Sat.Jul 17, 2021 - Fri.Jul 23, 2021

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Ransomware imperils title, mortgage industry

Housing Wire

Ransomware attackers hit major title industry cloud services provider Cloudstar , stopping an untold number of loans from closing on Monday. The ramifications for the title and mortgage industry may extend beyond the immediately impacted loan applications. Late Monday afternoon, Cloudstar’s services were still offline. In a statement, Cloudstar said it had already brought on third-party experts to assist in recovery efforts, and had already alerted law enforcement.

Mortgage 464
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Does it need a closet to be a bedroom?

Sacramento Appraisal Blog

Do you need a closet to be considered a bedroom? That’s a big question and the answer is simple. Actually, it’s not. Here are some things to consider. NOTE: This post does not address the requirements to be a bedroom. Here is a post I wrote about the four requirements to be a bedroom (over […].

Appraisal 431
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Dear Appraisers, Why do You Care about Your Competition’s Fees

The Appraiser Coach

As appraisers we often wear at least two different hats. You have heard me talk about the business owner cap versus the technician cap. While we often play both roles, Read More.

Appraisal 370
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Redfin: Housing Supply Side Is Beginning to Show Some Strengthening

Appraisal Buzz

According to a new report from Redfin , housing supply is gradually gaining momentum as the number of homes for sale begins to increase and pending sales continue a steady and seasonal decline. In turn, prices will stop rising as rapidly as they have been and an increasing number of homes for sale will see price drops. Pending home sales were up 9% year over year, representing the smallest increase since the four-week period ending.

Appraisal 370
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How Biden’s Neighborhood Homes proposal impacts real estate investors

Housing Wire

Auction.com buyer and real estate investor Sue McCormick is ahead of the curve when it comes to President Joe Biden’s plan to revitalize underserved neighborhoods while also providing affordable housing for low- and moderate-income homebuyers. “My passion is really going back into the neighborhoods I grew up in and helping to enhance those areas through my rehabs,” said McCormick, who lives in Atlanta but is buying investment properties in her hometown of Dayton, Ohio.

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Is Appraisal Systemically Biased?

George Dell

Appraisal standards and regulations are mostly designed to discourage personal bias. But what about traditional appraisal practice? To understand this question, we must separate personal bias from analytic bias. Personal bias can be open, declared prejudice – or it may grow from basic human instinct – towards those who look like us. This basic tribal […].

Appraisal 370

More Trending

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Jerry Mauricio to Head Up Compliance Efforts at Freddie Mac

Appraisal Buzz

GSE adds SVP and Chief Compliance Officer to oversee regulatory and conservatorship obligations. The post Jerry Mauricio to Head Up Compliance Efforts at Freddie Mac appeared first on theMReport.com. The post Jerry Mauricio to Head Up Compliance Efforts at Freddie Mac appeared first on Appraisal Buzz.

Appraisal 370
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Mortgage applications fall amid market jitters

Housing Wire

Mortgage applications decreased 4% for the week ending July 16, just one week after applications jumped 16% on the strength of falling mortgage rates. The 10-year Treasury yield dropped sharply last week, in part due to investors becoming more concerned about the spread of COVID variants and their impact on global economic growth, according to the latest survey from the Mortgage Bankers Association.

Mortgage 442
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Desire for Homeownership Continues to Increase

Eyes on Housing

Seventeen percent of American adults are considering the purchase of a home within a year, according to NAHB’s Housing Trends Report for the second quarter of 2021. The share (now seasonally-adjusted) has increased for five consecutive quarters, after hitting a series low of 10% in the first quarter of 2020. The upward trend is clear evidence of Americans’ growing desire.

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The Pandemic Is Making It Difficult for Mom-and-Pop Landlords to Maintain Their Properties

Urban

Assistance could be a lifeline for many tenants and landlords, providing vital funding for much-needed preservation of their homes and properties.

Landlords 207
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Mortgage Delinquency Rate Falls to Lowest Level Since Pandemic Began

Appraisal Buzz

The national mortgage delinquency rate in June hit its lowest level since the onset of the pandemic, falling to 4.37% of all loans, according to Black Knight’s First Look report. Black Knight notes that delinquencies have now fallen to below their pre-Great Recession average. Still, more than 1.5 million homeowners are seriously delinquent (90 days or more past due but not in foreclosure) – nearly four times pre-pandemic levels.

