Housing Wire
SEPTEMBER 13, 2022
The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we hadn’t had a period where mortgage rates moved up so quickly and then held higher for an extended period.
Sacramento Appraisal Blog
SEPTEMBER 14, 2022
Sellers have been chasing the ball down the road. What I mean is prices have been going down lately, and sellers are trying to find the market through price reductions. I can’t speak for the entire country, but I’d like to talk about what’s happening locally. I’m not writing as a housing bull or bear […].
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Appraisal Buzz
SEPTEMBER 16, 2022
The Senate Banking Committee will be hosting a hearing taking a closer look at the USDA’s loan guarantees to purchase homes in rural areas, through a discussion with stakeholders in the USDA’s housing services. The post The Week Ahead: Senate to Examine the State of Rural Housing appeared first on theMReport.com. The post The Week Ahead: Senate to Examine the State of Rural Housing appeared first on Appraisal Buzz.
George Dell
SEPTEMBER 14, 2022
What’s missing? Appraisal reform is focused on current ‘urgent’ issues. The problem is that some fundamental, underlying issues are not in focus! The concern is that it’s the underlying foundation that may be the core of the problem. Current (urgent) issues include: Bias: real and perceived Wide range of opinions of value Appraiser diversity: age […].
Housing Wire
SEPTEMBER 16, 2022
The U.S. House of Representatives this week passed a bill that streamlines the appraisal process for U.S. Department of Veterans Affairs mortgage loans. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether.
Cleveland Appraisal Blog
SEPTEMBER 10, 2022
Hello everyone! This week I welcome guest blogger Andrea Gibbs. In this article, she offers some tips on how to transition a loved one to senior living. I hope you find her tips to be helpful! Turning retirement from a dream into reality is not an easy feat for seniors. Many transitions and adjustments will take place, including moving away from family and friends, coping with new routines, and learning to manage the daily activities of life.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
The Appraiser Coach
SEPTEMBER 13, 2022
A little over a year ago, I went on a vacation with my family to Glacier National Park. While we were there, we took everyone on a hike to St. Read More.
Housing Wire
SEPTEMBER 16, 2022
Wells Fargo will pay $94 million to settle a class-action lawsuit that argued it sent more than 200,000 mortgage borrowers into forbearance during the pandemic unlawfully and without their consent. The plaintiffs argued that the San Francisco-based bank provided forbearances to customers who made inquiries about their mortgages or expressed hardship, but had not explicitly requested forbearance, Reuters reported this week.
Eyes on Housing
SEPTEMBER 12, 2022
The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers.
Appraisal Buzz
SEPTEMBER 16, 2022
House measure seeks to level the playing field for U.S. veterans in pursuit of homeownership through adoption of a modern, digital appraisal process for VA loans. The post House Passes Bill to Modernize VA Loan Appraisals appeared first on theMReport.com. The post House Passes Bill to Modernize VA Loan Appraisals appeared first on Appraisal Buzz.
GoForrmz
SEPTEMBER 16, 2022
GoFormz customers share their insights and success stories Teams across the globe and every industry rely on GoFormz. From small flower shops to massive construction firms, our platform is known for its intuitive interface, powerful capabilities, and incredible customer support – allowing businesses of any size and sector to digitize and optimize the way they work.
Housing Wire
SEPTEMBER 10, 2022
Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP, called “closing the gap,” permits a 1% down payment with a free appraisal, free home warranty program, free homebuying counseling and financial assistance with closing costs.
Eyes on Housing
SEPTEMBER 15, 2022
The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the past year. The PPI for goods inputs to residential construction, including energy, decreased 0.9% in.
Appraisal Buzz
SEPTEMBER 16, 2022
A new report from LexisNexis Risk Solutions focusing on financial transparency and inclusion has found that among Americans, those most financially at risk are the “unbanked”—or those without a traditional bank account—and that increasing financial inclusion in a responsible and sustainable way can help these people grow financially. LexisNexis worked with Celnet in order to … The post Lack of Transparency Hinders the Unbanked appeared first on DSNews.
