Tom Millon is the CEO of Capital Markets Cooperative, a Computershare company. Capital Markets
Cooperative provides products and services to a nationwide network of more than 400 companies. Tom is
considered one of the nation's top executives in the mortgage capital markets and is a recognized author, frequent speaker, and expert in mortgage finance.
A surging non-QM market wouldn’t just be good news for non-QM players. It’s good for everybody. The housing market desperately needs a greater diversity of mortgage products and extending credit to deserving borrowers will produce a dynamic, vibrant and more efficient marketplace.
The appraisal industry is in the midst of huge disruption as automated valuation models and hybrid appraisal products gain favor with regulators and investors. What does the future hold for appraisers and appraisal companies as they adjust to the new realities of automation?
As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy.
There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.