Sat.Sep 10, 2022 - Fri.Sep 16, 2022

Are we seeing a mortgage rate lockdown?

Housing Wire

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.

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Chasing the ball down the road in real estate

Sacramento Appraisal Blog

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.

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The Week Ahead: House Committee to Examine the Impact of Wildfire

Appraisal Buzz

An upcoming House Financial Services Committee hearing will discuss climate change’s impact on the nation, as wildfires burned an average of 6.8 million acres annually, putting homeowners in at-risk areas in jeopardy.

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Appraisal Reform: What’s Missing?

George Dell

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.

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House passes bill to modernize VA appraisals

Housing Wire

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.

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Take the Plunge!

The Appraiser Coach

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.

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More Trending

More Women Working in Construction in 2021

Eyes on Housing

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.

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Wells Fargo to pay $94M to settle mortgage forbearance suit

Housing Wire

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.

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Conservation Easements Pros and Cons: Keep Ohio Cool and Green

The Robert Weiler Company

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.

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Fannie Mae Onboards New Chief Risk Officer

Appraisal Buzz

Fannie Mae has announced it has appointed Anthony Moon as Executive Vice President and Chief Risk Officer (CRO), effective starting in the fourth quarter 2022.

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Gypsum Products, Transformers, and Concrete Prices Post Historic 12-Month Increases

Eyes on Housing

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.

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21 podcasts mortgage professionals should be learning from

Housing Wire

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.

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Residential Real Estate Appraisals and Racial Bias

Advanced Appraisal

By: Ernie J Ramos IFA, ASA

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Higher Interest Rates Spell Disaster for Racial Housing Gaps

Appraisal Buzz

According to Urban Institute authors Michael Neal and Daniel Pang, the current environment of rising interest rates has important implications for the wealth gap between white and Black or Hispanic households.

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Lot Values Set New Records

Eyes on Housing

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.

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Mortgage rates rise ahead of expected Fed rate hike

Housing Wire

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.

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Provide Rental Comp Data to Appraisers (More Important Than You Realize)

JMV Lending

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.

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Freddie Mac Announces $536M Securitization of Re-Performing Loans

Appraisal Buzz

Freddie Mac has announced the pricing of its second Seasoned Credit Risk Transfer Trust (SCRT) offering of 2022 —a securitization of approximately $536 million including both guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned re-performing loans (RPLs).

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Mortgage Activity Falls as Rates Top 6%

Eyes on Housing

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.

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Rocket launches program to lower first-year mortgage payments

Housing Wire

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.

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What Appraisers Should Know About the Increase in Industrial Transactions

Valcre

With the growing number of industrial real estate transactions, appraisers may become busier than ever

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New Bill to Accelerate the Processing of VA Loans

Appraisal Buzz

The passage of HR 7735 will ease the barriers faced by veterans in obtaining an appraisal on a VA loan, evening the playing field in a competitive housing marketplace. The post New Bill to Accelerate the Processing of VA Loans appeared first on DSNews.

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Decline in Single-Family Permits in July 2022

Eyes on Housing

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.

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Fannie Mae picks winners of 4th RPL sale of 2022

Housing Wire

Fannie Mae has completed the sale of its 27 th reperforming-loan offering since the inaugural transaction in 2016. The deal represents Fannie Mae’s fourth reperforming-loan sale this year and involves a total of some 6,060 loans valued at $986.4 million.

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Users Love Us – Read What Our Customers Have To Say

GoForrmz

GoFormz customers share their insights and success stories Teams across the globe and every industry rely on GoFormz.

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House Passes Bill to Modernize VA Loan Appraisals

Appraisal Buzz

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.

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Percent Share of 5,000+ Square Foot Homes Rises in 2021

Eyes on Housing

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.

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Construction tech startup Modulous raises $11.5 million

Housing Wire

Seattle and London-based construction technology company Modulous has raised $11.5 million in its Series A funding around, according to an announcement on Monday. The firm said the funding will help further the growth of its physical and digital technologies.

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FSBOs Usually Soar in a Hot Market. Not This Time

Empire Appraisal Group

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.

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Lack of Transparency Hinders the Unbanked

Appraisal Buzz

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.

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Inflation Remains Near 40-Year High

Eyes on Housing

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.

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FHA to “reassess” Catalyst appraisal tech solution

Housing Wire

The Federal Housing Administration on Thursday said it would pause the mandatory effective date for its electronic appraisal delivery module because it is “reassessing aspects of [its] development and implementation.”.

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Improving Benefits Administration with GoFormz

GoForrmz

How to improve your benefits programs with digital forms Now more than ever, people want personalized and meaningful experiences in their work–especially when it comes to their employee benefits. Employees want to feel truly known and heard throughout the year, not only during benefits enrollment.

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Increasing Prices Limiting Access To Homeownership

Appraisal Buzz

It’s no secret that the combination of rising home prices along with a trend of increasing interest rates have made buying the typical single-family home much more expensive, if not completely unaffordable for many.

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