Valuations

Existing home sales come down off 10-year high

January still shows annual increase
Existing home sales slipped down off last month’s decade-high, but remained above last year’s levels. But considering January’s drop in pending home sales to the lowest level in a year, this decrease comes as no surprise.
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Former HUD senior advisor Richard Green: Here are the issues with Trump's budget

Ginnie Mae staffing levels and FHA infrastructure will both suffer

Late last week, Julián Castro, who served as secretary of the Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama, told HousingWire that he has several issues with President Donald Trump’s budget proposal, which calls for a $6.2 billion cut to HUD’s budget. But Castro isn’t the only former HUD official to express concerns with Trump’s budget.


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Monday Morning Cup of Coffee: Trump tapping familiar face to lead DOJ's civil division?

What will become of False Claims Act charges under new leader?
It looks like President Donald Trump is about to install a familiar face as the leader of the Department of Justice’s civil division. If that happens, what happens to the DOJ's recently preferred tactic of using the False Claims Act to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration? The answer, and more, in your Monday Morning Cup of Coffee.
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In major reversal, U.S. sides with PHH, calls CFPB structure unconstitutional

DOJ asks court to give president authority to fire CFPB director at will
Recently, the U.S. government began to give off indications that it might be switching sides in the landmark battle between the CFPB and PHH, signaling that the Trump administration would not be as supportive of the CFPB as the Obama administration had been. And Friday, that's exactly what happened. Click the headline for the full story.
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[Charts] NAR survey breaks down problems plaguing appraisal industry

Including what’s happening with appraisal trainees
Not only does the appraisal industry have problems, but there is also a lot of disagreement around what exactly those problems are. This new survey of appraisers from the National Association of Realtors should help give more insight on what’s going on. What will it take for the appraisal industry to start training future appraisers?
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Are you overestimating your home value?

That might depend on where you live
Many homeowners are overestimating the value of their home, with their estimates coming in above appraised values. And that gap grew even wider in February. However, this is much less true for homeowners on the west coast, where home prices are rising faster than homeowners can keep up with.
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Number of underwater homes plummets in Q4

1 million borrowers regain equity in 2016
More than 1 million borrowers regained equity in 2016 as home prices continue to rise across the nation, and the number of homes currently underwater plummeted 25% annually. But this gain in equity was more pronounced in states with hotter markets and rising home prices.
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Consumers have never felt better about housing than they do right now

Fannie Mae survey shows consumer confidence reaches all-time high
Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae. Fannie Mae’s latest Home Purchase Sentiment Index shows that consumer confidence in housing hit an all-time high in February, continuing a climb in confidence that began in January.
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Homeowners fuel HELOC boom as home prices soar

Home equity loans up 21% in past two years
Home equity lines of credit are on the rise as increasing home prices bring a wealth of equity back into homeowners’ hands. But experts explain why despite this increase, and a decrease in down payment percentage, lending is still much safer than the housing boom days.
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