True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Fraud risk factors at closing increased almost 90% last quarter

A variety of risk factors could be contributing to the drastic increase in wire and title fraud risk factors in mortgage and real estate closings – for example, compliance issues and an increase in transaction data errors.

MortgageAppraisals & Valuations

As expected, appraisal volume plummets after Thanksgiving holiday

Housing market moves into the holidays

Appraisal volume, to no surprise, tumbled in the latest report due to the Thanksgiving holiday.

For the week of Nov. 20, appraisal volume plummeted 30.3%, according to the latest National Appraisal Volume Index from a la mode, which is provided exclusively to HousingWire.

However, to put this in perspective, a la mode noted that appraisal volume averages a 30.6% drop for the week, so this year is right in line with expectations.  

The significant decline comes after last week’s positive report when appraisal volume finally posted an increase after weeks of decline.

The holiday did skew the 4-week average down to -8.3%, which will take a month to drop off.

Check the chart below to see appraisal volume over the past four weeks.

Click to enlarge

appraisal volume

(Source: a la mode)

As a reminder, appraisal volume is an indicator of market strength and holds some advantages over weekly mortgage applications.

For example, fallout is less for appraisals since they are ordered later in the mortgage process, after creditworthiness is determined, and there are few multiple-orders, by the time an appraisal is conducted.

Most Popular Articles

Volume-hungry mortgage lenders loosen credit standards

Mortgage credit availability loosened up in April by 2.2%, per the MBA. The drivers were in conventional mortgages and GSE programs for ARMs and high-balance loans.

May 11, 2021 By

Latest Articles

Compass loses money, explores mortgage

Compass is exploring either building a mortgage arm, buying a mortgage company or following the lead of other resi brokerages and entering into a JV.

May 12, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please