Housing Wire

FEBRUARY 17, 2022

Potential homebuyers seeking Freddie Mac -backed mortgages will no longer have to hunt for paper pay stubs to verify their income. Freddie Mac announced on Wednesday that it will roll out an automated process that allows mortgage lenders to assess a prospective homebuyer’s direct deposit income. Freddie Mac claims this would reduce the paper documentation burden on borrowers, speed loan closing and simplify the lending process.

Lending 541

Lending Mortgage Clients Business 541

Appraisal Buzz

FEBRUARY 18, 2022

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for January 2022 shows mortgage applications for new home purchases decreased 12.5% compared from a year ago. Compared to December 2021, applications increased by 10%. This change does not include any adjustment for typical seasonal patterns. “Purchase applications for new homes fell on an annual basis in January, but the 10 percent monthly gain is a positive sign to start the year.

Mortgage 370

Mortgage Appraisal 370

Sacramento Appraisal Blog

FEBRUARY 15, 2022

There are lots of big questions in life. Are you playing Wordle? Did you like the Super Bowl halftime show? And what are rising mortgage rates going to do to the housing market? Let’s talk about this. Okay, really quick. Yes, I play Wordle almost every day. And yes, I liked the halftime show. What […].

Mortgage 355

Mortgage Housing Market Marketing Appraisal 355

Eyes on Housing

FEBRUARY 15, 2022

The prices of goods used in residential construction ex-energy climbed 3.6% in January (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index was led higher by a 25.4% jump in softwood lumber prices and 9.0% price increases for indoor and outdoor paint. Building materials prices increased 20.3%, year-over-year, and have.

Construction 202

Construction 202

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

FEBRUARY 18, 2022

The National Association of Realtors reported that existing home sales for January came in as a big beat at 6.5 million. This is well above my peak sales ranges for 2022, as the sales trend forecast was between 5.74 million and 6.16 million. So, we have started the year off on a stronger-than-expected note. I believe there might have been some spillover demand from December into January as the December number came in lighter than expected.

Inventory 483

Inventory Housing Market Buyers Investors 483

George Dell

FEBRUARY 16, 2022

Some form of Universal Valuation Standards (UVS)© appears to be one way to resolve the multiple issues we see today. Our most recent series focused on the obsolescence of the traditional appraisal process. The primary cause of the obsolescence is the shift from subjective onesey-threesy methods of picking comps – to immediate electronic download of […].

Appraisal Process 195

Appraisal Process Valuation Appraisal 195

The Appraiser Coach

FEBRUARY 15, 2022

Every Sunday evening at 8 pm I get a notification on my phone that says “Don’t forget your big 3!” What are the big 3? The big 3 are weekly. Read More.

Advertising 195

Advertising Inspection Business Government 195

Housing Wire

FEBRUARY 17, 2022

The average 30-year-fixed rate mortgage climbed to 3.92% for the week ending Feb. 17, up 23 basis points from the previous week. It’s the highest level since May 2019, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.81%. The PMMS report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.

Mortgage 448

Mortgage 448

Appraisal Buzz

FEBRUARY 18, 2022

Households are resorting to non-traditional sources of income to meet financial obligations during the pandemic in a time when many fell behind on their payments. The post Renters Struggling to Stay Afloat appeared first on DSNews. The post Renters Struggling to Stay Afloat appeared first on Appraisal Buzz.

Appraisal 284

Appraisal 284

Advertiser: Trellis

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.

Real Estate

Eyes on Housing

FEBRUARY 18, 2022

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction jumped 28.1% in 2021. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020. However, demand for medium density neighborhoods returned as the economy more fully reopened during.

Construction 192

Construction Design 192

Appraiserblogs

FEBRUARY 18, 2022

I can and will decline to do any of these Catch-22 Fraud facilitating misleading products promoted by a GSE… There are many legitimate times and reasons a desktop appraisal may be performed. In every single one of them, it is assignment specific based on the assignment specific needs of the client with a mutually agreed upon scope of work between the client and the appraiser.

Clients 146

Clients Appraisal 146

Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% from the prior month to a seasonally adjusted annual rate of 6.5 million. January sales fell 2.3% from a year earlier, though the median existing-home price rose 15.4% annually to $350,000, according to the Friday report from the National Association of Realtors.

