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 winners of our Insiders award are people who get things done, who are known throughout their companies as the “go-to” person in their department or division. They provide expertise in areas as diverse as operations, compliance and client services, but also have a reputation for going above and beyond their assigned roles to help out their colleagues, their companies and their clients.
In May of 2016, Airbnb had almost 1.4 listings on the site and raised its revenue projection for this year to more than $900 million. But the site impacts more than just hotel chains. As more investors, not just homeowners, use the site to rent out spare rooms — and even spare couches — it strains the supply of rental houses.
A funny thing happened while the mortgage process became more automated. Rather than reduce human interaction, which some skeptics anticipated, automation technology is in fact having the opposite effect. It is enabling mortgage lending to become a people-first business once again.