The Robert Weiler Company
SEPTEMBER 16, 2022
Summer in the Buckeye State can be a sultry affair. And, surprisingly, one way to beat the heat may involve a unique land protection vehicle known as a conservation easement. From a climate perspective, a green oasis can help cities lessen their urban heat island effect. Let us make the case if the above statement doesn’t make much sense. In cities such as Columbus, Ohio, the heat is often exacerbated by what’s known as the urban heat island effect.
Housing Wire
SEPTEMBER 16, 2022
Looking for a quick and easy way to stay up-to-date on mortgage lending news, trends and technology? Podcasts are a great resource for mortgage professionals to continue learning, with shows covering industry updates, business advice and the experiences of other pros in the mortgage industry. The podcasts below can be found across a variety of platforms, including Apple Podcasts, Google Play, Spotify and YouTube.
Eyes on Housing
SEPTEMBER 12, 2022
Lot values for single-family detached housing starts in 2021 increased across the nation, with the national value and six out of nine Census division values setting new records. U.S. median lot price now stands at $55,000, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data.
Appraisal Buzz
SEPTEMBER 14, 2022
Since the start of the pandemic, homes have been in high demand leading to fierce competition, rapidly depleting inventory, soaring prices, and a swift market pace. Realtor.com recently analyzed its numbers in the fourth annual Best Time to Buy Report, and found the best time to buy a home across the nation is the week … The post Homebuyers Find More Options in Fall appeared first on theMReport.com.
JMV Lending
SEPTEMBER 12, 2022
We have had numerous deals almost die or come close to dying over the years – solely because our appraisers could not find adequate rental comp data. There are several reasons why we often need to support the full market rent in an appraisal, including: The borrowers often need every penny of the rent to […]. The post Provide Rental Comp Data to Appraisers (More Important Than You Realize) appeared first on JVM Lending.
Housing Wire
SEPTEMBER 16, 2022
The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage rose to an average of 6.02% this week ahead of the Federal Reserve ’s much-anticipated interest rate hike next week. Daily mortgage rate calculators are showing 30-year fixed rates at 6.30% and above. A year ago at this time, rates averaged 2.86%. . “Mortgage rates continued to rise alongside hotter-than-expected inflation numbers this week, exceeding six percent for the first time since late 2008,” said Sam Kh
Eyes on Housing
SEPTEMBER 16, 2022
Over the first seven months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 645,877. On a year-over-year (YoY) basis, this is a 5.3% decline over the July 2021 level of 681,949. Year-to-date ending in July, single-family permits declined in all four regions. The South posted a slight decline 3.0% while the Midwest region reported the.
Appraisal Buzz
SEPTEMBER 14, 2022
As economic uncertainty continues amidst market turmoil and talks of recession, Fannie Mae Senior Vice President and Chief Economist Douglas G. Duncan predicts a modest recession, characterized by competing effects of inflation and a strong labor market. Duncan will deliver his 2023 economic outlook at a live event, Wednesday, Oct. 12 from 6 to 8 … The post Fannie Mae Chief to Receive Award for Forecast Accuracy appeared first on DSNews.
Appraiserblogs
SEPTEMBER 13, 2022
To establish grants directly to supervisor appraisers to help cover the training costs for each Trainee… Folks, this article appeared in American Banker on September 7, 2022. In my view, after reading it, the article appears to present a balanced perspective about what appraisers have been experiencing since the FIRREA law was mandated back in 1989.
Housing Wire
SEPTEMBER 10, 2022
NEXA Mortgage, the largest mortgage brokerage in the country, this week cut ties with the Association of Independent Mortgage Experts ( AIME ), claiming the trade group fails to address bullying and lacks proper governance. Mike Kortas, the controversial CEO and co-founder who himself is no stranger to starting online scraps, said other community members, including smaller brokers and AIME’s leaders, have attacked him, his company and loan officers on social media.
