Housing Wire
FEBRUARY 10, 2022
The average 30-year-fixed rate mortgage climbed to 3.69% for the week ending Feb. 3, up eight basis points from the previous week. It’s the highest level since the start of the pandemic, according to the latest Freddie Mac PMMS Mortgage Survey. Before the uptick, the rates remained flat at 3.55% for three weeks, reflecting the impact of the Omicron variant in the economy.
Appraisal Buzz
FEBRUARY 7, 2022
It appears the FHFA is making good on their promise. Fannie Mae announced on January 19, 2022 that they will be accepting desktop appraisals for eligible loan transactions. The team at Fannie Mae were the first to announce requirements lockstep with their Regulator that desktop appraisals will become a normal part of the appraisal product landscape.
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Sacramento Appraisal Blog
FEBRUARY 8, 2022
How do we choose comps in such a lopsided market? I had a great question about this recently, so I wanted to share some thoughts. Anything to add? I’d love to hear your take in the comments. QUESTION: With so many listings receiving offers above list, and people having to pay the shortfall between the […].
Cleveland Appraisal Blog
FEBRUARY 11, 2022
Several years ago, before the pandemic, I signed up for the Cleveland Half Marathon. Well, the pandemic struck the spring of the marathon. I was given the option to postpone my run for a couple of years. So, I did. When I signed up several years ago, I had some work to do to get back into running shape. Sadly, since that time, I consumed too many peanut M&M’s whilst binging movies for an extended period, which has not helped my running.
Housing Wire
FEBRUARY 11, 2022
Maryland has over a dozen Eastern European stores that sell products like caviar, pumpernickel bread and salo, a Ukrainian-style bacon. Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. Just before a customer buys a container of pre-made Borscht, they see Naumovych’s business cards and flyers that lay neatly near the checkout area.
Appraisal Buzz
FEBRUARY 9, 2022
Today’s Buzzcast interview is with Craig Capilla, member of Franklin, Greenswag, Channon & Capilla, LLC. We sat down with Craig and Joan Trice, Founder of Allterra Group, LLC to discuss appraisers and how they can protect themselves from liability within the appraisal process. What happens when an appraiser get a complaint from their State Board?
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Eyes on Housing
FEBRUARY 7, 2022
Much like last year, the price and availability of building materials topped the list of problems builders face. According to special questions on the December 2021 survey for the NAHB/Wells Fargo Housing Market Index, building material prices were a significant issue for 96% of builders in 2021, and 91% of the builders expect it to continue being a problem in.
Housing Wire
FEBRUARY 11, 2022
Forecasts take on a new meaning this year as we enter our second year of economic forecasting in a COVID-19 world. This 2022 forecast event brought together some of the top economists and researchers in the housing space, equipping attendees with the insights and data they need to navigate the year ahead. The following on-demand event is an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business and the biggest questions and
Appraisal Buzz
FEBRUARY 8, 2022
Fannie Mae has begun marketing its twenty-fourth sale of reperforming loans as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 8,050 loans, having an unpaid principal balance of approximately $1.3 billion, and is available for purchase by qualified bidders. This sale of reperforming loans is being marketed in collaboration with Citigroup Global Markets Inc.
Urban
FEBRUARY 10, 2022
There’s a great need for more housing and homeownership in Los Angeles. Increasing the supply of low-density infill housing through zoning reform is an important step, but the city requires additional policies to ensure racial and economic inequities don’t widen.
Eyes on Housing
FEBRUARY 8, 2022
Supply-chain bottlenecks that put upward pressure on home prices along with rising interest rates contributed to housing affordability falling to a 10-year low. The likelihood of higher interest rates in the months ahead (as the Federal Reserve moves to tighten interest rates) along with ongoing production challenges threaten to drive housing affordability even lower in 2022.
Housing Wire
FEBRUARY 10, 2022
Freddie Mac reported a net income of $12.1 billion for 2021, a 65% increase from 2020. The government-sponsored enterprise saw a 20% growth in its single-family mortgage portfolio from 2020 to 2021, driven by soaring home prices and an increase in the average size of loans it acquired. Freddie Mac’s net worth is now $28 billion, more than three times what it was pre-pandemic.
