Sat.Apr 02, 2022 - Fri.Apr 08, 2022

What Metaverse real estate means for mortgage professionals

Housing Wire

The Metaverse is defined as the simulated digital world that mimics the real world through virtual reality and augmented reality in which users can interact. As the Metaverse expands, its offerings now include “virtual” real estate.

Housing Finance, Technology, and the Future of the Appraisal Industry

Appraisal Buzz

Today’s Buzzcast interview is with Dave Stevens, CEO of Mountain Lake Consulting and Luke Tomaszewski, CEO of Proxy Pics.

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Bias: Blame the Messenger?

George Dell

The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic.

Scott Peterson’s house & raging price growth

Sacramento Appraisal Blog

I have two things on my mind today. Scott Peterson’s house hit the market. And price growth has been raging so far in 2022. Let’s talk about this. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm.

FHA unveils 40-year loan modification option

Housing Wire

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input.

Refi Volume Falls to Three-Year Low

Appraisal Buzz

With mortgage rates jumping for four consecutive weeks, overall mortgage application volume continues to suffer, dropping 6.3% over the previous week. The post Refi Volume Falls to Three-Year Low appeared first on theMReport.com.

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Highest Paid Occupations in Construction in 2021

Eyes on Housing

According to the latest May 2021 Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,070 and the top 25% make at least $75,820.

Home inventory uptick expected within 6 months

Housing Wire

Nearly 65% of homeowners planning to sell this year expect to list by the end of summer, which should provide a much-needed influx of inventory that should slow the explosive home price growth seen during the pandemic, according to a Realtor.com survey of prospective sellers.

FHA Seeks Feedback on Proposal for 40-Year Loan Mod Option for Borrowers in Forbearance

Appraisal Buzz

The Federal Housing Administration is seeking feedback on a proposal that would enable lenders to lengthen the loan term for FHA-backed mortgages in COVID-19-related forbearance plans to 40 years.

ANSI requirements not an ‘April Fool’s’ matter

Valuation Review

On April 1, Fannie Mae’s requirement took effect regarding appraisers using the Square Footage-Method for Calculating: ANSI Z765-2021 (American National Standards Institute) for measuring, calculating, and reporting gross living area (GLA) and non-GLA areas of subject properties for appraisals requiring interior and exterior inspections.

Residential Construction Spending Trends Upward in February

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% in February after an increase of 1.1% in January. Spending stood at a seasonally adjusted annual rate of $850.6 billion. Total private residential construction spending was 16.6%

Massive home price appreciation set to slow as sellers return

Housing Wire

Home price appreciation in February climbed 20% over the previous year, marking the 12th month of consecutive double-digit gains , according to figures released Tuesday by real estate analytics firm CoreLogic.

The Impact of Inflation on Housing Prices

Appraisal Buzz

The topic of inflation has dominated the news cycle lately. Let’s put aside for the moment the causes of the steadily increasing rate of inflation, and instead take a closer look at what impact it has on housing prices.

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NAR releases statement on White House plan addressing appraisal bias

Valuation Review

The National Association of Realtors (NAR) has officially responded to an appraisal matter that came out of Washington recently. NAR President Leslie Rouda Smith issued a statement after the White House Domestic Policy Council and the Department of Housing and Urban Development released its plan to address appraisal bias and the home appraisal process

Mortgage Rates Reach 3-Year High

Eyes on Housing

In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, underwent a series of weekly declines, decreasing in the latest week by 6.3 percent. The latest week’s survey is for the week ending April 1.

Movement Mortgage lays off 170 employees

Housing Wire

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. .

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Upward Drive in Mortgage Rates Continues to Soften Purchase Activity

Appraisal Buzz

Mortgage rates rose once again this week, creeping closer to the 4.75% mark, rapidly closing the door on affordability for many. The post Upward Drive in Mortgage Rates Continues to Soften Purchase Activity appeared first on theMReport.com.

[Webinar] Getting Started With GoFormz

GoForrmz

Learn to navigate the GoFormz platform, create your first Template, fill out your first digital form, share forms, and more!

