Investor, AVM, Lead Conversion, Anti-Fraud Products; Quontic’s No Ratio Program

Vice President Dan Quayle sagely observed, among other things, “If we don’t succeed, we run the risk of failure.” Is our housing market in danger of failing? Hardly. But lenders, big and small, continue to engage in personnel cutbacks, and grappling with companies offering all-cash programs as highlighted in the STRATMOR Group piece. But, like a marathon runner hitting mile 20, there are signs of weariness and the press is flooded with housing news. Attom Data reports a “jump” in foreclosures: 259,000 properties around the nation are in some stage of foreclosure, up nearly 13 percent from the 1st quarter. (The nationwide foreclosure moratorium, imposed early during the Coronavirus pandemic, was lifted at the end of July 2021.) On the builder side of things, what lender or LO doesn’t want their business? “Toll Brothers closed 9,986 homes in 2021… the 11th largest home builder in the U.S. based on closings had between 200,000 and 250,000 qualified leads over the year, or about one lead every two minutes.” Arch MI released its quarterly Housing and Mortgage Market Review (HaMMR) report with a concerned Millennial on the cover. “Home-price growth surprisingly accelerated early this year, as the Standard & Poor Case-Shiller U.S. National House Price Index climbed to 19.8% year over year through February, up from 18.8% through the end of 2021 but still just below the 20/0% record high reached last August… Affordability is now worse than historical norms in all states but four, with the Northwest and Mountain West generally the least affordable along with Florida, Vermont and Hawaii… (Today’s podcast is available here and this week’s is sponsored by Change Wholesale with its proprietary Community Mortgage program. There are no bank statements, employment, or DTI requirements, allowing brokers to deliver more prime loans to more credit-worthy borrowers like small business owners, gig workers, retirees, and anyone else searching for home financing.)