Appraisal Buzz
FEBRUARY 11, 2022
This number is down 23 basis points from the third quarter of 2021 and down 208 basis points from one year ago. For the survey, MBA servicers reported loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage. “Mortgage delinquencies descended in the final three months of … The post Mortgage Delinquencies Decrease in Q4 appeared first on DSNews.
GoForrmz
FEBRUARY 9, 2022
Enhance your data capture and streamline communication with these digital forms for animal care facilities There isn’t a single industry that can't reap the benefits of digitization, and animal care facilities are no exception. From animal care forms to veterinary intake forms, all aspects of the animal care industry can experience the same benefits that other industries experience by joining the digital transformation movement.
Eyes on Housing
FEBRUARY 9, 2022
The Mortgage Bankers Association’s (MBA) latest weekly application surveys show average loan sizes reaching consecutive record highs each week for the latest month, with a record high of $446,000 for the week ending February 4. Accompanying the increase was a similar dramatic rise in the 30-year fixed-rate mortgage rates, reaching 3.83 percent in the latest week.
Housing Wire
FEBRUARY 10, 2022
Zillow CEO Rich Barton. When Zillow stunned the housing world last November by announcing a wind down of its iBuying program – and beginning the process of laying off a quarter of its workforce – the question became what’s next. Suspense built as Zillow has kept a low profile since. On Thursday, we got an answer – A super app. “We are focused on building the ‘housing super app’ – an integrated digital experience in which Zillow connects all the fragmented pieces of the moving process and brings
Appraisal Buzz
FEBRUARY 9, 2022
If mortgage interest rates were to rise to 3.9%, a homebuyer with a $2,000 monthly housing budget could afford a $382,250 home, according to a new report from Redfin. That’s down from the $396,000 home a buyer with the same budget can afford with a 3.5% rate – roughly where mortgage rates stand today. Redfin economists predict the 30-year fixed mortgage rate will climb to 3.9% by the end of this year.
GoForrmz
FEBRUARY 7, 2022
Don’t recreate the wheel – leverage a familiar interface for your team’s data entry forms app In today’s business world, data is a critical element of any operation. Data is used to manage projects, understand a customer client base, build reports, and operate businesses. But capturing data collected from the field or on a paper form adds obstacles to those trying to input data into existing data entry systems.
Eyes on Housing
FEBRUARY 10, 2022
Consumer prices continued to accelerate in January due to higher food, electricity and housing costs. This was the largest year-over-year gain since February 1982. This higher-than-expected inflation may push the Federal Reserve to become more aggressive and raise the federal funds rate at a faster pace. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose.
Housing Wire
FEBRUARY 10, 2022
It is no secret that 2021 posed a variety of challenges for the title insurance industry. High demand for housing coupled with low mortgage rates led to an increase in both purchase and refinance transactions, pushing many firms to expand their capacity. Stewart Information Services Corporation was no exception. “2020 and 2021 were two of the best, as well as most challenging years in the title industry as a whole given tremendous changes in the market historically low rates and an ongoing impac
Appraisal Buzz
FEBRUARY 7, 2022
Celink , a reverse mortgage subservicer, has been selected by Fairway Independent Mortgage Corp., a nationwide mortgage lender, to help support the ongoing expansion of their reverse mortgage origination operations. Fairway will utilize Celink as its subservicer for newly originated reverse mortgages on an interim servicing basis until the company sells and transfers the loans, streamlining the process and reducing points of friction for borrowers. “Celink leadership understands the nuance
GoForrmz
FEBRUARY 8, 2022
Streamline operations and improve your data collection processes by switching to digital forms Paper form collection, processing, and storage can be inefficient and time-consuming for your organization. Messy and disorganized forms can lead to communication barriers, administrative burdens, and dissatisfied customers. Luckily, with GoFormz, you can build custom forms that look and feel exactly like your existing forms.
