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Housing Price Forecast Turns Negative

Eric Fox, Chief Economist at Veros, commented, “This decrease to an average depreciation of -0.5% over the next 12 months is the first time in over a decade that Veros’ average house price forecast has gone negative."

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Wells Fargo Stepping Back From Mortgage Market

Wells Fargo

Wells Fargo has announced the move to shrink its mortgage portfolio and close its correspondent business. Going forward, WF will now offer home loans to existing bank and wealth management customers and borrowers in minority communities.

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OCC Annual Report: State of the Federal Banking System

Among the OCC’s highlights from the past year was its work with the Property Appraisal and Valuation Equity (PAVE) Task Force in advancing property appraisal and valuation equity to help close the racial wealth gap and address mis-valuations for families and communities of color nationwide.

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