Sat.Jul 31, 2021 - Fri.Aug 06, 2021

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This is not 2008 all over again for the housing market

Housing Wire

When you hear people say that the current housing market is like 2008 all over again, you may want to remind them of the huge differences between this market and that one. The previous economic expansion, from 2010-2019, wasn’t a housing bubble. Quite the opposite: In that cycle we had the weakest housing recovery ever, even with the lowest mortgage rates during the longest economic expansion ever.

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Just say NO to subjective language in real estate

Sacramento Appraisal Blog

Is it a poor neighborhood? Is it rich? Is the neighborhood desirable or undesirable? Is it family-friendly? Is it crime-ridden? These are words some might use to describe certain neighborhoods, but they’re 100% off limits for appraisers (and probably other real estate professionals). Let’s talk about this. A refresher & false narratives: I hope […].

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Beyond the Transaction

Appraisal Buzz

For many consumers, the mortgage process is boiled down to a transactional experience focused on the lowest rate offers. Taking the longer view may yield a better outcome for borrowers. The post Beyond the Transaction appeared first on theMReport.com. The post Beyond the Transaction appeared first on Appraisal Buzz.

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Modernizing Appraisal: How Do I Prepare?

George Dell

We have heard a lot about “modernizing” the appraisal process, particularly from the GSE’s (Fannie Mae and Freddie Mac). What is clear, is that the path is not clear. The GSEs, pressing for an improved valuation product, are in a difficult situation. On one hand, they are supposed to cooperate. On the other hand, they […]. The post Modernizing Appraisal: How Do I Prepare?

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Delta variant fears send 30-year mortgage rates to 2.77%

Housing Wire

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. According to Sam Khater, chief economist at Freddie Mac, concerns over the COVID-19 Delta variant, along with lower 10-year Treasury yields, have resulted in lower rates.

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Accountability is Key

The Appraiser Coach

Statistically speaking, the overwhelming majority of people have given up on or pushed aside their New Year’s Resolutions by March of any given year. This doesn’t mean that the goals. Read More.

More Trending

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Highest Paid Occupations in Construction in 2020

Eyes on Housing

According to the 2020 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $50,460 and the top 25% make at least $71,000. In comparison, the U.S. median wage is $49,150, while the top quartile (top 25%) makes at least $67,410.

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Figure to merge with mortgage lender Homebridge

Housing Wire

The blockchain revolution may soon be coming to mortgage lending. And it could take the form of a very old-school lender – Homebridge Financial Services. The Mike Cagney-led fintech lender Figure Technologies , most recently valued at $3.2 billion, announced Tuesday afternoon that it intends to merge with Homebridge. “We are bringing together the most robust, powerful and efficient technology ever seen in lending and pairing that with a $25 billion a year loan originator with 150,000 customers w

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Secret HUD Meeting on ‘Appraiser Bias’

Appraiserblogs

The exclusion of the appraisal profession from events looking at valuation bias sends the message – intentional or not – that the input of appraisers is unwanted by those seeking to address issues relating to valuation bias… This was in a news release put out on Aug. 2, 2021 by the American Society of Appraisers which reveals the ‘secrecy’ behind the government’s efforts to attempt to continually help smear real estate appraisers: “RESTON, Va., Aug. 2, 2021 /PRNewswire/ –The Departme

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Rep. Waters Urges Regulatory Prevention of Unnecessary Foreclosures

Appraisal Buzz

Two letters written by the Chair of the House Financial Services Committee Maxine Waters request additional oversight to avoid pandemic related foreclosures. The post Rep. Waters Urges Regulatory Prevention of Unnecessary Foreclosures appeared first on theMReport.com. The post Rep. Waters Urges Regulatory Prevention of Unnecessary Foreclosures appeared first on Appraisal Buzz.

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More Young Workers Join the Construction Labor Force

Eyes on Housing

The latest labor force statistics from the 2019 American Community Survey show that more young people are entering the construction trades. The share of workers under the age of 25 reached 10.8% in the construction industry in 2019, compared to only 9.7% in 2015. Consequently, the median age of construction workforce is 41 in 2019, a year younger than in.

