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There’s no doubt we’re in a seller’s housing market. With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. Of course, nothing’s impossible. If buying a home is on your radar for 2021, there are still ways to do it. You’ll just need a little forethought and some good old creativity, and the American Dream could very well be within reach.
On Tuesday of this week, Punxsutawney Phil saw his shadow. Therefore, we have six more weeks of winter weather, by some predictions. Somehow, I feel like six more weeks of winter is a given. Especially in Northeast Ohio. How accurate are weather predictions made by folks who try to base future weather patterns on whether this little critter sees his shadow?
Residential appraisals are more straightforward than you think You’ve sold your house, but your offer is conditional upon an appraisal by the bank. What does this mean? The buyers of your home have applied for a mortgage from a bank, with the house used as collateral. The bank gets an appraisal to ensure that there’s […].
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.
Economists and housing experts say mortgage lending standards will likely loosen in 2021, despite the increased risk of delinquencies ahead. Such a scenario illustrates the growing disparities in the U.S. housing market. As one struggling group of homeowners braces for the end of forbearance and navigates COVID-19-related economic shocks, another segment is better positioned than ever to scoop up properties that become available.
The shortage of qualified appraisers is worse than ever for several reasons: Demand exceeds supply. The continued surge in both refinance and purchase transactions has created a situation where the demand for appraisers far exceeds the supply. COVID concerns. B/c of COVID concerns, many appraisers are justifiably reluctant to accept orders requiring physical (interior) inspections. […].
The shortage of qualified appraisers is worse than ever for several reasons: Demand exceeds supply. The continued surge in both refinance and purchase transactions has created a situation where the demand for appraisers far exceeds the supply. COVID concerns. B/c of COVID concerns, many appraisers are justifiably reluctant to accept orders requiring physical (interior) inspections. […].
By Brooke Tanner. Picture this. You are one week away from the closing table, and your first-time homebuyer’s lender calls with stressful and unfortunate news. The underwriting team has finished their final review and discovered that your buyer is no longer qualified to purchase the home. This can happen for several reasons. Maybe they do not have enough funds for the down payment.
United Wholesale Mortgage , now a publicly traded company, will return to the Super Bowl this year. The wholesale lender will be running a new Super Bowl commercial spotlighting independent mortgage brokers and its website FindAMortgageBroker.com for a second straight year. See the video below: “We will always find ways to elevate and shine a light on independent mortgage brokers, and what better way to do this than during the Super Bowl where millions of Americans are tuned in to watch the game
Welcome back, friends! This post is part two of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. In case you missed part one, go back and read all about the Final Inspection process here. In this blog post, we’re going to give you an appraiser’s perspective on unique homes, and […]. The post The Loan Officer’s Guide to Appraisals Part 2: Lending on Unique Homes appeared first on Riverfront Appraisals.
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.
Career satisfaction among real estate appraisers is significantly higher than the national average. Why are appraisers generally happy in their careers? Are some appraisers happier than others? Is income satisfaction as high as job satisfaction? Here, we address these questions and give a glimpse into survey data reported in the 2020-2021 Appraisal Income Guide.
Replacing the old process with the new! Is it time to overhaul the appraisal process? By now, most appraisers have read the Request for Information (RFI) published by the Federal Housing Finance Agency (FHFA) on December 28, 2020. If you haven’t taken the time to read it, you can take a few minutes and read it here: Public Affairs Detail | Federal Housing Finance Agency (fhfa.gov).
The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. With mortgage rates hovering below 3% for over six months now, Sam Khater, Freddie Mac’s chief economist, said this may be a sign of an economy still struggling. “This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position,” Khater said. “While ma
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 appraisers are reportedly 25% more satisfied in their careers, on average, compared to American workers across all professions. There are many reasons to love being an appraiser, such as having a flexible schedule, earning a good living, and doing challenging work. Last month we asked our real estate appraisal community, “What do you enjoy MOST about being an appraiser?
Reading Time: 2 minutes Download the infographic here. Look forward to a lot less competition. Here’s an overview of why selling this winter may be smarter: Even after the buyer boom seen in 2020 , it continues: Buyer demand is outpacing the supply of available homes for sale, so homebuyers frequently compete to snatch up limited listings. Housing inventory is at an all-time low , sitting far below the 6-month supply required to support a healthy market.
United Wholesale Mortgage originated more than $54 billion in mortgages and generated more than $1.3 billion in net income during the fourth quarter, the company revealed on Wednesday. The wholesale lender’s parent company reported $54.7 billion in originations, a 71% increase from the $31.9 billion the Michigan-based lender originated in the fourth quarter in 2019.
