Wed.Sep 28, 2022

FoA plans to sell retail division to Guaranteed Rate, close wholesale channel: sources

Housing Wire

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. .

Retail 353

Volatile Mortgage Rates Cause More Than Stress

Appraisal Buzz

If one started looking for a home in July, that person has just endured the most volatile mortgage rate environment seen since 1987, when rates were trying to normalize after peaking at 19% a few years earlier.

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An Excess of Appraisers? Part III

George Dell

Editor’s Note: This is Part 3 of the series on Excess of Appraisers and how this cyclical phenomenon is affected by the five frictions of modernization. The emerging excess of appraisers is inevitable and recurring.

HUD Awards $5M for Repairing Low-Income Veteran’s Homes

Appraisal Buzz

The U.S. Department of Housing and Urban Development (HUD), in partnership with the U.S. Department of Veterans Affairs, today awarded $5 million in $1 million allotments to five non-profits in support of the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP).

Pending home sales down nearly 25% from 2021 in August

Housing Wire

Pending home sales continued to drop in August, recording a 1.0% month-over-month decline that resulted in an index reading of 88.4, according to data released Wednesday by the National Association of Realtors. In July , the index fell 1.0% after recording an 8% drop in June.

Markets Considered Overvalued Increasing as Mortgage Rates Rise

Appraisal Buzz

First American Financial Corporation, a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today released the July 2022 First American Real House Price Index (RHPI).

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Housing Affordability Continues Rapid Annual Decline

Appraisal Buzz

First American Financial Corporation, a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today released the July 2022 First American Real House Price Index (RHPI).

Mortgage demand falters as rates inch past 7%

Housing Wire

Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% for the week ending September 23, compared to the previous week.

Pace of Refis Falls to 22-Year Low Point

Appraisal Buzz

Continued inflationary burdens, and mortgage rates hitting 14-year highs have driven down mortgage applications this week, as the Fed continues to raise rates to combat a volatile economy. The post Pace of Refis Falls to 22-Year Low Point appeared first on theMReport.com.

HW+ Member Spotlight: Tammy Richards

Housing Wire

This week’s HW+ member spotlight features Tammy Richards, CEO at LendArch. She has held leadership positions at Bank of America and Caliber Home Loans , and most recently served as chief operating officer at loanDepot.

HUD Offers Assistance to Victims of Hurricane Fiona

Appraisal Buzz

In an effort to assist in the recovery after Hurricane Fiona made landfall, the Department has issued a new set of waivers offering regulatory and administrative relief to homeowners impacted in Puerto Rico. The post HUD Offers Assistance to Victims of Hurricane Fiona appeared first on DSNews.

Don’t miss these 4 breakout sessions at HW Annual Oct. 3-5

Housing Wire

The entire agenda at HousingWire Annual is jam-packed with informative speakers and invigorating panels. Included in this agenda are also four, breakout sessions that cover different key parts of the housing sector.

Most Areas Report Declining Contract Activity

Appraisal Buzz

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this year.

Non-QM lender Angel Oak Mortgage Solutions cuts 20% of staff?

Housing Wire

Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility.

Pending Home Sales Numbers Continue Recent Slide

Appraisal Buzz

The Pending Home Sales Index (PHSI), which measures housing contract activity, again fell in August, the third month in a row and the ninth time it has fallen this year.

Mortgage demand falters as rates inch past 7%

Housing Wire

Demand for mortgage loans dropped following the Fed’s decision to raise interest rates by an additional 75 basis points last week. The market composite index, a measure of mortgage loan application volume, declined 3.7% for the week ending September 23, compared to the previous week.

Appraisers in the Condo

Appraisal Buzz

Today’s Buzzcast interview is with Joe Minnich. We sat down with Joe and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool in appraising condominium properties. What can we learn from the recent collapse of a condo building?

Non-QM lender Angel Oak Mortgage Solutions cuts 20% of staff

Housing Wire

Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility.

Appraisers in the Condo

Appraisal Buzz

Today’s Buzzcast interview is with Joe Minnich. We sat down with Joe and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool in appraising condominium properties. What can we learn from the recent collapse of a condo building?

New Homes Built with Private Wells and Individual Septic Systems in 2021

Eyes on Housing

According to NAHB Economics analysis of the Survey of Construction (SOC) data, almost 9% of new single-family homes started in 2021 are served by individual wells and 16% have private septic systems.

Mortgage Rates Impacting Housing- September Newsletter

DW Slater Company

“Texas is neither southern nor western. Texas is Texas.” ” ~William Blakely. I am a 7th generation Texan on both sides of my family. I can trace my roots back to the Battle of San Jacinto and the Old Three Hundred. If you are from Texas then you get it.

Productivity Hacks For Real Estate Agents

McKissock

For even the most veteran real estate professionals, managing time can be a struggle. That’s why it’s time to take advantage of a resource that you may be underutilizing: the weekend.

Q&A with Valcre user: Michael Burdett of For What It’s Worth Appraisals

Valcre

For What It’s Worth Appraisals is a South Carolina-based firm with a proven track record in the residential space with 4,000 such appraisals in 2021. At the end of last year, they made the plunge into the commercial sector by adding commercially-focused Michael Burdett and Valcre to their arsenal.

Fixed vs. variable: What's in store for the rest of 2022?

Mortgagebroker News

Expect further increases and a shift in preferences, says executive

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Accurate Group Announces Expansion of Real Estate Appraiser Panel

Appraisal Buzz

Accurate Group Announces Expansion of Real Estate Appraiser Panel in Response to Growing Demand from Lenders and Servicers. Market leader in appraisal management technology to grow both in-house panel and independent appraiser network nationwide.

Community Trust hits the mark with turnaround times

Mortgagebroker News

Brokers on Lenders results show willingness to listen and take action, says Lisa Abbatangelo

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Opinion: Forgiving student loan debt boosts homeownership

Housing Wire

Last month, President Joe Biden announced the federal government would forgive hundreds of billions of dollars of student loans. I believe this initiative is one of the most consequential administrative actions for housing in a generation.

Design 283

Revealed – how much Canada home prices will fall this year

Mortgagebroker News

The market cooldown is set to continue

August 2022 South Florida Housing Report

Lamacchia Realty

The Lamacchia Realty South Florida Housing Report presents overall home sale statistics and highlights the average sale prices for single families, condominiums/townhomes in Broward County, Miami-Dade County, and Palm Beach County for August 2022 compared to August 2021.

How much have rents in the GTA grown?

Mortgagebroker News

Rents are now significantly higher than the pandemic-era trough seen in early 2021, new report says

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5 Orlando Housing Market Predictions for 2023

Mashvisor

Wondering about Orlando housing market predictions for next year? Let’s look at some facts in this article and see what we can expect. Table of Contents How Has the Orlando… Investor Blogs Real Estate Analysis Airbnb Cash on Cash Return Location Market Analysis Orlando FL Traditional

OREA: Brokers and consumers have no recourse vs. racism, discrimination

Mortgagebroker News

Nearly one in five consumers faced challenges in the mortgage process due to their identity, report says

Median US Home Prices Up 46% Since Start of Pandemic

Mashvisor

Housing affordability is slipping through the cracks as median US home prices have gone up 46% since the pandemic started.

Marathon Mortgage CEO on the value of dealing directly with brokers

Mortgagebroker News

Executive on the qualities that make the broker channel a strong asset for the company