Sat.Nov 20, 2021 - Fri.Nov 26, 2021

Will Omicron variant stop first Fed rate hike?

Housing Wire

Life comes at you fast. During this Thanksgiving week, we went from higher yields and the first Fed rate hike storyline to a big drop in bond yields and scary headlines on a new COVID variant, Omicron. How do we make sense of all this?

Retail 419

How Appraisers are Handling Market Value

Appraisal Buzz

In today’s Buzzcast, we dive into the hot button issue of how appraisers are handling this market. Today we have George Dell, Owner of Valuemetrics, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while they discuss what’s being done.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

What Happened to Zillow?

George Dell

Zillow Zestimate has been the go-to source for consumers to check what their house is worth for many years now. Zillow leverages the traffic that this brings to their web site to sell other real estate services (not valuation products!).

Never Sacrifice Quality in the Name of Efficiency

The Appraiser Coach

There are no magic beans or secret sauce that you can use to suddenly make your life better. It’s actually about little tweaks; it’s a bunch of little things that. Read More.

Existing home sales now outperforming

Housing Wire

The National Association of Realtors ‘ existing home sales report for October came in at a solid beat of estimates at 6.34 million. This number is above my trend sales peak of 6.2 million and that means we have had back-to-back existing home sales prints of over 6.2 million.

Fairway Independent Mortgage Names Two to Executive Team

Appraisal Buzz

In a move to strengthen its compliance management, Fairway Independent Mortgage adds new EVP of Fair Lending and EVP of Business Development. The post Fairway Independent Mortgage Names Two to Executive Team appeared first on theMReport.com.

More Trending

Are Floor Plans in Your Future?

Appraiserblogs

A floor plan is supposed to be included in Desktop & Hybrid reports. How will that be done? Appraisers, I’ve recently been studying a ‘word change’ in various GSE documents.

Why are builders happy despite new homes sales miss?

Housing Wire

Today the Census Bureau new home sales report came in as a miss of estimates at 745,000. In addition, revisions were all negative and the monthly supply of new homes rose.

Rates Move Swiftly Lower Due to New Covid Variant; Delinquencies Remain Elevated

Appraisal Buzz

Just when it looked like the current week would fizzle out on a negative note for rates, our least favorite market mover is back in the news. B.1.1.529 (designated now as “Omicron”), a new covid variant hit the market like a ton of bricks on Friday morning.

Design 195

Single-Family Home Size Continues to Trend Higher

Eyes on Housing

An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Recent data confirms this impact on the market continues to occur.

Design 161

Zillow quits iBuying, will lay off 25% of staff

Empire Appraisal Group

Zillow CEO Rich Barton (Credit: Barton by Steve Jennings/Getty Images for TechCrunch; iStock). Source: Zillow Quits iBuying, Will Lay Off 25% of Staff – The Real Deal. Zillow is leaving the home-flipping business for good and preparing to lay off a quarter of its workforce.

Mortgage rates remain stuck at 3.10%

Housing Wire

Mortgage rates remained at 3.10% in the week ending Nov. 24, according to the latest Freddie Mac PMMS mortgage report. A year ago at this time, the average 30-year fixed-rate loan averaged just 2.72%.

What’s New in Appraisal Membership: November 2021

Appraisal Buzz

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources.

Multifamily Condo Production Showing Gains?

Eyes on Housing

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts declined to 93.4% during the third quarter of 2021. This is the lowest share since the first quarter of 2020.

Trainees need diversification, industry veteran says

Valuation Review

Valuation Review concludes its conversation with Appraisal Institute Government/External Relations Director Bill Garber, who expands upon the subject matter of appraiser trainees moving forward. Garber also discussed the key roles regulatory agencies will play within the appraisal arena.

Mortgage apps rise despite higher interest rates

Housing Wire

Mortgage applications increased 1.8% for the week ending Nov. 19, despite higher rates, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. The increase was mainly driven by the purchase index growing by 4.7% from the previous week, on a seasonally adjusted basis.

