In general, appraisers can adjust down a comparable valuation dollar for dollar with the value of seller concessions.

The GSEs and FHA should publish daily rate sheets with disclosures on interest rates for mortgages locked the previous day, according to analysts at the Urban Institute. The analysts likened their proposal to the manufacturer’s suggested retail price seen for cars and books.

Consumers are feeling little optimism for the 2024 housing market as affordability concerns continue to push would-be buyers away from purchasing a home next year.

Lower interest rates have been particularly impactful in the market for new homes; MBA projects a mild recession in the first half of 2024; new MISMO working group initiated by the GSEs; technology for closing disclosure forms.

Regional differences in mortgage closing costs largely explain the seemingly irrational “failure to refinance” of some borrowers when rates fall.

An increase in the number of borrowers with non-traditional income sources has led more lenders to consider automated and AI-based underwriting practices, according to Ocrolus, a tech vendor.

A recent jury decision against NAR, HomeServices of America and Keller Williams Realty may change how real estate agent commissions are structured.

Guaranteed Rate-owned Owning says it can offer mortgage rates which are half a percentage point lower than competition by leveraging proprietary technology and specific underwriting criteria.

Lenders gravitated toward lower loan-to-value ratios and higher credit scores with their deliveries to the GSEs in the third quarter.

VantageScore expanded the borrower base; mortgage interest rates increased for seventh consecutive week; Blend tech offering for nonbanks; MISMO updates.