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Rural Markets’ Home Building Market Shares in 2021

Eyes on Housing

In the fourth quarter of 2021, the market shares of single-family and multifamily home building in rural submarkets, as identified by NAHB’s Home Building Geography Index (HBGI), increased from the fourth quarter of 2020.

Now is basically the worst time ever to buy a house

Housing Wire

It’s a depressing combination. A stunning rise in mortgage rates, historically low levels of inventory , and skyrocketing housing prices are fueling consumer pessimism.

March Figures Show Mortgage Credit Availability Decrease of 0.7 Percent

Appraisal Buzz

Mortgage credit availability decreased in March according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology. The MCAI fell by 0.7% to 125.1 in March.

A Homebuyer’s Guide to the Appraisal Gap: Why It Happens and What To Do

Realtor

Getty Images If you’re thinking of buying a home in today’s market, you need to be prepared for the possibility of an appraisal gap. So what is an appraisal gap? An appraisal gap is when a home’s appraised value is lower than the purchase price the buyer has offered to pay.

Residential Building Worker Wages Continue to Rise

Eyes on Housing

Compared to a year ago, average hourly earnings for residential building workers continue to rise, as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $28.66

Mortgage applications fall amid low inventory, rising rates

Housing Wire

Interest in residential mortgage loans fell 6.25% for the week ending April 1 as rates jumped yet again , ever nearer to 5%, according to the Mortgage Bankers Association ‘s latest survey.

Deephaven Mortgage Adds Anthony Gulotta as Regional VP of Wholesale Sales

Appraisal Buzz

Non-QM/non-agency lender adds 30-year industry vet to build wholesale partnerships along the East Coast. The post Deephaven Mortgage Adds Anthony Gulotta as Regional VP of Wholesale Sales appeared first on theMReport.com.

‘Zillow Offers’ Lost $881M in 2021 Shutdown

Empire Appraisal Group

‘Zillow Offers’ Lost $881M in 2021 Shutdown. Report: Zillow Group said on Feb. 10 that it lost $528M in 2021, primarily because its iBuyer division, Zillow Offers, shut down with an $881M loss. NEW YORK – On Feb.

Fannie Mae: Inflation, Russia-Ukraine conflict to take toll on housing sector

Valuation Review

The Russian invasion of Ukraine, and its implications for the global economy, has added to growing inflation pressures and ongoing supply chain difficulties as monetary policy tightening begins, according to the March 2022 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group.

Black Knight is exploring a sale: report

Housing Wire

Top mortgage lending software and analytics provider Black Knight is exploring a sale following takeover interest from several private equity firms, according to a report from Bloomberg.

Thank Goodness for Mortgage Insurance

Appraisal Buzz

With affordability and inventory challenges rampant, Marshall Gayden of Radian Guaranty discusses why mortgage insurance can be the key to helping more buyers afford a home. The post Thank Goodness for Mortgage Insurance appeared first on theMReport.com.

Did Housing Inventory in Atlanta Increase in the 1st Qtr of 2022?

Hank Miller Team

April breaks over Georgia and the pencil necked geeks hike up their socks and tape up their glasses. It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022?

Appraisal modernization paints a brighter future

Valuation Review

Valuation Review caught up with CubiCasa President Jeff Allen to discuss appraiser options a modern industry can bring. Desktop appraisals, amongst other technology, will surely provide a promising future as the profession moves forward. Read on for more of our conversation with Allen

Better.com to employees: Please quit

Housing Wire

Better.com CEO Vishal Garg. After becoming the poster child for callous mass layoffs, mortgage originator Better.com has adopted a new approach to reducing its workforce: the company is now asking staff if they want to leave voluntarily with benefits.

Mortgage Builder Unveils New Identity as Constellation Mortgage Solutions

Appraisal Buzz

Mortgage Builder (MB), a leading provider of mortgage loan origination and servicing software, has announced that it has rebranded as Constellation Mortgage Solutions, Inc. CMS), introducing an all new identity that aligns with its vision of the future.

Users Guide for Powering Your Home With Solar Energy

Will Springer Realtor

Have you noticed your electric bills are going up and up? No matter what we do to combat rising energy costs, keeping warm in winter and cool in summer gets more expensive every year. That’s why some of our neighbors are “going solar” in a move that could pay dividends down the road.