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Category Archives: FNC
At mortgage technology company FNC Inc., conference room conversations lead to knowledge and knowledge to solutions. Now, FNC is taking the conference room online and inviting readers of its new blog to join the conversation.
When the Home Valuation Code of Conduct (HVCC) was instituted, many lenders began outsourcing their appraisal procurement and other collateral valuation process to AMCs as they felt it was easier to stay in compliance using a third party. Putting it simply, HVCC was intended to increase oversight and eliminate improper pressure and relationships between lenders and appraisers. Since the advent of the HVCC, now replaced by the very similar Appraiser… Continue reading
The latest FNC Residential Price Index™ (RPI) shows the U.S. housing market continued to recover, recording in March the 13th consecutive price increase. In recent months, the ongoing housing recovery has maintained its pace with steady and persistent gains in home prices despite signs of continued job market weakness and soft economic growth.
Low interest rates continue to be a key driver of rising housing demand. The market… Continue reading
At this point almost every appraiser is at least aware of the Uniform Appraisal Dataset (UAD) appraisal requirements, if not an expert on them. But remember, the UAD requirements you deal with every day are only one part of the entire Uniform Mortgage Data Program (UMDP) that has been set up by the government-sponsored agencies (GSEs) Fannie Mae and Freddie Mac. A key part of the UMDP is the requirement… Continue reading
In today’s episode of FNC Morning View, Bill Rayburn and Bob Dorsey discuss an article in the New York Times by David Blanchflower and Andrew Oswald, “Challenge to Dogma on Owning a Home.” That article can be viewed here.
Rayburn: Today we’re discussing the whole relationship between unemployment and owning a home, which, on its face, runs totally opposed to the whole U.S. mindset of the American Dream… Continue reading
Though home foreclosures continue to be a challenge in many hard-hit markets, a report released this week by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul.
According to FNC’s Foreclosure Market Report, foreclosure prices have bottomed out in recent months and the foreclosure market has stabilized while underlying home values are rising… Continue reading
Demand for new mortgages is finally revving up—among big spenders, anyway.
Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales, according to an analysis for The Wall Street Journal by mortgage-technology company FNC.
It’s the latest sign that jumbo loans, defined as $417,000 and up in most places ($625,500 and up in high-cost areas), are boosting sales of… Continue reading
FNC’s latest Residential Price Index™ (RPI) indicates that U.S. property values continue to rise. Home prices reached a 20-month high following a robust spring/summer homebuying season. In August, home prices rose for the sixth consecutive month, consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities. Foreclosure sales, down from 23% a year ago to 17.4% in August, continue to play out… Continue reading
FNC was recognized Wednesday as one of the world’s top 100 financial tech companies, receiving a spot in the FinTech 100 (an annual list of top technology providers, sponsored by American Banker and Bank Technology News).
FNC CEO Bill Rayburn says “it’s a great honor for us to be recognized among the fastest growing financial technology companies in the world. This award is a tribute to our… Continue reading
Happy Fiscal New Year.
Last week it was announced that new home sales are up, at a seasonally adjusted annual rate of 373,000. From the bottom, that number is up nicely. But from the top, it’s way down. (Source: Calculated Risk)
As there were 141,000 new homes for sale last month, FNC’s Bob Dorsey says it should take four-and-a-half months until that inventory is clear.