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One year ago this month, I coined the term forbearance crash bros , an updated name for the housing bubble boys who never got their housing crash in 2020 so they moved the collapse of housing to 2021. Many other articles were written in tribute to this wonderfully talented group of internet crash callers. As we are in September 2021, we can safely say the housing crash has been moved once again to next year.
Normal? That’s not a word we’ve used much to describe the housing market lately, but we are finally starting to see some normalcy. Many parts of the country are showing what looks to be normal seasonal slowing and that is a sight for sore eyes. Anyway, let’s talk about this and then I have lots […].
In today’s Buzzcast, we dive into mortgage fraud within the industry. Today we have Bridget Berg, Senior Director of Fraud Solutions Strategy for Corelogic, with Joan Trice, Founder of Allterra Group, LLC. We’ll be getting the inside scoop while Joan and Bridget discuss the increase in fraud, how it keeps happening, and how it can be stopped. How exactly are appraisers seeing fraud in the current market?
Technology is important to your business. Sometimes, it can be a challenge to keep your computer, your systems, your network, your internet, and the software you use all running and. Read More.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. This week’s near constant mortgage rates tracked with the 10-year Treasury yield, which rose slightly and then tapered off in the past week.
Housing affordability has gained increased attention in recent quarters due growing home prices and rents. For the second quarter of 2021, NAHB’s Home Building Geography Index (HBGI) explored a geographic measure of housing affordability using Price-to-Income ratios of all counties in the United States1 to map the geography of single-family and multifamily construction.
Housing affordability has gained increased attention in recent quarters due growing home prices and rents. For the second quarter of 2021, NAHB’s Home Building Geography Index (HBGI) explored a geographic measure of housing affordability using Price-to-Income ratios of all counties in the United States1 to map the geography of single-family and multifamily construction.
Have you ever tried to do an appraisal for a house so big that you could literally get lost doing the exterior measurements? What about one where the seller insisted on absolutely no interior photos? What about an appraisal where the house itself had several bodyguards? I have – just once. My advice? If a client offers you such a job, politely turn it down.
Science is systematic way to build and organize knowledge. What’s to fear? Science is a search for the truth. Scary. How can the search for truth be scary? It is especially easy to deny the results of systematic study, if one can latch on to other’s fears, perpetuated misinformation, and wishful thinking. […]. The post Fear of Science? appeared first on George Dell, SRA, MAI, ASA, CRE.
Wells Fargo has been slapped with a $250 million civil money penalty by the Office of the Comptroller of the Currency for “unsafe or unsound practices” pertaining to their home lending loss mitigation program this week. According to the OCC, the fine is also a result of the bank violating the terms of a 2018 compliance consent order , which alleged that Wells Fargo did not implement or maintain a compliance risk management program proportionate with the bank’s size, complexity and risk pro
According to the most recent release of the Bureau of Labor Statistics Producer Price Index (PPI), the prices of goods used as inputs to residential construction including and excluding energy have risen 19.0% and 12.0%, respectively, year-to-date (YTD). In contrast, the index for final demand goods has climbed 7.2% and that for final demand goods less food and energy is.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Paradatec , a provider of AI-based document classification and data extraction technology for mortgage loan processing, now offers its software via the cloud. That means lenders and servicers can easily access the company’s automated AI and machine learning tools via the cloud. “Our clients can now forego investing in their own server and network infrastructure and ongoing administration costs, and instead leverage our secure cloud environment,” says Neil Fraser, director of U.S. operations for
Record healthcare data using digital forms equipped with these five impactful fields Healthcare is fast-paced, round-the-clock work and with no room for error. Whether a patient seeks care from a senior care facility , an emergency room, or a small private practice, patients count on healthcare professionals for prompt, quality care. Paper-based documentation jeopardizes efficiency in the workplace with delays, lost documentation, illegible print, and more, ultimately putting your healthcare pra
King County in Washington is the 12 th most populous county in the U.S. with 2.2 million people, and — as home to Seattle — it is one of the wealthiest pockets of America. At the end of August 2019, there were 5,472 homes for sale in King County, according to the Northwest Multiple Listing Service. At the end of this August? There were just 2,268 houses, per the Northwest MLS, down 241%.
Median square foot prices in new custom single-family detached (SFD) homes started in 2020 increased 8%, according to NAHB’s analysis of the latest Survey of Construction data. Increases in square foot prices in new for-sale SFD homes (excluding skyrocketing improved lot values) averaged 4%. Median sale and contract prices per square foot went up across all US regions, except for.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Women pioneers in the mortgage space will be recognized by their peers in-person, in Dallas at the upcoming Five Star Conference. The post The Industry’s Rising Stars to be Honored in Dallas appeared first on theMReport.com. The post The Industry’s Rising Stars to be Honored in Dallas appeared first on Appraisal Buzz.
Seamlessly enhance PropTech data collection with these powerful digital form features PropTech addresses the challenges faced by clients and teams researching, renting, buying, selling, or managing properties. The real estate industry has grappled for too long with manual, tedious leasing and payment processes, unaffordability, lack of flexibility, and more.