Eyes on Housing
SEPTEMBER 16, 2022
Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 9th, total mortgage activity declined 1.2% and the average 30-year fixed-rate mortgage (FRM) rate rose seven basis points to 6.01%. The FRM rate has increased 56 bps over the past month reaching a 14-year high. The Market Composite Index, a measure of mortgage loan application volume, decreased by.
Appraisal Buzz
SEPTEMBER 14, 2022
Today’s Buzzcast interview is with Ed Pinto, Senior Fellow and Director of AEI Housing Center. We sat down with Ed and Joan Trice, Founder of Allterra Group, LLC, to discuss the housing market and the impact on appraisers. What are some tools available that appraisers can use to measure their housing market? What is the monetary punch bowl? These questions and much more will be answered between Ed and Joan as they dive into this subject.
Appraiserblogs
SEPTEMBER 15, 2022
Yet it applied for $270,706 in PPP relief intended to aid small businesses, such as the mom-and-pop appraisal shops coerced at the state level into participating in the foundation’s privately run regulatory regimen… Wearing a scoop-neck black catsuit from her brand’s High Shine Compression line, media personality Khloé Kardashian, whose net worth has been reported at $60 million, turned heads recently at Kendall Jenner’s 818 Tequila launch party in Malibu.
Housing Wire
SEPTEMBER 10, 2022
Freddie Mac is unveiling its ninth credit-risk transfer transaction of the year via its Structured Agency Credit Risk (STACR) program — bringing the total note offerings through its two flagship STACR series programs to $12.2 billion so far in 2022. This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 billion, according to
Eyes on Housing
SEPTEMBER 16, 2022
According to the annual data from the Census Bureau’s Survey of Construction (SOC), the share of new homes started with 5,000 square feet or more of living space stood at 2.90 percent in 2021, up from 2.50 percent in 2020. A total of 33,000 5,000+ square-foot homes were started in 2021, compared to 25,000 in 2020. The increase in number and share.
Appraisal Buzz
SEPTEMBER 13, 2022
Brace has observed in its latest Mortgage Servicing Pulse that changes in Servicing regulations following the Great Recession, coupled with accelerated digital adoption during the Covid pandemic, have engendered a fairer, more transparent and stable mortgage ecosystem. However, the end of foreclosure moratoriums, forbearances and the dual threat of rising inflation and recession risk has … The post Report: Market Downturn Won’t Yield 2008 Market Crash Results appeared first on theMReport.c
Empire Appraisal Group
SEPTEMBER 16, 2022
FSBOs Usually Soar in a Hot Market. Not This Time. Source: [link]. Housing volatility is pushing more sellers to work with real estate pros rather than go it alone. Here’s how to capitalize on higher interest in your real estate services. By: Melissa Dittmann Tracey. The volatile housing market over the last couple of years has driven more consumers toward using real estate professionals rather than attempting to complete a transaction independently.
Housing Wire
SEPTEMBER 16, 2022
Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Dubbed the “Inflation Buster” program, Rocket aims to give borrowers a reprieve to combat high inflation and affordability challenges, the company said in a statement Friday.
Eyes on Housing
SEPTEMBER 13, 2022
Consumer prices eased in August for the second-straight month as declines in energy prices offset increases in food and shelter indexes. Despite this slight improvement, inflation remains above an 8% year-over-year rate for the sixth straight month. The food index recorded its largest annual gain since May 1979 as all six major grocery store food group indexes increased.
Appraisal Buzz
SEPTEMBER 13, 2022
Brace has observed in its latest Mortgage Servicing Pulse that changes in Servicing regulations following the Great Recession, coupled with accelerated digital adoption during the Covid pandemic, have engendered a fairer, more transparent and stable mortgage ecosystem. However, the end of foreclosure moratoriums, forbearances and the dual threat of rising inflation and recession risk has … The post Distressed Homeowners Find Relief in Fintech Services appeared first on DSNews.
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