Sat.Apr 23, 2022 - Fri.Apr 29, 2022

A property tax reckoning is coming

Housing Wire

In Spokane, Washington, a mortgage loan officer at a regional bank has seen five borrowers qualify for a mortgage for one amount, only to have that number slashed a few months later. They were approved in December,” he said. Now they’ve gone from $450,000 down to $325,000.”.

A shift in demand in the housing market

Sacramento Appraisal Blog

Do you feel that? It’s change. The housing market is still elevated, but there’s no mistaking a different temperature – especially over the past week. STUFF ON MY MIND: This is designed to scroll quickly or digest slowly. The goal is to highlight stats and things I’m watching.

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Mortgage Delinquencies Drop to Record Low in March, Black Knight Finds

Appraisal Buzz

Black Knight Inc. ’s s “first look” at March 2022 month-end mortgage performance statistics derived from its loan-level database shows the national delinquency rate dropped by more than half a percentage point in March.

Do We Need a Neighborhood Section? Part II

George Dell

The current residential form (the URAR) neighborhood section is well designed – for data the way it was 40 years ago, filled in on a typewriter, with no software ability to summarize, graph, or map data. Do We Need a Neighborhood Section? Part I is here.

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CrossCountry strikes a deal to acquire LendUs

Housing Wire

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. .

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Time to Break Out the Saddle!

The Appraiser Coach

Let’s talk about ponies. No, not the hairy little animals that run around your yard and play with your kids. This pony is an acronym, spelled POINII. You’ve heard me. Read More.

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April Newsletter-Markets Still Flying

DW Slater Company

Azalea District, Tyler, TX. Winter’s done, and April’s in the skies, Earth, look up with laughter in your eyes!” Charles G. Roberts. It has been an unusual April in North Texas this year and one of the windiest on record!

The crypto-mortgage is the new kid on the block

Housing Wire

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future.

Housing Share of GDP Edges Higher at Start of 2022

Eyes on Housing

Housing’s share of the economy edged higher at the start of 2022 due in part to a surprise drop in growth. For the first quarter of 2022, overall GDP growth declined at a 1.4% annual rate, driven by increased inventories and a jump in imports.

Valuation Expo: September 7-9

Appraisal Buzz

Valuation Expo will be hosted at the Mirage Hotel , September 7-9! Check out our new sessions with leaders in the industry and gain valuable knowledge while having all the fun Vegas has to offer! Get up to 21 Hours of Continuing Education and an optional 7 hours of USPAP!

A Room-by-Room Guide to Eco-Friendly Home Modifications and Renovations

Raleigh Realty

Sustainable Renovations for Every Room Whether you buy an older home or a new construction home, there are most likely modifications and renovations you can do to make your new house more eco-friendly.

Opinion: the beginning of the mortgage ice age

Housing Wire

Planet Earth has has gone from a ball of molten rock to ice, and then, to the climate we have today. Just like Earth, mortgage rates and housing markets are cyclic and we’re heading into another Ice Age. Find me a sales meeting in the U.S. that didn’t talk about the cycle.

Builders’ Profit Margins Fall as Balance Sheets Grow

Eyes on Housing

The financial performance of any company is directly linked to the industry environment in which it operates.

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What’s New in Appraisal Membership: April 2022

Appraisal Buzz

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources.

A milestone for reflection and celebration

Valuation Review

In the beginning, news updates and feature stories were delivered by a publication titled “Appraisal Intelligence.”

Mr. Cooper lays off workers as originations nosedive

Housing Wire

Add Mr. Cooper Group to the list of mortgage originators and servicers reducing staff: pink slips arrived for 250 employees in the first quarter, as the company faced declines in the earnings from loan originations. And the company is forecasting a few tough origination quarters ahead.

Homeownership Rate Stable at 65.4%

Eyes on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.4% in the first quarter of 2022, which is statistically unchanged from the last quarter reading.

