Industry News Blog

04/20/2011

What is reasonable and customary for one appraiser might not be for another, and what an AMC or bank thinks is customary and reasonable for an appraiser could be way off.  Vague rules put into affect April 1 are causing confusion with those involved.  

Click here to read an article at Appraisal Institute that discusses the issue and the different views being...

04/18/2011

Anyone in the mortgage profession knows how much paperwork is involved, and for processes to go correctly, you need accuracy with numbers, amounts, and dates.  Here's a story about the current mess in foreclosures and how for some borrowers, the mortgage companies mistakes have turned out to be their blessing in disguise.

Click here to read the CBS News story "Mortgage Paperwork Mess:...

04/15/2011

It appears the government would like to sell of its properties that aren't being utilized, however, some important data seems to be lacking to be able to complete these transactions.  One might assume from comments made from Government Accountability Office director David Wise that the government has little knowledge of which real estate investments are actually generating revenue.  

04/14/2011

More studies are addressing and/or revealing the pressure that has been on appraisers from lenders to overstate values for the sake of qualifying mortgage loans.  This new study, discussed in a Mortgage News Daily story written by Glen Setzer points to appraisal fraud as one of the biggest factors to blame for the current mortgage crisis.

Click here to read the article and see what some...

04/11/2011

Over the past several years many in the mortgage profession have pointed fingers at one or more different types of industry professionals, blaming one particular segment more than another for the market collapse.  Who really is to blame?  There are good business people, and there are bad business people.  It comes down to who let the evil in, and who continued to perpetrate it.  Let's at least give credit to those who tried to stop it.

04/05/2011

Appraisals in the New York area have been increasing in accuracy as the market tries to make a recovery.  Appraisers say there is more information to help them with better assessment and valuations. 

Click here to read The Real Deal article by Sarah Gross.

04/04/2011

It appears some republicans are seeking to repeal the Dodd-Frank financial regulations, citing economic suffocation and employment opportunities moving overseas as reasons to overturn the law.  Do you think that the new law will have a negative impact on the economy?

Click here to read the Associated Press article at Boston.com.

03/30/2011

New rules spawned by the Dodd-Frank Act are being proposed to make loans safer, and  promote responsible lending practices.  Being proposed is a minimum 20% down payment on all loans that would be sold to Fannie and Freddie as well as an adjustment to income and debt ratio requirements.

Go here to read the article written by Alan Zibel of The Wall Street Journal...

03/29/2011

Freddie Mac released the results of its Primary Mortgage Market Survey that shows rates are on the rise.  The 30-year fixed rates averaged 4.81 percent and 15-year fixed averaged 4.04 percent. Freddie VP and chief economist, Frank Nothaft, said rates are still relatively low but were up due to higher than anticipated inflation data for February and ongoing geopolitical concerns.

Click here to read the...

01/21/2011

All the homes that have gone into or are headed for foreclosure, an estimated 1.7 million, are creating a bottleneck in the progress of a recovering housing market.  Here is a great article from AppraisalNewscast that explains the "why" and "what next" for this complex situation.

Click here to read CNNMoney's Les Christie's article on AppraisalNewscast.