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[ad_1] China new home prices down less in Dec on promotions, easing curbs [ad_2] Source link

[ad_1] Railway PSU Braithwaite & Co has been declared a Miniratna-1 category company as the government also plans its merger with Rail India Technical and Economic Services (RITES). Braithwaite chairman and managing director Yatish Kumar said the company would go by what the government decides. A railway board official, meanwhile, said that the merger was a part of the plan to restructure six railway PSUs, proposed by Sanjeev Sanyal, chief economic advisor to the finance minister. The idea was to merge Rail Vikas Nigam (RVNL) with Indian Railway Construction (IRCON), Railtel Corporation with the Indian Railway Catering and Tourism Corporation (IRCTC) and Braithwaite with RITES. The announcement was likely to be made in the Budget, the official said. Kumar added that Braithwaite has become a debt-free company and it has been awarded Miniratna-1 status since it has already achieved above Rs 30-crore profit before tax and has been reporting net profit for consecutive three years, a criteria for getting Miniratna -1 status. The company will likely end the fiscal with a Rs 700-crore turnover, up from `609 crore achieved in FY21. The company’s turnover was Rs 130.89 crore in FY 18. Kumar said at the company level, Braithwaite was eyeing an IPO in 2025-26 and aims a turnover of Rs 2,500 crore by then. [ad_2] Source link

[ad_1] The tides of the mortgage industry are changing as we head into 2022, and just like the sand under the waves, we can expect the appraisal landscape to shift along with it. Appraisers, like many other service providers, must adapt to market changes to accommodate their clients’ needs. Whether it is providing appraisal services, underwriting services or title services, a mortgage application cannot proceed without their input.  We have reviewed and analyzed recent stakeholder and government data, and we are pleased to deliver the following analysis and predictions for 2022. Current volume and trends It is fairly well-known that the appraisal industry has a supply and demand issue. Freddie Mac recently released trend analysis of appraisal activity for appraisals submitted to the Uniform Collateral Data Portal. This data clearly illustrates the issue:  Appraisal volume exceeded the high-water mark of 700,000 monthly submissions to the appraisal data warehouse on multiple occasions in 2021. Prior to 2020 it was a rare occurrence for volume to exceed 600,000 per month.  The number of appraisers completing appraisals for transactions eligible for sale to the GSEs has remained relatively flat.   In addition to the supply and demand issue in 2021, we also saw continued challenges around appraiser throughput, appraisal turn times and appraisal fees. 2021 also introduced change at the policy level, as appraisal waivers began to slow down and the FHFA’s announcement to allow desktop appraisals.  We’ll dig deeper into each of those topics below, but first we’ll explore one of the biggest driving forces on appraisal: market volume.    2022 Outlook for volume Mortgage rate predictions for 2022 by industry stakeholders show rates for 30-year fixed mortgages to range from 3% to 4%. As of this writing, in 2021, 31 of 45 weeks had mortgage rates below 3%. The last time the 30-year mortgage rate was at or above 3.5% was in March of 2020. Prior to that, we have to go back to October 2016 to see rates at 3.5% or below.   Meanwhile, the Mortgage Bankers Association (MBA) is forecasting purchase mortgage originations to increase 9% in 2022 and refinance originations to decrease by 62%. Appraisal demand from generators (i.e., HELOC and private clients) is expected to remain stable to slightly declining.  How does this impact appraisal volume? Mathematically, the MBA predictions result in a loss in demand between 30% to 35% for appraisals associated with mortgage originations. As application volume is anticipated to shift from predominantly refinance activity to purchase activity, we anticipate the demand for appraisals in the mortgage sector to decline 15% to 20% with other demand generators pointing toward stability or slightly declining. In a recent Fitch Ratings analysis on nonbank mortgage origination outlook, analysts stated that “rising rates fueled by the tapering of Fed asset purchases and home price appreciation from the growing disparity between housing supply and burgeoning demand are also expected to contribute to lower volumes and margins into 2022.” Appraiser supply It is worth addressing the overall appraiser supply here as well. Analysis of appraiser credentials in the U.S. shows continued decline. According to 2021 data from the Appraisal Institute, the current number of state-issued appraiser credentials is 93,309, which is more than 3,000 fewer credentials cited in a 2019 Appraisal Institute study, which put the number of credentials at 96,856 in 2016. Attrition and supply continue to be a market concern.  Efforts to date to bolster the ranks of credentialed appraisers has resulted in reducing the rate of decline, but decline continues nonetheless. Perhaps diversity, equity and inclusion efforts by industry stakeholders and the Appraisal Foundation’s PAREA efforts may bear fruit in the future; however, significant impacts to increase the ranks of qualified appraisers are not anticipated in 2022.   Appraiser productivity According to our analysis of data released by both Freddie Mac and Fannie Mae, the count of active appraisers based on mortgage activity has been mostly flat since 2018, with minor fluctuations. The rise in sales and refinancing activity in 2021 resulted in increased appraiser productivity, ranging between 50% to 100% per appraiser.  How does this convert on a per appraiser basis? With 40,000 appraisers having their appraisal work submitted to the GSE appraisal portal, the median throughput level pre-2020 was approximately 10 appraisals per month, or 2.5 per week. From 2020 through 2021, that throughput level increased to 15 to 20 appraisals per month, or 3.75 to 5 appraisals per week.    And while appraisers have shown they have adjusted processes to produce at a higher level of output on a weekly basis, no significant process changes are anticipated to contribute to be a drag on productivity.    Turn times Unfortunately, a centralized source measuring market-level appraisal turn times does not exist. Data is often limited to anecdotal experience by individual lenders, users of appraisal services and reporting by a handful of appraisal management companies. In general terms, prior to 2021, it was common for appraisals to have an average turn time between 9 and 12 days. Based on analysis of three national AMC quoted turn times on their websites, in 2021, the turn time range expanded to 8 to 21 days. Those states having the fewest number of appraisers often show the longest cycles. These numbers are in line with what we see lenders experiencing using the Reggora platform.  While pipeline volume plays a large part in the equation, the geography and the supply of appraisers in particular markets are contributing factors and the range of turn times can vary significantly across localities within the marketplace.  The National Association of Realtors projects 2022 home sales activity to be slightly lower than 2021. As a result, we should expect to see overall appraisal turn times improve. To keep this in perspective, a 20% decline in demand when production is 3.75 appraisals per week results in a decline of one appraisal per week per appraiser. For locations where the supply of appraisers is abundant and the appraisal process itself can be completed in a standardized amount of

