Housing Wire

FEBRUARY 17, 2022

The average 30-year-fixed rate mortgage climbed to 3.92% for the week ending Feb. 17, up 23 basis points from the previous week. It’s the highest level since May 2019, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.81%. The PMMS report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.

Mortgage 417

Mortgage 417

Appraisal Buzz

FEBRUARY 18, 2022

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for January 2022 shows mortgage applications for new home purchases decreased 12.5% compared from a year ago. Compared to December 2021, applications increased by 10%. This change does not include any adjustment for typical seasonal patterns. “Purchase applications for new homes fell on an annual basis in January, but the 10 percent monthly gain is a positive sign to start the year.

Mortgage 370

Mortgage Appraisal 370

Sacramento Appraisal Blog

FEBRUARY 15, 2022

There are lots of big questions in life. Are you playing Wordle? Did you like the Super Bowl halftime show? And what are rising mortgage rates going to do to the housing market? Let’s talk about this. Okay, really quick. Yes, I play Wordle almost every day. And yes, I liked the halftime show. What […].

Mortgage 321

Mortgage Housing Market Marketing Appraisal 321

George Dell

FEBRUARY 16, 2022

Some form of Universal Valuation Standards (UVS)© appears to be one way to resolve the multiple issues we see today. Our most recent series focused on the obsolescence of the traditional appraisal process. The primary cause of the obsolescence is the shift from subjective onesey-threesy methods of picking comps – to immediate electronic download of […].

Appraisal Process 195

Appraisal Process Valuation Appraisal 195

Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% from the prior month to a seasonally adjusted annual rate of 6.5 million. January sales fell 2.3% from a year earlier, though the median existing-home price rose 15.4% annually to $350,000, according to the Friday report from the National Association of Realtors.

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Supply Chain Inventory Buyers Contracts 407

Appraisal Buzz

FEBRUARY 18, 2022

For the fifth straight month, the South witnessed the highest pace of appreciation, as existing-home sales jumped 9.3% in the region in January. The post Southern Migration Boosting Sales Prices appeared first on DSNews. The post Southern Migration Boosting Sales Prices appeared first on Appraisal Buzz.

Appraisal 367

Appraisal 367

Eyes on Housing

FEBRUARY 15, 2022

The prices of goods used in residential construction ex-energy climbed 3.6% in January (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index was led higher by a 25.4% jump in softwood lumber prices and 9.0% price increases for indoor and outdoor paint. Building materials prices increased 20.3%, year-over-year, and have.

Construction 201

Construction 201

Housing Wire

FEBRUARY 18, 2022

Realogy CEO Ryan Schneider. The record climb in home sales and staggering increase in home price has not necessarily translated into success for the biggest U.S. residential real estate companies. Zillow , Compass , and Redfin each posted nine-figure losses in 2021. However, at least one significant player did capitalize on housing’s banner year. Brokerage and franchise conglomerate Realogy reported its yearly financials Thursday, and the Madison, New Jersey-headquartered company tallied $343 mi

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Brokerage Real Estate Agent Real Estate Agents 395

Appraisal Buzz

FEBRUARY 18, 2022

Households are resorting to non-traditional sources of income to meet financial obligations during the pandemic in a time when many fell behind on their payments. The post Renters Struggling to Stay Afloat appeared first on DSNews. The post Renters Struggling to Stay Afloat appeared first on Appraisal Buzz.

Appraisal 370

Appraisal 370

GoForrmz

FEBRUARY 17, 2022

Revamp your business processes with workflow automation Equipping your team with process automation will improve your productivity and efficiency across your business organization. Manual tasks like scanning and uploading paper documents can be mundane and time-consuming for your staff. One of the most powerful aspects of GoFormz mobile forms is the ability to automate processes like dispatching pre-filled forms to field workers, emailing supervisors completed mobile forms, automatically running

Project Management 146

Project Management Business Tools 146

Eyes on Housing

FEBRUARY 14, 2022

NAHB recently released its 2022 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 87.5 million households (roughly 69 percent of all U.S. households) are not able to afford a new median priced new home in 2022, meaning their incomes are insufficient to qualify for a mortgage under standard underwriting criteria. .

Mortgage 179

Mortgage 179

Housing Wire

FEBRUARY 18, 2022

You can’t please all the people all of the time, but Redfin is a unique real estate brokerage , an instant homebuyer, a popular listings website, a platform for renters, a mortgage company, a title company, a concierge service, and a research service on the U.S. housing market. What does that all add up to? A company that posted a $110 million dollar loss in 2021, a sextuple leap from the $19 million lost in 2020.

