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Why US Property Retains Its Value Compared to Other Global Markets Nov 08, 2023

Show notes

Property is the world’s largest asset class, so any fluctuation within this market has far-reaching effects. Just consider how property values in countries like Australia, New Zealand, Canada, the U.K., and the U.S. have sent ripples throughout the global economy.

There are many factors that affect the housing market, and one is the amount of investment activity. Investors contributed to the dramatic home price growth seen in recent years. The surge in investor activity significantly impacted home prices, but the precise extent of this influence remains a subject of ongoing debate among economists.

Another factor affecting the property market is interest rates. When these rates plummeted several years ago, housing prices surged across the world. Then rates began to climb, and the substantial home price gains seen in the aforementioned countries began to correct. But home prices in the U.S. have remained above their 2020 peak, defying expectations.

That leaves the question: Why is the U.S. an outlier in the property market?

In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Professional Economist Thom Malone to discuss the effect that the U.S. securitized mortgage system and investor activity has had on both the national and global property markets.

In This Episode:

2:04 – What has happened to housing prices since the pandemic and what makes 2023 such a pivotal year?

5:47 – Who are the investors that are participating in the market? Who are the mega investors and what role do they play?

8:33 – How has investor activity impacted home prices?

10:54 – Erika Stanley goes over the numbers in the housing market in The Sip.

12:05 – What is happening in the world of international housing prices?

14:16 – What are the advantages and disadvantages of the U.S.’s securitized mortgage system?

19:53 – Maiclaire Bolton Smith and Thom Malone talk about their experiences speaking with friends from their home countries about buying a house in the U.S.

Links:

Read CoreLogic Intelligence

Up Next: What Is the Future of Mortgage Interest Rates in the Current Real Estate Market?

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

How Can Property Technology Delight Mortgage Customers and Widen the Net for Lenders? Aug 02, 2023

Show notes

In the ever-evolving landscape of the property market, recent years have been marked by volatility and unprecedented challenges. However, amidst this shifting environment, there is an opportunity for lenders to reassess their back-of-house operations and embrace the transformative potential of modern technology.

As the market cools, the stage is set for lenders to revolutionize their processes and cater to the demands of today's discerning consumers. The key lies in embracing automation and digitization to streamline operations and create a seamless borrower experience.

In this episode of Core Conversations, host Maiclaire Bolton Smith sits down with Praveen Chandramohan, an executive in origination solutions at CoreLogic to discuss how automated underwriting, digital mortgage software, and property technology intertwine to define the future of the mortgage market. From improved borrower experiences to cost optimization, this conversation unveils the transformative power of embracing property technology and mortgage software in the ever-evolving mortgage landscape.

In This Episode

0:54 – What are the top priorities for lenders according to a Fannie Mae survey? And how will these priorities solve the “industry conundrum”?

4:28 – Digitizing a cumbersome process begins behind the scenes.

8:53 - Are there ways that technology can widen that net and increase business?

10:21 – How will technology lead the charge in creating new business?

12:42 – Erika Stanley provides the Natural Disaster Digest.

13:33 – Praveen offers some real-life examples of how technology is opening the door for self-employed borrowers and those who prefer to use digital currencies.

Links: 2023 Hurricane Risk Report

Up Next: Modernizing Loan Origination Workflows: A Shortcut Through the Mortgage Maze

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

How Can Property Data Influence Processes to Simplify Mortgage Loan Origination? Jun 21, 2023

Show notes

Modernization can be boiled down to an equation. The more data and automation available to improve the overall mortgage origination process, the more the overall cost to originate the loan goes down.

In fact, one of the industry’s largest organizations, the Mortgage Industry Standards Maintenance Organization (MISMO), is working steadily to streamline the mortgage origination process by replacing paper forms with digital processes.

In this episode, host Maiclaire Bolton Smith sits down with Sage Nichols, an executive for client success at CoreLogic, to talk about how standards, best practices and property data can pave the way for modernizing the mortgage industry.

In This Episode:

0:45 –Why is digitizing data the No. 1 priority for customers?
1:50 – How do standards around property data contribute to affordability? High cost to originate
2:55 – What are the challenges surrounding the adoption of these standards?
5:34 – The Natural Disaster Digest with Erika Stanley
6:32 – How is MISMO blazing the path to simplify the mortgage closing process (hint: e-closings are important)
9:09 – How exactly does accurate and reliable property data reduce the likelihood of fraud?
10:33 – What’s next for MISMO?

Up Next: Appraising PropTech Innovation: Do Short-Term Changes Have Long-Term Effects?

Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

Will Wildfire Risk Mitigation Requirements Change the California Insurance Industry? | Part Two | 2 Mar 08, 2023

Show notes

In Part 2 of this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic’s director of Insurance Market Strategy for Hazard and Risk Management about how insurers will need to access big data to effectively translate homeowner wildfire mitigation efforts into insurance discounts.

Catch up on Part 1 here.

Find full episodes with these guests in our podcast archive here: https://clgx.co/3zqhBZt

In This Episode:

1:21 – what exactly is the difference between a risk score and a CAT model?
3:15 – A brief primer on rate filings
3:41 – How do homeowners benefit from wildfire risk scores in their policies?
8:46 – What is the cost of providing transparency to homeowners?
9:43 – How can we be more resilient to natural hazards?

Appraising PropTech Innovation: Do Short-Term Changes Have Long-Term Effects? Jan 25, 2023

Show notes

Most of us don’t have enough money in the bank to buy a house in cash. We need to convince someone to lend us the money. Listen to host Maiclaire Bolton Smith talk to CoreLogic Chief Appraiser Shawn Telford and learn about how banks are leveraging PropTech to determine the worth of a home, as well as the consequences that innovation has on markets, loans and affordability.

Learn more about how technology is transforming the property industry by following along with CoreLogic analysis: https://clgx.co/3zqhBZt

In this episode:

1:17 – Who is Shawn and how did he end up in real estate?

3:19 – How did 2022 market conditions create challenges (and opportunities) in appraising?

5:03 – How will home price growth and inflation affect the future of appraising?

8:00 – How do you compare home values in a volatile market?

11:35 – Appraising staff shortages make room for remote desktop appraisals

13:26 – Are appraisal waivers here to stay?

16:16 – How was the pandemic a catalyst and a lingering influence for digitization?

18:39 – What do digital opportunities mean for the development of the appraisal industry?

22:01 – What is coming up for lenders, appraisers and homeowners?

What Are the Effects of Natural Hazards on Mortgage Delinquencies? Nov 03, 2021

Show notes

Natural disasters can have long-term effects on a community. As noted in our 2021 Hurricane Report, lower-income homeowners are left with few options when homes are destroyed. When affected homes are deemed unsuitable for habitation, displaced people may resort to living at motels and similar, creating added expenses. Natural catastrophes can result in financial hardship as people struggle with additional expenses.

In this episode, host Maiclaire Bolton Smith sits down with Amy Gromowski, senior leader of science and analytics at CoreLogic, to discuss financial implications as a result of natural disasters.

Is There Actually a Lumber Shortage? Jul 28, 2021

Show notes

In the U.S. lumber prices were up 54% year over year as of the second quarter of 2021, and this trend reflected across the globe. In simpler terms, the cost to build just about anything, but in particular homes, skyrocketed. These price increases go well and beyond normal demand surge.

To unpack this, host Maiclaire Bolton Smith sits down with construction aficionado Glenn Bearden. He peels back what's really causing this—from the pandemic, to labor problems, all the way to the core of human behavior.

What Do Tomorrow's Smart Cities Look Like? Jun 16, 2021

Show notes

The future, complete with interconnected and coordinated utilities and buildings, can help people live better. Whether it's managing a city's power supply or the flow of traffic, mitigating for burst pipes or improving delivery service accuracy, smart cities are the next big leap in fundamentally reimagining how we live. And this future is closer than you might expect.

In this episode, host Maiclaire Bolton Smith talks to data enthusiast Ty Tucker about the possibilities--and risks--of the smart world before us.

How Do We Solve the Affordable Housing Crisis? Apr 07, 2021

Show notes

April is Financial Literacy Month, and to recognize the importance of the topic, Core Conversations host Maiclaire Bolton Smith sits down with Pete Carroll to talk about the Affordable Housing Crisis in the U.S.

Homeownership is a major pathway for people build and grow wealth, so when buying a home becomes increasingly expensive, those who don't already own one are locked out of achieving economic mobility. He shares the connection between financial literacy and homeownership and how we can help our most economically vulnerable secure the opportunity to rise up.

How Can Californians Protect Their Homes from the Next Big One? Jan 20, 2021

Show notes

Earthquake are unique: they come without much warning and they can be incredibly destructive. California, in particular, is notorious for its propensity for earthquakes, yet the earthquake insurance uptake rate in California remains very low.

In this episode of Core Conversations, host (and earthquake seismologist) Maiclaire Bolton Smith sits down with Shawna Ackerman, Chief Risk and Actuarial Officer for the California Earthquake Authority (CEA) to talk about the 1994 Northridge earthquake, how homeowners can better prepare for the next Big One, and what the future holds for the CEA.

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