Mortgage 370
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Borrowers get more options as foreclosure deadline nears

Housing Wire

With the foreclosure moratorium for federally backed mortgages set to expire next week, the Biden administration is giving borrowers additional options to reduce their mortgage payments. The Department of Housing and Urban Development (HUD), Department of Agriculture (USDA), and Department of Veterans Affairs (VA) will give homeowners options to reduce their monthly principal and interest by lengthening the term of the mortgage, bringing the agencies “closer in alignment with options for homeown

Mortgage 433
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Have High Prices Reduced New Construction Interest?

Eyes on Housing

The share of prospective home buyers looking to buy a newly-built home peaked at 42% in the fourth quarter of 2020, before falling to 38% and 33%, respectively, in the first two quarters of 2021. The drop is most likely the direct result of strong gains in new home prices in 2021, which have been driven by double-digit growth in.

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5 Digital Logs for Food Services

GoForrmz

Digitally transform your food services daily operations with digital forms and powerful integrated features Digital forms are powerful assets for the food and beverage industry. When relying on paper forms or PDFs, simple miscommunication results in misplaced or lost forms, delivery delays, and human error, which concludes with costly consequences. For example, capturing the wrong temperature data could result in food contamination or mistaken product loss that can damage your business operation

Business 153
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Freddie Mac Names Jerry Mauricio SVP and Chief Compliance Officer

Appraisal Buzz

After serving in an interim CCO capacity since January, 20-plus year veteran takes over SVP role at GSE. The post Freddie Mac Names Jerry Mauricio SVP and Chief Compliance Officer appeared first on DSNews. The post Freddie Mac Names Jerry Mauricio SVP and Chief Compliance Officer appeared first on Appraisal Buzz.

Appraisal 370
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3 solutions to a gridlocked housing market

Housing Wire

Competition for home buyers is tougher than ever right now, as tightened housing stock supply continues to plague the housing market. Acra Lending is doing what it can to help free up inventory. The company specializes in non-QM products, a sector that serves many borrowers who might not fit agency loans. By working with borrowers in unusual circumstances, Acra is helping create opportunities for inventory to open up. 3-month bank statement.

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The Noose is Hung…

Appraiserblogs

The Noose is hung and… When Dodd Frank was implemented lenders started using appraisal management companies, eliminating appraisers relationships basically overnight. Appraisers embraced the change reluctantly and started accepting assignments from appraisal management companies. Over the years appraisal management companies showed their true colors and lowered fees, required appraisers to pay upload fees and forced many appraisers to pay for unnecessary back ground checks.

Appraisal 147
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The Top 3 Ways to Use Digital Forms in Your Gym

GoForrmz

Making impactful operational changes to onboarding new gym members with these top digital forms In this day and age, exercising is engraved into most daily schedules. Nowadays, there are various ways to train, whether it’s at a fully functional gym with free weights and workout equipment or a more specialized gym like a rock climbing facility – and they all require similar forms in order to participate.

Clients 146
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Mortgage Rates Continued to Drop This Week

Appraisal Buzz

Mortgage rates continued to trend down this week, with the average rate for a 30-year falling to 2.78%, down 10 basis points from 2.88% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 3.01%. “Concerns about the Delta variant, and the overall trajectory of the pandemic, are undoubtedly affecting economic growth,” says Sam Khater, chief economist for Freddie Mac, in.

Mortgage 370
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The DOJ vs. NAR: What’s the impact to real estate agents?

Housing Wire

The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire Senior Real Estate Reporter Matthew Blake answered questions about his latest coverage on the impact of the DOJ’s decision and how the industry is gearing up to respond. During the Q&A, Blake discussed the ramifications of previous DOJ investigations into NAR and conversations he has had with top-level agents on how they’re feeling about this news.

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FTC Has Cost the Appraisal Profession Dearly

Appraiserblogs

The FTC has cost the appraisal profession dearly in their pursuit of the State of Louisiana. This entire episode has been entirely misguided… The FTC’s time SHOULD have been spent investigating the AMC trade group known as REVAA to find TRULY non-competitive practices… The FTC is asking for public comments on the consent decree by the Louisiana Real Estate Appraisal Board.

Appraisal 147
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Top Benefits of Utilizing Digital Construction Job Site Safety Orientation Forms

GoForrmz

Focusing efficiency efforts on safety in the construction workplace can increase your chances of winning the next bid With each construction project awarded, there are safety measures that are required to be met in order to work a job site. It is the responsibility of the site superintendent to oversee operations and manage various subcontractors on site.

