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News By Edition
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Valuation Review Edition
May 21, 2012
In the May 21, 2012, edition of Valuation Review, the cover story looks at the a cornucopia of valuation products, which fill every niche — from lending to mortgage insurance. Though appraisers scoffed at many of the appraisal alternative valuations when they first hit the market place, there is a growing trend of appraisers getting into alternative valuation. Also in this edition, a housing market focus, small signs of real estate recovery, the launch of three broker opinions of value for commercial valuation and the next generation of AVMs introduced by Veros. All those stories and more in the latest edition of Valuation Review. |
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Valuation Partners names mortgage, appraisal veterans to executive team
Posted Date: Monday, May 13, 2013
Valuation Partners, a national appraisal management company with access to over 10,000 independent fee appraisers in all 50 states, has named three mortgage and valuation industry veterans to its management team:
• Damon Zeigler has been appointed vice president, vendor management
• Amanda McIntyre has been promoted vice president of operations
• Rick Smith has been appointed vice president - controller
Zeigler brings more than 22 years of appraisal and mortgage industry expe
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LPS: New problem loan rate hits six-year low, nears pre-crisis levels
Posted Date: Monday, May 13, 2013
The March Mortgage Monitor report released by Lender Processing Services found that new problem loan rates (seriously delinquent mortgages that were current six months ago) have fallen below 1 percent for the first time since 2007. At 0.84 percent, the March new problem loan rate is approaching pre-crisis levels, and nearing the conditions of 2000-2004 when the rate averaged 0.55 percent.
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Appraiser-assisted valuations: The growing alternative
Posted Date: Thursday, May 31, 2012
The valuation realm has grown considerably. Today, there’s a cornucopia of valuation products to fill every niche — from lending to mortgage insurance. Though appraisers scoffed at many of the appraisal alternative valuations when they first hit the market place, there is a growing trend of appraisers getting into alternative valuation.
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What’s the alternative value? (Alternative-valuations part 3)
Posted Date: Wednesday, May 23, 2012
Lender demand? Check. USPAP compliance by the appraiser? Check. So why are many appraisers still resisting these alternative valuations? It could be lingering USPAP confusion. The other popular hypothesis is that it takes time and money to be trained in analytics use.
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Using USPAP: Alternative valuations, part 2
Posted Date: Tuesday, May 22, 2012
When faced with alternative valuation products, the cry of USPAP compliance can be heard from a group of leery appraisers. “Are these valuation forms USPAP compliant?” The simple answer is that the forms don’t have to be USPAP compliant — the appraiser does. The real question is how does an appraiser employ alternative valuations and stay within USPAP compliance?
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Lender implements RealView appraisal review technology
Posted Date: Wednesday, May 09, 2012
Platinum Data Solutions, a provider of comprehensive collateral valuation technologies, announced that San Diego-based Plaza Home Mortgage Inc., a full-service wholesale mortgage lender, implemented Platinum Data Solutions’ RealView appraisal review technology in its Reverse Mortgage Division, which transacts reverse mortgages nationwide.
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CoreLogic announces new GSE REO-to-rental data offering for bulk investors
Posted Date: Wednesday, May 09, 2012
CoreLogic announced the immediate availability of a new property data and analytics offering that provides enhanced insight to investors participating in the new government-sponsored enterprise (GSE), Federal Housing Finance Agency (FHFA) REO-to-Rental program and other similar private programs.
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Veros launches next generation of AVMs
Posted Date: Monday, May 07, 2012
Veros Real Estate Solutions announced a series of gradual and controlled updates to its VeroVALUE AVM, which have produced significant improvements in performance, including hit rate and accuracy. Originally brought to market in 2001, VeroVALUE developed a strong reputation for model quality, unsurpassed hit rates in key areas of the U.S. as well as reliable, transparent value estimate and confidence scores that correlate with valuation accuracy.
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Valuation Management Group ranks highly in Pacesetter awards
Posted Date: Monday, May 07, 2012
Valuation Management Group LLC, a nationwide appraisal management company, was recognized for the third year as one of Atlanta’s 50 fastest-growing private companies by the Atlanta Business Chronicle. VMG was ranked 14th at the Atlanta Business Chronicle’s 2012 Pacesetter Awards breakfast on April 27. Previously, VMG ranked third in 2011 and placed 11th in 2010.
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Regional Review: Las Vegas March home sales
Posted Date: Monday, May 07, 2012
Las Vegas-area home sales rose to the highest level for a March in six years amid a record level of absentee purchases, the most new-home sales since mid-2010 and continued strength in the sub-$200,000 market. The median price paid for a home in the region edged up from February but fell short of the year-ago level by the smallest amount in a year and a half, a real estate information service reported.
