Sat.Aug 13, 2022 - Fri.Aug 19, 2022

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HELOCs are now “raging back”

Housing Wire

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing.

Lending 424
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The inventory myth & dipping prices

Sacramento Appraisal Blog

Let’s talk about two things today. The myth of six months of inventory being normal and dipping prices. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 8/25/22 State of Housing Brunch & Learn (sign up (for real estate community)) 9/08/22 SAFE Credit Union Market Update (details TBD) 9/15/22 Market update […].

Inventory 396
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Burn it Down

Appraisal Buzz

The post Burn it Down appeared first on Appraisal Buzz.

Appraisal 370
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Why Data Science?

George Dell

Why not data science? Before we talk about anything, we need to know what ‘it’ is. What is data science? First, what is science? Science is “a systematic study, by observation or experiment; by an expert in scientific method and the field of study.” And what is data? Data is anything which can be measured, […]. The post Why Data Science? appeared first on George Dell, SRA, MAI, ASA, CRE.

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Better.com partners with Palantir on new proprietary loan platform

Housing Wire

Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae , Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.”. Tinman Marketplace, as it has been dubbed, will be powered by Palantir’s Foundry operating system, which Better says will automate 70% of the mortgage process.

Investors 414
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Recipe for Perfect Customer Service

The Appraiser Coach

I’m not the biggest dessert person in the world, but I have a weakness for Arnold Palmers. For those of you unfamiliar with what an Arnold Palmer is, it’s a. Read More.

More Trending

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Building Materials Prices Increase in July as Concrete Surges

Eyes on Housing

The prices of building materials rose 0.4% in July (not seasonally adjusted) even as softwood lumber prices increased 2.3%, according to the latest Producer Price Index (PPI) report. Prices have surged 35.7% since January 2020, although 80% of the increase has occurred since January 2021. The PPI for goods inputs to residential construction, including energy, decreased 1.2% as the prices of.

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UWM turns to seller concessions with new mortgage product launch

Housing Wire

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It’s a complementary product to the wholesale lender’s “Game On” initiative , a cut-rate pricing strategy devised to grow market share with purchase buyers.

Sellers 404
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What is the Triangle in NC?

Raleigh Realty

What is the Triangle in North Carolina? One of the most common questions we receive is 'what is the Triangle in NC?' Below we answer that and a few more common questions: Click here to search for Triangle Real Estate. The Research Triangle area in North Carolina is named after the three prestigious universities of Duke, UNC-Chapel Hill, and North Carolina State University.

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20 Things Every Appraiser Should Keep in Their Car

Appraisal Buzz

What are the essential tools and equipment to bring along when completing an on-site appraisal inspection ? Recently we asked our social media communities on Facebook and Twitter , “What’s ONE thing every property appraiser should always keep in their car?” Of course, the contents of an appraiser’s toolkit (or vehicle) will vary from one appraiser to another.

Appraisal 195
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Single-Family Built-for-Rent Construction Surging

Eyes on Housing

Single-family built-for-rent sector construction surged during the second quarter of 2022 as homebuying affordability declined on higher mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 21,000 single-family built-for-rent (SFBFR) starts during the second quarter of 2022.

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Purchase mortgage rates beginning to stabilize in the low 5% range

Housing Wire

Purchase mortgage rates declined this week on the news that inflation appears to have peaked and appear to be stabilizing. The 30-year fixed-rate mortgage decreased this week to an average of 5.13%, down from last week’s 5.22%, according to the latest purchase mortgage survey from Freddie Mac. A year ago this time, rates averaged 2.86%. The index compiles rates reported by lenders during the past three days. “Inflation appears to be beyond its peak, which has stopped the rapid increa

Mortgage 393
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Why is Location so Important in Real Estate?

Raleigh Realty

Location in Real Estate Location, location, location. Here's what makes location such an important factor when it comes to buying a home. The three most important factors when buying a home are location, location, and location. Too often I hear people talking about making decisions based on the home itself, instead of the location, and that is a mistake.

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Zombie Propertie Count Inches Up

Appraisal Buzz

The ever present “zombie property” now represents one in just 78 units as the Vacant Property and Zombie Foreclosure from ATTOM Data showed that there were 1,277,162 properties sitting vacant across the country during the third quarter of 2022. This number represents 1.3% of the total number of homes. In addition, the report found that … The post Zombie Propertie Count Inches Up appeared first on DSNews.