United Wholesale Mortgage (UWM) announced today that it will no longer require its brokers to use appraisal management companies to complete appraisals. The Pontiac, Michigan-based wholesale lender will instead coordinate appraisals in-house, contracting with appraisers directly, offering appraisers and brokers a way to bypass AMCs altogether, which UWM CEO Mat Ishbia characterizes as “middlemen.”.
According to data from the Census Bureau’s Survey of Construction (SOC), 67.1 percent of single-family homes started in 2020 were built within a community or homeowner’s association. This is a record high for the association percentage since the re-design of the SOC in 2009. The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common.
A new analysis by LendingTree has found that the average down payment has kept pace with record-high home prices, with some down payments coming in at 88% of the median area income. . The post The Average Home Down Payment Crosses $100K in California appeared first on theMReport.com. The post The Average Home Down Payment Crosses $100K in California appeared first on Appraisal Buzz.
When you work with UWM Appraisal Direct… if a borrower pays $500 for an order, the entire fee goes to you. UWM doesn’t make $1 on the order. No appraisal management fees… This announcement just popped into my email, from HousingWire: UWM launches AMC-free appraisal program UWM to coordinate appraisals in-house United Wholesale Mortgage (UWM) announced today that it will no longer require its brokers to use appraisal management companies to complete appraisals.
Homeowners withdrew $63 billion in equity in the second quarter of 2021, according to the latest numbers from Black Knight , the most in a single quarter in nearly 15 years. There is still $9 trillion in tappable equity, a 37% increase year-over-year. The driver is, of course, spiking home prices in most places. Home values have risen so dramatically that the average homeowner could refinance their mortgage and withdraw $173,000, while retaining 20% equity in their home.
In the second quarter of 2021, residential construction continued to shift toward the suburbs and lower-cost markets, and this trend is especially pronounced within the multifamily sector, according to the latest Home Building Geography Index (HBGI). During this period, multifamily construction posted double-digit percentage gains in small metro core and suburban areas, while large metro areas experienced a decrease for.
Current EVP and CFO is promoted to new role and will have a set on the company’s Board of Directors when he assumes his new role come January. . The post NMI Holdings Promotes Adam Pollitzer to President and CEO appeared first on DSNews. The post NMI Holdings Promotes Adam Pollitzer to President and CEO appeared first on Appraisal Buzz.
Dear HUD, recently, within the past year or so, you have been on a crusade to prove discrimination and racism in the appraisal process. Your actions haven’t gone unnoticed by many within the appraisal profession as well as outside it. It’s become clear that you are the go to organization for complaints. Ok. Please read this in its entirety and see my thoughts at the end before making a judgement.
Mortgage application volume declined by 1.9% as of Sept. 3, falling to its lowest level since mid-July, according to the Mortgage Bankers Association’s weekly survey published on Wednesday. On an unadjusted basis, MBA’s index decreased by 3% compared to the previous week. Pushing the decline was the refinance index, which dipped by 3% from the previous week and was 4% lower than the same week year-over-year, the MBA said.
In the July labor market data, job openings for the overall economy increased to 10.9 million open positions. What had been a challenge in certain sectors, like construction, continues as a broad labor access issue as businesses seek workers as the economy reopens. The count of open construction jobs weakened in July to 321,000 unfilled positions, according to data from.
A new webinar from Freddie Mac will detail the Refi Possible product and how it can enable millions of homeowners to reduce their monthly mortgage expenses through this new offering. The post The Week Ahead: GSE Creating Opportunities for Low-Income Borrowers appeared first on DSNews. The post The Week Ahead: GSE Creating Opportunities for Low-Income Borrowers appeared first on Appraisal Buzz.
Join George Dell & Craig Gilbert for a free 2-hour webinar on Market Price Indexing: For Peaking Prices… Price indexing is also known by other words, such as time adjustments or market conditions adjustments or trend analysis. A number of techniques have been recommended over the years. Most are flawed. Oddly, the algorithm mechanics of calculating are fairly simple and intuitive.
When it comes to consumers’ growing desire for a seamless, fully digital home-buying experience, coupled with COVID-19’s influence on buying behaviors, it’s safe to say there truly is “no turning back.”. The pandemic had a profound impact on the home-buying experience. Lenders that may have been holding out on embracing automation and technology were forced to adapt at breakneck speed to continue to serve customers.
The second quarter of 2021 marked the second consecutive quarter of loan growth for residential construction loans. These gains have lifted the year-over-year growth rate, marking an expansion of outstanding loans for home builders. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 4.9% during the second quarter, even as the market cooled off strong.
Mortgage credit availability increased in August according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool. The MCAI rose by 3.9% to 123.7 in August. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
Hard money loans may not be difficult to get, but they can be expensive. Despite the cost, they’re an essential tool for investors. Knowing when to use hard money and how to get it is critical.
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