Housing Wire

NOVEMBER 1, 2021

With mortgage rates falling during the COVID-19 crisis, many households were able to refinance to lower payments. Because a mortgage payment is almost always the most prominent payment households make each month, lower payments have allowed homeowners who bought homes to have better cash flow over the last few years. This means mortgage holders who have refinanced their homes to lower payments while their wages have also grown look great on paper.

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Housing Market Sellers Inventory Mortgage 545

Sacramento Appraisal Blog

NOVEMBER 1, 2021

Are buyers struggling to afford the market? Let’s talk about that today. I have some brand new visuals to share (Part I) and then let’s unpack a new study about affording new construction (Part II). What are you seeing in your area regarding affordability? I’d love to hear. PART ONE: Affordability 1) Duh, affordability is […].

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Construction Buyers Marketing Realtors 404

George Dell

NOVEMBER 3, 2021

Modernization means bring in modern methods. What are they? Why aren’t they here? Is it really that hard? We have big financial resources. We have motive. We have huge organizations in place. And we have regulatory clout! Appraisal is just one type of valuation, done by super-regulated, licensed appraisers. Competing valuation products, like AVMs (Automated […].

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Modernization Appraisal Valuation 363

The Appraiser Coach

NOVEMBER 2, 2021

As an appraiser, you’re a real estate professional and you are in the business of valuing property. Inevitably, at some point in your career, you’re going to make another real. Read More.

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Realtors Real Estate Business Appraisal 360

Housing Wire

NOVEMBER 5, 2021

J.P. Morgan , through its private label conduit , J.P. Morgan Mortgage Trust , so far this year has sponsored 13 private-label securitization offerings backed by jumbo loans valued at $13.8 billion. Those offerings, current through the end of October, involved more than 14,000 jumbo mortgages, according to bond-rating agency presale reports. The data show that J.P.

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Marketing Investors Mortgage Housing Market 537

Appraisal Buzz

NOVEMBER 3, 2021

Lender and servicer Guild Mortgage has introduced a new mortgage option designed to make it easier for medical professionals to buy their first home. Under the Guild program, qualified medical professionals, including those who have just graduated from medical school, can qualify for a home loan with up to 100% financing, no required mortgage insurance, and the ability to exclude student debt from their debt-to-income ratio.

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Mortgage Design Insurance Finance 360

Eyes on Housing

NOVEMBER 4, 2021

An earlier post revealed that 66% of buyers who were actively engaged in the process of finding a home in the third quarter of 2021 have spent 3+ months searching for a home without success. For only the third time in this series history, the top reason these long-time searchers haven’t pulled the trigger is not because they can’t find.

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Buyers 180

Housing Wire

NOVEMBER 4, 2021

For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades. To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. “The construction industry needs more than 61,000 new hires every month, if we are to keep up with both industry growth and the loss of workers either thr

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Construction Renovations Training Development 525

Appraisal Buzz

NOVEMBER 5, 2021

The U.S. economy added 531,000 jobs in October – stronger than expectations – and the unemployment rate dropped to 4.6%, according to the U.S. Bureau of Labor Statistics. Industry sectors that saw the strongest job gains in October included leisure and hospitality, professional and business services, manufacturing, and transportation and warehousing.

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Transportation Business Appraisal 195

GoForrmz

NOVEMBER 5, 2021

Instantly route completed forms to your contacts based on input information Processing paper forms results in a variety of time-wasting demands, including the hand delivery of completed forms. Relying on paper forms, teams in the field often need to deliver completed forms to their back-office counterparts before important business processes can take place (e.g. billing, payroll, etc.).

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Transportation Business 156

Eyes on Housing

NOVEMBER 3, 2021

After growing steadily for six straight quarters, and peaking at 61% in the second quarter of 2021, the share of prospective buyers actively trying to find a home to buy declined to 57% in the third quarter. This is an indication that fast-growing home prices have begun to discourage a segment of potential buyers from getting past the planning stage.

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Buyers 154

Housing Wire

NOVEMBER 2, 2021

On Tuesday Zillow announced it will be shutting down its Offers business, which wasn’t too much of a shock considering how their stock had been performing for some time. The news was that they had been overpaying for homes and their losses on those purchases were getting larger and larger. Life being a publicly traded company can be fantastic or brutal at times.