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New Black Knight Tool Identifies Possible Minority Bias in Home Valuation Process

Appraisal Buzz

Black Knight Inc. has launched CA Risk Profiler Plus, a tool designed to help mortgage lenders, appraisers and appraisal management companies (AMC) identify potential minority bias in the home valuation process.

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Fed Up With so Many Northerners Moving to Fla.?

Empire Appraisal Group

Fed Up With so Many Northerners Moving to Fla.? Source: Fed Up With so Many Northerners Moving to Fla.? Florida Realtors. By Amber Randall.

What a dip in mortgage demand says about the housing market

Housing Wire

Interest in residential mortgage loans fell 8.3% for the week ending April 22, including a sharp decline in purchase applications, which indicates a potential weakness in home sales in the coming months, according to the Mortgage Bankers Association ‘s (MBA) latest survey.

GDP Unexpectedly Decreases in the First Quarter

Eyes on Housing

In the first quarter of 2022, real GDP declined for the first time since the pandemic recession, as inflation surged to a 40-year high and supply chain disruptions remain persistent.

Veros: Home Price Decreases Not Expected

Appraisal Buzz

In March, the U.S. Federal Reserve increased interest rates by a quarter of a point to address rising inflation and a litany of other economic problems stemming from the COVID-19 pandemic.

CoreLogic: Delinquency numbers for January examined

Valuation Review

The CoreLogic Loan Performance Insights (LPI) report through January 2022 showed 3.3 percent of mortgages were delinquent by at least 30 days or more including those in foreclosure. This represents a 2.3-percent decrease in the overall delinquency rate compared with January 2021.

Rocket offers voluntary buyouts to 8% of workforce

Housing Wire

Rocket Companies CEO Jay Farner. Even the biggest mortgage players aren’t immune to the effects of higher rates and tight housing inventory.

New Home Sales Fall on Higher Rates

Eyes on Housing

New single-family home sales declined in March as mortgage rates jumped to the highest levels since the start of the pandemic. Per Freddie Mac, the 30-year fixed rate mortgage was 3.89 at the end of February and had climbed to 4.67 at the end of March. The U.S.

Interest Rates are Up, Will Home Prices Drop?

Appraisal Buzz

In March, the U.S. Federal Reserve increased interest rates by a quarter of a point to address rising inflation and a litany of other economic problems stemming from the COVID-19 pandemic.

USPAP panel addresses questions at NAA conference

Valuation Review

At the 2022 National Association of Appraisers Conference and Trade Show (ACTS) in South Carolina, some of the profession’s leading experts took questions from audience members to clarify matters concerning the Uniform Standards of Professional Appraisal Practice (USPAP).

AIME CEO Katie Sweeney on the importance of agility in the current market

Housing Wire

The HousingWire award spotlight series highlights the individuals who have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s Women of Influence award are now open through Friday, April 29, 2022. Click here to nominate someone you know — it can even be you!

March Gains in Personal Income

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March after a 0.7% gain in February. Gains in personal income are largely driven by increases in compensation of employees. However, it was 11.6%

Real House Prices Increase Nearly 31%

Appraisal Buzz

First American Financial Corporation released the February 2022 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S.

Emergency Preparedness Guide for Individuals With a Mobility Impairment

Raleigh Realty

Disaster Prep With Limited Mobility In the United States and Canada, more than 18 million people have limited mobility. If you are a person with limited mobility, or you have a loved one with limited mobility, you must prepare for emergencies.

Refinance volume has “dried up,” Old Republic says

Housing Wire

While other “big four” title insurers discussed the “transitional period” in the housing market during their first quarter 2022 earnings calls with investors, Old Republic International Corp. ’s s president and CEO, Craig Smiddy decided to take a bolder stance. “I

FHA-Share of New Home Sales at 15-Year Low

Eyes on Housing

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that conventional loans accounted for 78.5% of new home sales in the first quarter of 2022, the highest share in more than a decade.

Housing Market Begins to Adjust to Current Conditions

Appraisal Buzz

First American Financial Corporation released the February 2022 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S.