Valuations

ATTOM names states with highest property tax rates

Owner-occupied hold higher tax rates than investment properties
A new report from ATTOM Data Solutions shows property taxes came in at $277.7 billion in 2016, or more than $3,000 per home. And taxes were higher for owner-occupied homes than for investment properties. The report shows which states had the highest property tax rates and which ones saw property taxes of more than $10,000 annually.
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Hensarling to CFPB's Cordray: You deserve to be fired immediately

Tells CFPB director to his face that he needs to go
Never one to shy away from a chance to batter the Consumer Financial Protection Bureau, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, didn’t disappoint on Wednesday when Richard Cordray, the director of the CFPB, appeared before the committee. Hensarling was at his passive-aggressive best during his opening statement, poking at Cordray’s rumored political aspirations and telling Cordray, to his face, that he deserves to be fired by President Donald Trump.
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Trump: We're going to do a very major haircut on Dodd-Frank

Tells gathered CEOs that administration is "absolutely destroying" regulations
In the words of President Donald Trump, the era of “horrible regulations” is coming to an end. On Tuesday, during a gathering of some of the CEOs of the country’s largest companies, Trump told the crowd that his administration is working hard to “destroy” many of the regulations holding back the private sector - including Dodd-Frank - and plans to continue doing so.
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Millennials lead other generations in rising HELOC trend

HELOCs expected to replace dwindling refis
As interest rates rise, refinances continue to decrease, leaving an open gap in the market for home equity lines of credit to take the place. Interest rates are up from last year, but so are home prices, giving homeowners a new source of equity to tap into. Most surprising, however, was that Millennials hold the leading share of HELOCs.
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Freddie Mac: Affordability to hold back home sales in 2017

Plummeting refis could bring down originations 25%
The squeeze in housing inventory is sending home prices even higher, creating declines in affordability and putting a pinch on prospective homebuyers. Freddie Mac also predicted a drop in mortgage originations of 25%, however the report showed this will come almost entirely from plummeting refinances.
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Pending home sales rebound to highest level in a year

Hit second highest level this decade
Pending home sales rebounded from January’s decrease, hitting the highest level in almost a year and the second-highest level in a decade. NAR’s chief economist commented that buyers came back in force last month as a modest, seasonal uptick in listings was enough to fuel an increase in contract signings throughout the country.
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Mercury Network acquiring Appraisal Scope

Deal combines two valuation management software platforms
Last year, Mercury Network, an appraisal management system, announced plans to expand by acquiring Platinum Data Solutions, a QC technology company. And it turns out that the company is not done growing, as the company announced this week that it is acquiring Appraisal Scope, a provider of valuation management software.
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