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Business Housing Market Marketing 505

Appraisal Buzz

NOVEMBER 5, 2021

LendingHome Funding Corp. , a lender to real estate investors, has closed a $388 million revolving securitization of unrated residential transition loans. This is the seventh broadly syndicated securitization transaction sponsored by LendingHome since 2019. The deal includes a two-year revolving period during which principal payoffs can be reinvested in newly originated loans.

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Mortgage Real Estate Investors Appraisal 195

GoForrmz

NOVEMBER 4, 2021

Streamline commercial cleaning processes and improve customer service with these powerful digital forms for janitorial services Janitorial and commercial cleaning services can benefit from leveraging digital forms to improve inefficiencies, cut down on service time, and improve the experience for their customers. With the help of GoFormz, janitorial services teams are taking traditional paperwork and transforming them into digital forms that are accessible for employees in the field via mobile d

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Inspection Human Resources Inventory Clients 147

Valuation Review

NOVEMBER 3, 2021

Dustin Harris' (“The Appraiser Coach”) blog post, “Knowing Your Why is the Key to Success,” is highlighted for this month’s Valuation Review installment. Harris shares his thoughts with regards to reminding appraisers how important that word “why” will be to them. Read on for more helpful tips.

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Valuation Review Appraisal Valuation 145

Housing Wire

NOVEMBER 3, 2021

Zillow CEO Rich Barton. “Look, similar to other technology companies that have gone before us, we strongly believe in taking big swings and failing fast. We have learned from our experience in Zillow Offers in Q3 and are applying those learnings as we look ahead.”. Those were Zillow CEO Rich Barton’s closing remarks on Tuesday’s earnings call, after the CEO shockingly announced the wind down of the Zillow Offers iBuying program, plus a pending lay off of 2,000 employees.

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Technology Real Estate Development Business 462

Appraisal Buzz

NOVEMBER 5, 2021

When processor bias is present, it can create inefficiencies that trickle down to the production team, slowing down closings and hampering business. MReport delves into six measures to take in order to avoid this issue. The post Six Strategies to Eliminate Processor Bias appeared first on theMReport.com. The post Six Strategies to Eliminate Processor Bias appeared first on Appraisal Buzz.

Business 195

Business Appraisal 195

Eyes on Housing

NOVEMBER 5, 2021

Job gains picked up in October after two consecutive months of a slowdown. Total payroll employment rose by 531,000 and the unemployment rate dropped to 4.6% in October. Construction industry employment (both residential and non-residential) totaled 7.5 million, with 44,000 construction jobs added in October. Both residential construction (+10,900) and non-residential construction (+33,000) had job gains for the month.

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Construction 145

Raleigh Realty

OCTOBER 30, 2021

Backyard Astronomy Astronomy can be defined as the oldest natural study and science of space and the physical universe. Dating back 5,000 years ago to early humans during the civilization of the Babylonians in Mesopotamia, was the first occurrence and documented record of astronomical observations. Transcending culture, language, religion, and even time itself, the practice of Astronomy is a continuous tradition that has intrigued humans to question the mysteries of the universe.

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Design Decorating Tools Modernization 139

Housing Wire

NOVEMBER 3, 2021

It’s official. The Federal Reserve announced Wednesday that it will soon begin to taper its monthly asset purchases. The central bank’s Federal Open Markets Committee said Wednesday that thanks to “substantial further progress” the economy has made, it will reduce the pace of its $120 billion in monthly purchases by $10 billion for Treasury securities and $5 billion for agency mortgage-backed securities.

Mortgage 446

Mortgage Inventory Finance Marketing 446

Appraisal Buzz

NOVEMBER 5, 2021

New Residential bolsters its Board of Directors with the addition of Columbia University’s Associate General Counsel, who brings extensive knowledge of government and corporate governance to the firm. The post Patrice Le Melle Named to New Residential Investment Board appeared first on theMReport.com. The post Patrice Le Melle Named to New Residential Investment Board appeared first on Appraisal Buzz.

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Investing Government Appraisal 195

Eyes on Housing

NOVEMBER 3, 2021

The Federal Reserve has supported the housing market during the virus crisis, the 2020 recession, and the subsequent, ongoing recovery via asset-backed purchases (among other tools), including $40 billion a month of mortgage-backed security (MBS) purchases. These MBS purchases have held interest rates lower than they otherwise would have been. Beginning in November, the Fed will reduce the monthly volume of.

