Wed.Aug 03, 2022

Advantages of Starting Your Business in Cleveland

Cleveland Appraisal Blog

Are you considering starting a business in the Cleveland area? I moved from Denver, Colorado to the Cleveland area in 1996. It’s a great place to start a business! This week I welcome back guest blogger Seth Murphy who shares some advantages of starting a business in the Cleveland area. Enjoy!

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%.

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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.

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.

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

Appraisal Buzz

Cooper is the first servicer to integrate their proprietary system with Freddie Mac ’s Resolve default management tool via an application programming interface (API).

Tools 195

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.

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Movement hires two Fairway executives to boost sales team

Housing Wire

South Carolina-based Movement Mortgage has hired two executives away from rival Fairway Independent Mortgage to boost the growth and development of its distributed retail sales team.

Retail 329

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

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).

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.

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?

Price Per Square Foot Hits $169

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.

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.

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.

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.

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.

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.

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.

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.

Mortgage Apps End Four-Week Slide

Appraisal Buzz

The MBA reported mortgage application volume rose 1.2% this week, reversing course after the Fed rate hike announcement, and rising after a month-long decline. The post Mortgage Apps End Four-Week Slide appeared first on theMReport.com.

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.

One-Third of Declined Mortgage Applicants Eligible for DPA Programs

Appraisal Buzz

A recent analysis of HMDA data found that 33% of declined mortgage applications could have been made eligible with the assistance of downpayment assistance programs. The post One-Third of Declined Mortgage Applicants Eligible for DPA Programs appeared first on theMReport.com. The post One-Third of Declined Mortgage Applicants Eligible for DPA Programs appeared first on Appraisal Buzz. Around The Web

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.

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Contract Volume, New Listing Volume Experiences Largest Off-Seasonal Decrease

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 In July, economic uncertainty and another steep interest rate hike from the Fed appeared to have impacted … The post Contract Volume, New Listing Volume Experiences Largest Off-Seasonal Decrease appeared first on theMReport.com.

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.

JLL acquires valuation advisory firm

Valuation Review

JLL recently acquired Metropolitan Valuation Services (MVS). MVS is one of the largest independent commercial property appraisal and real estate consulting firms in the New York City area. Read on to find out more about this acquisition

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.

Modern technology meeting the needs of today’s commercial appraisers

Valuation Review

Earlier, Valuation Review reported about the partnership formed between Valcre, the software solution for commercial real estate appraisals, and Kidder Mathews, an independent commercial real estate firm with valuation and advisory services.

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.

Asteroom reveals data-capturing solution for Freddie Mac

Valuation Review

Asteroom Inc. recently announced it will launch a nationwide service to capture property dimension and condition reports for Freddie Mac’s ACE+PDR offering which started July 17th. Asteroom’s solution expands upon its existing desktop appraisal service for AMCs and lenders

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.

Clearbox, Voxtur partner

Valuation Review

Clearbox, LLC, a comprehensive credentials database of appraisers, trainees, real estate agents, and property data collectors, recently announced a new integration. Clearbox integrated its vendor panel management solution suite with the Voxtur Analytics Corp. valuation technology, Anow

Newfoundland housing market – what's happening?

Mortgagebroker News

The province is unlikely to see significant home price depreciation, St. John's broker says

Fannie Mae: Consumers frustrated with the market

Valuation Review

The Fannie Mae Home Purchase Sentiment Index decreased 3.4 points in June to 64.8, its second-lowest reading in a decade. Surveyed consumers continue to express pessimism about homebuying conditions, with only 20 percent of respondents reporting it’s a good time to buy a home, while the percentage of consumers who believe it’s good to sell now fell from 76 percent to 68 percent in July