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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.
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
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.
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.
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.
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.
Today’s Buzzcast interview is with Loren Cooke, President of Solidifi, and Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Loren, Scott, and Jim Morrison, VP of Marketing and Sales for Allterra Group, to discuss bringing more diversity into the appraisal industry and their panel for Valuation Expo, “ Appraiser Diversity Initiative: How the Industry is Attracting New Entrants and Fostering Appraiser Diversity. ”.
Today’s Buzzcast interview is with Loren Cooke, President of Solidifi, and Scott Reuter, Chief Appraiser of Freddie Mac. We sat down with Loren, Scott, and Jim Morrison, VP of Marketing and Sales for Allterra Group, to discuss bringing more diversity into the appraisal industry and their panel for Valuation Expo, “ Appraiser Diversity Initiative: How the Industry is Attracting New Entrants and Fostering Appraiser Diversity. ”.
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.
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?
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.
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.
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.
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.
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 […].
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.
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.
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.
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.
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.
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
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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.
The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp. The REIT, which is managed by investment advisor Western Asset Management Co. LLC , recently announced that it is exploring a potential company sale or merger in the wake of posting a $22.4 million net loss for the second quarter ended June 30, — on the heels of posting
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.
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.
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.
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