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30-year rate drops below 3% for first time since February

Housing Wire

Mortgage applications fell 1.7% in the week ending July 30, according to the latest report from the Mortgage Bankers Association. That’s despite the 30-year fixed rate falling to its lowest level in roughly six months. It’s an about-face from the prior week, in which applications increased 5.7% on the strength of descending mortgage rates.

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5 Features to Add to Your Digital Food Safety Forms

GoForrmz

Leverage these powerful features to enhance your digital food safety forms and data capture Elevate your processes and enrich your data collection by adding these powerful features to your food safety Form Templates and workflows. Leveraging these features can introduce new opportunities for growth, while streamlining processes and achieving transformative work efficiencies.

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Taking Inventory

Appraisal Buzz

Tian Liu details what does the housing market needs to do to make the American Dream more attainable for all. The post Taking Inventory appeared first on theMReport.com. The post Taking Inventory appeared first on Appraisal Buzz.

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High Prices Are (Again) Most Common Reason Active Buyers Can’t Buy

Eyes on Housing

An earlier post revealed that 66% of buyers who were actively engaged in the process of finding a home in the second quarter of 2021 have spent upwards of 3 months searching for a home without success. For two quarters recently (Q4 2020 and Q1 2021), ‘getting outbid by other offers’ was the most common reason these long-time searchers could.

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Mortgage lenders are loosening standards on jumbos

Housing Wire

Banks moved to ease lending standards for most mortgage loan products during the second quarter, according to a loan officer opinion survey published this week by the Federal Reserve Board. The quarterly survey found that banks loosened their underwriting standards most notably for jumbo products, including qualified mortgages (QM), jumbo mortgages and non-QM jumbo mortgages.

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If Repurposed for Their Intended Use, Guarantee Fees Can Help Advance Racial Equity in Housing

Urban

How the repurposing of guarantee fees can support affordable housing and underserved market priorities.

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Cherry Creek Mortgage Hires Lorie Helms as CTO

Appraisal Buzz

Lorie Helms has joined Cherry Creek Mortgage as chief technology officer. A 20-year mortgage technology veteran, Helms combines mortgage industry business experience with a background in IT management and operations. She has experience in mortgage loan origination, due diligence, servicing, and collateral management. Prior to joining Cherry Creek, Helms was chief information officer at Covius (formerly LenderLive), where she managed the firm’s IT infrastructure, proprietary software development,

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Housing Affordability Plunges on Soaring Material Costs, Rising Home Prices

Eyes on Housing

Soaring building material costs, high demand and low inventory have added tens of thousands of dollars to the price of a new home and caused housing affordability to fall to its lowest level in nearly a decade during the second quarter of 2021. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), 56.6 percent of.

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Fintech firm CredEvolv wants to revamp credit counseling

Housing Wire

Instead of waiting for credit standards for agency-backed mortgages to relax, two industry veterans are launching a startup to help credit-impaired borrowers rise to meet them. Jeff Walker and Steve Romano founded CredEvolv , a startup that facilitates credit counseling in order to transform borrowers that were declined credit into mortgage-ready leads for lenders.

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4 Ways to Accelerate New Client Intake with Online Forms

GoForrmz

Streamline and simplify client intake with online forms and digital data capture Online forms eliminate common obstacles within client intake processes. Many businesses still rely on paper forms, cumbersome spreadsheets, and rigid applications to collect new client information, resulting in delayed processing, missing information, and miscommunication.

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The Way Back: A Return to In-Office Work

Appraisal Buzz

Industry leaders have ramped up technology and learned the true meaning of flexibility—now they must determine which innovations are here to stay and how to integrate them. The post The Way Back: A Return to In-Office Work appeared first on DSNews. The post The Way Back: A Return to In-Office Work appeared first on Appraisal Buzz.

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Job Gains Accelerate in July

Eyes on Housing

In July, U.S. job growth experienced a solid gain. Total payroll employment rose by 943,000 and the unemployment rate dropped sharply to 5.4%. The July data shows additional growth momentum at the beginning of the second half of the year. In the coming months, the surge of the Delta variant could affect the labor market as Covid-19 restrictions tighten to.