The Department of Housing and Urban Development announced on January 19, 2021, that the FHA would once again back mortgages for DACA recipients. The announcement comes as great news as it will be the first time since 2019 that DACA recipients will be eligible for FHA loans. History of FHA Loans for DACA Recipients. Established in June of 2012, Deferred Action for Childhood Arrivals, or DACA, granted special protections for undocumented children who entered the country under the age of 16 and wer
A Zillow report released Thursday shows urban home values in Midwest cities — namely, St. Louis, Cincinnati, Cleveland, Kansas City, Columbus and Indianapolis — have risen faster than suburban home values over the past several months. Urban housing markets in the Midwest are generally more affordable than urban areas in other areas of the country. With the COVID-19 pandemic forcing millions to work from home, Zillow reported that demand is supercharging home values in those kinds of affordable a
Ginnie Mae announced its first guarantee of a mortgage-backed security backed by digital pools, or pools of loans that consist entirely of eNotes. The MBS were loans closed by Rocket Mortgage in December, are issued as of Jan. 1, 2021 and have coupon rates ranging from 2.5% to 3.5%. The total principal value of the digital pools came to about $24 million.
According to a recent Realtor.com survey , almost 95% of homebuyers consider their pets when purchasing a home. Yes, you read that right. Purchasing your first home is an exciting time. Whether you’re shopping for a fixer-upper or a home with a modern exterior, there’s nothing like finally being able to check the “buy a house” box off your bucket list. .
If you’re selling your home, you probably don’t want it to be a slow process. . Not only does it delay your goals of moving on or buying that new property, but it can also hurt your profits in the long run. Fortunately, there are some easy ways to prevent all that. Want to make sure your home moves quickly? These six strategies can help.
After months of uncertainty , CoreLogic announced Thursday that it entered into a definitive agreement to be acquired by Stone Point Capital and Insight Partners for $80 per share in cash, or an equity value of about $6 billion. This would be a premium of 51% to CoreLogic’s unaffected share price as of June 25, 2020. The acquisition was approved unanimously by CoreLogic’s board of directors.
When it comes to household trends they are often going in and out of style. This means what was out of trend a few years ago would be in style a year or two later. So, in 2021, we’re likely to see older and rustic trends being adopted as conventional ones take a back seat. Other design trends for this upcoming year are the minimalist style and the use of a variety of colors.
The Federal Housing Finance Agency appointed Clinton Jones as its new general counsel, saying this was the next step in turning the FHFA into a “world-class regulator.” Jones will step into the role immediately, taking the place of Alfred Pollard, who will retire from the FHFA at the end of March. “Alfred has served admirably as General Counsel to every FHFA Director,” FHFA Director Mark Calabria said.
Mortgage servicers received less complaints at the Consumer Financial Protection Bureau (CFPB) in the fourth quarter of 2020, according to data from Inside Mortgage Finance. The data showed that mortgage protests overall decreased by 6.7% in the fourth quarter, while complaints about loan modifications dropped 10.1%, servicing concerns dropped 6.7% and criticisms about applications fell 8.6%.
Guaranteed Rate announced Wednesday it will air a 60-second commercial featuring Ultimate Fighting Championship fighter Dustin Poirier and NASCAR driver Ryan Newman during Super Bowl LV on Sunday, Feb. 8. The commercial will introduce Guaranteed Rate’s new brand campaign, “Believe You Will,” of which Poirier and Newman are ambassadors.
Mortgage applications jumped 8.15% from the week ending Jan. 29, breaking a two-week streak of decreases, according to the latest data from the Mortgage Bankers Association. The refinance index also increased 11% from the previous week – up to its highest level since March 2020 – and was 59% higher year-over-year. The seasonally adjusted purchase index increased 0.1% from one week earlier, though the unadjusted purchase Index increased 8 percent compared with the prior week and was 1
Fresh off its acquisition of Stearns , Guaranteed Rate has picked up Owning Corporation , a direct-to-consumer mortgage lender. The acquisition gives Guaranteed Rate, best known for its retail prowess, another engine to boost its growth in the direct-to-consumer channel. Terms of the deal with Orange, California-based Owning were not disclosed. According to Guaranteed Rate, Owning’s direct-to-consumer platform processed over $20 billion in total loan volume in 2020. “We’re actively s
Rocket Mortgage isn’t playing around when it comes to this year’s Super Bowl. Sure, rival United Wholesale Mortgage is back with another commercial touting the benefits of consumers using a mortgage broker. But Rocket’s upped the ante, dropping not one, but two new commercials to air on the biggest televised event of the year. The two 60-second commercials will feature actor and comedian Tracy Morgan, alongside an unnamed movie star, athletes and “influencers” speak
Pacific Western Bank , the wholly owned subsidiary of PacWest Bancorp , announced Tuesday it had acquired Civic Financial Services , a private money lender that caters to real estate investors. Wedgewood , a real estate investment firm that focuses on distressed properties, was the seller of Civic. Terms of the deal were not disclosed. Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market.
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