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New Home Purchase Apps Fall 23.8% YoY in June

Appraisal Buzz

June home sales suffered for the third straight month, due to a rise in regulatory costs, high-priced materials, and a lack of labor. The post New Home Purchase Apps Fall 23.8% YoY in June appeared first on theMReport.com. The post New Home Purchase Apps Fall 23.8% YoY in June appeared first on Appraisal Buzz.

Appraisal 370
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Buying & selling in America’s largest retirement community

Housing Wire

America’s largest retirement community spans three Florida counties and more than 70 miles. It has over 120,000 residents — all of whom are at least 55 years of age. And if the sheer size of the gated, master-planned complex known as The Villages doesn’t convince you of the uniqueness of the community – which was developed in the 1980s by developer Harold Schwartz and his son H.

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The FHFA Has a Small Window to Enact a Policy to Create a More Equitable Housing Finance System

Urban

Could extending a fee help the FHFA fund more affordable housing?

Finance 155
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Appraisal Inspection Vs. Home Inspection: Your Role as an Appraiser

McKissock

Appraisers often balk at assignments that require a more detailed inspection of the subject property (e.g., FHA appraisal assignments ) because they don’t want to be considered a “home inspector.” Do you believe you are acting as a home inspector when you complete a property inspection as part of an FHA assignment? No matter how you may have answered this question in your mind, let’s explore some of the issues around appraisal inspection vs. home inspection.

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UWM Celebrates National Mortgage Brokers Day at NYSE

Appraisal Buzz

Celebrating the independent spirit of the Mortgage Broker, UWM visited New York City to ring the opening bell at the NY Stock Exchange. The post UWM Celebrates National Mortgage Brokers Day at NYSE appeared first on theMReport.com. The post UWM Celebrates National Mortgage Brokers Day at NYSE appeared first on Appraisal Buzz.

Mortgage 370
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North American Title hires Cassidy to lead compliance

Housing Wire

Title insurance veteran Janice Cassidy has been named agency compliance manager at North American Title Insurance Co., a subsidiary of Doma. The company announced this week that Cassidy’s role will include evaluating and monitoring NATIC’s independent policy-issuing agencies, settlement and escrow agents, and approved and supported attorneys for compliance with agency underwriting agreement requirements, company programs, legal and regulatory requirements.

Insurance 393
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Employment Situation in June: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 44 states and the District of Columbia in June compared to the previous month while six states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 850,000 in June, following an upwardly revised increase of 583,000 jobs in May. On a month-over-month basis, employment data was strong in.

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Exposure Time Vs. Marketing Time: Helpful Info for Appraisers

McKissock

Every real estate appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value. Below, we provide a basic overview of exposure time vs. marketing time and sources that can be used to support an opinion of reasonable exposure time.

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Tavant Offering New AI-Powered Lending-as-a-Service Platform

Appraisal Buzz

Digital lending solutions provider Tavant has introduced its new Touchless Lending platform, an AI-powered lending-as-a-service platform that maximizes the use of data-driven processes to provide an end-to-end loan manufacturing experience. Touchless Lending’s first product line is mortgage-centric and designed to address key pain points within the mortgage industry, Tavant says in a release.

Lending 370
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Michael Bright: Thoughts for the next FHFA director

Housing Wire

Now that we have clarity around the structure of the Federal Housing Finance Agency (FHFA), and as the president considers installing a new permanent director, an opportunity arises for the next evolution in housing finance policy. But success for either Acting Director Sandra Thompson — who, by all accounts, will bring a steady hand — and whomever comes next, will rely on steady leadership and a willingness to learn from dynamics of the past.

Finance 404
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Porch vs. Patio: Do Your Clients Know the Difference?

Empire Appraisal Group

Porch vs. Patio: Do Your Clients Know the Difference? Article Source: Porch vs. Patio: Do Your Clients Know the Difference? | Realtor Magazine. The post Porch vs. Patio: Do Your Clients Know the Difference? appeared first on Empire Appraisal Group.

Clients 78
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Is Home Renovation Necessary Before Listing In Hot Markets?

McKissock

When the seller’s market is this hot, is it still necessary to renovate a seller’s home before it hits the market? It’s no secret that most of today’s buyers want a turnkey property they can move right into, but with buyer demand skyrocketing without the inventory to meet the demand, many buyers are ready to take any suitable home they can win a bid on.