[ad_1] After the recent (and ongoing) mishap with Facebook basically hiding all of our posts from all of you, we decided to venture out and explore other social media outlets and creative ways to alert you about the deals we post each day. Our desire is always to serve you as best as we can and one thing many of you have asked for repeatedly is a way for us to text you every time we post a hot deal. We used to have this ability through Twitter, but then they closed that program. Up until this week, we thought there was no way to send out notifications to your phone unless we pay a really exorbitant amount of money to do so — and that really isn’t in line with our money-saving philosophies! But I’m so THRILLED to tell you that we found a way to do it through a messaging app called Telegram! It’s a super simple and basic app — and it’s FREE! Best of all, so long as you have notifications on, you don’t ever even have to check the app. All the deal notifications will pop right up on your phone when we post them. So you’ll never miss a deal because it has sold out before you could take advantage of it! How to Sign Up (And Never Miss Another Deal Again) If you want to get a message every time one of our hottest deals goes live and not have to wonder if or when you’re seeing our deals, follow these simple steps below: 1. Download the Telegram app — it’s free! (Apple users click here and Android users click here.) 2. Open the app and click on “start messaging.” 3. Enter your name and phone number. 4. A security code will be texted to you. Copy and paste the code into the security code field when prompted. 5. Click on this link from your phone to join our Telegram channel. Once you have the app downloaded and click on that link from a mobile device, our channel will open in your app. 6. Click the text at the bottom of the screen that says “Join.” You’re now subscribed to our channel! 7. Make sure notifications are turned on for our channel, so that you get notified of every deal we post. Just be sure to allow notifications when the app prompts you about it after signing up. You can also double check that channel notifications are on by going to settings at the bottom of the screen, then notifications and sounds, then channels. If you did everything right, you should start seeing notifications pop up each time we share a deal through Telegram — just like the image above! See how the deal pops up on the home screen of your phone?! You’ll never miss a time-sensitive deal again!! Note: If you decide later on that you’re getting too many notifications throughout the day, you will have the option to silence them or decide how exactly you’d like to be notified, so that you’re still subscribed to our channel but not missing any deals. You’ll always receive a visual notification within the app as seen in the above image. What is Telegram? Telegram is a messaging app that enables us to create our own private channel just for our readers! And we’re really, really excited about it! Here’s why… 1. No Algorithms! All of the other social media platforms you use to follow MoneySaving.comMom rely on confusing algorithms that hide 90% of our posts from you. That means if you depend on social media to see our deals each day, you’re missing 90% of the hottest deals we post each day! Telegram does not use any algorithms, because it’s a messaging app. You get to choose how and when you’re notified about our deals throughout the day! 2. Simplicity. We wanted a super easy way to allow our readers to subscribe to our deals and get notified as soon as they go live. And this is a great solution for us — and for all of you! It’s really easy to sign up and get started. 3. Immediate Notifications. We have heard from SO many of you who say that you miss deals because of delays on social media or email newsletters. By the time you see the deal, it’s already expired. When you follow our channel on Telegram, you’ll get notified about every single HOT deal we post throughout the day as soon as it goes live, so that you never miss another deal again! (And you get to choose how you’re notified — sound, badge, banner on your phone screen, etc.) That’s it!! Thank you SO much for joining us over on Telegram! We can’t wait to bring you the HOTTEST deals each day! [ad_2] Source link