Appraisal 195
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Existing Home Sales Fall to Two-Year Low

Eyes on Housing

As elevated mortgage rates and higher home prices weighed on housing affordability, existing home sales declined for six consecutive months, according to the National Association of Realtors (NAR). All four regions saw double-digit decline in sales from a year ago. But home price appreciation has slowed as inventory increased. The median existing home prices in July was down $10,000 from.

Inventory 174
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Four-time Inc. 5,000 mortgage company CEO to speak at HW Annual Oct. 4

Housing Wire

Bill Lyons, founder and CEO of Griffin Funding and 2020 HousingWire Vanguard Honoree , sat down with HousingWire to discuss his company’s repeat ranking on the Inc. 5,000 list, along with his upcoming appearance at HW Annual Oct. 3-5. Don’t miss more of Lyon’s great insights when he takes the stage Oct. 4 at the Vanguard Forum , an exclusive event during HW Annual for c-suite leaders.

Mortgage 393
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Racial Targeting Under the Heading of Diversity, Equity & Inclusion

Appraiserblogs

This time around, the racial targeting is masked as a virtue under the heading “Diversity, Equity and Inclusion,” or “DEI.” Valuation Jiu-Jitsu Will Lead to Future Addie Polks Addie Polk was a 91-year-old African-American widow who shot herself in the chest in 2008 during a Fannie Mae-initiated eviction in Akron, Ohio. It marked the low point in Fannie’s embrace of toxic mortgages.

Training 123
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Higher Share of Vacant Homes Sit in Expensive Towns

Appraisal Buzz

A new analysis from a March LendingTree study found more than 16 million vacant housing units in the U.S. This figure may seem steep but becomes more reasonable when you consider how many homes nationwide sit empty while they’re waiting to be rented or sold or their owners are staying in their primary residence. While … The post Higher Share of Vacant Homes Sit in Expensive Towns appeared first on DSNews.

Appraisal 195
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Multifamily Sector Shows Signs of Caution in the Second Quarter

Eyes on Housing

Confidence in the market for new multifamily housing was mixed in the second quarter of 2022, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) decreased 6 points to 42 compared to the previous quarter, dragged down largely by.

Marketing 155
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Blend takes a $478M loss, cuts 25% of its workforce

Housing Wire

Blend Labs executives say they are being conservative in managing the company after recording a massive financial loss in the second quarter of 2022. . The California-based mortgage tech company plans to reduce costs, including cutting 25% of its workforce, and will focus on products with a higher return on investment amid an extreme market downturn.

Business 382
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No End Date for Future Editions of USPAP

Appraiserblogs

Future editions of USPAP will have an effective start date but no end date. Folks, on Thursday August 11, 2022, the ASB/TAF announced the extension of the current USPAP to the end of 2023. Assuming that a ‘new’ USPAP is formally approved in time, the next issue of USPAP will become effective January 1, 2024. But here’s the interesting wrinkle about this, which I admit I missed in their 8/11/22 announcement: “How long is the current version of USPAP effective?

Appraisal 112
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FHFA and Ginnie Mae Update Seller/Servicer Requirements

Appraisal Buzz

New updated minimum financial eligibility requirements for GSE seller/servicers and Ginnie Mae issuers will ensure that the nation’s housing finance system remains safe and sound, and that sustainable mortgage credit remains available for all qualified borrowers. The post FHFA and Ginnie Mae Update Seller/Servicer Requirements appeared first on DSNews.

Sellers 195
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What are Millennial Homebuyers Looking For?

Raleigh Realty

Millennial Homebuyers Millennial homebuyers are on the rise, and for good reason - interest rates are still historically low. With the increase in student loan debt, frequent career shifts, and living through the 2008 housing crisis, many may consider millennials financially insecure and opposed to home ownership. However, research surprisingly points in the opposite direction.

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Wells Fargo to shutter correspondent lending?

Housing Wire

In the face of a declining mortgage market and heightened regulatory scrutiny, Wells Fargo , the country’s largest depository mortgage lender by volume, is planning for a smaller footprint in correspondent lending and third-party servicing business. The depository bank will likely shrink or potentially halt correspondent lending, in which Wells Fargo funds the loan arranged by outsiders, Bloomberg reported , citing unnamed sources.

