December, 2021

Ex-MBA prez Ronald McCord to pay $52M mortgage fraud penalty

Housing Wire

A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company , who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud.

How Tech is Working on the Solution to the Appraiser Shortage 

Appraisal Buzz

The shortage of appraisers within the industry has been well publicized recently and no doubt plenty of you reading this article have experienced the impact of this shortage first hand.

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Listing Inventory Trends In The Time Of COVID

Miller Samuel

The Winter 2022 issue of Elliman Magazine was published this week and it is quite a beautiful publication. I created a chart for the publication which compares month listing inventory trends across a number of the markets we cover for Douglas Elliman.

Is Appraisal Obsolete (The Process)?

George Dell

Process: Current appraisal practices are controlled by the quirks of each ‘valuation’ industry: appraisal by obsolete assumptions of data difficulty, AVM ‘automated’ models by industrial secrecy, and other non-appraiser products which are under-regulated or over-regulated — depending on original intent.

What’s The Size of Your Driveway?

Cleveland Appraisal Blog

One appraiser reports a driveway to be two cars in size. Another says the same driveway is six cars in size and another says the driveway is an eight-car driveway. They may all be correct! How so? It really depends on how the appraiser is looking at it.

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Breaking Barriers to Success

The Appraiser Coach

Are you getting in your own way? Are you limiting your own success because you don’t believe that it is possible to reach your goal? There is a way you. Read More.

Housing inventory has never been lower

Housing Wire

It’s official – housing inventory in America is at a crisis level. The number of active listings hit an all-time low during the week ending November 28, according to a Redfin report published on Wednesday.

More Trending

Buckle up for next year’s housing market

Sacramento Appraisal Blog

It’s real estate prediction season and I have a few thoughts about the beginning of next year. I’m cautious about predicting because my crystal ball is broken, but it’s a no-brainer to say we’re poised to start next year with heavy competition.

Is Appraisal Obsolete?

George Dell

Obsolete! Such a harsh word. Can it be? Is the problem convolution? Does it mean I will soon be obsolete? Not needed? Not loved? Terrible. What can be done? Yet all the little signs are pointing that way. Automated” valuation models have much of the market, and continue to gain.

Employment Situation in October: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 47 states and the District of Columbia in October compared to the previous month while three states lost jobs.

HUD Dismisses Claims Alleging Racism

Appraiserblogs

…white America (government) keeps trying to ‘fix’ Black People who are not broken in the first place! We’ve all heard of redlining. No one doubts it existed and MAY still exist, among private lenders. It’s hard to accept major national banking corps would risk it but it IS possible.

What Omicron, bond market and jobs mean for housing

Housing Wire

Today, the Bureau of Labor Statistics reported 210,000 jobs were created in November — a miss from estimates. They also reported 82,000 in positive revisions to the previous jobs report. The unemployment rate is currently at 4.2%. For men and women age 20 and over, it stands at 4.0%.

OptifiNow Builds Custom Integration with LoanScorecard for Non-QM Wholesale Lender

Appraisal Buzz

OptifiNow , a provider of custom CRM solutions for the mortgage lending industry, has announced an integration with LoanScorecard, a provider of non-agency automated underwriting systems.

How to Add An Electronic Signature Form Field to Your Digital Form

GoForrmz

Leverage Signature fields to improve compliance, expedite processing and approvals, and simplify Signature location Whether you need to capture authorizations on work orders and timesheets or you’re a teacher collecting Signatures on permission slips , electronic Signature fields are important to our day-to-day.

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Commercial firm announces acquisitions

Valuation Review

BBG recently announced it acquired Tampa-based appraisal firm Trigg, Catlett & Associates. Terms of the deal were not disclosed. Read on for more details about this acquisition

Private Residential Spending Dips for Second Month

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate of $774.9 billion, down 0.5% from the upwardly revised September estimates. Total private residential construction spending was 16.7%

ALOFT = “A Lack of Freaking Talent”

Appraiserblogs

When I read the announcement that Fifth Wall funded a relatively new startup called ALOFT, I and many of my peers were confused on what the value proposition actually is.

Mortgage rates remain flat as Omicron fears spread

Housing Wire

Mortgage rates increased one basis point to 3.11% in the week ending Dec. 2, ignoring the volatility in the financial markets caused by the Omicron Covid variant , according to the latest Freddie Mac PMMS mortgage report.

CoreLogic: Home Price Appreciation Slowed in October

Appraisal Buzz

home prices increased 1.3% in October compared with September and were up 18% compared with October 2020, however, the rate of appreciation slowed, according to CoreLogic ’s home price index.