[ad_1] U.S. grocery shortages deepen as pandemic dries supplies [ad_2] Source link

[ad_1] Prime Minister Narendra Modi will on Saturday interact with as many as 150 start-ups and seek their inputs on further driving innovation in the country. The participating start-ups, from sectors such as agriculture, health, enterprise systems, space, industry 4.0, security, fintech and environment, will be divided into six working groups. Each group will make a presentation before the Prime Minister on one of the six themes– ‘Growing from Roots’, ‘Nudging the DNA’, ‘From Local to Global’, ‘Technology of Future’, ‘Building Champions in Manufacturing’, and ‘Sustainable Development’. On January 16, 2016, launching an action plan on ‘Startup India’, the Modi government had envisaged for itself the role of only a ‘facilitator’ for investments, promising to cut the maze of red tape that had hampered the country’s economic growth for decades and squeezed employment opportunities. The Prime Minister’s latest meeting with start-ups comes at a time when a Covid-ravaged economy urgently needs businesses, including start-ups, to awaken their animal spirit and boost investments to spur growth. The government also wants to spur innovation by strengthening the start-up eco-system. [ad_2] Source link

[ad_1] if(typeof(jQuery)==”function”){(function($){$.fn.fitVids=function(){}})(jQuery)}; jwplayer(‘jwplayer_DdC7ZV90_5xQXXB63_div’).setup( {“playlist”:”https://content.jwplatform.com/feeds/DdC7ZV90.json”,”ph”:2} ); Hosted by Accurate Group Collateral valuation is a critical component of mortgage lending and the home sales process. During the course of the pandemic, mortgage professionals have seen origination volumes for refi and purchase skyrocket as they have simultaneously faced challenges of accessing properties and completing in-person inspections. The appraisal process is ripe for change, and we’ve seen an acceleration of innovation in the last two years. Listen to HW Media’s Editor in Chief Sarah Wheeler as she talks with industry experts on the role of appraisers as the industry moves forward. Panelists Paul DomanPresident & CEO,Accurate Group Sarah WheelerEditor in Chief,HousingWire Rick HillVice President, Industry Technology,MBA Get More Info hbspt.forms.create({ region: “na1”, portalId: “4509319”, formId: “37c52c09-f1c2-44fc-82e8-d7cee5ed0116” }); The post Lunch & Learn : The Role of Appraisers in the Future of Valuation appeared first on HousingWire. [ad_2] Source link

