Appraisers Raise Concerns Over Fannie, Freddie Automated Appraisals

Last week, both Fannie Mae and Freddie Mac announced their new appraisal-free products for purchase mortgages, but the appraisal industry is raising concerns over the automated appraisals, even accusing the GSEs of not bearing the consequences of the risk they are taking. Read more about this topic at: https://www.housingwire.com/articles/41097-appraisers-raise-concerns-over-fannie-freddie-automated-appraisals

Amazon Quietly Reveals Possible Expansion into Real Estate

As shoppers scoured Amazon’s website recently for its annual “Prime Day” deals, the online shopping giant quietly disclosed a new service coming soon to its users, which would embark into the world of real estate and turn it into a competitor with Zillow and Redfin. Tucked into the website’s Home and Business Services section, where users can receive quotes […]

Credit Unions Gain Mortgage Market Share

As the quarterly volume of residential loan production sank, credit unions successfully captured a bigger piece of the U.S. mortgage market.  $38 billion of the latest volume came from credit unions, according to data supplied to Mortgage Daily by Callahan & Associates.  Credit union lending consisted of $31 billion in first mortgages and $7 billion in other real […]

NAHB Releases Remodeling by Zip Cost Estimates for 2017

The National Association of Home Builders (“NAHB”) recently released its latest projections of spending on improvements to owner-occupied housing by zip code. The projections show total spending on improvements, the number of owner-occupied homes, as well as average spending per improvement, in each of over 26,000 zip codes for calendar year 2017. NAHB’s improvement spending […]

IRS warns of phishing schemes and other tax scams during the 2017 filing season

The Internal Revenue Service recently released a list of tax scams to watch for during the 2017 filing season.   Leading the list of tax scams for 2017 were phishing schemes, which involve fake email or websites that trick taxpayers or practitioners into giving personal information (such as Social Security numbers, credit card numbers, or […]