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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. United States District Judge Robin Cauthron ordered McCord also serve 8.5 years in prison — the maximum the federal government said it would seek — as well as three years of supervised release.
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. Big 2022 market update: I’m doing a big market talk at SAR on […].
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. [click to expand image] The post Listing Inventory Trends In The Time Of COVID first appeared on Miller Samuel Real Estate Appraisers & Consultants.
This article was first published in the Fall 2021 Edition of Appraisal Buzz Magazine. To receive this subscription directly, click here. Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) The Income Approach considers the present value of expected future cash flows. (3) Cost Approach has a basic formula: Property Value = Land Value plus Cost New minus Depre
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 Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. The federal government will now back mortgage loans of nearly $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas now $970,800 — or 150% of $647,200. Special statutory provisions establish different loan limit calculations for Alaska, Hawaii, Guam, and the U.S.
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. Other valuation methods and appraisal […]. The post Is Appraisal Obsolete?
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. Other valuation methods and appraisal […]. The post Is Appraisal Obsolete?
Realtor magazine published an article about whether or not listing photos should stay online after the home has sold. Some homeowners have privacy and safety concerns over these photos being. Read More.
In next week’s “Reflections and Projections” webinar, Rick Sharga and Ed Delgado will look back on 2021 and discuss how the industry must conform to changes in compliance, the marketplace, and the needs of customers to properly prepare for the coming year. The post The Week Ahead: Forecasting Mortgage Industry Trends for 2022 appeared first on DSNews.
Today, pending home sales came in as a big beat of estimates — up 7.5% in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. Like I have often said, professional grifters have plagued the housing sector for many years and shouldn’t be looked to as fundamental economic sources of information.
Despite low inventory and increasing affordability concerns, both pending home sales and existing home sales jumped in October, according to the National Association of Realtors (NAR). Though the market remains strong and sales is on pace for its strongest sales in 15 years, higher home prices continue to price out first-time and young buyers. The Pending Home Sales Index (PHSI).
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.
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. Collecting data from paper forms can be a huge administrative burden and lead to lengthy processing times and incorrect data.
loanDepot Inc. has closed Mello Mortgage Capital Acceptance 2021-INV4, a $371 million securitization of agency-eligible mortgages secured by residential investment properties, originated through its retail and partner channels. Year-to-date, loanDepot entities have sponsored over $2.8 billion in private-label residential mortgage-backed securities (PLS) across seven transactions.
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. During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019.
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% higher than a year ago. Spending on single-family, multifamily constructions and improvements all declined in October, as homebuilding is still facing.
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.
…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. Having said that, there is ZERO percentage or benefit for any appraiser to engage in it.
One economist stated, “Builders in recent months have put the pedal to the metal to get new homes up and meet a rush of demand. The post Building Permits Boom—Will the Market Finally See Inventory Relief? appeared first on theMReport.com. The post Building Permits Boom—Will the Market Finally See Inventory Relief? appeared first on Appraisal Buzz.
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%. Job reports can be wild, and we often have two to three reports per year that miss estimates badly.
In September, national home prices grew at a slower but still unsustainable pace. Locally, 14 out of 20 metro areas reported that they realized a deceleration in home price growth in September. This month’s data indicates that housing market is cooling slightly as housing affordability concerns persist. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow.
Learn how GoFormz can digitize your child care enrollment forms for instant access to documents and faster response times By taking your child care enrollment paper forms digital, you can streamline operations, reach new clientele, and improve your overall data collection and processing. The GoFormz platform offers form sharing, also referred to as GoFormz’s Public Forms feature, which enables your team to easily access submitted forms from potential customers and respond accordingly.
An industry report breaks down trends and changes regarding Q3 profitability for Independent mortgage banks and mortgage subsidiaries of chartered banks. Here’s what the report found. The post IMB Data Shows Significant Profit Increases appeared first on DSNews. The post IMB Data Shows Significant Profit Increases appeared first on Appraisal Buzz.
The supply-chain bottleneck afflicting the global economy has its own counterpart in the world of residential mortgage-backed securities, also referred to as RMBS. One group of industry players — loan underwriters — are the chief cause of the logjam. They are in high demand for each stage of the mortgage process, yet they are in seriously short supply in a still-booming mortgage market.
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 increase in the labor force participation rate indicates that more people are returning to the labor force, a necessary requirement for additional hiring. Construction industry employment (both residential and non-residential) totaled 7.5.
Explore how GoFormz digitally transforms healthcare operations and streamlines claim processing from end-to-end HIPAA-secure digital forms significantly accelerate the traditional delays experienced during the patient claims process, including long wait times, delayed responses, and more. This is made possible by the real-time nature of digital forms, allowing providers and patients the ability to complete, review, and process forms directly from their mobile devices or computer.
According to a report, “Net production profit rebounded in the third quarter of 2021 after a drop-off in the second quarter, but was down more than half from the record profit one year ago.” The post Production Profits Increase for IMBs in Late 2021 appeared first on theMReport.com. The post Production Profits Increase for IMBs in Late 2021 appeared first on Appraisal Buzz.
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. A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the report published on Thursday. Mortgage rates are in a historical low level, but the expectation is that they will increase in the coming months due to higher interest rates.
Nonfarm payroll employment increased in 47 states and the District of Columbia in October compared to the previous month while three states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 531,000 in October, following an upwardly revised increase of 312,000 jobs in September. On a month-over-month basis, employment data was strong in.
The Connection to Mental Health and Your Living Space The places that you spend the most time have a serious impact on your mental health and wellbeing. Multiple studies have shown the connections between living spaces and the effects on mental health through how a room is furnished, the size of the living space, and whether or not you live alone or with others.
Several developments are converging on the global economy and financial markets at the moment. Each brings its own causes for concern. Together, they bring a significant increase in volatility. Should we be worried about Omicron? Answering such questions is beyond the scope of this newsletter. What we can say is that the financial market is clearly asking itself this question and the effects are obvious.
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. In fact, companies are not only injecting new technology into the home-buying buying process, but also, they are pushing the envelope when it comes to how technology can disrupt the consumer experience, regardless of the industry.
Residential construction loan volume reached a post-Great Recession high during the third quarter, as home building activity continued to expand in 2021. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 6% during the third quarter. The volume of loans increased by $4.9 billion for the quarter. This loan volume expansion placed the total stock.
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.
All signs point to a house building boom as the number of building permits that were created this summer reached 1.69 million, well above the 1.5 million mark at which Zillow says indicates a boom. The number of building permits are issued gives the market an idea of how new home construction is coming along, and currently, the momentum that home builders are operating at … The post Building Permits Boom appeared first on theMReport.com.
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