Comment on Smoking Gun Allows Appraiser to Sue over Blacklisting by Olen Soifer

I see that a lot of the replies are from appraisers, and I am a former appraiser and forensic analyst…but now primarily a mortgage broker. And now I am seeing “low-ball” appraisals coming in increasingly. This article keeps repeating “if an appraiser submits a fair appraisal”. OK, but what if the report isn’t fair? What if the appraiser is obviously choosing comps that are lower than representative of the subject property? What if the appraiser overadjusts the comps downward? What if the appraiser applies more “weight” to the least appropriate rather than the most appropriate? You tell me!olen

Source: Working RE Magazine

Casey Crawford’s online Movement Bank takes off

Back in June 2017, Movement Mortgage CEO Casey Crawford purchased First State Bank, a Danville, Virginia-based bank, with hopes of creating an online bank. Now that’s starting to pay off. In a new interview with the Charlotte Business Journal, Crawford explains that growth for the bank is going to be a “continual process” but many changes have happened already.
Source: HousingWire Magazine

Freddie Mac misses low-income housing goals in 2017

The Federal Housing Finance Agency released a new report showing Freddie Mac did not meet all of its low-income housing goals for 2017. Fannie Mae, on the other hand, met all of its low-income housing goals. The FHFA explained this decision is preliminary and could change based on the GSEs’ response.
Source: HousingWire Magazine

Rent just hit an all-time high… again

With more and more renters feeling the affordability crunch, there seemed to be some light on the horizon recently with the steady rise in rents appearing to finally slow down over the last few months. Nevermind. As it turns out, rents are still going up and just hit an all-time high, again.
Source: HousingWire Magazine

Freddie Mac CEO: I’ve done what I came here to do

Donald Layton announced in early September his plans to retire, saying he would step down as CEO in the second half of 2019. Now, as he prepares to step down, Layton explained in an interview with HousingWire that he reached his two main goals during his time as CEO.
Source: HousingWire Magazine

Freddie Mac continues growing multifamily business in third quarter

The multifamily gravy train kept rolling for Freddie Mac in the third quarter, with the government-sponsored enterprise continuing to increase its originations and overall portfolio. Freddie Mac reported Wednesday that its third-quarter multifamily originations increased by 2% over last year to $47 billion. Additionally, Freddie’s multifamily guarantee portfolio increased 3% from the prior quarter to $226 billion.
Source: HousingWire Magazine

Kroll tells bond investors SFR market helps hedge portfolio in housing downturn

Earlier this week, the Structured Finance Investment Group held its annual Residential Mortgage Finance Symposium in New York City. Kroll Bond Rating Agency kindly emailed a recap to everyone who couldn’t make it and provided some color around prevailing views on the single-family rental space.
Source: HousingWire Magazine

Freddie Mac reports income of $2.6 billion in Q3

Freddie Mac reported Wednesday it posted a comprehensive income of $2.6 billion in the third quarter of 2018. However, the company reported its single-family origination volumes decreased by 6%. FTN Financial Group analyst Jim Vogel highlights that the current system has become dependent on outside capital.
Source: HousingWire Magazine

MBA: Mortgage applications fall 2.5%

Mortgage applications fell 2.5% for the week ending October 26, 2018, according to new data from the Mortgage Bankers Association’s weekly Mortgage Applications Survey. MBA AVP of Economic and Industry Forecasts Joel Kan said purchase applications may have been adversely impacted by the recent uptick in rates and significant stock market volatility.
Source: HousingWire Magazine

ADP: Economy adds 227,000 jobs in October

U.S. employment rates climbed further, rising in every sector in October, according to the ADP and Moody’s Analytics National Employment Report. ADP Research Institute Vice President and Co-Head Ahu Yildirmaz said despite a significant shortage in skilled talent, the labor market continues to grow.
Source: HousingWire Magazine