In less than a year, we went from 2.78% on the 30-year fixed to as high as 6.28% , then recently got as low as 5% — only to have another move higher this week to 5.30%. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% to 4.5%.

Mortgage 498
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What Appraisers Need to Know About Quality Control

Appraisal Buzz

Today’s Buzzcast interview is with Todd Rasmussen, President and Chief Operating Officer of Equity Valuation Partners. We sat down with Todd and Joan Trice, Founder of Allterra Group, LLC, to discuss what appraisers need to know about the current market, quality control, and new technology. What are the most common revisions that appraisers have to fix in their reports?

Appraisal 363
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Expect a foreclosure spike in the coming months

Housing Wire

Distressed mortgages dating back to the height of the pandemic are expected to fuel a jump in foreclosure activity over the next 12 months, although the foreclosure rate is still expected to remain below the pre-pandemic historical average, a new report from Auction.com contends. The prediction by one of the nation’s leading marketplaces for distressed assets, is based on a survey of some 50 Auction.com clients, including private-sector mortgage servicers and government-sponsored enterprises (GS

Inventory 450
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Executive Leadership Changes at nCino

Appraisal Buzz

Matt Hansen is the new chief product officer of nCino , which offers cloud banking and digital transformation solutions for the global financial services industry. In addition, Jaime Punishill has been named chief market officer (CMO) of nCino. Also, Ben Miller has been named CEO of SimpleNexus , which nCino acquired in January. Hansen is the founder of SimpleNexus, and served as its CEO for more than 10 years.

Appraisal 195
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New American Funding eliminates hundreds of jobs

Housing Wire

New American Funding has laid off hundreds of employees across multiple rounds of workforce reductions this year, multiple former employees told HousingWire. The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said.

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Mr. Cooper Signs on as First Servicer Using Resolve Tool from Freddie Mac

Appraisal Buzz

Mr. Cooper is the first servicer to integrate their proprietary system with Freddie Mac ’s Resolve default management tool via an application programming interface (API). Other servicers have integrated through their vendor platforms, but Mr. Cooper is so far unique in using its own system (CMOD System) to connect directly to Resolve. “Freddie Mac is expanding our business-to-business solutions for direct connection to our data and decisions, providing our clients opportunities for more automati

Tools 195

More Trending

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Home Prices Rise Faster Than Inflation

Appraisal Buzz

The average price per square foot of a home hit a new record in July as a new study revealed that these prices have increased 310% since 1980. According to Home Bay, a California-based real estate brokerage, the increase in the price of a square foot of property has exceeded inflation by 139% since 2020 topping … The post Home Prices Rise Faster Than Inflation appeared first on DSNews.

Brokerage 195
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Opinion: The elasticity in mortgage employment

Housing Wire

Is there a new way to address the truth about staffing in the mortgage industry? When will we learn to be more transparent to our employees — people with families and bills — and stop the endless flow of layoffs? While taking with Clayton Collins, CEO of HW Media, he used the term “elasticity” when describing the housing market and mortgage employment.

Mortgage 393
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Mortgage Applications Inch Higher at End of July, MBA Finds

Appraisal Buzz

Mortgage applications increased 1.2% on a seasonally adjusted basis from one week earlier, according to The Market Composite Index data from the Mortgage Bankers Association ’s (MBA) Weekly Mortgage Applications Survey for the week ending July 29, 2022. On an unadjusted basis, the index increased 1% compared with the previous week. The Refinance Index increased 2% from the previous week and was 82% lower than the same week one year ago.

Mortgage 195
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Is home equity, now at $11.5 trillion, at its peak?

Housing Wire

Home equity climbed to a historic high of $11.5 trillion in the second quarter, but it could be nearing its peak as major equity-rich markets on the West Coast begin to show signs of decline. Tappable equity, the amount available for homeowners to access while retaining at least 20% equity in their homes, rose again for the 10th consecutive time, according to Black Knight.

Lending 370
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Moving Into the Eye of the Storm

Appraisal Buzz

Redfin reports homebuyers are relocating to climate risky areas, despite intensifying natural disasters, as homes with high fire and flood risk sold for a premium during the pandemic. The post Moving Into the Eye of the Storm appeared first on DSNews. The post Moving Into the Eye of the Storm appeared first on Appraisal Buzz.

Appraisal 195
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Class Valuation acquires AMC AppraisalTek

Housing Wire

National appraisal management company Class Valuation is extending its reach, with the acquisition of yet another appraisal management company. The AMC today announced the acquisition of AppraisalTek, a Chandler, Arizona-based AMC, for an undisclosed sum. Class Valuation said it would bring on AppraisalTek’s 75 full-time employees. AppraisalTek was founded in 2003 by Robert Oglesby.

Valuation 393
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How to Avoid Accusations of Bias?

George Dell

Editor’s Note: This is Part 1 of a new series on Bias. Easy – Just don’t be biased. Don’t even think about it! Alternately, we can have the government regulate and require it! To know what ‘unbiasedness’ is, and how to achieve it, we have to be able to measure it. We cannot enforce anything, […]. The post How to Avoid Accusations of Bias?

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Don’t miss the Future of Title panel at HW Annual Oct. 4

Housing Wire

From tech adoption and innovation to M&A activity and partnerships, there have been a lot of shifts in the title sector, making “The Future of Title” session one of the can’t-miss panels this year at HW Annual on Oct. 4. Mortgage and real estate professionals will want to pay close attention to this panel as the speakers discuss what the next year has in store for all things title, including insights into the latest innovations and the potential of blockchain to transform the industry.

