TagsApple appraisal Appraisal Institute appraising Bank of America Bill Rayburn Bob Dorsey BP CMS Dodd-Frank economy Facebook Fannie Mae Federal Reserve Florida FNC FNC Morning View FNC Residential Price Index foreclosure Freddie Mac GAAR Google GSEs Gulf Coast home prices housing housing market housing prices housing recovery HVCC mortgage National Association of Realtors National Collateral Database oil crisis Residential Price Index RPI smartphone social media social networking technology Tech Thursday Twitter U.S. housing market webinar Weekly wrapup
Category Archives: FNC
I have been hearing a great deal of noise lately about the increasing cost of compliance in mortgage lending. There has always been a cost associated with compliance, but the seemingly unprecedented quantity of new regulation coupled with a new regulator has created a new reality. The patterns of the past can’t be used to make sense of the future. Projects with Dodd-Frank in the title abound throughout the lending… Continue reading
Home prices in the Birmingham-Hoover, AL, metropolitan statistical area decreased by 0.32% for the month of December as indicated by the FNC Residential Price Index™ (RPI). The slide in prices marks the fourth consecutive month of depreciation for this market. Furthermore, the percentage of home sales that were distressed reached 19.54% — a 1.4% gain over November’s figure of 19.27% and a 39.47% increase over September’s figure of 14.01%… Continue reading
Oxford, Miss. (Jan. 15, 2014) – The latest FNC Residential Price Index™ (RPI) shows U.S. home prices continuing to rise at a modest pace despite at a flatter rate when compared to the spring and summer months. This trend largely reflects a decline in housing activity. The index, constructed to gauge underlying property value based on non-distressed home sales only, was up 0.5% in November despite greater downward pressure from… Continue reading
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