There are 95 Collateral Underwriter messages that affect appraisers, and the majority are the same issues they’ve dealt with for years. So yes, there will be an adjustment period as with any change, but end times are not near.
In our experience with numerous lenders and AMCs, appraisal quality assurance is typically one extreme or the other: too manual or too automated — both leading to inconsistent or ineffective results. If any of these 10 warning signs sound familiar, it’s time to implement a procedural change for compliance and a defensible position that results in better lending decisions.
In the past year, we’ve seen several announcements and compliance deadlines on the same topic: The importance of appraisal quality assurance. In an environment with so many new requirements and market challenges, it’s not surprising many lenders are afraid they’re not keeping up with all the regulations.
The darlings of 2014, the single-family housing investment and rental businesses, didn’t dominate like last year, but they still had a strong showing. After snagging four of the top five spots on the 2014 HW Fast50, two SFRs placed in the top five in 2015 and three made the top 50..
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process. Read More