Supply Chain 435

Supply Chain Inventory Buyers Contracts 435

Appraisal Buzz

FEBRUARY 18, 2022

Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed, according to a new report from Redfin. People buying homes now are paying more than ever before, too – a median $1,997 per month – as asking prices soared 16% year over year to a new high, and mortgage rates shot up to their.

Contracts 284

Contracts Housing Market Marketing Appraisal 284

Eyes on Housing

FEBRUARY 16, 2022

Despite strong buyer demand, builder sentiment continued to slip in February as the industry grapples with ongoing building material production bottlenecks that are raising construction costs and delaying projects. Builder confidence in the market for newly built single-family homes moved one point lower to 82 in February, marking the second straight month that confidence levels have declined by a single.

Construction 190

Construction Buyers Marketing 190

GoForrmz

FEBRUARY 17, 2022

Revamp your business processes with workflow automation Equipping your team with process automation will improve your productivity and efficiency across your business organization. Manual tasks like scanning and uploading paper documents can be mundane and time-consuming for your staff. One of the most powerful aspects of GoFormz mobile forms is the ability to automate processes like dispatching pre-filled forms to field workers, emailing supervisors completed mobile forms, automatically running

Project Management 146

Project Management Business Tools 146

Housing Wire

FEBRUARY 17, 2022

On Thursday, the U.S. Census Bureau reported that housing permits came in at an excellent print at 1,899,000 , surprising me. Then I took a look at housing completions at 1,246,000, and it reminded me of the sad state of the housing market. We have the demand — we just don’t have the supply. Global pandemics have always created short-term shortages due to a lack of production capacity.

Construction 429

Construction Housing Market Inventory Marketing 429

Appraisal Buzz

FEBRUARY 18, 2022

FormFree ’s AccountChek digital asset verification service is supporting a Freddie Mac solution that allows mortgage lenders to assess a prospective homebuyer’s income using direct deposit data. Available to mortgage lenders nationwide, Freddie Mac’s Loan Product Advisor (LPASM) asset and income modeler (AIM) solution fulfills mortgage verification of assets (VOA) and verification of income (VOI) requirements.

Appraisal 195

Appraisal Mortgage 195

Eyes on Housing

FEBRUARY 14, 2022

NAHB recently released its 2022 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 87.5 million households (roughly 69 percent of all U.S. households) are not able to afford a new median priced new home in 2022, meaning their incomes are insufficient to qualify for a mortgage under standard underwriting criteria. .

Mortgage 188

Mortgage 188

GoForrmz

FEBRUARY 16, 2022

See why GoFormz is the right mobile forms solution for your data capture needs While there are various reasons GoFormz is the right digital data capture platform for your operation, here are five reasons you should harness the power of GoFormz for your data capture and documentation needs Maintain document formatting GoFormz holds multiple patents on its digitization technology, including a method that preserves the look and feel of your original paper forms.

Training 141

Training Design Technology Business 141

Housing Wire

FEBRUARY 18, 2022

Mortgage applications for new homes stalled in January, dipping by 12.5% year-over-year, according to a Mortgage Bankers Association ’s survey published this week. The trade group noted that the survey results showed the slowest annual pace since July 2021. However, from December 2021 to January, purchase applications grew, with a 10% month-over-month gain recorded by MBA’s survey.

Supply Chain 419

Supply Chain Development Mortgage Marketing 419

Appraisal Buzz

FEBRUARY 18, 2022

Existing-home sales rose in January, making a notable move upward following a previous month where sales declined, according to the National Association of Realtors. On a month-over-month basis, each of the four major U.S. regions experienced an increase in sales in January. However, year-over-year, activity was mixed as two regions reported sagging sales, another watched sales increase and a fourth region remained flat.

Realtors 195

Realtors Appraisal 195

Eyes on Housing

FEBRUARY 15, 2022

For 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 1,111,414. On a year-over-year (YoY) basis, this is a 13.7% increase over the December 2020 level of 977,863. Year-to-date ending in December, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 15.9%, followed by the South (+15.2%), the Midwest (+11.2%), and.

