Sat.Sep 04, 2021 - Fri.Sep 10, 2021

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End of forbearance programs won’t result in housing crash

Housing Wire

One year ago this month, I coined the term forbearance crash bros , an updated name for the housing bubble boys who never got their housing crash in 2020 so they moved the collapse of housing to 2021. Many other articles were written in tribute to this wonderfully talented group of internet crash callers. As we are in September 2021, we can safely say the housing crash has been moved once again to next year.

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The housing market is trying to get back to normal

Sacramento Appraisal Blog

Normal? That’s not a word we’ve used much to describe the housing market lately, but we are finally starting to see some normalcy. Many parts of the country are showing what looks to be normal seasonal slowing and that is a sight for sore eyes. Anyway, let’s talk about this and then I have lots […].

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Mortgage Fraud in the Appraisal Industry

Appraisal Buzz

In today’s Buzzcast, we dive into mortgage fraud within the industry. Today we have Bridget Berg, Senior Director of Fraud Solutions Strategy for Corelogic, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while Joan and Bridget discuss the increase in fraud, how it keeps happening, and how it can be stopped. How exactly are appraisers seeing fraud in the current market?

Appraisal 369
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The Best Idea for IT Support for Your Appraisal Office

The Appraiser Coach

Technology is important to your business. Sometimes, it can be a challenge to keep your computer, your systems, your network, your internet, and the software you use all running and. Read More.

Appraisal 326
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Wells Fargo to pay $250 million for “reckless practices”

Housing Wire

Wells Fargo has been slapped with a $250 million civil money penalty by the Office of the Comptroller of the Currency for “unsafe or unsound practices” pertaining to their home lending loss mitigation program this week. According to the OCC, the fine is also a result of the bank violating the terms of a 2018 compliance consent order , which alleged that Wells Fargo did not implement or maintain a compliance risk management program proportionate with the bank’s size, complexity and risk pro

Lending 446
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Fear of Science?

George Dell

Science is systematic way to build and organize knowledge. What’s to fear? Science is a search for the truth. Scary. How can the search for truth be scary? It is especially easy to deny the results of systematic study, if one can latch on to other’s fears, perpetuated misinformation, and wishful thinking. […]. The post Fear of Science? appeared first on George Dell, SRA, MAI, ASA, CRE.

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More Trending

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Building Materials Prices: Large Increases Year-To-Date

Eyes on Housing

According to the most recent release of the Bureau of Labor Statistics Producer Price Index (PPI), the prices of goods used as inputs to residential construction including and excluding energy have risen 19.0% and 12.0%, respectively, year-to-date (YTD). In contrast, the index for final demand goods has climbed 7.2% and that for final demand goods less food and energy is.

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UWM launches AMC-free appraisal program

Housing Wire

United Wholesale Mortgage (UWM) announced today that it will no longer require its brokers to use appraisal management companies to complete appraisals. The Pontiac, Michigan-based wholesale lender will instead coordinate appraisals in-house, contracting with appraisers directly, offering appraisers and brokers a way to bypass AMCs altogether, which UWM CEO Mat Ishbia characterizes as “middlemen.”.

Appraisal 438
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5 Fields to Add to Your Digital Healthcare Shift Logs

GoForrmz

Record healthcare data using digital forms equipped with these five impactful fields Healthcare is fast-paced, round-the-clock work and with no room for error. Whether a patient seeks care from a senior care facility , an emergency room, or a small private practice, patients count on healthcare professionals for prompt, quality care. Paper-based documentation jeopardizes efficiency in the workplace with delays, lost documentation, illegible print, and more, ultimately putting your healthcare pra

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Paradatec’s Mortgage Document Technology Now Available in AI-Cloud Offering

Appraisal Buzz

Paradatec , a provider of AI-based document classification and data extraction technology for mortgage loan processing, now offers its software via the cloud. That means lenders and servicers can easily access the company’s automated AI and machine learning tools via the cloud. “Our clients can now forego investing in their own server and network infrastructure and ongoing administration costs, and instead leverage our secure cloud environment,” says Neil Fraser, director of U.S. operations for

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Residential Construction Loan Growth

Eyes on Housing

The second quarter of 2021 marked the second consecutive quarter of loan growth for residential construction loans. These gains have lifted the year-over-year growth rate, marking an expansion of outstanding loans for home builders. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 4.9% during the second quarter, even as the market cooled off strong.

