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Tag Archives: FNC
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
FNC’s latest Residential Price Index™ (RPI), released Wednesday, indicates that U.S. home prices continued to decline despite recent signs of job recovery, rising home sales, and new residential construction. The continued price retreat is no surprise as the housing market remains constrained by high volumes of delinquent mortgages and foreclosures. November marks the fourth consecutive month-to-month declines in residential property value. Modest downward pressure on home prices remains as banks… Continue reading
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
Last week, ahead of the S&P/Case-Shiller Home Price Index, a number of price indices reported the latest July home price trends. While all indices are pointing to a fairly decent seasonal upswing in the housing market, beneath this consensus lies significantly overlooked differences.
One of these difference concerns what type of sales transactions need to be measured in order to capture a relatively accurate picture of what’s happening to… Continue reading
Compliance with UAD doesn’t diminish the role of the lender’s underwriter or the lender’s responsibility to review the appraisal, according to Fannie Mae’s Bob Murphy, director of collateral policy, speaking as part of a panel presentation moderated by FNC Risk Manager Steve Conlin at the MBA QA and Underwriting Conference last week in New Orleans.
As of… Continue reading
Spoiler alert: This post is not, in fact, about Steve Jobs.
On Monday, Bank of America’s chief executive Brian T. Moynihan promised to cut $5 billion in annual costs by 2014 (“Bank of America Confirms Plan to Cut 30,000 Positions”). Moynihan vowed to make Bank of America the “best” bank in America, even if not the biggest: At least 30,000 jobs will be eliminated as part of Bank… Continue reading
SNL Financial has released its latest list of the U.S.’s top 50 banks and thrifts (by asset size). FNC client Capital One is the biggest mover and shaker among the list’s top 10: The bank’s acquisition of ING Bank and HSBC Holdings bumped Capital One from #9 to #7.
Capital One joins six… Continue reading
While there is so much uncertainty regarding the current state of the nation’s economy, one thing is certain: it is fascinating to observe. There are many, many unfortunate aspects about what has occurred and still is occurring in the real estate market, but at the same time, it’s also an incredible learning opportunity on a number of fronts.
One of the many benefits of working at FNC is the… Continue reading
The corporate headquarters of FNC, Inc. is in Oxford, Mississippi. Oxford also happens to be the headquarters of The University of Mississippi, known as Ole Miss.
The many benefits of living and working in a small college town do not end with a great football season (Go Rebs Go). Sure, the housing market has seen a few ups and downs here in Oxford, but not to the extent… 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