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HUD Announces $2.8B of Funding to Help Combat Homelessness

Appraisal Buzz

The U.S. Department of Housing and Urban Development (HUD) today announced that it will provide approximately $2.8 billion in competitive funding to homeless services organizations across the country for supportive services and housing programs for people experiencing homelessness. The funding opportunity reflects the Biden-Harris Administration’s continued commitment to equity and evidence-based solutions to address homelessness. … The post HUD Announces $2.8B of Funding to Help Combat Ho

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Servicing business carries Pennymac in Q2 2022

Housing Wire

On the strength of its servicing segment, California-based Pennymac Financial Services delivered a $129.2 million profit in the second quarter, which was down 25.6% quarter-over-quarter and 36.7% year-over-year, the company reported Tuesday. The nonbank lender’s top executives said the company reported a strong performance given the downturn in mortgage originations.

Business 370
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Would-Be Sellers Face Competition Among Smaller Pool of Buyers

Appraisal Buzz

HouseCanary, Inc. has released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between July 2021 and July 2022. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform. “In July, economic uncertainty and another steep interest rate hike from the Fed appeared to have impacted … The post Would-Be Sellers Face Competition Among Smaller Pool of Buyers appeared first on DSNews.

Sellers 195
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More Prospective Buyers Are Actively Searching for a Home

Eyes on Housing

The share of prospective home buyers who are actively engaged in the process to buy a home rose to 49% in the second quarter of 2022, after declining for three straight quarters. The pivot is likely driven by less competition from buyers who have exited the market, which has encouraged many of those remaining to become active buyers. Except for.

Buyers 189
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6 Ways Agents Can Use Their MLS Listings To Help Appraisers

Birmingham Appraisal

Appraisers Research and Analyze The Market. Most agents in the Birmingham, Alabama market where I work are great about answering any questions I have about their listings. It’s an appraiser’s job to mimic what a detective might do when they are researching information to help them understand the facts of a case so we tend to ask a lot of questions.

Agents 82
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Banks Report Unchanged Home Lending Standards

Eyes on Housing

In the second quarter iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, banks reported largely unchanged lending standards across all residential real estate (RRE) loans. Major net shares of banks reported weaker demand for most RRE loans except for home equity lines of credit, for which a significant net share of banks.

Lending 161
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3 Steps to Creating a Powerful Listing Presentation

McKissock

In real estate, when it comes to building your business, converting leads is the name of the game. One of the top ways of convincing those potential clients that you’re the right agent for them is by creating a pristine listing presentation. A listing presentation is essentially an interview to represent a potential seller in a real estate transaction.

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The Best Real Estate Appraisal Office in Westmoreland County 2022

Town & Country Residential Appraisals

Town & Country Residential Appraisals would like to thank you from the bottom of our hearts for voting us the #1 Real Estate Appraisal Office in Westmoreland County for the year 2022!!! For over 13 years we have prided ourselves with providing the best in service and the highest quality professional independent reports. Now we have been recognized and couldn’t be more grateful.

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The Benefits of Conducting Appraisals Remotely

Valcre

Appraisals are essential to buying, selling, managing, and investing in a commercial property. Regular appraisals help owners know the world of their property before they put it on the market to sell. Commercial real estate appraisals help determine the fair price of commercial properties, like offices, apartment buildings, industrial sites, shopping centers, etc.

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What’s the Best Rental Estimate Website 2022?

Mashvisor

Investing in real estate in 2022 is all about choosing the right rental estimate website to use when planning and analyzing your investment.

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3 Reasons For Why You Should Brand Your Rental Business

BiggerPockets

What defines you as a landlord and sets you apart from the competition? If you struggle to answer this question, you should consider branding. Establishing a brand can be a […].

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Newfoundland housing market – what's happening?

Mortgagebroker News

The province is unlikely to see significant home price depreciation, St.

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50 Properties in 6 Months Using the Supercharged BRRRR Strategy

BiggerPockets

The BRRRR method (buy, rehab, rent, refinance, repeat) is commonly known among real estate investors as one of the fastest ways to build a portfolio of rental properties. The beauty […].

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Avison Young gives verdict on Edmonton office market

Mortgagebroker News

Foot traffic has significantly increased over the last few months

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Westrock Joins Realquantum Community of Innovators

Real Quantum

Westrock Joins Realquantum Community of Innovators. FOR IMMEDIATE RELEASE. Realquantum, the revolutionary web-native commercial real estate appraisal platform company, announced today that the national appraisal and consulting firm, WestRock Appraisal Services, Inc., (WestRock) has engaged Realquantum to help them streamline their commercial property valuation practice.

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Reverse mortgage boom could be on the way, report suggests

Mortgagebroker News

Strong growth potential also comes with heightened risk

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Mortgage demand increases after a four-week decline

Housing Wire

Demand for mortgage loans increased last week as a troubling economic outlook led to a decline in rates, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, increased 1.15% for the week ending July 29, after falling for four consecutive weeks to the lowest level in more than two decades. .

Mortgage 382
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TD launches new, streamlined process for brokers

Mortgagebroker News

Submitting referrals for the bank's protection plans is now more efficient

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Improve Your University’s Orientation Program

GoForrmz

Rethink your college orientation curriculum Planning and executing a successful university orientation is never a simple task; it’s coordinating experienced and novice staff with students who’re potentially away from home for the first time. It’s building a support network while establishing rules and finding a way to provide resources without preaching too many specific values to a diverse audience.

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Centum Financial announces latest executive appointment

Mortgagebroker News

New exec previously served as the network’s director of technology