As regulatory institutions provide some clarity to the mortgage market, the National Association of Home Builders insists the market is in need of a sound and functional appraisal system.
Read More »Case-Shiller Price Indices See Big Yearly Gains in November
Despite seeing a month-over-month drop, the 10- and 20-city Case-Shiller Home Price Indices registered their strongest year-over-year improvement in two and a half years, Standard & Poor's reported Tuesday. On an annual basis, the 10-city index was up 4.5 percent, and the 20-city index rose 5.5 percent. It was the strongest yearly gain in the 10-city index since June 2010 and in the 20-city index since May 2010. Year-over-year, prices were up in 19 of the 20 cities surveyed.
Read More »Solidifi and Kirchmeyer Announce Consolidation Deal
Two of the nation's independent appraisal management companies have joined forces, turning Solidifi into the third-largest residential real estate valuations firm in the U.S. Releasing an official statement, Solidifi announced that it had completed a consolidation deal with Kirchmeyer & Associates as part of the growth strategy the company initiated in 2012.
Read More »Companies Partner, Develop Cloud-Based Mortgage Valuation Software
Level1Loans and IntraPrise Solutions, Inc., announced a new joint venture to provide cloud-based mortgage valuation and other financial modeling software to owners and managers of mortgage and mortgage-related assets.
Read More »Mortgage Fraud Falls in Q3, Remains Concentrated in Some Areas
Interthinx's mortgage fraud index dropped to 137 in the third quarter of this year, down 7.7 percent from the previous quarter and 4.5 percent from the same quarter a year ago. Two states--California and Florida--accounted for more than half of the very high risk metros. The number of metro areas considered "very high risk" increased by one in Florida, bringing the state to 17, while California's total stayed flat at 19. Merced, California, led as the riskiest metro, and the state held six out of the top 10 metros most at-risk for fraud.
Read More »Companies Collaborate for Residential Asset Monitoring Module
Smithfield & Wainwright is teaming up with Marshall & Swift/Boeckh to launch a new, automated solution for evaluating properties and resulting portfolios of mortgage loans. Releasing the Residential Asset Monitoring (RAM) module, the companies' initiative will give banks and lenders a more comprehensive, "forward-looking" method for assessing the value of residential real estate and, ultimately, their portfolio health and compliance procedures.
Read More »Homeownership Increases in Q3, Rate Remains Flat
The number of owner-occupied homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) remained near historic lows, hovering at 65.5 percent. The stagnant homeownership rate combined with a decline in the number of units held off the market suggests opportunities for home sales.
Read More »Case-Shiller Price Index Reaches 2-Year High in August
U.S. home prices continued to increase in August as the Case Shiller 20-city Home Price Index rose 0.9 percent to its highest level since September 2010. The index is up 2.0 percent in the last year, showing improvement in 19 of the 20 cities surveyed. The 10-city also rose 0.9 percent in August, increasing 1.3 percent ahead of August 2011 and reaching its highest level since October 2010. The monthly gain in each index was slower than in July, when the 10-city index went up 1.5 percent and the 20-city index improved 1.6 percent.
Read More »Bradford Technologies Launches Appraisal Tool for Regression Analysis
Bradford Technologies announced the release of CompCruncher 2.0, a tool that enables appraisers to evaluate markets using regression analysis.
Read More »Clear Capital: ‘Fiscal Cliff’ Could Send Prices Tumbling
Recent gains in housing are closely linked to rising consumer confidence, according to numbers juxtaposed and analyzed by Clear Capital in its latest report on home price movements. The feeble underpinnings of price increases, however, could soon topple, according to the real estate valuation company. Threatening to temper consumer sentiment--and in turn, home prices--is the fear Congress will not act in time to avert the looming "fiscal cliff" of $500 billion in tax increases and spending cuts that lie in wait at year-end, Clear Capital warns.
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