Housing Wire

AUGUST 10, 2022

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data.

Inventory 526

Inventory New Listings Housing Market Sellers 526

Appraisal Buzz

AUGUST 8, 2022

Appraisers who have had the opportunity to participate in an appraiser conference recently have probably noticed a recurring theme from Fannie Mae – the importance of supervisory appraisers training the next generation of appraisers. Why is this so important to us? In simple terms, we are a risk management company. Guided by principles of good risk management and our mission defined by our congressional charter, the Fannie Mae Selling Guide states the policy requirements for the loans we acquire

Appraisal 397

Appraisal Training Appraisal Process Business 397

The Appraiser Coach

AUGUST 9, 2022

When it comes to getting business, a lot of us like to go for the “low-hanging fruit.” AMCs are a wonderful source of that “easy to get” business. They’ve been. Read More.

Agents 326

Agents Business Inspection Advertising 326

Cleveland Appraisal Blog

AUGUST 11, 2022

Do you fix your home up or sell it as-is? That can be a tough question to answer. There are some things to consider before making this decision. This week I welcome back guest blogger Betty White who shares some pros and cons of selling a home in its as-is condition. I hope you find her article to be helpful! For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon.

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Renovations Buyers Appraisal Investing 221

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

AUGUST 8, 2022

In a recent survey by the National Association of Realtors , floor plans ranked as the third most desired listing feature for homebuyers, after photos and detailed listing information. But floor plans are a relative rarity on multiple listings services: only 10-15% home listings in the U.S. have floor plans. CubiCasa , a real estate software company based in Finland, launched a new product to enable homeowners to generate floor plans at no cost through their app.

Property Management 525

Property Management Technology Real Estate Valuation 525

Eyes on Housing

AUGUST 11, 2022

Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 42.8% of new and existing homes sold between the beginning of April and end.

Inventory 211

Inventory Mortgage 211

George Dell

AUGUST 10, 2022

AI is “Artificial Intelligence.” The AI is Appraisal Institute. Artificial intelligence is a part of data science. Appraisal comprises science and art. Let’s take a look at what the primal AI intended, and what happened. Which is which? Once upon a time, science and art aspired to be the same. Just different words. What was […]. The post Can AI Save The AI?

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Appraisal Technology 195

Housing Wire

AUGUST 9, 2022

California-based mortgage lender loanDepot is shutting down its wholesale division amid plummeting origination volumes and widening financial losses in the second quarter. The decision to close the channel also reflects fierce competition from its peers in the broker space, primarily from United Wholesale Mortgage (UWM). The announcement on Tuesday came alongside a $223.8 million loss in the second quarter of 2022, more than double the $91.3 million loss in the first quarter of 2022.

Retail 497

Retail Lending Mortgage Real Estate 497

Appraisal Buzz

AUGUST 12, 2022

The Consumer Financial Protection Bureau (CFPB) confirmed in a circular published today that financial companies may violate federal consumer financial protection law when they fail to safeguard consumer data. The circular provides guidance to consumer protection enforcers, including examples of when firms can be held liable for lax data security protocols. “Financial firms that cut … The post CFPB Puts Focus on Financial Companies’ Data Handling appeared first on DSNews.

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Law Appraisal 195

Advertiser: Trellis

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

Eyes on Housing

AUGUST 10, 2022

Consumer prices eased slightly from a 40-year high in July as declines in energy prices offset increases in food and shelter indexes. Despite this improvement, inflation remains above an 8% rate for a fifth straight month. The food index recorded its largest annual gain since May 1979 as all six major grocery store food group indexes increased. Nonetheless, it is.

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JMV Lending

AUGUST 12, 2022

When I was a kid growing up in Southwest Minnesota, everyone had basements. Basements initially served as “root cellars” to store potatoes and carrots all winter (which we actually did) and as protection from tornadoes (something we needed often on the prairie). But the basements were also necessary to prevent homes from shifting during freezing […].

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Lending Appraisal 147

Housing Wire

AUGUST 9, 2022

Not many would count the title industry among the economy’s technology leaders. Candidly, there’s good reason for that. For decades, settlement services firms staked their reputations on personalized customer service and regional or local expertise, rather than cutting-edge technologies. More than a few observers have referred to us as a mom-and-pop industry because it’s comprised of a significant number of small agencies.

