Posts By: Keith Morgan

Millennials Largest Group of Home Buyers

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First-time home buyers are on the rise this year, and according to new data from the National Association of Realtors Home Buyer and Seller Generational Trends report, millennials are the largest group of home buyers. The study found that 32 percent of all buyers are 34 and younger, part of the millennial generation. This is… Read more »

Tips for Commercial Appraisal Reviews

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We are pleased that commercial lending is increasing. 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 were raised that… Read more »

Residential Appraisal Review

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Collateral Underwriter (CU) has been the topic of conversation for lenders, appraisers, and appraisal management companies the past few months. All 3 groups want the same result: quality appraisal reports. Valuation Management Group (VMG) has always employed licensed or certified appraisers to review 100% of their appraisals. CU has added some items to the residential appraisal… Read more »

First-Time Home Buyers on the Rise in 2015

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Since interest rates have dropped to around 4 percent and Federal Housing Administration (FHA) premium mortgage insurance dropped from 1.35 percent to 0.85 percent, there has been a surge in mortgage loan applications. And, according to the Mortgage Bankers Association (MBA) there has been growth in first-time home buyer activity. Due to the FHA mortgage… Read more »

Valuation Management Group Enhances Website

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Valuation Management Group (VMG) would like to share with you enhancements made to our website that will benefit our client and appraiser partners. As a residential and commercial appraisal management company, it is important that we have a website that is simple to navigate and offers the most up-to-date information on real estate appraisal news… Read more »

Fannie Mae Provides Clarification on CU and Real Estate Appraisals

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Very important information for lenders, appraisal management companies and appraisers was explained in a detailed 9 page letter from Fannie Mae, Lender Letter LL-2015-02, on February 4, 2015. The letter was sent to Fannie Mae lenders. Fannie Mae does not directly distribute to real estate appraisers, so Valuation Management Group is making it available on… Read more »

CFPB Proposal

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Just days after Frank Keating, the President and CEO of the American Bankers Association, used an Old Testament analogy to challenge lawmakers to amend the Dodd-Frank Act to work better to achieve its intended purpose, the CFPB has announced a proposal that would redefine the definition of “small creditor” and “rural” under its mortgage rules…. Read more »

Collateral Underwriter (CU) Is In Full Swing!

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Collateral Underwriter (CU) was implemented on January 26, 2015. There was a lot of apprehension by appraisers and lenders. The good news is, the world did not stop turning! Since it has only been a little more than a week, there are still adjustments to be made in appraisers’ and lenders’ processes. Change is inevitable… Read more »

FDIC Releases Second Technical Assistance Video on CFPB Mortgage Rules

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Valuation Management Group (VMG) is pleased to read that the Federal Deposit Insurance Corporation (FDIC) announced the release of the second in a series of three technical assistance videos developed to assist bank employees in meeting regulatory requirements. These videos address compliance with certain mortgage rules issued by the Consumer Financial Protection Bureau (CFPB). The first video,… Read more »

2015 Commercial Lending Outlook

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According to a newly released Mortgage Bankers Association survey of the top commercial and multi-family mortgage origination firms, commercial and multi-family lending is expected to increase in 2015. According to Jamie Woodwell, MBA’s Vice President for Commercial Real Estate Research, “Commercial mortgage lenders anticipate another competitive year in 2015. Lenders’ appetites for loans remain very… Read more »