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Fannie Mae ‘s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, fell 1.2 points in February. Fear not, experts say – better days are ahead. Overall, the HPSI hit 76.5 last month, down from 77.7 in January. A small drop was expected, according to Fannie Mae Senior Vice President and Chief Economist Dave Duncan, but optimism should be reflected in the coming months. “The HPSI remained relat
Many appraisers work out of our homes, not interacting with office staff or other appraisers. Even when we’re out, we’re still doing work-related tasks like shooting pictures and doing inspections. Read More.
Appraisers have adjustments for “market conditions” and “sale conditions.” Why not “loan conditions?” There are similarities and differences. This is Part II in this series. Read Part I here Loan Conditions. Market conditions, for any particular market, price levels – trend together. So, appraisers apply ‘time’ adjustments to compensate for this change in ‘market conditions.’ […].
Whenever the market heats up like this, particularly in the springtime, appraisals invariably come in low. This is simply because there are often no closed comparable sales (comps) that even come close to supporting current contract prices, especially when there are bidding wars. REMINDER: Appraisers can only use comps that close prior to the appraiser’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.
For the first time in its history, Rocket Mortgage has revealed the amount of business it does in the broker space. The disclosure comes just days after United Wholesale Mortgage issued an ultimatum to mortgage brokers, telling them that they could not partner with Rocket or Fairway Independent Mortgage Corp. and continue to do business with UWM. The rest of this content is for HW+ members.
The most weighted technique in most automated valuation programs comes down to one over-simplified formula, based on a guesstimation from an outside source that has no interest in the real estate system… Dear FHFA: Please accept the following comments in regard to Question A1.4. The response also includes comments on several additional questions.
The most weighted technique in most automated valuation programs comes down to one over-simplified formula, based on a guesstimation from an outside source that has no interest in the real estate system… Dear FHFA: Please accept the following comments in regard to Question A1.4. The response also includes comments on several additional questions.
When a real estate client defects, it might not be something you are doing to drive away real estate clients. Some people simply change their minds about selling or buying. Others feel they can find a better match with another agent. There could be any number of reasons why the client decides to look elsewhere. However, you must consider, at least a little, that something you did along the way caused the client to walk away.
Cash-Paying Out-of-Towners Frustrate Local Fla. Buyers. Source: Cash-Paying Out-of-Towners Frustrate Local Fla. Buyers | Florida Realtors. By David Lyons. Brokers are getting more calls from out-of-staters, and the demand isn’t limited to Fla.’s traditional feeder markets. It adds yet another challenge for local buyers. FORT LAUDERDALE, Fla. – As homebuyers jostle for a dwindling supply of houses in South Florida, local bidders are finding themselves in a growing competition with out-of-state pe
The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021. However, the government agency is now pushing that back to at least April 30, 2021.
An appraiser shared the following with us which was posted on one of the appraisers’ groups. There’s been a lot of mis-information about the new FNMA form posted so i thought i might clear the air a little bit. Being a software provider i’m in the loop but i can’t disclose every thing i know due to confidentiality. That being said i’m just the messenger and don’t shoot the messenger. the new form is not to put appraisers out of business. if they weren’t
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.
“One of the best courses that I have had in 17 years!” -Amy H >> OREP E&O ????? “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Editor’s Note: Take the NEW 2021 Appraiser Fee Survey online now at WorkingRE.com/2021survey. Are You Smiling Yet? (you will) by David Brauner, Senior Broker at OREP.org Here […].
Real Estate Exchange (REX) filed an antitrust lawsuit Tuesday in federal court against Zillow , accusing the company of anticompetitive behavior related to showing certain homes on its platform. Trulia and the National Association of Realtors are also named in the suit. REX, an Austin-based real estate startup, said Zillow’s new listing layout, which includes tabs entitled “agent listings” and “other listings,” positions its listings in a “recessed obscured, a
The Appraisal Foundation has issued an exposure draft for Advisory Opinion (AO) 16. Advisory Opinion 16 is Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development and Reporting. Unlike other exposure drafts, the text of the AO opinion has been rewritten. The traditional strike through of word or phrase changes is nonexistent.