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More households paid their rent and mortgage in Q2 2021

Housing Wire

Fewer than five million households failed to make their rent or mortgage payments in the second quarter of 2021, despite the effects of the COVID-19 pandemic still being felt across the country. According to the Mortgage Bankers Association’s Research Institute for Housing America (RIHA), 8.6% of renters (2.86 million households) missed, delayed, or made a reduced payment in June 2021, while 4.6% homeowners (2.19 million) missed their mortgage payment.

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How to Become an Appraiser in 3 Steps

McKissock

To become a licensed appraiser , most states require you to start out as an appraisal trainee and obtain a certain number of hours of experience before you can appraise real property on your own. Many states have different titles for trainees, such as apprentice appraiser or registered appraiser. Some states require you to earn a college degree , but some don’t.

Appraisal 101
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Mortgage Applications Pull Back; Rates Move up From Lows

Appraisal Buzz

Despite newly lower interest rates, mortgage applications were lower during the week ended July 30. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, was 1.7 percent lower on a seasonally adjusted basis than the previous week and was down 2 percent on an unadjusted basis. The Refinance Index was also lower, declining by 2 percent from the previous week and was 3 percent lower than the.

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Easing Credit Conditions in the Second Quarter

Eyes on Housing

The latest results of the Federal Reserve’s Board’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), showed that the market for commercial real estate financing (CRE loans) and residential real estate (RRE) financing eased compared to the first quarter. While the demand-side market participants for CRE loans are businesses, those of RRE loans are households.

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Are homebuilders burning bridges with real estate agents?

Housing Wire

Alanna Strei of eXp Realty in San Diego and Cornerstone Communities’ new San Diego townhouses. Real estate agent Alanna Strei’s client wanted to check out “Tesoro Vista Del Sur,” 134 newly built townhouses in the Ocean View Hills area of San Diego. The three-story abodes were part of an array of newly built properties that homebuilders are creating across Southern California.

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Building Your Appraisal Team: Advice from Top Appraisers

McKissock

Building a successful appraisal team means considering your business strategy and your corporate culture, and hiring accordingly. Some appraisers look for associates who specialize in certain areas of the appraisal business when adding someone to the team. Others prefer generalists, who can fill in wherever they’re needed. Some prefer to hire experienced appraisers, while others like to “grow their own.”.

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The Future of Fannie Mae and Freddie Mac

Appraisal Buzz

[link]. In today’s Buzzcast, we dive into the future of the GSEs and their impact on the appraisal and valuation industry. Today we have Thomas Wade, Director of Financial Services and Housing Policy at The American Action Forum, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop on what’s happening now and what changes are coming that will impact us all.

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Holy High Appraisal Fees, Batman! Please Warn Clients!

JMV Lending

Economist Milton Friedman famously said, “Inflation is always and everywhere a monetary phenomenon.” (meaning that it is always caused by increases in the supply of money) But, when it comes to appraisals Milton might be … wrong,** as hard as it is for me to type that. 😊 Appraisal fees have risen from as low […]. The post Holy High Appraisal Fees, Batman!

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First American fined $1 million for illegal perks to agents

Housing Wire

First American Title Co. will pay a $1 million fine for improper benefits given to California real estate agents. The company, one of the “Big Four” title insurers, agreed to pay a $1.185 million penalty after California state regulators alleged that a marketing representative provided agents illegal perks such as video marketing and drone footage of listings with placement on social media sites, and bus caravans to promote listings.

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Retirement Planning Tips for Self-Employed Real Estate Agents

McKissock

Saving for retirement is an important step for any professional. This ensures you can live comfortably after you retire. Many experts recommend professionals start saving at least 15% of their pre-tax salary for retirement. However, without an employer-sponsored 401(k), this can be more challenging. Self-employed real estate agents need to consider their financial options without the direction of a company to provide a 401(k) and contribution match.

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Seven Skills Needed to Move into Operations Leadership

Appraisal Buzz

BLOG VIEW: Loan processors, funders, closers, and other mortgage professionals who want to move into leadership often believe the skills that make them successful in operations will enable them to take the next step up. But to become a successful leader, they will also need additional interpersonal skills. Here are the seven soft skills great leaders cultivate as they move up the career ladder in operations: 1.

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