Housing Wire
SEPTEMBER 2, 2022
The Impact Shares Affordable Housing MBS ETF, also known as OWNS, is an exchange-traded fund with the ambitious mission of seeking to tap the capital markets to address long-standing affordable-housing and racial-wealth gap issues in U.S. society. Since its inception last summer, OWNS has focused on investing in agency mortgage-backed securities (MBS) that are collateralized by custom-created mortgage pools.
Sacramento Appraisal Blog
AUGUST 29, 2022
The housing market went from steaming to stagnant a few months ago, and now that some time has passed, we’re getting more stats to help show the effect of higher mortgage rates. Today let’s look at sales volume to understand what’s going on. I have a free download too for anyone wanting to make visuals […].
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Cleveland Appraisal Blog
SEPTEMBER 2, 2022
Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison Approach, the Cost Approach, and the Income Approach. The Sales Comparison approach, as the name implies, compares the property being appraised to other properties that a potential buyer might consider as a substitute for buying the property being appraised.
Appraisal Buzz
SEPTEMBER 2, 2022
Millennials who took on a new rental lease in July saw their overall cost of goods and services increase 11.6% year over year, substantially higher than 8.5% for the U.S. population as a whole. The personal inflation rate for Gen Z renters taking on a new lease came nearly as high at 11.3%, according to … The post Study Finds Inflation More Severe for Younger Renters appeared first on DSNews.
Housing Wire
SEPTEMBER 2, 2022
Loan originator and servicer Sun West Mortgage Co. Inc. has unveiled the latest version of its proprietary artificial-intelligence (AI) platform, called Morgan, which enables the lender to convert pre-approved, property-specific home loans into tradable non-fungible tokens (NFTs). The NFT is property agnostic, backed by real dollars and guaranteed by Sun West , which is one of the largest nonbank mortgage companies in the country, licensed in 48 states with a network of some 80 retail branches.
George Dell
AUGUST 31, 2022
The transaction zone is a range within which a sale price might occur. Yet our definitions of value nearly all define a “most probable” price. In prior issues, we have discussed how vintage appraisal practice is vulnerable to accusations of bias. The “appraisal process” is most vulnerable at the beginning of the analysis, wherein “good […]. The post Bias in the (Transaction) Zone?
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Appraisal Buzz
SEPTEMBER 2, 2022
As part of September’s Five Star Conference in Dallas, the Property Preservation Lab brings together individuals discussing the challenges currently faced, while offering solutions to continue the prevention of urban blight. The post Property Preservation Experts to Meet at Upcoming Five Star Conference appeared first on DSNews. The post Property Preservation Experts to Meet at Upcoming Five Star Conference appeared first on Appraisal Buzz.
Housing Wire
AUGUST 29, 2022
Inflation slowed more than expected in July , the result of a dip in gas and energy prices. But soaring housing costs continue to weigh heavily on family budgets. Rents and home purchase prices are up – 17% and 20% respectively – from last year. It seems as if every day there is yet another news story highlighting how so many families are suffering under crushing housing costs.
Eyes on Housing
AUGUST 30, 2022
Home price growth decelerated in June and home prices grew at a single-digit annual rate for the first time in the past 23 months. As housing demand is softening, with declines for existing home sales and new home sales and weakened single-family starts, home price growth is expected to slow. In July, all the 20 metro areas experienced significant deceleration.
Appraiserblogs
SEPTEMBER 2, 2022
Claims of tainted appraisal unmask something else… the renewed “churning” of mortgages by nonbank lenders. Convinced racism torpedoed valuations in their home refinancings, the owners of three properties in the San Francisco Bay Area told their stories to Julian Glover, a reporter who covers the race, culture and social justice beat for ABC’s San Francisco affiliate.
Appraisal Buzz
SEPTEMBER 1, 2022
Realtor.com’s latest housing data release for August reveals that listing prices decelerated for the third month in a row, as more sellers hit pause on listing homes and homes for sale spent more time on the market than last August. While fewer new listings are entering the market, overall inventory continues to grow, providing more … The post Market Trends: More Sellers Become Hesitant to List Homes appeared first on DSNews.