Brokerage 395

Brokerage Real Estate Investors Mortgage 395

Appraisal Buzz

FEBRUARY 18, 2022

Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed, according to a new report from Redfin. People buying homes now are paying more than ever before, too – a median $1,997 per month – as asking prices soared 16% year over year to a new high, and mortgage rates shot up to their.

Contracts 284

Contracts Housing Market Marketing Appraisal 284

GoForrmz

FEBRUARY 16, 2022

See why GoFormz is the right mobile forms solution for your data capture needs While there are various reasons GoFormz is the right digital data capture platform for your operation, here are five reasons you should harness the power of GoFormz for your data capture and documentation needs Maintain document formatting GoFormz holds multiple patents on its digitization technology, including a method that preserves the look and feel of your original paper forms.

Training 141

Training Design Technology Business 141

Eyes on Housing

FEBRUARY 17, 2022

The number of single-family built-for-rent (SFBFR) construction starts increased almost 16% in 2021, after a record-breaking third quarter for production. The SFBFR market is a way to add inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when a growing number of people want more space and a single-family structure.

Construction 154

Construction Inventory Marketing 154

Housing Wire

FEBRUARY 18, 2022

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. According to Fannie Mae, “Desktop appraisals are disclosed as “Appraisal” as the property value is obtained through an appraisal that was completed by a licensed or certified appraiser. Further, Fannie notes, “Leveraging the wealth of big data, the power of advanced analytics, and the speed of technology, appraisers can perform des

Appraisal Process 383

Appraisal Process Appraisal Valuation Renovations 383

Appraisal Buzz

FEBRUARY 18, 2022

FormFree ’s AccountChek digital asset verification service is supporting a Freddie Mac solution that allows mortgage lenders to assess a prospective homebuyer’s income using direct deposit data. Available to mortgage lenders nationwide, Freddie Mac’s Loan Product Advisor (LPASM) asset and income modeler (AIM) solution fulfills mortgage verification of assets (VOA) and verification of income (VOI) requirements.

Mortgage 195

Mortgage Appraisal 195

Appraiserblogs

FEBRUARY 17, 2022

Why is the ASB proposing to remove the definition of Personal Inspection? Several days ago, an appraiser posted the following comment which we have decided to publish as a free-standing post because we believe it deserves attention: Amazingly, while these are horrible – everyone seems to miss the real issue that will hit us all in 2023. As of 2023, if the ASB gets its way in a few weeks, the word “inspection” or “personal inspection” will no longer be defined in USPAP.

Inspection 138

Inspection Appraisal Clients 138

Eyes on Housing

FEBRUARY 18, 2022

Despite record-low inventory and higher prices, existing home sales jumped in January as buyers expected further rate increases and locked in current low rates, according to the National Association of Realtors (NAR). However, investors with all-cash offers were squeezing out first-time and young homebuyers. More supply especially at lower-end market is needed in order to improve housing affordability.

Inventory 138

Inventory Realtors Investors Buyers 138

Housing Wire

FEBRUARY 18, 2022

This week’s HW+ member spotlight features John Brenan, vice president of Valuation Policy and chief appraiser at Clear Capital. Brenan has more than four decades of experience in the appraisal industry, previously serving in leadership roles at The Appraisal Foundation and the State of California Bureau of Real Estate Appraisers. At Clear Capital, Brenan oversees the quality of the company’s appraisal and valuation products and implements changes to continually evolve the program. .

Training 383

Training Valuation Appraisal Real Estate 383

Appraisal Buzz

FEBRUARY 17, 2022

Kim Weaver has joined Paradatec Inc. , a provider of AI-based document classification and data extraction technology for mortgage loan processing, as director, product strategy. Weaver has more than 25 years of experience in the financial services industry, with a focus on mortgage and consumer lending. She spent 15 years at Fiserv where she held senior roles in product management, product strategy and client delivery.

Technology 195

Technology Lending Clients Appraisal 195

GoForrmz

FEBRUARY 15, 2022

Improve your organization’s communication barriers with these collaboration tools Collaboration between departments can be a challenge if your organization is not equipped with the necessary tools to be successful. Workflow automation tools such as digital form software and project management tools empower your team to work together. When it comes to team communication, your organization needs digital form software with collaboration features that are easy to use and adaptable.

Business 137

Business Project Management Tools 137

Appraiserblogs

FEBRUARY 14, 2022

Hybrid Appraisals were tested and failed. So what does Fannie Mae do? Let’s call them Desktops with third party inspectors. Fannie Mae has announced they will soon start accepting Desktop Appraisals. The appraiser does not inspect the property; however an interior floor plan including walls is required. This in itself is over and above what most appraisers typically provide.

