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Monthly Archives: May 2011
In less than a month (on June 27), Fannie Mae and Freddie Mac will begin accepting appraisal reports through an internet portal specifically designed to receive the property information and valuations as electronic data. FNC clients will be ready.
Wall Street, welcome to Web 2.0: Morgan Stanley is officially the first Wall Street firm to allow its employees to use social media interactively.
Morgan Stanley Smith Barney will begin to roll out the use of LinkedIn and Twitter in June, and hopes to have the sites available to all of its 18,000 advisers in the next few months. The company said it is working to make Facebook available… Continue reading
If I were to identify the most significant/valuable lesson I have learned to date about life/business/work, it would be this: Time is your most valuable commodity.
You may be more familiar with the concept of work/life balance, family time, or in the business environment, core competency and ROI. To me, these are all the same: an equation with variables of cost, time, quality, and opportunity cost.
In our… Continue reading
Home prices in March continue to show signs of stabilization across the U.S., according to FNC’s Residential Price Index.
Despite reports of deep home price declines, the latest RPI numbers reveal that underlying home values are on the mend. March 2011 is the second consecutive month with better-than-expected price momentum. It’s also the first month that home prices have shown a one-month gain since the homebuyer tax credit… Continue reading
Due to unforeseen circumstances (or, if you’re superstitious, because it’s Friday the 13th), video from our Flight of the FNC Flip™ cam will be posted Monday soon.
Today’s Washington Post examines Friday the 13th phobias, and the five strangest fears you never knew existed: Read more.
FNC’s marketing department bought a Flip™ cam in late 2010. It served us well during Collateral Management Conference in January 2011. We had actually just gotten into the habit of capturing employee events with the tiny camera when Cisco announced the company was shutting the Flip business.
So, to give our Flip cam a proper sendoff, we decided to send it skyward — on a helicopter… Continue reading
The federal financial institution regulatory agencies have issued revisions to the 1994 Interagency Appraisal and Evaluation Guidelines used by lenders and regulators to set mortgage lending policies and procedures. Last month, FNC hosted a webinar called “The Truth about AVM Compliance with Interagency Guidelines” clarifying some of the issues surrounding the use of AVMs. (Click here to access the PowerPoint and a recording of the presentation.)
Here are… Continue reading
From The Huffington Post’s William Alden:
Almost five years after home prices peaked, they’re still moving in the wrong direction.
Home values fell 3 percent during the first three months of this year, for the biggest quarterly drop since 2008, according to a new report from data provider Zillow. Even as the stock market climbs to three-year highs, and as payrolls tentatively expand, housing continues to fall in… Continue reading
Most people loathe change. Appraisers are no different.
The upcoming GSE Uniform Mortgage Data Program (UMDP) is the latest in a string of rules, policies and guidelines to better regulate and analyze risk in the world of real estate lending with primary emphasis on consumer lending (1-4 unit residential properties).
In the past, the Home Valuation Code of Conduct, Dodd-Frank, Interagency Appraisal and Evaluation Guidelines and now the… Continue reading
According to Bloomberg, millions of young adults are moving out of their parents’ homes and creating their own households. Between 750,000 and 1 million new households will be created in 2011–compared to just 357,000 added in the year that ended March 2010. These young adults are helping to provide a so-called shadow supply that may boost U. S. housing starts more than 50 percent by next year and spur consumption… Continue reading