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Cover Story

Nearly 17K Homes Suffer Damage From Southern Tornado Path in January

By Sasa | January 20, 2023
According to CoreLogic, hail, straight-line winds, and tornadoes from a January 12 severe thunderstorm system damaged approximately 16,800 properties across areas of Mississippi, Alabama and Georgia. CoreLogic estimates the overall damage to these single- and multifamily residential properties was a combined reconstruction value (RCV) of $4.5 billion. Not all properties within the tornado footprint suffered […]
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January 19, 2023 Default ServicingGovernmentIndustry News

The Hurdles Ahead

As the restfulness of the holidays slips into the rearview mirror and the mortgage industry returns to face the turmoil, surprises, and victories of a new year. While the housing landscape is, for the most part, no longer under the ponderous shadow of a global health crisis, there are plenty of challenges to be navigated. […]
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January 18, 2023 Industry News

Renewable Energy Goals Will Define Future of Housing Policy

The Biden-Harris Administration have released a new U.S. National Blueprint for decarbonizing transportation to attain their goal of cutting all greenhouse gas emissions by 2050 for transportation.  The blueprint, which was jointly developed by the Department of Housing and Urban Development, Department of Energy, and the Enviromental Protection Agency. This is another continued effort by […]
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January 18, 2023 Industry NewsMarket Trends

What Cities are Best for First-Time Buyers?

Realtor.com, a proper source of information on current and future housing trends, has predicted the 10 hottest markets for first-time homebuyers, as affordability continues to be a chief concern among them.  The new study, weighed a number of metrics including availability, unemployment, commute time, and forecasted sales growth.  This year, the top markets for first-time […]
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January 18, 2023 Industry NewsMarket Trends

Mortgage Apps Surge With Near-30% Weekly Rise

The year 2023 began with the 30-year fixed-rate mortgage (FRM) dropping 15-basis points, reaching lows last seen in September 2022, and buyers responded, driving overall mortgage application volume up 27.9% week-over-week, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2023. The Refinance Index continued to show […]
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January 18, 2023 Default ServicingIndustry NewsWebinars

Improving Tech Processes for Mortgage Servicers

On Wednesday, February 8 at 1:00 p.m. Central, the latest in the Five Star Webinar Series will be held in partnership with OrangeGrid, “Getting Servicing Technology Approved: From Concept to Completion in 90 Days.” The Five Star Institute Webinar Series aims to broaden the horizons of the mortgage industry. It’s the best source for complimentary […]
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January 18, 2023 Industry NewsLending/OriginationsMarket Trends

The Science of Appraisals

This piece originally appeared in the January 2023 edition of MReport magazine, online now. The property valuation process, specifically appraisals and automated valuation model (AVM) algorithms, has come under attack of late as discussions around potential bias and/or discrimination in housing markets have come into the spotlight. Coming out of the pandemic and the housing boom it […]
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January 17, 2023 Default ServicingGovernmentIndustry News

HUD Makes Nearly $570M Available for Housing-Related Hazards

The U.S. Department of Housing & Urban Development (HUD) has announced two historic Notices of Funding Opportunities (NOFOs) that will make homes healthier and safer for low-income families. With this investment, since 1993, HUD has made more than $2.7 billion available to protect children, families, and individuals from exposure to lead and other hazards in […]
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January 16, 2023 Industry NewsMarket Trends

How Digitalization Is Transforming Residential Real Estate

According to a new report from Harvard’s Joint Center for Housing Studies, big data and the growing use of data analytics are transforming how residential real estate is bought, sold, and managed—often in ways that are making it easier for investors to convert single-family homes into rental units. The impacts of the changes—particularly whether they […]
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Closing

Rent Rises Faster Than Home Prices; Still More Affordable Option

By Sasa | January 19, 2023
ATTOM Data released it’s 2023 Rental Affordability Report, which as a whole, still finds renting the best option in the vast majority of markets compared to owning a comparably sized median-priced home.  However, this news comes with a few caveats. The main one being that both renting and owning a three-bedroom home are significant financial […]
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