Housing Wire
SEPTEMBER 13, 2022
The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we hadn’t had a period where mortgage rates moved up so quickly and then held higher for an extended period.
Sacramento Appraisal Blog
SEPTEMBER 14, 2022
Sellers have been chasing the ball down the road. What I mean is prices have been going down lately, and sellers are trying to find the market through price reductions. I can’t speak for the entire country, but I’d like to talk about what’s happening locally. I’m not writing as a housing bull or bear […].
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Eyes on Housing
SEPTEMBER 12, 2022
The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers.
Appraisal Buzz
SEPTEMBER 16, 2022
Fannie Mae has announced it has appointed Anthony Moon as Executive Vice President and Chief Risk Officer (CRO), effective starting in the fourth quarter 2022. In this role, Moon will be responsible for Fannie Mae’s Enterprise Risk Management, which oversees the company’s governance and strategy for global risk management. Moon will be a member of … The post Fannie Mae Onboards New Chief Risk Officer appeared first on DSNews.
Housing Wire
SEPTEMBER 16, 2022
The U.S. House of Representatives this week passed a bill that streamlines the appraisal process for U.S. Department of Veterans Affairs mortgage loans. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether.
George Dell
SEPTEMBER 14, 2022
What’s missing? Appraisal reform is focused on current ‘urgent’ issues. The problem is that some fundamental, underlying issues are not in focus! The concern is that it’s the underlying foundation that may be the core of the problem. Current (urgent) issues include: Bias: real and perceived Wide range of opinions of value Appraiser diversity: age […].
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
SEPTEMBER 16, 2022
A new report from LexisNexis Risk Solutions focusing on financial transparency and inclusion has found that among Americans, those most financially at risk are the “unbanked”—or those without a traditional bank account—and that increasing financial inclusion in a responsible and sustainable way can help these people grow financially. LexisNexis worked with Celnet in order to … The post Lack of Transparency Hinders the Unbanked appeared first on DSNews.
Housing Wire
SEPTEMBER 16, 2022
Wells Fargo will pay $94 million to settle a class-action lawsuit that argued it sent more than 200,000 mortgage borrowers into forbearance during the pandemic unlawfully and without their consent. The plaintiffs argued that the San Francisco-based bank provided forbearances to customers who made inquiries about their mortgages or expressed hardship, but had not explicitly requested forbearance, Reuters reported this week.
The Appraiser Coach
SEPTEMBER 13, 2022
A little over a year ago, I went on a vacation with my family to Glacier National Park. While we were there, we took everyone on a hike to St. Read More.
Cleveland Appraisal Blog
SEPTEMBER 10, 2022
Hello everyone! This week I welcome guest blogger Andrea Gibbs. In this article, she offers some tips on how to transition a loved one to senior living. I hope you find her tips to be helpful! Turning retirement from a dream into reality is not an easy feat for seniors. Many transitions and adjustments will take place, including moving away from family and friends, coping with new routines, and learning to manage the daily activities of life.
Appraisal Buzz
SEPTEMBER 14, 2022
As economic uncertainty continues amidst market turmoil and talks of recession, Fannie Mae Senior Vice President and Chief Economist Douglas G. Duncan predicts a modest recession, characterized by competing effects of inflation and a strong labor market. Duncan will deliver his 2023 economic outlook at a live event, Wednesday, Oct. 12 from 6 to 8 … The post Fannie Mae Chief to Receive Award for Forecast Accuracy appeared first on DSNews.
Housing Wire
SEPTEMBER 16, 2022
This week’s HW+ member spotlight features Rodney Moss, executive vice president at LoanCare. HW Media: What is your current favorite HW+ article and why? Rodney Moss: All my favorite articles in HousingWire revolve around servicing innovation – really anything and everything that can help improve the overall experience for homeowners and enhance an asset’s value.
Eyes on Housing
SEPTEMBER 12, 2022
Lot values for single-family detached housing starts in 2021 increased across the nation, with the national value and six out of nine Census division values setting new records. U.S. median lot price now stands at $55,000, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data.