Housing Wire
SEPTEMBER 2, 2022
Homepoint laid off more than 100 employees this week as it feels the effects of the price war in the wholesale lending space. The company confirmed workforce reductions on Wednesday and Thursday are in line with the company’s “openness to get smaller as an organization to effectively counter severe market pressures,” according to a spokesperson on Thursday.
Eyes on Housing
AUGUST 31, 2022
Non-real estate consumer credit grew at a seasonal adjusted annual rate (SAAR) of 8.7% in the second quarter of 2022 according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt climbed 14.6% (SAAR), double the increase in nonrevolving debt (+6.9%). Total consumer credit currently stands at $4.6 trillion, with $1.1 trillion in revolving debt and $3.5 trillion in.
DW Slater Company
AUGUST 31, 2022
“It is almost impossible to watch a sunset and not dream.” – Bernard Williams. We recently had an extended trip to send our son off to college in Colorado. When we returned I snapped this photo of Lake Ray Roberts as we were arriving in our hometown. It was so peaceful. I was thankful to be home and excited for his future. It symbolized a sunset in this part of my life, as this kid was now launched.
Appraisal Buzz
AUGUST 31, 2022
As the industry makes strides to increase homeownership for marginalized individuals, the mortgage finance space must keep pace to meet the needs of this group by enhancing its DEI efforts. The post Reflecting the Communities We Serve appeared first on DSNews. The post Reflecting the Communities We Serve appeared first on Appraisal Buzz.
Housing Wire
SEPTEMBER 2, 2022
Atlanta-based AmeriSave Mortgage Corp. exited the wholesale channel this week, a decision that comes after the mortgage lender has imposed rounds of layoffs across the company, according to former employees and business partners. . HousingWire sent multiple requests to the company’s leadership for comments, but they did not respond. This week, brokers received a message stating that AmeriSave Wholesale Mortgage Solutions (AWMS), the company’s wholesale channel, is closing doors imme
Eyes on Housing
SEPTEMBER 1, 2022
Private residential construction spending declined further in July, as rising mortgage rates and elevated construction costs put a damper on the market. It fell 1.5% in July, down for the second straight month, according to NAHB’s analysis of the Census Construction Spending data. Private residential construction spending was 14.1% higher year-over-year.
McKissock
AUGUST 29, 2022
Some of the best real estate agents in the business today know how important it can be to go outside your comfort zone in order to keep — and retain — profitable clients. Getting stuck in a rut with the same strategies that only bring you moderate success isn’t the best way to earn more. Instead, challenge yourself to get comfortable with being awkward and taking chances.
Appraisal Buzz
AUGUST 31, 2022
Freddie Mac’s Single-Family business announced that its Credit Risk Transfer (CRT) program reported Q2 2022 CRT issuance of approximately $6.5 billion, protecting approximately $151 billion in unpaid principal balance (UPB) of single-family mortgages. The final total was a record for a second quarter. In addition, record first half 2022 issuances totaled nearly $15 billion, protecting $358 billion … The post Freddie Mac CRT Produces Record First Half of Year appeared first on DSNews.
Housing Wire
SEPTEMBER 2, 2022
Even in the midst of a housing recession , job growth remains strong. August total nonfarm payroll employment rose by 315,000 jobs from the month prior , according to data released Friday by the Bureau of Labor Statistics. After this latest job gain, employment is now 240,000 higher than its pre-pandemic level. Despite this gain, the unemployment rate rose by 0.2 percentage points to 3.7%, as the number of unemployed persons rose to 6.0 million.
Eyes on Housing
AUGUST 30, 2022
The construction labor market is cooling off as economic activity slows in response to tighter monetary policy. However, the July data shows stability concerning the number of open, unfilled jobs in the construction industry. This trend will likely weaken during the second half of 2022 due to the policy decisions by the Federal Reserve. The count of open construction jobs.
McKissock
AUGUST 30, 2022
There’s no simple and easy way to deal with appraisal pressure. A major source of frustration for appraisers is the realization that clients do not have to follow USPAP. The ethical and performance requirements of USPAP apply only to appraisers, not to clients. In other words, USPAP doesn’t prohibit a mortgage broker from calling and asking you to develop an appraisal based on a predetermined value, but USPAP does prohibit you from accepting that assignment.