[ad_1] Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors Growth vs the Fed: the battle of 2022 This year’s battle for the markets is shaping up. In one corner we have ongoing economic growth. In the other corner we have the Fed.  Let’s get ready to ruuuuuuummmmbbbbllllle!!! When I made sense of 2021, we looked at commentary from LPL research that framed the growth prospects for 2022.  “An expanding economy is a great start, but stocks fundamentally derive their value from earnings. On the top line, the environment for companies to grow revenue next year should be excellent, with potential for above-average economic growth and some pricing power from elevated inflation. Revenue growth has historically been well correlated to nominal GDP growth, which is simply real GDP growth (the inflation-adjusted number that’s normally reported) plus inflation. Our 4% to 4.5% real GDP growth forecast for next year plus perhaps 3% inflation (about the consensus forecast for the increase in the Consumer Price Index) puts a 7% revenue increase in play.” Growth prospects are more than solid for 2022. We might be in line for another year of decent returns in the markets, barring any catastrophic and surprising event, often called a black swan.  Jamie Dimon, the CEO of JPMorgan Chase, is even giddier—he recently told CNBC:  “We’re going to have the best growth we’ve ever had this year, I think since maybe sometime after the Great Depression.” That said, one of the dominant themes from 2021 is still kicking around—that annoying thing called inflation.  It is the job of the U.S. Federal Reserve and its chair, Jerome Powell, to wrestle inflation to the ground. As I’ve said many times in this column, the main weapon of the central bankers is to raise interest rates so as to tame economic growth. If we lessen demand for products, that can help remove some of the inflationary pressures.  The risk is that they could go too far, too fast and trigger a recession.  When the Federal Reserve meeting notes were released last week, the suggestion for early rate hikes spooked the markets. Here’s a one-month chart for U.S. stocks, by way of iShares S&P 500 ETF (IVV).  Source: Seeking Alpha Stocks were sold off somewhat aggressively but started to recover late this week. Keep in mind, as I have mentioned, that Canadian stocks continue to be on a roll as many investors rotate to the value that we find in our markets. Value equals greater current earnings plus growth prospects. Canada’s stock market is also set up well, with greater weightings to inflation-friendly assets like financials, energy and commodities.  Here’s an interesting read from Lance Roberts (no relation), chief investment strategist at RIA Advisors: Fed Minutes Spook Markets Into Selloff.  Roberts frames what’s going on with the Fed and the markets. There are some fascinating charts and tables within that post, including the returns of the Nasdaq without the top 10 stocks.  Here’s the Nasdaq 100 vs the Ark Innovation ETF (ARKK), which largely invests in growth stocks that have yet to produce earnings.  Source: RIA Advisors  Roberts’ post also includes the spooky comments from the Fed minutes, including this doozy: “Participants remarked that inflation readings had been higher and were more persistent and widespread than previously anticipated.”  The word “participants” refers to other members of the Federal Reserve.  The remark essentially means, or could have read: “Hey, we were wrong about that transitory inflation thing.”  That reminds me of the Happy Days episode when The Fonz could not admit he was wrong or even say the word “wrong.” So maybe the Fed has Fonzie syndrome.   Another interesting chart and observation from Roberts’ post shows that years of very low volatility (2021 for instance) are often followed by years of much greater volatility.  Source: RIA Advisors  That volatility theme is playing out in early 2022. I’m guessing there is more of that to come.  Roberts also shares his asset allocation moves and tweaks. He’s a fan of owning some bonds. He’s a fan of playing some portfolio defense.  U.S. stocks have hit an all-time low with respect to the real (inflation-adjusted) earnings yield.  Another new historical low for S&P 500’s real earnings yield pic.twitter.com/h1fDFIs7ma — Liz Ann Sonders (@LizAnnSonders) January 13, 2022 Global dividends to exceed $2 trillion in 2022  With economies around the globe bouncing back, the dividends will continue to flow. This piece in Seeking Alpha frames the recent dividend decline and rebound.  “After an 8% pullback in 2020, global dividend payouts resurged by 21% last year and are expected to advance 6% further this year to top $2T, IHS Markit says in a new report.”  Canadian dividend investors might be smiling as the IHS Markit research suggests energy, financials and industrials will lead the dividend charge in 2022. Canadian bank shareholders are set to receive their juicy dividend increases starting this month.  U.S. dividends are expected to increase 5.4% in 2022. I would make an easy bet that the Canadian market will trump that dividend growth rate.  Global energy dividends are expected to grow by 22%. I’d make another wager that Canadian energy producers might top that global dividend flow rate. They are just gushing free cash flow.  Here’s an insight from the Seeking Alpha post:  “Dividend growth in emerging markets is expected to outperform developed ones, rising 23% in 2022.” Perhaps that’s a good sign for developing markets. Those indices have greatly underperformed during the pandemic.  For more on the prospects of Canadian dividend stocks, have a read of this article from Morningstar. It spoke to Les Stelmach, SVP and portfolio manager at Franklin Templeton Canada, and shared his thoughts:  “In terms of stocks, he has a favourable view on energy and financials. Within energy, he thinks investors should stick to high-quality companies with strong financial underpinnings like ARC Resources, Suncor Energy and Enbridge, which have all raised dividends recently. ‘ARC recently increased its dividend by 50% while at

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[ad_1] BlackRock assets cross $10 trillion, revenue slightly misses [ad_2] Source link