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Mortgage lenders need to lean in to consumer expectations

Housing Wire

When it comes to consumers’ growing desire for a seamless, fully digital home-buying experience, coupled with COVID-19’s influence on buying behaviors, it’s safe to say there truly is “no turning back.”. The pandemic had a profound impact on the home-buying experience. Lenders that may have been holding out on embracing automation and technology were forced to adapt at breakneck speed to continue to serve customers.

Mortgage 411
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5 Features to Include In Your Digital PropTech Forms

GoForrmz

Seamlessly enhance PropTech data collection with these powerful digital form features PropTech addresses the challenges faced by clients and teams researching, renting, buying, selling, or managing properties. The real estate industry has grappled for too long with manual, tedious leasing and payment processes, unaffordability, lack of flexibility, and more.

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The Industry’s Rising Stars to be Honored in Dallas

Appraisal Buzz

Women pioneers in the mortgage space will be recognized by their peers in-person, in Dallas at the upcoming Five Star Conference. The post The Industry’s Rising Stars to be Honored in Dallas appeared first on theMReport.com. The post The Industry’s Rising Stars to be Honored in Dallas appeared first on Appraisal Buzz.

Appraisal 195
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July Construction Job Openings

Eyes on Housing

In the July labor market data, job openings for the overall economy increased to 10.9 million open positions. What had been a challenge in certain sectors, like construction, continues as a broad labor access issue as businesses seek workers as the economy reopens. The count of open construction jobs weakened in July to 321,000 unfilled positions, according to data from.

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FHFA requires GSEs to submit annual equity plans

Housing Wire

The Federal Housing Finance Agency (FHFA) will require the government sponsored enterprises to submit annual plans to advance equity in housing finance for the next three years. The first annual plan, which the GSEs must submit and implement in less than four months, must specifically include plans to reduce the racial or ethnic homeownership gap and reduce underinvestment or undervaluation in areas that were formerly redlined.

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No Mandatory AMC Use

Appraiserblogs

When you work with UWM Appraisal Direct… if a borrower pays $500 for an order, the entire fee goes to you. UWM doesn’t make $1 on the order. No appraisal management fees… This announcement just popped into my email, from HousingWire: UWM launches AMC-free appraisal program UWM to coordinate appraisals in-house United Wholesale Mortgage (UWM) announced today that it will no longer require its brokers to use appraisal management companies to complete appraisals.

Appraisal 117
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The Average Home Down Payment Crosses $100K in California 

Appraisal Buzz

A new analysis by LendingTree has found that the average down payment has kept pace with record-high home prices, with some down payments coming in at 88% of the median area income. . The post The Average Home Down Payment Crosses $100K in California appeared first on theMReport.com. The post The Average Home Down Payment Crosses $100K in California appeared first on Appraisal Buzz.

Appraisal 195
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[Press & News] GoFormz Closes Series A Funding Led By Shasta Ventures

GoForrmz

We are thrilled to announce we have closed the final allotment of our Series A financing, led by Shasta Ventures This funding will be used to further strengthen our Product-Led Growth model and expand our global customer base. “ As GoFormz’s earliest investor, we’ve seen that its business freemium offering has proven to be a highly successful customer acquisition engine.

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Biden affordability efforts make no waves in housing industry

Housing Wire

Last week, the Biden administration unveiled a multi-pronged proposal for federal agencies to address the lack of housing inventory, ahead of action from Congress. While the announcements didn’t include any major new programs, federal agencies will restart programs that previously lapsed, such as the U.S. Treasury and the Department of Housing and Urban Development ’s risk-based sharing program, and increase funding to existing programs.

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DEAR HUD… What’s Your End Game?

Appraiserblogs

Dear HUD, recently, within the past year or so, you have been on a crusade to prove discrimination and racism in the appraisal process. Your actions haven’t gone unnoticed by many within the appraisal profession as well as outside it. It’s become clear that you are the go to organization for complaints. Ok. Please read this in its entirety and see my thoughts at the end before making a judgement.

Valuation 109
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NMI Holdings Promotes Adam Pollitzer to President and CEO 

Appraisal Buzz

Current EVP and CFO is promoted to new role and will have a set on the company’s Board of Directors when he assumes his new role come January. . The post NMI Holdings Promotes Adam Pollitzer to President and CEO appeared first on DSNews. The post NMI Holdings Promotes Adam Pollitzer to President and CEO appeared first on Appraisal Buzz.

