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On Thursday, the Bureau of Labor Statistics reported the same trend that all Americans have seen lately: the inflation rate of growth is rampant and doesn’t show any sign of easing up due to the Russian Invasion of Ukraine. The Consumer Price Index for all Urban Consumers “increased 0.8 percent in February on a seasonally adjusted basis after rising 0.6 percent in January… Over the last 12 months, the all items index increased 7.9 percent before seasonal adjustment.” As you can
Freakish price growth? Yes. That’s exactly what we’ve been seeing. Here we are again with what feels like a carbon copy of last year, which was our most aggressive market ever. In short, 2022 is doing its best to crush 2021. Let’s talk stats and perspective. I’d love to hear your take. UPCOMING PUBLIC SPEAKING […].
Is there a career with more inherent paradoxes than real estate appraising? It’s a highly social profession – and yet it’s solitary. Every appraisal decision we come to requires lots of verified data – but also our intuition and opinions. Our calendar fills up with orders when the real estate market heats up. But when the market nosedives, lenders need to reassess their portfolios – so, again, our calendar fills up with orders.
The conditions of the market, in real estate, means the relationship between supply and demand. Supply and demand issues (at a point in time) are particularly important for new construction. In such cases, forecasting may also be important where build-out and rent-up times affect value. For existing properties, like houses, it seems much simpler, as […].
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.
February 10 may go down as a momentous day in real estate history. That’s when a 70-year-old brick home in the St. Petersburg, Florida suburb of Gulfport sold for the equivalent of $654,310, where the asset exchanged was represented by a non-fungible token. Worldwide sales of non-fungible tokens, better known – of course – as NFTs, catapulted from $94.9 million in 2020 to $24.9 billion in 2021, according to an analysis of 10 different blockchain ledgers by DappRadar.
The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs increased for the month to 380,000 unfilled positions in January. The highest measure in the history of the data series (going back to late 2000) was 416,000 in April 2019. The housing market remains underbuilt and requires.
The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs increased for the month to 380,000 unfilled positions in January. The highest measure in the history of the data series (going back to late 2000) was 416,000 in April 2019. The housing market remains underbuilt and requires.
Advantage Systems , a provider of accounting and financial management tools for the mortgage industry, announced that LoanSnap Inc. has selected and implemented its mortgage accounting automation solution, Accounting for Mortgage Bankers (AMB), including the AMB Sierra dashboard and reporting capabilities for both branch users and executives. LoanSnap has been growing rapidly and needed a scalable accounting system that could keep pace with its growth.
People are people. Whether you’re from a small town in South Dakota, a big city in Europe, or living in a mud hut in Africa, we all have at least. Read More.
Lenders One Cooperative announced on Monday that it has struck a deal to lease retail space in Walmart stores to sell mortgage products and services. The cooperative inked a deal for space at three Walmart locations, but said there are “many more opportunities to come.” Lenders One will be selling purchase, refinance and home equity products at its “store-in-store” branch locations.
New data show that landlords are increasing rental prices and instituting stricter screening criteria for renters, indicating a bleak rental market outlook for years to come.
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.
Incenter LLC has added Edgemac to its family of 11 companies. Founded in 2006, Edgemac helps investors, originators and other industry participants evaluate loan quality so they can make informed risk management decisions when buying, selling or securitizing mortgages. The company offers loan file due diligence and related document management services to support the closing, purchase, sale and securitization of residential and business-purpose mortgage loans.
New NAHB 2022 Priced-Out Estimates showed that 87.5 million households are not able to afford a median priced new home, and that additional 117,932 households would be priced out of the new home market if the price goes up by $1,000. This post presents how interest rates affect the number of households that would be priced out of the new.
Pink slips will arrive for 3,000 employees of Better.com, the mortgage lender that received a mountain of bad press three months ago when its CEO, Vishal Garg, fired 900 workers via Zoom and chastised their work ethic to remaining employees. . The new round of layoffs reaches 35% of Better.com’s staff and hits workers in the United States and in India, according to a person familiar with the lender’s decision.
What is International Women’s Day? Today is International Women’s Day! This day was founded in 1910. It was Clara Zetkin, an advocate for women’s rights, suggested the creation of an international women’s day. This idea was shared at the International Conference of Working Women in Copenhagen in 1910 – and the 100 women there, from 17 countries, agreed to it unanimously.
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.
This month marks the two-year anniversary of the coronavirus pandemic, which the World Health Organization officially declared on March 11, 2020. According to a new report from Redfin, the housing market has changed drastically as there are now half as many homes to choose from, as prices increased 34%. Overall, the number of homes on … The post Share of Homes Selling Above List Price Doubles appeared first on DSNews.
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in 2021, the aggregate market value of all owner-occupied real estate in the United States experienced the largest quarterly increase on record. From $36.8 trillion in the third quarter of 2021, the value of owner-occupied real estate increased by.
