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Monthly Archives: October 2011
Weekly Wrapup: A true turnaround or just bobbing and weaving?
On Wednesday, The Christian Science Monitor reported: “The latest data is showing that the average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) remained flat at 4.22% since last week while the purchase application volume increased 6.4% and the refinance application climbed 4.4% over the same period,” but by Friday, MortgageBankRates.com was reporting: “Mortgage rates are higher today, Friday, October 28, 2011… Continue reading
Appraiser Tales of Terror!
Appraising is an adventurous profession that can take you to interesting places, but there’s always the possibility that your next assignment will take you to the house no one wants to enter. The Boogieman’s house. (Valuation Review)
With Halloween lurking just around the corner, Valuation Review gathered some spooky stories sure to chill the bones of… Continue reading
Tech Thursday: Mobile Apps on the Rise
Just 18 months ago just over half (51 percent) of the top 100 brands had mobile applications published, but a report released today from mobile analytics firm Distimo shows that the majority of brands are now in the mobile applications space.
Ninety-one percent of the top 100 brands now have a presence in at least one… Continue reading
Low Appraisal Valuation: Statistical Aberrations or Roadblock to Housing Recovery?
Of the many likely sources contributing to ongoing housing market weakness (e.g., the overhang of distressed and vacant homes; tight credit; poor job prospects; negative income shocks to many would-be first-time homebuyers; disappearing equity on the part of potential trade-up buyers), appraisal valuation –- a key underwriting requirement for screening the risk of mortgage loans in the event of borrower default –- has come under criticism for its alleged role… Continue reading
Posted in Appraising, Valuation
Tagged low appraisal valuation, National Association of Realtors, Residential Price Index, RPI
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The iPhone 4S, Six Days Later
Six days ago, I was lucky enough to purchase the iPhone 4S from our local Verizon Wireless store. I got the very last 16GB black iPhone 4s that the store had in stock, and before last Friday I had never been an iPhone user. Verizon started carrying the iPhone 4 about two months after I made my previous phone upgrade… Continue reading
Optimism Abounds at ABS East in Gloomy Miami
Attendees of the ABS East Conference might not have expected rainy weather or gloomy predictions in Miami this week. But Bill Rayburn greeted Morning View callers with his usual optimism as he and Bob Dorsey kicked off the day’s broadcast live from the Fontainebleau on Miami Beach.
For perspective, Bob Dorsey recalled the words of ABS East keynote speaker Pimm Fox of Bloomberg. “He totally depressed everyone [Sunday]… Continue reading
Weekly Wrapup: Signs of the Times?
Just as fall marks a change in nature’s cycles of growth, several business stories this week seemed to hint that from consumers to economists, all eyes were on any possible signal that the housing market was beginning to enter a new season. On Monday, the Wall Street Journal took note of the very vocal protest movement that has plagued New York of late and has threatened to similarly afflict Chicago… Continue reading
Tech Thursday: Wireless Subscriber Connections Surpass U.S. Population
A recent survey conducted by CTIA, an international association for the wireless telecommunications industry, shows that the number of wireless subscriber connections has surpassed the population of the United States.
The current population of the United States is 315.5 million, and the number of wireless subscriber connections is up to 327.6 million, which is a 9… Continue reading
How can confidence in the housing market be restored?
In this week’s FNC Morning View, Bob Dorsey said the mortgage industry faces two problems: a glut of REO properties and uncertainty from potential buyers. The Ranieri, Rosen plan (Plan B, proposed by MBS expert Lewis Ranieri and real estate economist Kenneth Rosen) provides a good approach to paring down that REO surplus. Dorsey explained:
“They’ve proposed to Congress a plan where people who can’t qualify for… Continue reading
Posted in Mortgage
Tagged Bill Rayburn, Bob Dorsey, confidence, housing market, Plan B, Ranieri, Rosen
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Report: Protesters Gather Outside of MBA Site
“Roughly 150 protesters gathered at the Hyatt Regency in Chicago Monday afternoon, protesting the Mortgage Bankers Association as some of the the trade group’s members looked on and snapped photos.” Source: HousingWire
FNC employees attending the MBA’s 98th Annual Convention captured this shot.
The MBA, expecting around 1,500 anti-Wall Street protesters at the… Continue reading
Posted in Mortgage
Tagged MBA Conference, Mortgage Bankers Association, photography, protesters
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