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Tag Archives: CMS
Dear Valued Clients,
We at FNC are excited to announce that our Appraisal Score™ analytic solution has received a U.S. patent (U.S. Pat. No. 8,244,563), making it the nation’s first patented appraisal review tool.
America’s major loan originators, servicers, credit unions, appraisal management companies, and investors who use FNC’s Collateral Management System® (CMS®) rely on Appraisal Score to discern compliance, risk, and fraud issues in residential property… Continue reading
What do FNC’s Collateral Management System® and our ports do for lenders? FNC cofounders Bill Rayburn and Bob Dorsey discuss.
Chaos. That’s what some mortgage industry experts are predicting will happen when Fannie Mae and Freddie Mac’s UCDP initiative takes effect next month.
As of Dec. 1 — just over two weeks away — mortgage lenders will be required to upload their appraisals as electronic data via the GSEs’ Uniform Collateral Data Portal (UCDP) for loan applications being delivered on or after March 2012. By now, lenders should not… Continue reading
Appraisal independence is not new, but we have seen considerable regulatory activity about it recently. Appraisal independence (on a practical level) is making sure that there is no undue influence on an appraiser that might hinder the appraiser’s independent judgment. I think most appraisers will agree that this is a good thing. The difficulty for many appraisers came with the way some of these regulations completely changed the playing field… Continue reading
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.
Volatile markets, domestic and international monetary policy, changing regulations and politics, rapidly updating technology, and shifting global resources: The list of items impacting our software systems is constantly growing. Within the housing markets we’ve lived through a plethora of these changes, let alone the adoption of software to begin with.
Like business practices and products, software continues to adapt. This is true for software serving a market, a company… 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