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Monthly Archives: January 2011
FNC’s Collateral Management Conference 2011 in San Antonio is one clients won’t soon forget. From riding a saddled long-horn steer, line dancing, and roasting marshmallows over an open fire to becoming connoisseurs of flavor-infused tequilas, the Texas Hill Country offered unique experiences with western flair.
But more important was the deep industry knowledge gained during the two days of back-to-back sessions, featuring some of the nation’s most influential experts… Continue reading
Although appraisers and underwriters have different roles in mortgage lending, their responsibilities are interrelated. Common goals focus on making certain that appraisal reports are well documented and the valuations are supported. Reviewers, quality control personnel, real estate brokers and agents also share these goals.
This past summer I took a continuing education seminar through the Appraisal Institute entitled, “Whatever Happened to Quality Assurance in Residential Appraisals: Avoiding Risky Appraisals and… Continue reading
The administrator of BP’s $20 billion oil spill claims fund returns to the Gulf Coast this week amid increasing complaints that the program is failing to compensate many in need.
Attorney Kenneth Feinberg will meet tomorrow with residents, business owners and fishermen in Bayou La Batre and Orange Beach along the Alabama coast. He heads to the Florida Panhandle on Wednesday.
Last week, Feinberg was greeted in Mississippi… Continue reading
A study released by mortgage technology company FNC, Inc. indicates the importance of an accurate appraisal in representing the true value of residential property—something often misrepresented in a privately negotiated sales price.
“When fundamental market inefficiencies – high transaction costs, low information transparency and low liquidity, combined with substantial asset heterogeneity – commonly underlie real estate transactions, it’s easy to understand why privately-negotiated prices can often misrepresent a property’s true… Continue reading
by Associated Press – Published: January 25,2011
MISSISSIPPI GULF COAST — Mississippi is still seeing some lingering, visible effects from the 2010 BP oil spill in the Gulf of Mexico, the director of the state Department of Environmental Quality told lawmakers Jan. 24.
“We have isolated and sporadic tar balls still coming on the Mississippi shoreline,” Trudy Fisher told members of the House Conservation and Water Resources during… Continue reading
First a little background…
FNC’s data and analytic products are fueled by our National Collateral Database™ (NCD), a robust collection of property information shared with us by our lender clients and appraiser customers. The foundation of the NCD is comprised of addresses of properties nationwide, gathered from the county assessors in almost every U.S. county. FNC products depend on the value of collateral, also known as parcels or properties… Continue reading
Nearly 40% of Realtors surveyed by the National Association of Realtors blame low appraisals for cancellations or delays of pending sales. But a new FNC research report, supported by real-time appraisal data, shows that more than 60% of these appraisals exceeded pre-closing contract prices. On average, appraisal value was 1.7% higher than contract price.
This information seems to confirm that residential real estate appraisers are taking great care to study… Continue reading
As the saying goes, “An optimist stays up until midnight to see the New Year in. A pessimist stays up to make sure the old year leaves.” Whatever your outlook, this is the time of year when most of us access the events of the past year and plan ahead for a brighter future.
We want to first thank our valued clients for their business, ideas and continued support… Continue reading