Appraisals

After taking a deep dive in March and April due to the pandemic, housing sales throughout the Twin Cities rebounded in May, coming back strong to even make up lost ground.

The South Florida housing market is experiencing its highest overvaluation in eight years. Still, a housing crisis is unlikely, one expert said.

Borrowers gained over $6 trillion in home equity since the Great Recession ended and the relative health of the housing market should stave off a coronavirus-induced collapse, according to CoreLogic.

The measures extended by the Federal Housing Finance Agency include alternative methods used for certain appraisals and for verification of employment.

A $740 million jury verdict against Amrock was thrown out by a Texas appeals court that said tech firm HouseCanary failed to prove the big title insurer stole its trade secrets to build a competing real estate analysis tool.

The social distancing related limitations on home appraisals is inspiring some companies to find new ways to advance the process.

After over two years of falling delinquency rates, the burgeoning unemployment following the coronavirus economic shutdown will bring a surge of outstanding mortgages.

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.

Net income grew by nearly 1,990% year-over-year as its core mortgage services businesses gained scale.

The National Credit Union Administration is giving lenders and borrowers extra time to complete appraisals to ensure mortgages are still being completed despite the pandemic.

January saw the lowest mortgage delinquency rate in over 20 years, according to CoreLogic.

New York's Real estate agents, home inspectors and residential appraisers are now considered "essential employees," according to the Empire State Development agency.

Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for loans submitted for Federal Housing Administration insurance in 2010.

Consumer needs are in flux and Top Producers were looking at technology and risks associated with unexpected financial challenges as areas where they weren't yet meeting those needs. The coronavirus only intensified the urgency.

As social distancing related to the coronavirus complicates work for appraisers, real estate agents and construction lenders, professionals turn to technology and, in some cases, ask consumers to pitch in.

The percentage of mortgages underwater — when a mortgage exceeds value — has decreased dramatically in South Florida since the Great Recession, meaning the region may be better prepared to weather COVID-19 than the downturn a decade ago.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

Mortgage industry technology providers are adjusting their processes to allow for originations to keep flowing through the system as the nation combats the coronavirus.

The Federal Housing Administration is making coronavirus adjustments while warning of possible delays as the industry anticipates a new wave of borrowing due to the Federal Reserve's latest short-term rate cut.