Category Archives: PEMCO News
Why the Appraisal Report May Change
Photo credit: justgrimes Hard data increasingly preferred, versus narratives After the Great Recession’s influence on the mortgage industry by way of reduced product availability and new underwriting and loan quality-related rules, lenders have responded by taking a more assembly-line approach to loan origination. This has made the mortgage process increasingly standardized. Today’s loan origination […]
Read More →TRID Privacy Rule Causing Issues at Closing Table
Photo credit: Mark Moz More than half of surveyed agents reported difficulties, but there are workarounds One of the reasons home buyers choose to work with real estate professionals is because they are trained to see errors in the closing documents, potentially saving them time and money. With TRID’s October implementation, the […]
Read More →The Buy-to-Rent Business Model Might be Here to Stay
Photo credit: Phil Sexton There’s been a big rush over the last few years by big companies to buy up large numbers of single-family homes, homes which eventually were converted over to rentals. The big question is: are these companies in it for the long haul or are they looking to get in, make quick […]
Read More →Appraisal Technology Experts Speak on Options
Photo credit: Paul Sullivan A webinar was recently hosted by appraisal profession publication Valuation Review, entitled, “Integrating Mobile Technology,” it was conducted by a former chairman of the Louisiana Appraisal Board, R. Wayne Pugh. Pugh discussed helping appraisers become more efficient by integrating a variety of solutions-driven technologies into the appraiser’s current mobile technology process. […]
Read More →Unseating FICO as the Preferred Credit Scoring Platform
Photo credit: Got Credit Helping make the American Dream more accessible. FICO scores have been the lending industry standard for over four decades, but some lenders are beginning to cool to FICO’s algorithms, saying that they focus too much on past behavior and circumstances and not enough on consumers’ present realities. Alternative credit scoring […]
Read More →AVMs can be Utilized Along with Appraisers, Not Instead of
Photo credit: Richie Girardin Lender-provided insight on why using appraisers should continue to be the default Consumers are increasingly utilizing the home valuation tools found on many real estate sites; all that is usually required is a property address; the tool then provides some property and neighborhood data. Consumers are making buying and/ or selling […]
Read More →Home Loan Approval for Minorities Becomes More Accessible
By guest writer, Jennifer Riner of Zillow Although mortgage rates are almost at historical lows, not all borrowers attain approval when applying for conventional loans – with some groups struggling more than others. In early 2015, Zillow research revealed minority applicants were especially likely to encounter difficulty acquiring loans for homeownership, with denial […]
Read More →This May be the Housing Market Next Year
Photo credit: : TaxRebate.org.uk The number of households will increase, but they will rent more than buy The consensus among economists is that economic growth will continue into 2016 and will usher in its eighth consecutive year of expansion by the second half of 2016. Most forecasts place enough job growth to make inroads on […]
Read More →The Appraisal Foundation Announces USPAP Guidance Integration with Appraisal Software
Photo credit: Flazingo Photos The nation’s foremost valuation profession authority, The Appraisal Foundation (TAF) has announced that Uniform Standards of Professional Appraisal Practice (USPAP) guidance will soon be integrated into software programs of three partner companies. Appraisal software providers, ACI, Bradford Technologies and Centric Technology Solutions will release new software that allow access to […]
Read More →Appraisers Chime In On Valuations Profession in National Survey
Photo credit: Sirenz Lorraine The Allterra Group, whose holdings include Appraisal Buzz, Collateral Risk Network, Valuation Expo and Allterra Online, released the 2015 National Appraiser Survey earlier this year. The survey was filled out by over 2,000 appraisal industry professionals and represented their views on the constantly changing profession and its future. Who […]
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