Appraisal Firms Prepare for CFPB Rules
Valuation service providers have developed a host of materials designed to help mortgage lenders comply with new rules that go into effect in two months. Other recent advancements and collaborations in the sector address improved efficiency.
Failed Bank's Former Chairman Claims Duped Into Loan
A State senator and former chairman of a failed South Carolina bank is attempting to avoid repaying a loan from the bank because of an allegedly faulty appraisal.
Some Servicers Unaware of Valuation Rule
Some mortgage servicers might not be aware that they could be subject to a new rule involving home valuations.
AMC Search Engine Launches
A new appraisal management company search engine promises to match up mortgage firms with the best available AMC.
Risk of Valuation Fraud Plummets
Prospective borrowers have recently escalated their efforts to deceive lenders about their income. But the risk of valuation fraud has greatly diminished.
Fannie Implementing New UCDP Appraisal Messaging
New real estate appraisal messages are being implemented in less than two months by the Federal National Mortgage Association.
Appraiser Testifies About Fraudulent Reports
While awaiting sentencing, himself, a Pennsylvania real estate appraiser testified at the trial of his former partner about how fraudulent appraisal reports with inflated values were created.
Regulator Criticizes AMC Oversight
An official from the Office of the Comptroller of the Currency told mortgage bankers that better oversight is needed for appraisal management companies. Appraisal reviews are also a concern.
Average LTVs, Negative Equity Improve Again
Homeowners are getting back on their feet again, with 2.5 million borrowers moving out of a negative-equity position. Mortgage lenders also improved their position, with the average loan-to-value ratio dropping by nearly 5 percentage points.