Technology 464

Technology Business Clients Agents 464

Appraisal Buzz

AUGUST 12, 2022

Now recording its sixth month of decline, homebuyer competition has now fallen to levels seen during the initial throes of the pandemic. According to Redfin, 44.3% of home offers written by their agents faced competition in July 2022. This seasonally-adjusted number compares to a rate of 50.9% seen in the previous month, and is down … The post Homebuyer Competition Falls to Early-Pandemic Levels appeared first on DSNews.

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Agents Appraisal 195

Eyes on Housing

AUGUST 12, 2022

Over the first six months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 567,798. On a year-over-year (YoY) basis, this is a 3.6% decline over the June 2021 level of 589,146. Year-to-date ending in June, single-family permits declined in all four regions. The South posted a small decline 0.8% while the Northeast region reported the.

Construction 185

Construction Marketing 185

D Fritz Appraisals

AUGUST 11, 2022

Online Home Buying Tips For Remote Purchasers. The real estate market has changed dramatically in recent years. Due to demand for homes being highe r than supply, buyer preferences and buying methods have had to change and more people are resorting to buying real estate online or sight unseen. When demand outweighs supply and quality homes enter the market, they often sell fast.

Real Estate Agent 122

Real Estate Agent Inspection Real Estate Sellers 122

Housing Wire

AUGUST 11, 2022

Mortgage lender loanDepot , based in Orange County, California, has more bad news tucked away in its latest quarterly earnings report filed with the U.S. Securities and Exchange Commission (SEC) — beyond announcing it was shutting down its wholesale division after posting a second quarter loss of $223.8 million, following on the heels of $91.3 million loss for the prior quarter.

Lending 418

Lending Investors Finance Mortgage 418

Appraisal Buzz

AUGUST 11, 2022

Based on a Policygenius study of 8,698 active home insurance policies quoted for renewal between May 2021 and May 2022, home insurance prices are rising at a faster rate than inflation, as costs are up nationwide since last year. According to Policygenius, insurance prices continue to climb in part due to “skyrocketing” inflation and a … The post Home Insurance Prices Up Across the Board, Rising Faster than Inflation appeared first on DSNews.

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Insurance Appraisal 195

Eyes on Housing

AUGUST 11, 2022

During the second quarter of 2022, credit became both tighter and more costly on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing. The average effective rate (based on rate of return to the lender over the assumed life of the loan taking both the contract interest rate and initial fee into account) increased substantially.

Construction 160

Construction Contracts Finance Development 160

Appraiserblogs

AUGUST 9, 2022

The Consumer Financial Protection Bureau (CFPB) has started investigating alleged appraisal discrimination. This is a new development, as federal investigations had so far exclusively been by HUD. The CFPB is an aggressive investigator, and AMCs, large firms and lenders should be wary. For the last year, 40% of my legal work has been occupied by issues concerning alleged discrimination – balanced between representing parties in fair housing investigations and helping clients improve compliance a

Appraisal 119

Appraisal Legal Clients Development 119

Housing Wire

AUGUST 10, 2022

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans , Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group. Donovan Stamps, a 27-year mortgage veteran with stints at Stearns Lending , SoFi Mortgage , First Guaranty Mortgage Corp. and most recently, Caliber Home Loans , will lead Lone Peak as president, Panor

Lending 418

Lending Human Resources Mortgage Loan Officers 418

Appraisal Buzz

AUGUST 11, 2022

Twenty-five-plus-year audit executive to join GSE to monitor key risks assessments, and replace the retiring J. Douglas Watt, Fannie Mae’s current SVP and Chief Audit Executive. The post Cissy Yang to Join Fannie Mae as Chief Audit Executive appeared first on DSNews. The post Cissy Yang to Join Fannie Mae as Chief Audit Executive appeared first on Appraisal Buzz.

Appraisal 39

Appraisal 39

Eyes on Housing

AUGUST 9, 2022

According to NAHB analysis of the Survey of Construction (SOC), new single-family starts expanded at a fast pace in 2021. Nationally, 1,133,145 new single-family units were started in 2021, 14% higher than the units started in 2020. It marked the fastest growth rate since 2013 and the highest count of starts since the Great Recession. Among all the nine Census.

Construction 139

Construction 139

Appraiserblogs

AUGUST 12, 2022

Folks, yesterday, August 11, I received the following notice about Don Machholz from a California appraiser, who requested this be circulated: With sadness, I wanted to share the news of Don Machholz passing on Tuesday, August 9 in Wikieup, AZ due to complications with COVID-19. Don was a real estate appraiser from 2003-2018 and was well known within the appraisal industry.