GoForrmz
SEPTEMBER 16, 2022
GoFormz customers share their insights and success stories Teams across the globe and every industry rely on GoFormz. From small flower shops to massive construction firms, our platform is known for its intuitive interface, powerful capabilities, and incredible customer support – allowing businesses of any size and sector to digitize and optimize the way they work.
Appraisal Buzz
SEPTEMBER 14, 2022
Today’s Buzzcast interview is with Ed Pinto, Senior Fellow and Director of AEI Housing Center. We sat down with Ed and Joan Trice, Founder of Allterra Group, LLC, to discuss the housing market and the impact on appraisers. What are some tools available that appraisers can use to measure their housing market? What is the monetary punch bowl? These questions and much more will be answered between Ed and Joan as they dive into this subject.
Housing Wire
SEPTEMBER 10, 2022
Freddie Mac is unveiling its ninth credit-risk transfer transaction of the year via its Structured Agency Credit Risk (STACR) program — bringing the total note offerings through its two flagship STACR series programs to $12.2 billion so far in 2022. This agency’s most recent credit risk transfer (CRT) offering, STACR 2022-DNA6, involves a $1.165 billion note backed by a reference loan pool of 112,865 residential mortgages with an outstanding principal balance of $35.6 billion, according to
Eyes on Housing
SEPTEMBER 16, 2022
Over the first seven months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 645,877. On a year-over-year (YoY) basis, this is a 5.3% decline over the July 2021 level of 681,949. Year-to-date ending in July, single-family permits declined in all four regions. The South posted a slight decline 3.0% while the Midwest region reported the.
The Robert Weiler Company
SEPTEMBER 16, 2022
Summer in the Buckeye State can be a sultry affair. And, surprisingly, one way to beat the heat may involve a unique land protection vehicle known as a conservation easement. From a climate perspective, a green oasis can help cities lessen their urban heat island effect. Let us make the case if the above statement doesn’t make much sense. In cities such as Columbus, Ohio, the heat is often exacerbated by what’s known as the urban heat island effect.
Appraisal Buzz
SEPTEMBER 13, 2022
Brace has observed in its latest Mortgage Servicing Pulse that changes in Servicing regulations following the Great Recession, coupled with accelerated digital adoption during the Covid pandemic, have engendered a fairer, more transparent and stable mortgage ecosystem. However, the end of foreclosure moratoriums, forbearances and the dual threat of rising inflation and recession risk has … The post Distressed Homeowners Find Relief in Fintech Services appeared first on DSNews.
Housing Wire
SEPTEMBER 10, 2022
Ben Slayton’s Legacy Home Loans , the largest Black-led mortgage banking firm in the country, has launched a special purpose credit program for prospective Black borrowers in six cities across the country. The SPCP, called “closing the gap,” permits a 1% down payment with a free appraisal, free home warranty program, free homebuying counseling and financial assistance with closing costs.
Eyes on Housing
SEPTEMBER 16, 2022
Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 9th, total mortgage activity declined 1.2% and the average 30-year fixed-rate mortgage (FRM) rate rose seven basis points to 6.01%. The FRM rate has increased 56 bps over the past month reaching a 14-year high. The Market Composite Index, a measure of mortgage loan application volume, decreased by.
JMV Lending
SEPTEMBER 12, 2022
We have had numerous deals almost die or come close to dying over the years – solely because our appraisers could not find adequate rental comp data. There are several reasons why we often need to support the full market rent in an appraisal, including: The borrowers often need every penny of the rent to […]. The post Provide Rental Comp Data to Appraisers (More Important Than You Realize) appeared first on JVM Lending.
Appraisal Buzz
SEPTEMBER 13, 2022
According to the latest Home Data Index Market Report from Clear Capital, home price appreciation cooled markedly in August as it’s proprietary Clear Capital Home Data Index for the second quarter of 2022 rose 7.4% over the previous quarter; on a yearly basis, this number is up 16.7%. This compares to a 11 % and … The post Home price Appreciation Cooled in August appeared first on DSNews.
Housing Wire
SEPTEMBER 16, 2022
Looking for a quick and easy way to stay up-to-date on mortgage lending news, trends and technology? Podcasts are a great resource for mortgage professionals to continue learning, with shows covering industry updates, business advice and the experiences of other pros in the mortgage industry. The podcasts below can be found across a variety of platforms, including Apple Podcasts, Google Play, Spotify and YouTube.