Appraisal Buzz
AUGUST 31, 2022
Today’s Buzzcast interview is with Eric Tsai, Cofounder and CEO of Asteroom. We sat down with Eric and Joan Trice, Founder of Allterra Group, LLC, to discuss how technology is changing things for appraisers in the near future. What are some examples of the new technology helping appraisers today? How is Asteroom changing the game in the appraisal industry?
Housing Wire
AUGUST 30, 2022
Add mortgage lender Mountain West Financial to the list of victims of the price war in the wholesale channel. The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. Founded in 1990, Mountain will continue to serve retail and consumer direct clients throughout the Western United States.
Eyes on Housing
AUGUST 29, 2022
Private fixed investment in student dormitories declined 4.4% to a seasonally adjusted annual rate (SAAR) of $3.2 billion in the second quarter of 2021, according to the data released by Bureau of Economic Analysis. Private fixed investment in dorms was 12.7% higher than a year ago, but 29% below the pre-pandemic level. Private fixed investment in student housing experienced a.
Raleigh Realty
SEPTEMBER 2, 2022
Are you thinking of buying a home in North Carolina? If so, you'll want to be aware of the closing costs involved. Closing costs are the fees and expenses that you pay when you purchase a home, so it's important to know what to expect before you begin the home buying process. In this comprehensive guide to closing costs in North Carolina, you’ll learn exactly how much you can expect to pay and what these closing costs cover.
Appraisal Buzz
AUGUST 30, 2022
According to a new Realtor.com survey, some 92% of people who sold their home within the last year accepted some buyer-friendly terms, and approximately 41% accepted some contingencies in the contract. Additionally, among those surveyed, the number of buyers asking for repairs based on the inspection results more than doubled in recent months and the number … The post Changing Needs Motivating Home Sellers appeared first on DSNews.
Housing Wire
AUGUST 30, 2022
The Prestwick Mortgage Group , an Alexandria, Virginia-based advisory and brokerage firm, has unveiled a mortgage-servicing rights (MSR) offering for a $598 million package of Fannie Mae and Freddie Mac loans. Prestwick’s offering comes on the heels of a separate bulk offering announced recently by New York-based Mortgage Industry Advisory Group (MIAC) that involves an MSR offering for a package of Fannie Mae loans.
Eyes on Housing
SEPTEMBER 2, 2022
Job growth remained solid in August, with 315,000 net job growth. However, the unemployment rate rose 0.2 percentage points to 3.7% in August, as the labor market participation rate expanded. “Softer labor market conditions” are expected in the near future as the Fed raises interest rates aggressively into 2023 to bring inflation lower. The headline job number of today’s labor.
Empire Appraisal Group
SEPTEMBER 1, 2022
Calif. vs. Fla. in Fight for ‘Digital Nomads’. If permanent work-from-home employees can move wherever they want, where do they go? According to Airbnb, Fla. is one of the top two destinations. NEW YORK – Some U.S. workers never have to go back to the office after their temporary remote work during COVID-19 lockdowns became permanent. And many are embracing the ability to work from anywhere, booking spaces across the country to use as temporary offices and homes.
Appraisal Buzz
AUGUST 30, 2022
New program will fund endeavors to make safety and functional home modification repairs and renovations to meet the needs of low-income elderly homeowners. The post HUD Pledges $15 Million to Assist the Elderly appeared first on DSNews. The post HUD Pledges $15 Million to Assist the Elderly appeared first on Appraisal Buzz.
Housing Wire
AUGUST 29, 2022
Rocket Companies , the parent company of Rocket Mortgage , extended the second round of voluntary career transition offers to employees amid the company’s forecast of much lower origination volume in the third quarter. . “We recognize career growth options in certain areas of our business are limited right now, while the housing market normalizes following two years of unprecedented volume,” said Mike Malloy, chief administrative officer for Rocket Central.
Eyes on Housing
AUGUST 29, 2022
According to the annual data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2021 (28 percent), followed by vinyl siding (24 percent), fiber cement siding (such as Hardiplank or Hardiboard (23 percent) and, brick or brick veneer (19 percent). Far smaller shares of single-family homes started last year.
GoForrmz
SEPTEMBER 1, 2022
Why employee engagement is key to a company’s success The importance of employee engagement cannot be overstated. High employee engagement has been proven to reduce employee turnover, improve productivity, and deliver higher profits. Engaged employees also show greater commitment to a company’s values and goals. For the modern workforce, an engaging work environment is expected.
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