Lending 370
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Leveraging Technology to Improve Your Campus Communication

GoForrmz

Improve communication across your campus, faculty, and students with new technologies Schools, universities, and colleges have to excel in a variety of areas. They’re expected to know all the ins and outs of not only the subject matter they’re teaching but also the means of passing that information to their students. They need to be experts in connecting with students from all walks of life while remaining impartial to each individual.

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Boom or Bust: What’s Happening in the Market

Appraisal Buzz

Today’s Buzzcast interview is with Ernie Durbin, Chief Valuation Office at Voxtur. We sat down with Ernie and Joan Trice, Founder of Allterra Group, LLC, to discuss his upcoming CE session at Valuation Expo, “ Boom or Bust ” on September 9 th at 8:30 am. Which side are you on regarding if this market is a boom or bust? What can expect to see within the market over the next 3-6 months?

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Pricing a Home In A Softening Market

Birmingham Appraisal

Tips For Pricing a Home In A Shifting Market. Feds Increase Rate. On July 27 the Federal Reserve increased the federal funds rate yet again by.75%, in an attempt to fight inflation. While a higher fed fund rate initially affects how much banks pay to borrow money the rate increase will trickle down and affect the interest rates consumers pay on short-term mortgage loans.

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July: Market Update for Housing Marketers

Housing Wire

July saw whiplash mortgage rates and our audience followed economic news very closely. Articles about rates, housing inventory and inflation were among our most popular, including: Purchase mortgage rates fall same week as Fed rate hike New home sales make it clear, housing is in a recession The nation’s housing market is on a correction course. But we also saw some resiliency, with companies expanding loan products — especially cash out and home equity— and shoring up their mortgage servicing r

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Why Data Collection is Important for Universities

GoForrmz

The role of data in higher education From tech startups to large corporations, data is often touted as one of their most valuable resources. And in many industries, it’s easy to see the benefits of tracking digital information such as purchases, customer behavior, website visits, and more. But the benefits of data capture don’t stop at higher education.

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Millennials Seeking Cost-Efficient ZIP Codes

Appraisal Buzz

One of America’s most historic regions is its newest homebuying hotspot, with New England ZIP codes representing over half of 2022’s top 10 list in the eighth annual Realtor.com Hottest ZIP Codes Report released today. In these ZIP codes, homes sold in just over a week –or 8 days– and received nearly four times more … The post Millennials Seeking Cost-Efficient ZIP Codes appeared first on DSNews.

Appraisal 195
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BREAKING: ASB Announces Additional Extension of Current USPAP

McKissock

On August 11, 2022, the Appraisal Standards Board of The Appraisal Foundation announced that it would be extending the expiration date of the 2020-2021 USPAP publication by an additional year. Instead of expiring on December 31, 2022, the current USPAP will remain in effect until December 31, 2023. The announcement also stated that future editions of USPAP will have beginning effective dates but no expiration dates; this will afford the ASB “greater flexibility to thoroughly examine proposed cha

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Who’s positioned to capitalize on Wells Fargo’s mortgage retreat

Housing Wire

The fate of Wells Fargo & Co. ’s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. Shortly after that story went live, analysts at Keefe, Bruyette & Woods (KBW) published a report stating that if Wells does exit the correspondent lending market, it “would meaningfully reduce the companyR

Mortgage 370
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Support Your College Faculty with GoFormz

GoForrmz

Help your college faculty succeed with digital forms Digital forms can be transformative, regardless of your business type, as it helps operations move quicker and grow smarter. With colleges and universities consisting of various departments and an astronomical amount of student data, there is a multitude of ways GoFormz can support your college faculty.

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BREAKING: ASB Announces Additional Extension of Current USPAP

Appraisal Buzz

On August 11, 2022, the Appraisal Standards Board of The Appraisal Foundation announced that it would be extending the expiration date of the 2020-2021 USPAP publication by an additional year. Instead of expiring on December 31, 2022, the current USPAP will remain in effect until December 31, 2023. The announcement also stated that future editions of USPAP will have beginning effective dates but no expiration dates; this will afford the ASB “greater flexibility to.

Appraisal 195