Wednesday , 20 February 2019

Housing Wire

Housing Wire

How real estate may fare in Fargo, North Dakota

Fargo’s notoriety, at least as a pop culture reference, has been on the rise since the release of a Coen brothers’ comedy in 1996 and recent success of the television series it inspired. But when it comes to property values in the Fargo, ND-Moorhead, MN, MSA, the projected rise will be modest at best, according to VeroFORECAST projections. Read analysis …

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FHA: We saw appraisal issues on 37% of HECM loans

By jguerin@housingwire.com The FHA’s investigation into possible appraisal inflations on reverse mortgage loans revealed an issue the agency decided it must address. The FHA said Monday that out of the 134,000 appraisals it reviewed, approximately 50,000 were inaccurate by at least 3%. FHA Commissioner Brian Montgomery said it was hard to know how many appraisals will be flagged for a …

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FHA to require second appraisal on select reverse mortgages

By jguerin@housingwire.com The Federal Housing Administration announced Friday that it will require reverse mortgage lenders to provide a second property appraisal on loans flagged by FHA as potentially having an inflated property valuation. The agency said the move is intended to reduce risk to the Mutual Mortgage Insurance Fund, which will ultimately ensure the long-term sustainability of the program. Via:: …

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FHFA: Home prices increase 0.2% in July

Home prices increased in July, inching forward 0.2% from June, 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 once again saw the strongest appreciation growth. Via:: FHFA: Home prices increase 0.2% in July       

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Restarting motor city

Five years ago, Detroit, the principal city in the Detroit-Warren-Livonia, Michigan Metropolitan Statistical Area, was declaring bankruptcy with debt estimates as high as $20 billion. This summer, those troubles seem comfortably in the rearview, according to the latest VeroFORECAST, which shows that real estate values in the nation’s 14th most populous MSA are predicted to increase at an average of …

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Is a home improvement loan worth it? Goldman Sachs, HouseCanary team to help borrowers decide

By blane@housingwire.com Goldman Sachs appears ready to continue growing its home improvement lending business, and it’s going to use one of the housing industry’s data leaders to help them do it. Goldman Sachs is partnering with HouseCanary to launch a “Home Addition Calculator,” which will help borrowers figure out if a home addition is worth it or not. Via:: Is …

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Is a home improvement loan is worth it? Goldman Sachs, HouseCanary team to help borrowers decide

By blane@housingwire.com Goldman Sachs appears ready to continue growing its home improvement lending business, and it’s going to use one of the housing industry’s data leaders to help them do it. Goldman Sachs is partnering with HouseCanary to launch a “Home Addition Calculator,” which will help borrowers figure out if a home addition is worth it or not. Via:: Is …

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This southern MSA's property values keep rising

This southern city is predicted to see a 7.6% rate of real estate appreciation over the next year and is ranked 39th out of 354 MSAs analyzed in Veros’ latest VeroFORECAST. Where is it? Read more to find out. Via:: This southern MSA’s property values keep rising       

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