Construction 187

Construction Marketing 187

Appraiserblogs

FEBRUARY 17, 2022

Why is the ASB proposing to remove the definition of Personal Inspection? Several days ago, an appraiser posted the following comment which we have decided to publish as a free-standing post because we believe it deserves attention: Amazingly, while these are horrible – everyone seems to miss the real issue that will hit us all in 2023. As of 2023, if the ASB gets its way in a few weeks, the word “inspection” or “personal inspection” will no longer be defined in USPAP.

Inspection 138

Inspection Appraisal Clients 138

Housing Wire

FEBRUARY 18, 2022

You can’t please all the people all of the time, but Redfin is a unique real estate brokerage , an instant homebuyer, a popular listings website, a platform for renters, a mortgage company, a title company, a concierge service, and a research service on the U.S. housing market. What does that all add up to? A company that posted a $110 million dollar loss in 2021, a sextuple leap from the $19 million lost in 2020.

Brokerage 409

Brokerage Real Estate Investors Technology 409

Appraisal Buzz

FEBRUARY 17, 2022

Housing starts in January were at a seasonally adjusted annual rate of 1.638 million, a decrease of 4.1% compared with December but up 0.8% compared with January 2021, according to the U.S. Census Bureau and U.S. Department of Housing and Urban Development. Starts of single-family homes were at a rate of 1.116 million, a decrease of 5.6% compared with December.

Supply Chain 195

Supply Chain Development Appraisal 195

Eyes on Housing

FEBRUARY 17, 2022

The number of single-family built-for-rent (SFBFR) construction starts increased almost 16% in 2021, after a record-breaking third quarter for production. The SFBFR market is a way to add inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when a growing number of people want more space and a single-family structure.

Construction 165

Construction Inventory Marketing 165

GoForrmz

FEBRUARY 15, 2022

Improve your organization’s communication barriers with these collaboration tools Collaboration between departments can be a challenge if your organization is not equipped with the necessary tools to be successful. Workflow automation tools such as digital form software and project management tools empower your team to work together. When it comes to team communication, your organization needs digital form software with collaboration features that are easy to use and adaptable.

Business 137

Business Project Management Tools 137

Housing Wire

FEBRUARY 16, 2022

In today’s competitive real estate market, an increasing number of real estate investors are turning to private money lenders to help them close deals faster, enhance property valuations, and increase their returns. The problem with private money lenders is that good ones are hard to come by. Let’s look at what private money lenders do and how they operate, as well as the potential benefits of using private or hard money loans and how to locate and select a reputable private money le

Real Estate 397

Real Estate Investing Investors Renovations 397

Appraisal Buzz

FEBRUARY 17, 2022

Kim Weaver has joined Paradatec Inc. , a provider of AI-based document classification and data extraction technology for mortgage loan processing, as director, product strategy. Weaver has more than 25 years of experience in the financial services industry, with a focus on mortgage and consumer lending. She spent 15 years at Fiserv where she held senior roles in product management, product strategy and client delivery.

Technology 195

Technology Lending Clients Appraisal 195

Eyes on Housing

FEBRUARY 17, 2022

In the fourth quarter of 2021, effective interest rates decreased on all four categories of loans tracked in NAHB’s Survey on Acquisition, Development & Construction (AD&C) financing. The average effective rate (based on rate of return to the lender over the assumed life of the loan taking both the contract interest rate and initial fee into account) decreased from 6.50.

Development 151

Development Construction Contracts Finance 151

GoForrmz

FEBRUARY 14, 2022

Leverage these three GoFormz integrations for powerful data entry automation Digital automation is a critical asset to any business processing data. Pairing your digital forms app with seamless automation tools allows users the ability to extract and collect data in real-time, and garner actionable insights from that data. GoFormz is your one-stop-shop for all things automation, empowering your business to eliminate time-consuming manual daily work while maintaining a high level of quality and a

Construction 130

Construction Business Tools Clients 130

Housing Wire

FEBRUARY 15, 2022

Fannie Mae reported its overall net income increased in 2021 to $22.2 billion, an increase of $10.4 billion compared to 2020, largely due to the growth of its single-family business. Net revenue increased $4.6 billion to $29.9 billion in 2021, mostly driven by higher guaranty fee income, including that generated by the 50 basis point adverse market fee on most agency refinances.

Finance 395

Finance Business Technology Housing Market 395