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Tools Housing Market Mortgage Marketing 142

DW Slater Company

OCTOBER 30, 2021

Fall Pumpkins on Display – Photo by Monstera from Pexels. I would rather sit on a pumpkin and have it all to myself, than be crowded on a velvet cushion. Henry David Thoreau. Fall is absolutely my most favorite season! I love it when the weather cools down and you start to see the changes in the colors of the leaves. The fact that nothing ever stays the same and that seasons come and go, helps us to appreciate them all.

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Housing Market Marketing 133

Housing Wire

NOVEMBER 4, 2021

The average 30-year-fixed rate mortgage dropped to 3.09 % during the week ending Nov. 4, down from 3.14% the week prior , according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.78 %. Most economists believe mortgage rates will climb following as the Federal Reserve tightens monetary policy. The central bank’s Federal Open Markets Committee announced on Wednesday that it will begin to taper its monthly asset purchases starting in Novembe

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Supply Chain Mortgage Marketing 437

Appraisal Buzz

NOVEMBER 5, 2021

The amount of foreclosure volume rose to a new pandemic high last quarter, but according to new research by Auction.com, that number is still 68% below pre-pandemic levels. Using internal data that reaches about 50% of the foreclosure market along with MLS and public data, Auction.com released its fourth quarter Foreclosure Market Forecast which also found that completed foreclosure auctions in Q3 2021 increased 16% … The post Foreclosures Continue to Creep Upwards as Protections End app

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Appraisal Marketing 195

Eyes on Housing

NOVEMBER 2, 2021

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate was flat at 65.4% in the third quarter of 2021. Compared to prior reports, the data was affected less significantly by the pandemic, since in-person interviews were back in 99.5% of the sample. The national homeowner vacancy rate stayed at a record low of 0.9%, while the rental.

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Urban

NOVEMBER 2, 2021

Disparities in homeownership rates and home values limit the ability of households of color to both achieve homeownership and benefit from it.

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Home Value 149

Housing Wire

NOVEMBER 1, 2021

Mortgage lending titan Rocket Mortgage is bringing its tech straight to financial institutions. The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. Rocket is now the first mortgage lender to provide an end-to-end “mortgage-as-a-service” solution through Salesforce’s financial cloud.

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Mortgage Loan Officers Lending Technology 417

Appraisal Buzz

NOVEMBER 5, 2021

Following a quiet week in which only 19,000 homeowners exited forbearance, Black Knight reports that the week ended November 2nd saw 85,000 departures. The typical month-end surge marked the final expiration of many forbearance plans which have a maximum term of 18 months. The largest declines were in FHA and VA plans , 42,000 exited on top of 7,7 00 the previous week.

Appraisal 195

Appraisal 195

Eyes on Housing

NOVEMBER 1, 2021

In the third quarter of 2021, 73% of buyers estimate they can afford less than half the homes available for-sale in their markets. That share is up from 71% the prior quarter, 65% the quarter before that, and 63% in the final quarter of 2020. This steady increase is evidence that double-digit increases in home prices have eroded the positive.

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Buyers Marketing 128

Appraiserblogs

NOVEMBER 2, 2021

Appraisers, I just received notice about the untimely death due to COVID-19 of a Tennessee appraiser, Stephen Forrester, while he and his wife and two young kids were on vacation in the Bahamas. Details are posted below. Please click here, and donate if you can. I just donated to this GoFundMe. If you can’t make a donation, it would be great if you could share the fundraiser via email to appraisers you know, and on social media, to help spread the word.

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Appraisal Real Estate 117

Housing Wire

NOVEMBER 3, 2021

To the surprise of virtually no one, loan officer commissions started to head south in the third quarter, dropping 17% year-over-year, according to SimpleNexus ’ third quarter mortgage loan compensation report. The reason? Yep, you guessed it: waning refi volume. From July to September, monthly refi commission dipped by 37%, whereas monthly purchase loan commission rose by a slight 2%, the report found.

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Loan Officers Mortgage Marketing 407

Appraisal Buzz

NOVEMBER 5, 2021

An upcoming webinar will discuss the issues faced by those assessing risk and insurance obstacles homeowners face in areas prone to earthquakes. The post The Week Ahead: Analyzing Risk in Seismic Zones appeared first on DSNews. The post The Week Ahead: Analyzing Risk in Seismic Zones appeared first on Appraisal Buzz.

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Insurance Appraisal 195

Valuation Review

NOVEMBER 3, 2021

Asking prices of homes increased to an all-time high of 12 percent, according to a Redfin report. However, pending sales were up just 4 percent, the smallest year-over-year increase since June 2020.

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