Inspection 128

Inspection Appraisal 128

Housing Wire

FEBRUARY 18, 2022

The stock price of Doma Holdings was down 29% on Friday afternoon after the title insurance company posted a $43.7 million GAAP loss in the fourth quarter, and a $113 million loss for the full year in 2021. In its earnings report on Thursday, the San Francisco-based firm said it notched $138 million in revenue in the fourth quarter, up 17% year over year, and retained premiums and fees of $66 million, up 24% over the fourth quarter of 2020.

Insurance 383

Insurance Investors Development Technology 383

Appraisal Buzz

FEBRUARY 17, 2022

Lisa Geloso has been promoted to head of product development and customer success CondoTek , a provider of technology and services for condominium and co-op lenders. . Geloso previously served as the company’s director of business development and product operations. Geloso has over 30 years of mortgage industry experience and has held executive positions at Bank of America, Wells Fargo, TD Bank, and some of the leading large mortgage lenders including Freedom Mortgage and Arc Home.

Development 195

Development Technology Business Mortgage 195

GoForrmz

FEBRUARY 14, 2022

Leverage these three GoFormz integrations for powerful data entry automation Digital automation is a critical asset to any business processing data. Pairing your digital forms app with seamless automation tools allows users the ability to extract and collect data in real-time, and garner actionable insights from that data. GoFormz is your one-stop-shop for all things automation, empowering your business to eliminate time-consuming manual daily work while maintaining a high level of quality and a

Construction 130

Construction Business Tools Clients 130

McKissock

FEBRUARY 16, 2022

When you’re selling your home it can be tempting to try and go it alone. Maybe you don’t want to work with a real estate agent to try and save some money, or you just think it won’t make much of a difference. There are a lot of people who do try to sell their homes on their own and when you’re watching the success stories on TV or reading them online it’s easy to think there’s nothing to it.

Real Estate Agent 105

Real Estate Agent Real Estate Agents Buyers 105

Housing Wire

FEBRUARY 16, 2022

HousingWire recently sat down with Steve Meirink, executive vice president and general manager, Compliance Solutions, Wolters Kluwer’s Governance, Risk and Compliance Division, to discuss the impact of digital technology on mortgage and the future of digital lending in an era of accelerated innovation and digital transformation. HousingWire: What are the key factors and trends driving the adoption of digital lending?

Lending 383

Lending Technology Tools Loan Officers 383

Appraisal Buzz

FEBRUARY 17, 2022

CoreLogic reports that 14.5 million homes, or nearly one in every 10 homes, in the U.S. was impacted by natural disasters over the past year. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on DSNews. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Empire Appraisal Group

FEBRUARY 17, 2022

Case-Shiller Price Increases: 2 Fla. Cities Top List. By Kerry Smith. Nationwide, home prices rose 18.8% in Nov., and the S&P CoreLogic Case-Shiller index finds Tampa (up 29%) and Miami (up 26.6%) in 2 of the top 3 spots. NEW YORK – One of the most-watched indicators of home prices, the S&P Dow Jones Indices (S&P DJI), found a slight slowdown in the national rate of home price increases – but less so in Florida.

Realtors 78

Realtors Housing Market Appraisal Mortgage 78

McKissock

FEBRUARY 18, 2022

Are you just getting started as a new appraiser? Or perhaps you’re looking to expand your current client list? According to our most recent Appraisal Income Guide, appraisers who excel at obtaining new clients and soliciting business earn over $47,000 more per year than appraisers who fail in this area. Here are twenty ideas you can use to get your name out there and grow your network as you work to launch, maintain, and grow your appraisal business.

Appraisal 77

Appraisal Clients Advertising Business 77

Housing Wire

FEBRUARY 16, 2022

Mortgage applications decreased 5.4% for the week ending Feb. 11, reflecting what the mortgage market looks like when rates eclipse 4% for the first time since 2019. The Mortgage Bankers Association ‘s seasonally adjusted refi index fell 8.9% from the previous week, bringing its share of total applications to the lowest level in 19 months. Meanwhile, the purchase index dropped a mere 1.2%.

Retail 383

Retail Mortgage Contracts Government 383

Appraisal Buzz

FEBRUARY 17, 2022

CoreLogic reports that 14.5 million homes, or nearly one in every 10 homes, in the U.S. was impacted by natural disasters over the past year. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on DSNews. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on Appraisal Buzz.

Appraisal 195

Appraisal 195

Mashvisor

FEBRUARY 15, 2022

IIf you are planning to invest in vacation rentals, one of the most important factors that you should consider when deciding which areas to invest in is the Airbnb daily…

Investing 69

Investing Investors Real Estate 69