Real Estate 117

Real Estate Appraisal Realtors Marketing 117

Housing Wire

AUGUST 10, 2022

When the sky is falling in the mortgage industry, generally there is something else that is rising. For many larger nonbank lenders, including UWM Holdings Corp., the parent of United Wholesale Mortgage (UWM), what is rising in their favor is the value of mortgage servicing rights (MSRs). UWM, the nation’s largest wholesale mortgage lender, recorded net income of $215.4 million for its recently ended second quarter, up some 55% from last year’s second quarter earnings mark of $138.7 million, the

Market Value 412

Market Value Mortgage Valuation Lending 412

Appraisal Buzz

AUGUST 10, 2022

The share of U.S. homes that were listed for 30 days or longer without going under contract increased 12.5% in July from a year earlier, according to a new report from Redfin. the technology-powered real estate brokerage. In other words, 61.2% of for-sale homes were on the market for at least 30 days, up from … The post ‘Stale’ Housing Inventory Rises in July appeared first on DSNews.

Inventory 195

Inventory Contracts Brokerage Real Estate 195

Eyes on Housing

AUGUST 10, 2022

Per the Mortgage Bankers Association’s (MBA) survey through the week ending August 5th, total mortgage activity increased slightly and the average 30-year fixed-rate mortgage (FRM) rate rose four basis points to 5.47%. The FRM rate has declined 35 bps over the past month but remains roughly 2.5 percentage points higher than it was a year ago.

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Mortgage Marketing Finance 130

Appraiserblogs

AUGUST 11, 2022

The Texas Appraiser Licensing and Certification Board is a hot mess, but one with a malicious and callous streak. That makes it dangerous to licensees. The Unclean Hands Doctrine is a legal defense. It helps prevent petitioners who are engaged in fraud, deceit or bad faith from recovering certain damages from others. If you’re a known cattle rustler yourself, the Unclean Hands defense may keep you from recovering damages if your own cattle go missing.

Appraisal 114

Appraisal Legal 114

Housing Wire

AUGUST 11, 2022

Home Point Capital , the parent company of wholesale lender Homepoint , took a loss in the second quarter of 2022, even after reducing costs and selling mortgage servicing rights. The company reported reduced volume and lower margins caused by surging rates and an aggressive pricing strategy from its rival United Wholesale Mortgage (UWM). Homepoint, however, said it will not engage in a price war. “Our bias right now is towards more margins and less volume – that said, obviously, the volum

Mortgage 396

Mortgage Lending 396

Appraisal Buzz

AUGUST 10, 2022

Buyers in the MSR market are finding great deals at this time, but these rewards may come with great risk as Allen Price of BSI Financial Services explains. The post The MSR Market Is Soaring, But Challenges Await appeared first on DSNews. The post The MSR Market Is Soaring, But Challenges Await appeared first on Appraisal Buzz.

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Marketing Buyers Appraisal 195

Eyes on Housing

AUGUST 8, 2022

The construction labor market is cooling off as economic activity slows in response to tighter monetary policy per the latest job openings data. Given the Fed’s dual mandate of fighting inflation and maintaining maximum employment, macro price and jobs data are key to informing the Fed’s future policy moves. Inflation remains near a 40-year high and payroll employment growth is.

Construction 130

Construction Marketing 130

Appraiserblogs

AUGUST 8, 2022

TAF spent $1.4 million dollars lobbying over the past four years using the revenue they take in from appraisers… To set the stage of the complete disdain for the appraisal industry and the public trust… In the 2019 TAF 990 Filing, and based on the assumption their compensation has increased in the last three years, the two leaders of TAF, Dave & Kelly, run a 12 employee entity and make a staggering ± $750,000 annually.

Government 110

Government Appraisal 110

Housing Wire

AUGUST 10, 2022

After rising to its highest level in 40 years in June , inflation dropped slightly in July. Thanks to a decrease in the gasoline index the Consumer Price Index (CPI) remained unchanged from the month prior, after hitting a 1.3% seasonally adjusted rate in June, according to data released Wednesday by the Bureau of Labor Statistics. Year over year, the CPI for all items rose 8.5% in July, down from the 9.1% yearly increase reported a month ago.

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Marketing Mortgage 395