Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Coronavirus

The apartment market goes on a rollercoaster ride

There is a silver lining

The apartment market is going through some ups and downs.

May 2020 electronic payment volume, compared to February 2020, increased 14% and was driven by card payments, a report from MRI Software said. Card usage for May 2020 was up 58%, as compared to February 2020.

It’s possible that more renters are struggling to make ends meet, said MRI Software.

According to Brian Zrimsek, industry principal at MRI Software, “while we applaud the use of electronic payments, which bring convenience to renters and landlords alike, the use of credit cards could signal increased risks if residents are paying with cards because of restricted cash flows as opposed to a desire to accumulate reward points.”

On a positive note, new 12-month leases were up 12% in volume in May 2020 compared to May 2019, the report said, and 12-month renewals were 7.4% higher in volume year over year.

“Other findings are more encouraging,” Zrimsek continued. “Although many residents are choosing to stay where they are, the rise in traffic indicates that moves and applications could increase as the economy stabilizes. And the increase in 12-month leases shows that landlords are thinking strategically, ensuring that lease terminations coincide with what will likely be a busy season in 2021.”

Traffic to multifamily communities shows signs of recovery and is rising to pre-pandemic levels, yet applications and the number of move-ins are still behind 2019 levels – down 21%.

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3d rendering of a row of luxury townhouses along a street

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