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Results: 10 Articles found.
May 2022

Foreclosure Activity Reaches Post-pandemic High in Q1, ATTOM Report Reveals

Foreclosure filings during the first quarter jumped, rising 39% from the previous quarter and 132% from the same point last year, ATTOM reported April 21 in its Q1 2022 U.S. Foreclosure Market Report. Despite the increase, foreclosure filings remain 57% below where they were during the first quarter 2020.

 
May 2022

FHA Proposes 40-year Loan Modification Rule for Borrowers, Seeks Public Comment

The Federal Housing Administration on April 4 published a proposed rule to raise the maximum loan modification term limit from 30 years to 40, MBA NewsLink reported. Mortgagees could offer a 40-year loan modification option to borrowers who wouldn’t otherwise qualify. Public comments are due by May 30.

 
May 2022

Home Prices Increase at Record Pace, Led by Sun Belt States, CoreLogic Reveals

Residential real estate prices increased 20% year-over-year in February, marking the highest 12-month growth since at least 1976, CoreLogic reported April 5. Sun Belt states led the way for rising prices, with Florida properties up 29.1% over 12 months, followed closely by Arizona (prices up 28.6%) and Nevada (prices up 25.8%).

 

May 2022

Home Prices Not Aligned with Economic Indicators: Report

Home prices are out of step with economic fundamentals such as the price-to-rent ratio and price-to-income ratio, according to the Denver Fed, GlobeSt.com reported April 4. The fear of missing out is spurring homebuyers and investors to purchase now, which contributes to inflated home prices and a future correction — but likely not a bust.

 

May 2022

Demand for Manufactured Housing Increases: Report

The demand for manufactured housing is growing, with vacancy in the sector down significantly, especially in the Great Lakes and Great Plains regions, according to Marcus & Millichap, GlobeSt.com reported April 12. Investors are targeting the sector, anticipating that more consumers will consider manufactured housing amid rising apartment rents and home-purchase costs.

 
May 2022

Residential Real Estate Remains Strong, Lower-end to Get Inventory Boost: Realtor.com

A strong housing market has been a boon for sellers, with 80% of recently sold homes commanding prices above asking, Realtor.com reported April 6. Those planning to list a home for sale this year are expected to do so by August. Notably, 43% of prospective sellers anticipate listing their home for $350,000 or less, increasing inventory for a market segment with severe shortages and intense competition.

 

May 2022

AI Asks Supreme Court to Review Ruling on Floor Plans

The Appraisal Institute on April 7 joined the National Association of Realtors and 17 other organizations in filing an Amicus Brief with the Supreme Court pertaining to a lower court ruling that would allow copyright infringement lawsuits to be filed against individuals, including appraisers, who make floor plans of a home.

 
May 2022

Housing Market Activity, Economic Output to Slow, Fannie Mae Forecast Predicts

The Federal Reserve is expected to tighten monetary policy through 2023, which could further soften economic output, Fannie Mae’s Economic and Strategic Research Group reported April 19. The projected downturn is not expected to mirror the severity of the Great Recession due to higher mortgage credit quality and a stronger real estate and mortgage finance system, among other things.

 

May 2022

Appraisal Institute Has Rejoined TAF as a Sponsor

The Appraisal Foundation announced March 31 that the Appraisal Institute has rejoined TAF as a sponsor. Appraisal Institute President Jody Bishop, MAI, SRA, AI-GRS, said he is very pleased that AI has rejoined as a sponsor, noting that it allows the organizations to immediately strengthen their ongoing collaboration and amplifies their joint efforts with other key stakeholders now and for years to come.

 
May 2022

Proposed Bill Would Scrap The Appraisal Foundation, Release GSE Appraisal Data

A draft discussion bill sponsored by House Committee on Financial Services Chair Maxine Waters would replace The Appraisal Foundation with an independent federal agency that would be responsible for overseeing valuation standards and appraiser criteria, HousingWire reported March 31. The bill, aimed at combating bias in the appraisal process, would also make public the trove of appraisal data held by government-sponsored enterprises.

 
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