Tuesday , 18 December 2018

Housing Wire

Housing Wire

Appraisal experts: Here’s how you can best prepare your borrower

By jguerin@housingwire.com Borrowers often have considerable expectations when it comes to their home’s estimated value, and navigating these can be tough for both the loan officer and the appraiser. Experts from two appraisal management companies recently discussed how to best prepare a borrower for an appraisal the National Reverse Mortgage Lenders Association conference in San Diego, and here’s what they …

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Here are the 10 MSAs with the lowest appreciation

[Expert commentary] The latest VeroFORECAST report shows that 351 Metropolitan Statistical Areas will experience property appreciation in the next year. But, of the bottom 10 MSAs, seven will see values decline between -0.2% and -2.2% in 2019. The two most troubled markets? Farmington, New Mexico, and Vineland-Millville-Bridgeton, New Jersey. Via:: Here are the 10 MSAs with the lowest appreciation       

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Committee tracks impact of FHA’s second appraisal rule

By jguerin@housingwire.com Members of the HUD Issues Committee within the National Reverse Mortgage Lenders Association are taking a deep dive into the Federal Housing Administration’s second appraisal rule for select HECM loans. “We are tracking what we think are key elements to see if we can’t figure out where some of the problems may lie,” said Committee Chair Ellie Johnson. …

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NAR: Rising home prices push prospective buyers out of market

Home prices increased in the third quarter due to the continued low levels of housing inventory, keeping many potential homebuyers out of the housing market. While national family median income increased to $76,608 in the third quarter, due to rising home prices and mortgage rates, affordability is down. Via:: NAR: Rising home prices push prospective buyers out of market       

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HUD: Reverse mortgage second appraisal rule affecting about 20% of HECMs

By jguerin@housingwire.com The latest mandate requiring a second appraisal on select reverse mortgage loans has affected about 20% of HECM appraisals so far, according to representatives at the Department of Housing and Urban Development. Speaking on a panel at NRMLA’s conference on Monday, HUD staff members presented data on the impact of the new appraisal rule and other recent changes …

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Amrock ordered to pay $740 million to HouseCanary for trade secret theft

By blane@housingwire.com A Texas judge last week ordered Amrock, the title insurance, settlement services and valuations provider formerly known as Title Source, to pay just shy of $740 million to HouseCanary after denying Amrock’s request to vacate a jury’s earlier decision in a trade secret theft battle that rocked the housing industry. Via:: Amrock ordered to pay $740 million to …

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Appeal denied: Amrock ordered to pay $740 million to HouseCanary for trade secret theft

By blane@housingwire.com A Texas judge last week ordered Amrock, the title insurance, settlement services, and valuations provider formerly known as Title Source, to pay just shy of $740 million to HouseCanary after denying Amrock’s request to vacate a jury’s earlier decision in a trade secret theft battle that rocked the housing industry. Via:: Appeal denied: Amrock ordered to pay $740 …

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