From 2010 to 2020, middle-income households gained $2.1 trillion in housing wealth, according to a new study by the National Association of Realtors , released on Wednesday. NAR’s Housing Wealth Gains for the Rising Middle-Class Markets study examined the distribution of housing wealth between 2010 and 2020 across income groups in 917 metropolitan and micropolitan areas.
Transform your bookkeeping processes by switching to online forms Keeping records organized and up to date is critical for your business operations. With paper forms, your team is left scrambling over disorganized and messy documents. When companies switch to mobile forms for their data collection and storage, they can rely less on manual re-keying of data into systems like Microsoft Excel.
After two full years, the COVID-19 pandemic has done a number on the U.S. housing market. Congresswoman Maxine Waters has announced plans to propose federal legislation designed to reduce the racial gap in home appraisals. After a week of declines, mortgage rates are back on the rise. With the new Fannie Mae and Freddie Mac desktop appraisal option going live this month, McKissock Learning has released an updated CE course to reflect the new.
Consumer prices continued to break 40-year highs in February due to higher food, gasoline and housing costs. This was the largest year-over-year gain since January 1982. This pace of inflation will likely stay high in the months ahead as Russia-Ukraine crisis continues drive up oil and commodity prices. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index.
How much does a typical low-income first-time homebuyer with a Fannie Mae -backed mortgage bring to the closing table? According to Fannie Mae , in a working paper entitled “ Mortgage costs as a share of housing costs—placing the cost of credit in broader context ,” the average low-income, first-time homebuyer has about $28,000 for a down payment.
Sometimes it seems as if crystal ball predictions are as much a Q1 tradition as an end-of-year seasonal cheer. While it’s true that writing an outlook on the year ahead has become part of the ritual for many companies, such outlooks are, in fact, valuable. It is especially true if said previews are based in reality and not on the wish lists of what executives would like to see.
Wolters Kluwer Governance, Risk & Compliance (GRC), has signed an agreement with the Reynolds and Reynolds Company to acquire International Document Services, Inc. (IDS), for an estimated $70 million in cash?—where IDS will become an essential component of GRC’s Compliance Solutions business. The acquisition builds on GRC’s existing leadership in digital loan compliance, with end-to-end capabilities … The post Wolters Kluwer, Reynolds and Reynolds Partner to Acquire IDS appeared first
Per the latest results of NAHB’s Home Building Geography Index (HBGI), single-family home building showed higher growth rates across all regional submarkets in the fourth quarter of 2021, relative to the fourth quarter of 2020. Quarterly growth, however, trended downwards for all regions in the third and fourth quarters of 2021. Supply-side constraints and expectations of rising interest rates, particularly.
Mortgage rates have been all over the place lately. They rose this week, reflecting the volatility of the U.S. economy brought by inflation and Russia’s war in Ukraine. The average 30-year-fixed rate mortgage increased to 3.85% for the week ending March 10, up from 3.76% in the previous week, according to the latest Freddie Mac PMMS Mortgage Survey.
The study also shows the appraisal was the LOWEST scored item on the list of discriminatory practices… On February 23, 2022, NAR published the “2022 Snapshot of Race and Home Buying in America” report. The study examines homeownership trends and challenges by race and location to explain current racial disparities in the housing market. Using data from the 2021 Profile of Home Buyers and Sellers, the report looks at the characteristics of who purchases homes, why they purchase, what they purchas
Continuing a quarterly survey of mortgage executives that initially started in 2014, Fannie Mae has published its latest Mortgage Lender Sentiment Survey for the first quarter of 2022 finding that lenders are becoming increasingly bearish due to current market conditions. The survey, which was conducted during the first two weeks of February polling 200 senior … The post Lenders Appear to be More Bearish in Recent Survey appeared first on DSNews.
In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, underwent a series of weekly declines, but increased in the latest week by 8.5 percent. The latest week’s survey is for the week ending March 4. The latest week’s activity consisted of an 8.6 percent increase in purchasing and an 8.5 percent.
California-based Guild Mortgage can be added to the growing list of lenders with waning profitability. But Guild’s executives believe the retail lender is well positioned to succeed in a lower-volume environment, whether it’s organically or through acquisitions. The nonbank mortgage lender increased its total originations in 2021, despite a reduction in the fourth quarter.
Learn how digital forms can elevate your business operations to save you time and money. Now more than ever, businesses are prioritizing their team’s efficiency and productivity. As the world embraces digital transformation, the need for streamlined processes has never been more prevalent. For property managers, even reducing time spent completing a property contract or rental property agreement by 30 minutes per day per document can open the door for their management firm or business to take on
Today’s Buzzcast interview is with John Russell, Strategic Partnership Officer of the American Society of Appraisers (ASA). We sat down with John and Joan Trice, Founder of Allterra Group, LLC to discuss the what’s happening in the market as well as what’s going on with policy and congress. What are some of the changes happening within the industry?
New survey results show that renters with low incomes are having a hard time making their rental payments, but Emergency Rental Assistance funding isn’t reaching them quickly enough to prevent evictions.
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