Eyes on Housing
SEPTEMBER 16, 2022
According to the annual data from the Census Bureau’s Survey of Construction (SOC), the share of new homes started with 5,000 square feet or more of living space stood at 2.90 percent in 2021, up from 2.50 percent in 2020. A total of 33,000 5,000+ square-foot homes were started in 2021, compared to 25,000 in 2020. The increase in number and share.
Appraiserblogs
SEPTEMBER 15, 2022
Yet it applied for $270,706 in PPP relief intended to aid small businesses, such as the mom-and-pop appraisal shops coerced at the state level into participating in the foundation’s privately run regulatory regimen… Wearing a scoop-neck black catsuit from her brand’s High Shine Compression line, media personality Khloé Kardashian, whose net worth has been reported at $60 million, turned heads recently at Kendall Jenner’s 818 Tequila launch party in Malibu.
Appraisal Buzz
SEPTEMBER 13, 2022
Looking to diversify your appraisal business? Taking on non-lender assignments like divorce and estate appraisals may be a great way to bring in different types of clients. Perhaps you already understand the details and intricacies of divorce and estate appraisals , and you’re ready to do the work. But how do you get these types of assignments? Here are some marketing tips to help you make your appraisal services more appealing to divorce and estate.
Housing Wire
SEPTEMBER 16, 2022
The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage rose to an average of 6.02% this week ahead of the Federal Reserve ’s much-anticipated interest rate hike next week. Daily mortgage rate calculators are showing 30-year fixed rates at 6.30% and above. A year ago at this time, rates averaged 2.86%. . “Mortgage rates continued to rise alongside hotter-than-expected inflation numbers this week, exceeding six percent for the first time since late 2008,” said Sam Kh
Eyes on Housing
SEPTEMBER 13, 2022
Consumer prices eased in August for the second-straight month as declines in energy prices offset increases in food and shelter indexes. Despite this slight improvement, inflation remains above an 8% year-over-year rate for the sixth straight month. The food index recorded its largest annual gain since May 1979 as all six major grocery store food group indexes increased.
Birmingham Appraisal
SEPTEMBER 15, 2022
What New Homebuyers Need To Know About Appraisals. If you are a new homebuyer, welcome! Buying a home can be a confusing process, however, I hope that you have been able to surround yourself with knowledgable professionals who can help you navigate your first home purchase and make it an enjoyable experience. In this new homebuyer’s guide to appraisals, I’ll help you understand the process during your first home purchase.
Appraisal Buzz
SEPTEMBER 12, 2022
While many in the housing market are predicting a shift in power to buyers’ favor, that switch may not be coming anytime soon to according to a recent NerdWallet report due to tempered demand due to higher mortgage rates. In addition, home affordability hit another low for first-time buyers during the second quarter of 2022; … The post Affordability Decreases for First-Time Buyers appeared first on DSNews.
Housing Wire
SEPTEMBER 10, 2022
NEXA Mortgage, the largest mortgage brokerage in the country, this week cut ties with the Association of Independent Mortgage Experts ( AIME ), claiming the trade group fails to address bullying and lacks proper governance. Mike Kortas, the controversial CEO and co-founder who himself is no stranger to starting online scraps, said other community members, including smaller brokers and AIME’s leaders, have attacked him, his company and loan officers on social media.
Empire Appraisal Group
SEPTEMBER 16, 2022
FSBOs Usually Soar in a Hot Market. Not This Time. Source: [link]. Housing volatility is pushing more sellers to work with real estate pros rather than go it alone. Here’s how to capitalize on higher interest in your real estate services. By: Melissa Dittmann Tracey. The volatile housing market over the last couple of years has driven more consumers toward using real estate professionals rather than attempting to complete a transaction independently.
GoForrmz
SEPTEMBER 15, 2022
How to improve your benefits programs with digital forms Now more than ever, people want personalized and meaningful experiences in their work–especially when it comes to their employee benefits. Employees want to feel truly known and heard throughout the year, not only during benefits enrollment. In this age of remote work, a gap exists between what employers think employees want and what employees are actually looking for. “ Our new research found that 71% of employers think their benefit
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