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Small signs of real estate market recovery
Posted Date: Wednesday, May 02, 2012
Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors. 2012 is expected to be a year of recovery for housing.
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Foreclosure sales lowest since December 2010
Posted Date: Wednesday, May 02, 2012
While March foreclosure starts increased a modest 8.1 percent since last month, overall, they were still down more than 31 percent year over year. Also in March, first-time foreclosure starts hit a five-month high. However, despite the increase, the number of first-time foreclosure starts in March was still far below those seen throughout much of 2011 and all of the previous three years.
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Three Broker Opinion of Value products launched for commercial valuation
Posted Date: Wednesday, May 02, 2012
Three different Broker Opinion of Value (BOV) reporting products — a short, medium and long form — were introduced into the commercial real estate valuation space by Equi-Trax Asset Solutions LP. These are aimed squarely at lenders who need low cost valuations on commercial real estate, according to the company.
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InHouse named winner of inaugural “Smart 25 Award”
Posted Date: Wednesday, May 02, 2012
InHouse Inc. was named a recipient of a new award from the country’s largest firm providing chief financial officer services, B2B CFO. The Smart 25 Award recognizes 25 privately held companies from diverse business sectors for achievements in what the organization terms “the critical components of best business practices that create jobs and improve the economy.”
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Interthinx Watchlist Review Module lends a hand to GSE, OFAC compliance
Posted Date: Wednesday, May 02, 2012
Interthinx released its new Watchlist Review Module, a stand-alone application that enables lenders to check all loan participants against several industry lists to ensure compliance with Fannie Mae’s Loan Quality Initiative, as well as rules from the Office of Foreign Assets Control and the Bank Secrecy Act.
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CoreLogic reports 69,000 completed foreclosures in March
Posted Date: Wednesday, May 02, 2012
CoreLogic released its National Foreclosure Report for March, which provides monthly data on completed foreclosures, foreclosure inventory and 90+ day delinquency rates. Through the first quarter of 2012, there were 198,000 completed foreclosures compared to 232,000 through the first quarter of 2011. Since the start of the financial crisis in September 2008, there have been approximately 3.5 million completed foreclosures.
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The Fraud-tastic Four: A roundup of the latest dastardly fraud deeds
Posted Date: Monday, April 30, 2012
Lurking in the shadows of a real estate market in shambles, fraud rears its ugly head more often than we would like to admit. April was a big month for mortgage fraud reports. In case you missed the latest fraud scandal, arrests, indictments or reports, Valuation Review has collected them for your reading pleasure.
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NS3: Summit session preview – Voice of the Independent Agent
Posted Date: Monday, April 30, 2012
The speakers for the 2012 National Settlement Services and Compliance Summit are working diligently on their presentation preparations. We caught up with the members of the Voice of the Independent Agent panel to see what is on their minds for discussion.
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Clear Capital home prices: Nation on solid footing, but Midwest on slippery slope
Posted Date: Monday, April 30, 2012
“Home prices continue to show relative strength in April with virtually no change over the short term and tapering losses over the longer term,” saidAlex Villacorta, director of research and analytics at Clear Capital. “There has been quite a bit of buzz in the housing industry surrounding turning REOs into rentals. Our data suggests early activity from these programs could be starting to take effect, with national REO-only home price gains on a price per square foot basis vastly outpacing fair marke
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Decision Ready receives two mortgage technology awards
Posted Date: Monday, April 30, 2012
Ravi Ramanathan, founder and chief executive officer of Decision Ready, was honored with two technology awards. He was named a Technology All-Star by Mortgage Banking magazine. Ramanathan also received an Innovations Award on behalf of Decision Ready from the Progress in Lending Association.
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Regional Review: Ohio pending sales rose in March
Posted Date: Monday, April 30, 2012
The Ohio Association of Realtors reported that the number of single-family homes and condominiums put under agreement in March rose for the 11th straight month compared to the results from the prior year.
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Global DMS’ new workflow engine for eTrac appraisal management technology
Posted Date: Monday, April 30, 2012
Global DMS added a new workflow engine to eTrac, the industry’s most widely used appraisal management technology. This new workflow engine will grossly expand user customizability to achieve virtually limitless possibilities for custom workflows and enable accessibility to the industry’s newest technology features, such as eTrac ATOM, Global DMS’ recently launched mobile application.
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