In today’s competitive mortgage market, consumers expect simplicity, security, and convenience when it comes to mitigating the numerous processes associated with buying a home.
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In today’s competitive mortgage market, consumers expect simplicity, security, and convenience when it comes to mitigating the numerous processes associated with buying a home.
Read MoreTopics: Lenders, eTrac Enterprise Solutions, Mortgage Companies, technology, Compliance, Appraisal Process Management, Credit Union
The Appraisal Institute recently announced that it has issued a second edition of “Valuation by Comparison” by Mark Ratterman, which examines the common pitfalls that appraisers encounter when searching for data. This updated version also presents online search tips that can help practitioners find information in markets where data is scarce, inconsistent, or misleading.
Read MoreTopics: Lenders, Appraisers, AMCs, residential mortgage industry, Tips, Appraisal Process Management, releases
A crucial component of the mortgage lending process is the appraisal of the borrower’s prospective property. Managing this process without the proper tools, however, can be labor intensive, inefficient, and lead to costly inaccuracies that do nothing but lengthen turn-times.
Read MoreTopics: Lenders, appraisal technology, eTrac Enterprise Solutions, AMCs, Mortgage Companies, cloud computing, residential mortgage industry, mortgage software, Appraisal Process Management, Credit Union
The Commercial MISMO® (CMISMO) workgroup will soon be collaborating on updates to the organization’s commercial appraisal data standards, which haven’t been revised in nearly 10 years.
Read MoreTopics: Lenders, appraisal technology, Mortgage Companies, MISMO, Appraisal Process Management, Credit Union, Commercial
Appraisal reviews are an essential component of the valuation management process – ensuring both accuracy and compliance. Many software platforms, however, only allow their users to complete these reviews on the backend, leaving lenders in the dark as to what is being flagged on their appraisals.
Read MoreTopics: Lenders, appraisal technology, collateral management, eTrac Enterprise Solutions, Mortgage Companies, Compliance, MISMO, MARS, Appraisal Process Management, Credit Union
Washington state has officially implemented HB 2057, which is designed to combat zombie properties and streamline interactions between city governments and lending institutions to help prevent urban blight.
Read MoreTopics: servicers, Lenders, Mortgage Companies, Compliance, Regulations, Credit Union
Fannie Mae and Freddie Mac recently announced that they have launched an initiative to update the Uniform Appraisal Dataset (UAD) and uniform appraisal reporting forms to provide greater clarity for industry participants, simplify appraisal reporting and reviewing, and to build a foundation for appraisal modernization.
Read MoreTopics: Freddie MAC, GSE, Fannie Mae, Lenders, appraisal technology, AMCs, Mortgage Companies, UAD, Uniform Appraisal Dataset, appraisal forms, Appraisal Process Management, Credit Union
The U.S. Senate recently confirmed Brian Montgomery as the Assistant Secretary of the U.S. Department of Housing & Urban Development (HUD) and Commissioner of the Federal Housing Administration (FHA) by a vote of 74-23.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Credit Union
Efficient turn-times are an essential component of the mortgage lending process, especially in today’s fast-paced market environment. Timely real estate appraisals play a vital role, yet many appointments are scheduled at the vendor’s discretion – which can lead to unforeseen delays.
Read MoreTopics: Lenders, appraisal technology, Vendor Management, eTrac Enterprise Solutions, AMCs, Mortgage Companies, residential mortgage industry, Appraisal Process Management, releases, Credit Union
After passing through the Senate back in March, the U.S. House of Representatives recently passed S. 2155—or the “Economic Growth, Regulatory Relief and Consumer Protection Act”—which was immediately signed into law by President Trump.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, Dodd-Frank Act, Credit Union
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