Mortgage Applications Increased Last Week Despite Rising Rates

Appraisal Buzz

Mortgage application volume increased 1.8% on an adjusted basis during the week ended November 24, despite a slight increase in mortgage rates, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. On an unadjusted basis, the Index increased 0.1%

House History & Genealogy: Cultivating a Sense of Place through Genealogy, Home History, & Neighborhood Research

Raleigh Realty

House History and Genealogy The Importance of Teaching Our Children History When children learn about their family history, they not only develop high self-esteem and a feeling of worth, but they are able to better handle stress.

Surviving adverse times allows appraisers to give thanks, again

Valuation Review

As is the Thanksgiving holiday tradition at Valuation Review, we reached out to appraisers, and others asking them what they are thankful for this year. There were times of despair, for sure, with the COVID-19 and the delta variant cloud hovering over many businesses.

How to help homeowners make the most of home equity

Housing Wire

As home equity reached another record high this year, mortgage companies have a big opportunity to help homeowners understand how to better manage or leverage their home’s equity to improve their housing and overall financial outlook.

Average Rent and Mortgage Payments Rise

Appraisal Buzz

As the economy continues to see consumer prices for everything rise across the board, rent and mortgage rates have also increased with some cities seeing a 30% increase in rent prices since last year.

GTA home sales accelerating amid depleting inventory

Mortgagebroker News

Benchmark prices are nearing all-time highs, industry groups say

SitusAMC adds employees

Valuation Review

SitusAMC has hired more than 1,500 employees to boost support capacity for both originations and secondary market due diligence. The expansion is expected to expedite the flow of loans into private-label securitizations

Opinion: Pass the Neighborhood Homes Investment Act

Housing Wire

A shortage of affordable starter homes is thwarting aspiring first-time homebuyers and fueling inflation in home prices. At the same time, many urban and rural communities are struggling for stability and vitality.

How High Can Rent Go?

Appraisal Buzz

As the economy continues to see consumer prices for everything rise across the board, rent and mortgage rates have also increased with some cities seeing a 30% increase in rent prices since last year.

Demand for better housing greater among immigrants – StatCan

Mortgagebroker News

In the longer term, immigrants also tend to carry more housing debt and other financial burdens, body says

58

Stoiclane acquires AMC

Valuation Review

StoicLane, a long-term growth platform making controlling and strategic minority investments in the finance, insurance and real estate, recently closed on a majority stake in appraisal management company Lender’s Valuation Services (LVS). StoicLane and LVS intend to work together to drive innovation and growth in the appraisal industry

Stewart Title shows no signs of slowing down expansion

Housing Wire

Stewart Title has acquired Las Cruces Abstract and Title according to an announcement made Friday. Founded in 1926, Las Cruces Abstract and Title serves Dona Ana, Hidalgo and Luna Counties in southern New Mexico.

Fraud Risk Down Due to More Refinance Volume

Appraisal Buzz

The CoreLogic Quarterly Mortgage Fraud Brief is a quarterly report that analyzes the top metropolitan areas with the highest mortgage fraud risk based on the company’s research of trends found in residential mortgage loan applications processed through its LoanSafe Fraud Manager.

What do leadership changes mean for Lendesk?

Mortgagebroker News

The company is setting its sights on ambitious growth in the coming years

58

Reggora platform selected to modernize appraisal operations

Valuation Review

Reggora, an appraisal software company, announced Guaranteed Rate has selected its appraisal management technology to support the production of all loans requiring an appraisal. Proper Rate, a Guaranteed Rate Joint Venture, will implement Reggora’s software to streamline its appraisal process

HW+ Member Spotlight: Bill Lowman

Housing Wire

This week’s HW+ member spotlight features American Pacific Mortgage CEO Bill Lowman. Joining the company in 2002, American Pacific Mortgage named him president in 2004, and in 2016 he became CEO.

FinTech Lenders May be Key to Solving Discrimination

Appraisal Buzz

Case Western Reserve University and the American Enterprise Institute (AEI) has released a new report that has found that the digitization of mortgages and the rise FinTech lenders may be just what the industry needs to eliminate discrimination in lending.

HomeEquity Bank on reverse mortgage pros and cons

Mortgagebroker News

The product type comes with unique advantages and drawbacks