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Results: 1995 Articles found.
April 2022

Consumer Financial Protection Bureau Seeks to Prevent Algorithmic Bias in AVMs

The Consumer Financial Protection Bureau on Feb. 23 outlined several options it's considering to ensure that the computer models used to help determine home values are accurate. CFPB wants to protect against data manipulation, avoid conflicts of interest and institute random sample testing of automated valuation models.

 
April 2022

Northeast and Upper Midwest are at Greatest Risk for Home Price Declines: Report

Areas in the Northeast and Upper Midwest are at high risk for home price declines due to high unemployment and low income and population growth, according to the December CoreLogic Market Risk Indicator, GlobeSt.com reported March 17. Areas considered overvalued but with low risk of price declines include Destin, Naples, Cape Coral and North Point in Florida, and Austin, Texas.

 

April 2022

Many Homes Sell for More than $100,000 Over Asking: Redfin

Nearly 6,000 homes sold for more than $100,000 over asking just this year as homebuyers become more competitive in their efforts to outbid others, Redfin reported March 8. At this point last year, 2,241 homes had sold for $100,000 over asking. The Los Angeles metro area is leading the way, with 718 homes commanding at least six-figures above asking since January.

 
April 2022

Single-family Rents Soar, See 10 Consecutive Months of Record Highs: CoreLogic

Single-family rent growth increased 12.6% in January — triple the gain recorded last year — marking the fastest year-over-year increase in more than 17 years and the 10th consecutive month of record rent increases, CoreLogic reported March 15 in its Single-Family Rent Index. Miami; Orlando, Florida; and Phoenix recorded the greatest rent increases.

 
April 2022

Freddie Mac Changes Automated Appraisal Waiver Process on Cash-out Refinances

Freddie Mac announced March 16 that it's transitioning from automated collateral evaluation appraisal waivers for cash-out refinance mortgages and certain no-cash-out refinances to ACE+ PDR. Effective July 17, the new offering will allow the aforementioned refinancing to be completed without appraisals, but the on-site collection of property information by trained data collectors using Freddie Mac’s proprietary dataset will be required.

 

April 2022

Conflict in Ukraine Likely to Effect US Housing: Fannie Mae

The conflict in Ukraine could result in significant risks to the U.S. housing market, Fannie Mae’s Economic and Strategic Research Group reported March 17. The 30-year fixed rate is expected to rise to 3.8% this year and 3.9% next year. Meanwhile, housing sales are expected to decline 4.1% this year.

 
April 2022

Foreclosures on the Rise as Level of Activity Returns to Pre-pandemic Levels: Data

Foreclosures increased 11% between January and February, and filings are up 129% year-over-year as the level of activity returns to normal following two years of artificially low rates due to foreclosure moratoriums, ATTOM reported March 10.

 
April 2022

Number of ‘Zombie’ Properties Up as Foreclosures Increase, Data Shows

Nearly 230,000 U.S. homes are in the process of foreclosure this quarter, and 7,363 of them are sitting vacant, hence zombie property status, a number that is down 0.9% from the fourth quarter but up 10.3% from the same point a year ago, ATTOM reported Feb. 24. New York, Ohio and Florida have the most zombie properties.

 

March 2022

Foreclosure Activity Highest Since COVID Outbreak: Data

Residential foreclosures rose to their highest level in nearly two years, up 29% between December and January and 139% from one year ago, ATTOM reported Feb. 10. The increase in foreclosures follows a typical lull during the holiday season, but were still higher than usual due to the expiration of the foreclosure moratorium.

 
March 2022

Agencies Say USPAP Needs Clarity Regarding Bias and Federal Law Requirements

Multiple agencies, including the National Credit Union Administration, the Federal Housing Finance Agency and the Federal Reserve Board, sent a letter to The Appraisal Foundation Feb. 4 saying there aren’t “clear warnings about the requirements of federal law in the standards it sets, and in the training it provides for appraisers” with regard to alleged bias. The agencies requested changes to the 2023 edition of the Uniform Standards of Professional Appraisal Practice.

 
Results: 1995 Articles found.

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