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.
Picking a good neighborhood is as important as choosing the right house. Here's how to identify an up-and-coming area—and why "bad" isn't always, well, bad.
Mortgage credit is still the tightest it has been in more than six years, but an unwavering February may be the calm before the purchase storm as lenders prepare for a revitalized economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index remained unchanged at 124.6 last month, still hovering near levels previously seen in 2014.
The circumstances of life have ways of upending our comfortable routines. Medical emergencies, financial setbacks, legal challenges, family dramas and political reversals -- not to mention fires and floods -- each and all can interrupt our ordered existence with new demands. The COVID-19 pandemic is one such shocker, forcing many to work from home. Aging parents or relatives down on their luck also force homeowners to make hard decisions about how to utilize their properties.
A rent increase can be painful for the tenant—but they help landlords keep up with rising costs. Here are some expert-approved strategies to raise the rent.
Reading Time: 4 minutes. Even in a typical year, you can expect clients to ask routine questions — and you’ll give them routine answers back. But, of course, this year has been anything but typical, for our country and for real estate. With so many changes taking place related to the pandemic, the economy, and the political sphere, your clients are going to come to you with complex questions.
As the first quarter of 2021 nears its end, a recent Redfin report shows both good and bad news for Black homeowners. The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021. That $59,000 gain represents a median home equity increase of 197%.
Each year, the average American household spends $2,471 on real estate property taxes plus another $442 for residents of the 27 states with vehicle property taxes. The personal finance website WalletHub revealed the states with the highest taxes in both categories. Read on to find out more.
A self-directed IRA allows you to personally select your retirement account's investments. Want to invest in real estate or gold? This unique tool can help.
> E&O/GL Insurance for Home Inspectors Competitive Rates, Broad Coverage, Free Risk Management, online inspection support for tough questions, discounts on education and more. Professional Coverage, Competitive Pricing Shop OREP today! >> Editor’s Note: To help you stay up-to-date and connected, OREP/Working RE has established a Coronavirus (COVID-19) Discussion and Resource Page where you […].
Imagine requesting an Uber and not being able to see a map view of where the driver is located in real time; ordering food from DoorDash without up-to-date digital menus from an endless number of restaurants; or buying an item with Amazon Prime and having to pay close attention to the delivery estimates. When we look at industries that have undergone significant change, it is easy to take for granted the success stories of market leaders and miss the seemingly small inventions that radically cha
The Federal Housing Administration (FHA) recently announced extensions of a set of policy flexibilities for single-family lenders and servicers, part of its effort to maintain new mortgage originations for homebuyers and allow 203(k)-funded rehabilitation projects to continue, even throughout the COVID-19 pandemic. Read on to learn more.
On Wednesday, March 24, 2021, McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Fannie Mae Q1 2021 Appraisal Update.” In this special interactive webinar, Fannie Mae’s Collateral Policy Team will share policy updates impacting appraisers, dispel some common myths pertaining to Selling Guide policies, and provide insights regarding appraisal quality as well as actions related to significant appraisal defects.
Millennials are a significant part of the housing market boom as first-time homebuyers. Reports show 63% of millennial home shoppers plan to purchase a home because of their new remote work status. If you’re interested in becoming a first-time homebuyer, there are some things you need to know. As you start the real estate process, saving for a down payment—often while paying off debt in tandem—can feel like a big hurdle.
The Appraisal Institute, in collaboration with Fannie Mae and the National Urban League, announced the latest group of aspiring real estate appraisers awarded scholarships through the Appraiser Diversity Initiative. Read on for more information about this program.
First-time home buyer? At some point, all of us were. How do you make sure you’re getting a great deal, how should you pay for it, and what can you […].
At McKissock Learning, we want our customers to have all the resources they need to be successful in real estate. That’s why we’ve teamed up with RISMedia , the leading provider of the most relevant and up-to-date information related to the residential real estate market. As their Strategic Education Partner, we are able to give our customers free access to the digital edition of the RISMedia monthly magazine.
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