Tuesday , 18 December 2018

Housing Wire

Housing Wire

This real estate market will see almost 12% in appreciation

According to the latest VeroFORECAST, this MSA is projected to see 11.7% appreciation for single-family residences and 11% appreciation for condos and townhomes and its market remains one of the strongest markets in the country, with its extremely low 1.4-month supply of homes struggling to fill the demands of its growing population. Via:: This real estate market will see almost …

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Housing options disappear for low-income renters

Low income renters are struggling with housing needs as they fight against competition for the shrinking number of affordable units. And low-income renters aren’t the only ones struggling to find inventory. The study also found that inventory is limited for high-income renters. Via:: Housing options disappear for low-income renters       

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FHFA: Home prices increase 0.3% in August

Home prices rose in August, inching forward 0.3% from July according to the latest monthly House Price Index from the Federal Housing Finance Agency. According to the report, across the nine census divisions, the Mountain division continues to see the strongest appreciation growth. Via:: FHFA: Home prices increase 0.3% in August       

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FHA’s second appraisal rule for HECMs has minimal impact so far

By jguerin@housingwire.com It’s been just a few weeks since the Federal Housing Administration announced that it will now require a second appraisal on select reverse mortgage loans, but lenders are already feeling the effects. And so far, it’s not all that bad. Via:: FHA’s second appraisal rule for HECMs has minimal impact so far       

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FHA publishes FAQ on second appraisal mandate for reverse mortgage loans

By jguerin@housingwire.com It’s only been in play for a few weeks, but the HECM industry continues to speculate just how impactful FHA’s new second appraisal mandate has been. In the meantime, the agency sought to clear up any confusion among lenders, recently publishing a list of FAQs on the new guideline. The biggest takeaway? Its process is proprietary, so don’t …

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Class Appraisal names Gary Ferguson as its new CTO

Class Appraisal named Gary Ferguson as its chief technology officer to spearhead its pursuit of tech solutions. Ferguson has 20 years of experience in enterprise application development and has spent most of his career in the mortgage industry. Prior to joining Class Appraisal, Ferguson was CTO at Centric Technology Solutions. Via:: Class Appraisal names Gary Ferguson as its new CTO …

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Veros: Washington, Nevada will see most home value appreciation next year

By jguerin@housingwire.com Valuations provider Veros predicts seven of the 10 top-appreciating markets in the next 12 months will be in Washington and Nevada, and that the most populated metro areas will see a 4.5% uptick in appreciation. “We are forecasting that the overwhelming number of metros across the nation, approximately 97%, will appreciate,” said Eric Fox, VP of statistical and …

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FHA Commissioner Brian Montgomery hints at issues in FHA appraisals

By blane@housingwire.com The FHA has already identified issues in appraisals on reverse mortgages and is taking steps to address the problem. But now, FHA Commissioner Brian Montgomery told the crowd at the Mortgage Bankers Association 2018 Annual Conference in Washington, D.C., on Monday that the FHA is seeing some things in forward appraisals that give him “pause.” Via:: FHA Commissioner …

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