Valuations

First-time homebuyers struggle amid rising affordability challenges

Can only afford 20% of housing stock in some markets
A new study from NAR and realtor.com shows affordability continues to slip across the U.S., falling even further from last year as home prices continue to rise and mortgage rates increase. NAR explained that while wages are increasing, so are home prices. Here’s what can be done to combat the rising affordability issues.
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Trend spotting: Appraisers take issue with Fannie Mae's Collateral Underwriter

Still several mortgage lender benefits to using this tool
[Op-ed] Is it fair to have 10 different appraiser's reports on a property and then for the lender to use that knowledge against an individual appraiser and question their ability to provide an accurate report? Appraisers seem to think it is unfair or perhaps altogether irrelevant. As an underwriter, here's one trend I'm seeing.
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CoreLogic acquires a la mode

Claims it’s the next step to its end-to-end valuation solution
CoreLogic, a property information, analytics and data-enabled services provider, announced Thursday that it acquired a la mode technologies as part of the continued growth of its valuations division. But appraisers are wary of the change, asking, “what doesn’t CoreLogic own?”
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Should borrowers be charged AMC fees and appraiser fees separately?

There are two sides to mortgage lending valuations at play here
The appraisers I speak to paint the AMCs as part of some large conspiracy to nickel-and-dime their way to big profits. The AMCs I speak to believe they are vital to maintaining the arms-length regulatory requirements set forth by Dodd-Frank. Are the AMCs hiding something? Maybe, maybe not. But, there is certainly something missing.
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King County is king, and counting

Seattle continues to lead in home price growth
Seattle's rate of real estate appreciation has topped the national charts for more than a year and, based on the latest quarterly forecast from Veros Real Estate Solutions, will stay there for the next 12 months. Here is a breakdown on real estate growth in Washington's King County.
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AMCs respond to FHFA report they bring little value to appraisals

Just as likely to make mistakes
When commissioning an appraisal, do AMCs provide a better valuation to mortgage lenders? The FHFA says no and AMCs are not happy: "Our review of the research has uncovered real concerns about the methodology, measures of quality, errors and the insertion of staff opinion that seems to indicate bias."
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CoreLogic: Home prices increase for seventh consecutive month

Western states see increases in the double digits
Home prices continue to surge, rising for their seventh consecutive month in February. And growth in the Western states was even higher, breaking double-digit increases in home prices. However, CoreLogic’s latest report shows these surges in home prices will soon see a slowdown.
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