Appraisal 195
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‘Strategic relationships’ may be missing in key transactions

Valuation Review

Valuation Review recently reported the appointment of Tony Lenamon as the Americas head of valuation advisory for the commercial real estate firm JLL. Lenamon discussed his new role and some other matters relevant to the valuation industry. Red on for more of our conversation.

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Mortgage applications continue downward trend

Housing Wire

Mortgage application volume declined by 1.9% as of Sept. 3, falling to its lowest level since mid-July, according to the Mortgage Bankers Association’s weekly survey published on Wednesday. On an unadjusted basis, MBA’s index decreased by 3% compared to the previous week. Pushing the decline was the refinance index, which dipped by 3% from the previous week and was 4% lower than the same week year-over-year, the MBA said.

Mortgage 420
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Opinion, Estimate, or Prediction?

Appraiserblogs

Join George Dell & Craig Gilbert for a free 2-hour webinar on Market Price Indexing: For Peaking Prices… Price indexing is also known by other words, such as time adjustments or market conditions adjustments or trend analysis. A number of techniques have been recommended over the years. Most are flawed. Oddly, the algorithm mechanics of calculating are fairly simple and intuitive.

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The Week Ahead: GSE Creating Opportunities for Low-Income Borrowers

Appraisal Buzz

A new webinar from Freddie Mac will detail the Refi Possible product and how it can enable millions of homeowners to reduce their monthly mortgage expenses through this new offering. The post The Week Ahead: GSE Creating Opportunities for Low-Income Borrowers appeared first on DSNews. The post The Week Ahead: GSE Creating Opportunities for Low-Income Borrowers appeared first on Appraisal Buzz.

Appraisal 195
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LRES acquires management company

Valuation Review

LRES Corp., a diversified REO/asset management and valuations company, recently signed a definitive agreement to acquire Keystone Asset Management, Inc., a Pennsylvania corporation, LRES announced in a press release. The deal was expected to be completed September 1, 2021. Read on for more details about this acquisition.

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Orchard reaches unicorn status with $100M funding round

Housing Wire

Orchard , which operates a home-buying and selling platform, announced it has raised $100 million in Series D funding at over a $1 billion valuation. Accomplice led the round with participation from repeat Orchard investors FirstMark , Revolution Growth , First American , Juxtapose and a syndicate of new investors. Last year, the company completed a $69 million series C funding round.

Lending 401
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2022 7hr USPAP Update Course

Appraiserblogs

Appraisers, if your license renews in 2022, you will need to take the ‘new’ USPAP 7hr Update course. See below. The Update class you have already taken for the 2020-21 book, which has been extended to Dec. 31, 2022, cannot be used for CE credit again. However, I’m somewhat confused as to the effective dates of this ‘new’ Update class. It says “2022-23” which implies it will be valid through the end of (or into?

Law 91
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Mortgage Credit Availability Grew in August

Appraisal Buzz

Mortgage credit availability increased in August according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool. The MCAI rose by 3.9% to 123.7 in August. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.

Mortgage 195
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Communication Tips for Real Estate Can Mean a Smoother Transaction

McKissock

Maintaining good communication with all parties involved in a real estate transaction makes closings smoother and faster. As an agent, you must act somewhat like a symphony conductor—coordinating the different players to achieve a successful transaction. It begins with the listing agent’s communication skills and accessibility to the seller. If you are the buyer’s agent, you need to be easily accessible by phone and quickly return their calls.

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Class Valuation acquires another AMC

Housing Wire

Appraisal management company Class Valuation , a subsidiary of investment firm Gridiron Capital , acquired Kansas City, Missouri-based Pendo Management for an undisclosed sum. Pendo, a national appraisal management company, has touted its standardized process for employee and appraiser relations, which it said yielded a higher quality appraiser network and employee base.

Valuation 370
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Hard Money Loan 101: Here’s Everything Investors Should Know

BiggerPockets

Hard money loans may not be difficult to get, but they can be expensive. Despite the cost, they’re an essential tool for investors. Knowing when to use hard money and how to get it is critical.

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Perfecting Collateral Upfront

Appraisal Buzz

Author Danny Byrnes of NTC discusses ways to build processes that effectively and efficiently manage collateral throughout the life of a loan. The post Perfecting Collateral Upfront appeared first on theMReport.com. The post Perfecting Collateral Upfront appeared first on Appraisal Buzz.

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