Posts Tagged: appraisal management

Environmental Products Series – Part I

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Most clients believe that Valuation Management Group’s (VMG) expertise is limited to residential and commercial appraisals, but did you know that we also offer the full menu of environmental assessment products? This includes Environmental Checklists, Phase I’s and Phase II’s. While many lenders request environmental assessments, not everyone in the lending or servicing business knows… Read more »

Second-Home Sales Are On the Rise

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According to Fannie Mae and the National Association of Realtors (NAR), second or vacation homes – those that are neither investment nor primary residences – represented 13 percent of all purchase transactions in 2013 – an increase of 29.7 percent over 2012. This is the highest market share for second homes since 2006, although still… Read more »

Tips for Commercial and Residential Appraisal Reviews

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We are pleased that commercial and residential lending are increasing, but with this good news we want to remind lenders to establish and maintain policies on appraisal review that ensure compliance with Dodd Frank, Interagency Appraisal and Evaluation Guidelines, and Fannie Mae/Freddie Mac guidance. Many of these laws and guidance policies were established after concerns… Read more »

FDIC Releases Examination Procedures for Mortgage Rules

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The FDIC recently released interagency consumer compliance examination procedures for the mortgage rules issued pursuant to the Dodd-Frank Act. These procedures are intended to help financial institutions seek a better understanding of the areas that the FDIC will focus on as part of the examination process.  These procedures apply to Financial Institutions under $1 Billion in… Read more »

FHFA’s Oversight of Fannie Mae and Freddie Mac’s Use of Appraisal Data

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On February 6, 2014 the Federal Housing Finance Agency (FHFA) issued an interesting synopsis of the Office of Inspector General’s audit. The synopsis covers the FHFA’s oversight of Fannie Mae and Freddie Mac’s (GSE’s) use of the UCDP to analyze appraisal data, prepurchase, to improve loan quality and reduce risk. You can access the synopsis… Read more »

Using VMG’s Website to its Full Potential

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At VMG, we strive to provide the best possible client experience. The key to providing superior service is communication and there are multiple avenues to communicate with our clients – email, phone, LinkedIn, Facebook, Blogs and the VMG website. While many people prefer email and phone communications, there are times when an email or phone… Read more »

New Consumer Protection Rights

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The CFPB has created a consumer guide that many lenders are probably not aware of. It is titled, “What the new ECOA appraisal and other valuations rule means for consumers.” Click Here to View Guide. It explains how the lender cannot discriminate because of race, color, national origin, sex, religion, marital status, age, income from public assistance,… Read more »

Consumer Confidence on the Rise

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A recent report released by Prudential Real Estate found that the number of consumers that are positive about the residential market in 2014 has grown more favorable in December. Of those surveyed, 78 percent of consumers are optimistic toward the residential market in 2014. This is a 5-point increase from the previous quarter. The report… Read more »

Understanding New Appraisal Regulation in 2014

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On January 22nd and February 3rd VMG presented a webinar on the following key topics listed below. If you click on read more, you will find a link to the PDF version of this webinar and the actual feed to the webinar itself. 1. On January 26, 2014, Fannie Mae and Freddie Mac (the GSEs) will… Read more »

What to Look For in an Appraisal Management Company

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When clients are looking for an appraisal management company (AMC) there are several critical factors to consider. An appraisal management company is a bridge between clients and appraisers and the quality of work provided is of most importance. Here at Valuation Management Group, an AMC that manages appraisal orders and technical reviews for 42 of… Read more »