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[Customer Story] FOR Energy

GoForrmz

“ An audit takes a while.so to be able to shave time off of that is pretty valuable for the customer experience. ” ” — Vladimir Kostovski, Salesforce Consultant, FOR Energy.

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Accurate Group announces acquisition

Valuation Review

Accurate Group recently announced the acquisition of eMerge Property Solutions, a market leader in supplying broker price opinions and other alternative valuation solutions.

Strong Regional Growth Amid Lessened Suburban Shift: Q3 2021 HBGI

Eyes on Housing

The suburban shift for single-family home building, which was precipitated in large part by the onset of the COVID-19 pandemic last year continues.

Study: ADUs Can Add 35% to Home’s Value

Empire Appraisal Group

Study: ADUs Can Add 35% to Home’s Value. Accessory dwelling units, also known as granny flats, in-law suites, or garage apartments, have been on the rise since the pandemic. ADUs are growing at a rate of 9% or 100,000 per year, according to a new analysis by Porch.com, a home improvement site.

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Residential construction jobs slowly return

Housing Wire

Following a strong showing in October , a somewhat disappointing U.S. jobs report released Friday shows that 210,000 non-farm jobs were added in November, bringing the unemployment rate down to 4.2%. While this is a 0.4% decrease in unemployment, the rate is still above the 3.5%

Soft Landing from Pandemic Could Mean Less Inventory, Higher Prices; Lower Rates Boosted Refis

Appraisal Buzz

Black Knight’s Mortgage Monitor for the month of October looks at current delinquency statistics and their potential downstream effects on inventory and other housing concerns.

[Video] How Balmain & Co. Accelerates Warranty Claim Processing with Online Forms

GoForrmz

Discover how Balmain & Co streamlines the collection of client warranty claims with online forms and the Procore integration Balmain & Co, a Melbourne-based developer and builder, needed a more efficient means of collecting and processing warranty claims for their buildings’ apartment owners.

JLL exec outlines EPC due diligence

Valuation Review

Earlier, Valuation Review reported JLL Valuation Advisory hiring of Dennis Firestone as senior vice president/premier client accounts in its Environmental and Property Condition (EPC) team.

Job Gains Decelerate in November

Eyes on Housing

While job gains decelerated in November, the unemployment rate dropped to 4.2% and the labor force participation rate increased to 61.8%, the highest reading since March 2020.

The Loan Officer’s Guide to Appraisals Part 12:  Frequently Asked Questions

Riverfront Appraisals

Well, we did it! We made it to the end of a year-long series called the Loan Officer’s Guide to Appraisals! If you’ve read each post, or listened to each accompanying podcast over at The Appraisal Cast, thank you!

Introducing the HousingWire 2021 Tech Trendsetters

Housing Wire

The housing industry has been working in overdrive over the last few years to shed the idea that its technology is antiquated and outdated. In today’s environment, this couldn’t be further from the truth.

Fannie Mae Issues $100B in Green Bonds

Appraisal Buzz

Fannie Mae hit a major milestone in 2021 as it has now issued $100 billion in green, multifamily mortgage-backed securities (MBS).

The Top 3 Digital Forms for Waste Management

GoForrmz

Improve your daily operations and data collection by utilizing these top waste management forms With digital forms, waste management organizations can significantly increase visibility into field team activities to create more efficient communication between in-field and administrative staff.

Presenters outline important ‘keys’ for appraisers

Valuation Review

October Research, LLC produced a webinar hosted by Valuation Review called “Keys for Operational Efficiency.

Construction Job Openings Surge

Eyes on Housing

The labor market continues to tighten, especially for the construction industry. The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the data series (going back to late 2000).

Uneven Recoveries Can Build Long-Term Racial and Ethnic Disparities in Housing

Urban

With a predominately Black and Hispanic population, Newark, New Jersey, provides a case study of how economic recessions can cause disparate long-term inequities by race and ethnicity

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Zillow: Over half of our iBuying inventory is on the move

Housing Wire

Zillow said Thursday that more than 50% of its remaining iBuying inventory “has sold, is under contract to sell or has reached agreement on disposition terms.”. Also, the company’s board of directors authorized the repurchase up to $750 million in shares of Zillow stock, according to a press release.

Falling Rates Spark Run on Refis

Appraisal Buzz

Overall mortgage application volume is on the rise, and with rates just above the 3% mark, refinances led purchase apps in a market still hamstrung by supply concerns. The post Falling Rates Spark Run on Refis appeared first on theMReport.com.