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RESPA Section 8 reforms and modernizations are sorely needed, MBA says

Housing Wire

The Mortgage Bankers Association (MBA) on Thursday released a new white paper , which argues that Section 8 of the Real Estate Settlement Procedures Act (RESPA) is in need of reform and modernization to better reflect “today’s highly-regulated mortgage market.” It was originally overseen by the U.S.

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Making housing more affordable by bridging the affordable supply gap

Housing Wire

Since 2011, the number of existing single-family homes for sale has declined more than 30%. As Candace Taylor writes in The Wall Street Journal , “These days, buyers eschew the large, ornate houses built in [previous] years in favor of smaller, more-modern looking alternatives.”

Finance 435
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Most good things change, and most change is good!

Appraisal Buzz

We all have seen the buzz phrases: appraisal modernization, bifurcation, data collectors, desktop and hybrid appraisals, and observation (rather than Inspection). Next gen appraisers Several white papers have been developed on the declining number of appraisers dating back to 2011. Some of these have been around for many years.

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Lower mortgage rates are stabilizing the housing market

Housing Wire

Only from 2006-2011 did we see this break due to forced sellers who couldn’t buy homes. This time the hit on demand is much more challenging as we are working from a savagely unhealthy rise in home prices since 2000, and mortgage rates have skyrocketed in the most prominent fashion in modern history. NAR: Total Inventory levels 1.22

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Existing home sales data shows extent of housing inflation

Housing Wire

With mortgage rates rising, 2022 has seen the most significant housing inflationary event in recent modern history as the total cost to buy a home took a historic run higher, one that is for the record books. However, it’s not the market of 2002-2011.

Inventory 482
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BREAKING The New York State AMC Law Is Now In Effect

Miller Samuel

It is a 2011 take that still holds up on the AMC industry from American Banker's Bankthink column (I've written a column there before on another subject): Appraisal Management Companies Create More Problems Than They Solve. If you're not an appraiser, then you want to read this. But I'm no lawyer so I'll look for clarification on their logic.

Law 367
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Rise above the panic, for the housing market’s sake

Housing Wire

Research from Glossy and Modern Retail coined the “Great Mall Overhaul ” and made the call for a pivot, the evolution from transactional to experiential. Now, many would have you believe that leases are in trouble, space is going to sit empty and that shopping malls are a thing of the past, but the model simply needs to change.

Retail 418