Eyes on Housing
FEBRUARY 8, 2022
The Federal Reserve’s latest G.19 Consumer Credit Report states that consumer credit increased 5.9 percent in 2021, with revolving and nonrevolving credit increasing 6.6 percent and 5.7 percent, respectively. During the fourth quarter, consumer credit increased at a seasonally adjusted annual rate of 6.6 percent, while the December monthly increase was 5.1 percent.
Housing Wire
FEBRUARY 10, 2022
Just like other “Big Four” member Old Republic last week , First American Financial announced record breaking earnings during its fourth quarter earnings call on Thursday. The company’s total revenue for 2021 was up 30% from 2020 to a record of $9.2 billion, with $2.4 billion earned during the fourth quarter. However, the firm’s net income dropped to $260 million during Q4 compared to $280 million a year ago, which can be attributed to an uptick in operating costs.
Appraisal Buzz
FEBRUARY 11, 2022
This number is down 23 basis points from the third quarter of 2021 and down 208 basis points from one year ago. For the survey, MBA servicers reported loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage. “Mortgage delinquencies descended in the final three months of … The post Mortgage Delinquencies Decrease in Q4 appeared first on DSNews.
Appraiserblogs
FEBRUARY 10, 2022
Are desktop appraisals with third-party inspectors protecting the public, or are these products about to destroy the very profession I love so much. The Uniform Standards of Appraisal Practice (USPAP) are the key to maintaining public trust in real estate transactions. USPAP is pretty much the equivalent to the Bible, but it MUST be followed for appraisers.
Eyes on Housing
FEBRUARY 11, 2022
In the fourth quarter of 2021, the Federal Reserve’s Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed easing lending standards for Commercial Real Estate (CRE) loans, increased demand for multifamily loans, and moderately reduced demand for home loans (Residential Real Estate, RRE). In Q4 2021, multifamily loans’ demand, on net, was 37.7 percent stronger.
Housing Wire
FEBRUARY 10, 2022
Back in August, Christian Wallace spoke effusively about her future at Better.com. The digital lender generated so much money through mortgage refinancing that it bankrolled a formidable real estate division. And Wallace, a former Sotheby’s agent and Opendoor manager, was charged with ensuring the division blossomed. But on Thursday, Wallace said that she gave Better her three-weeks notice of resignation.
Appraisal Buzz
FEBRUARY 11, 2022
Mr. Cooper Group Inc. and Sagent M&C LLC have signed a definitive agreement under which Sagent will buy certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing. Mr. Cooper will receive an equity stake in Sagent. This agreement will leverage Mr. Cooper’s mortgage servicing depth and Sagent’s software speed to create a cloud-native, homeowner-first servicing platform.
Urban
FEBRUARY 7, 2022
Federal assistance is critical but is not a one-shot solution for Native homeowners.
Hank Miller Team
FEBRUARY 8, 2022
So what happens if the appraisal is below contract price? The early '22 market is already showing it'll be as tight or tighter than the '20 & '21 markets, buyers are tossing off all constraints to "win" the beauty contest of buying a home. Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract.
Housing Wire
FEBRUARY 9, 2022
While the real estate industry has witnessed the introduction of a number of spectacular and innovative developments in recent years, we still (sometimes unfairly) get tagged as “old fashioned” or “conservative.” This is especially true on the financial services side when it comes to transferring money for real estate. There’s really no experience quite like buying a home.
Appraisal Buzz
FEBRUARY 11, 2022
Multi-year deal will integrate Mr. Cooper’s software platform into Sagent to accelerate the modernization of America’s top banks and lenders. The post Mr. Cooper and Sagent Partner on Cloud-Native Servicing Platform appeared first on DSNews. The post Mr. Cooper and Sagent Partner on Cloud-Native Servicing Platform appeared first on Appraisal Buzz.
Empire Appraisal Group
FEBRUARY 10, 2022
Maskot / Getty Images. Study: More Minority Fla. Buyers Denied Loans. By Sam Sachs. Of all Fla. mortgage rejections in 2020, 21.8% were Black, second only to American Indian/Alaska Native. Nationwide, the denial rate is 84% higher for Blacks. TAMPA, Fla. – In the current housing market, owning a home is already difficult, especially for first-time homebuyers.
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