No-Appraisal Home Loan | Is it Worth the Risk?

Home appraisals serve many purposes from determining the market value of a house to adjusting the borrowing limit as part of a mortgage loan. Although this step can be stressful buyers and sellers alike, it is crucial. A recent article, Is a no-appraisal home loan too good to be true? explains that while no-appraisal mortgage Read More

Cryptocurrency | Can this Digital Currency Change the Real Estate Industry?

Most people have heard of bitcoin, a type of digital currency that is secured by encryption. Also known as cryptocurrency, these digital funds are more than just an investment—they can be used to make purchases like the physical money in your wallet. A recent HousingWire article explains, “As the cryptocurrency craze shows no sign of Read More

First-Time Homebuyers Corner the Market in Q1 | Future Outlook Explains the Boost

Most people would consider buying a first home as part of the American Dream, epitomizing the hard work and determination of an individual or couple. According to Bloomberg, many dreams came true in the first quarter of 2018, with first-time homebuyers accounting for 46% of new mortgages backed by Freddie Mac. Although it’s been extensively Read More

House Passes Dodd-Frank Reform Bill | Appraisal Revisions Included in Legislation

On May 22, the U.S. House of Representatives passed legislation that amends banking regulations detailed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Following the 2007 financial crisis, the Dodd-Frank Act has regulated the financial industry to prevent another recession by creating more transparency with consumers. The Economic Growth, Regulatory Relief and Read More

Chance of Rate Hike in June Decreases to 90% | Federal Reserve May Meeting Minutes Explained

While the Federal Reserve has previously forecasted up to four rate hikes in 2018, the recent Federal Open Markets Committee’s May meeting minutes illustrate that may not be the case―at least not at this time. Even with many experts predicting a total of four rate hikes for the year, the Fed funds features are downgrading Read More

Closing the Gap | Homeowners’ Value Estimates Move Closer to Appraised Values

Historically, owner perception of home values has varied from the actual appraised values―but the difference has never been this low in three years. The latest Home Price Perception Index (HPPI) from Quicken Loans explained homeowner estimates are just 0.33% higher than appraised values, whereas this time last year they were 1.90% higher. The data illustrates Read More

Millennials Face Homebuying Challenges | Top Factors Explained

According to Trulia’s recent Consumer Home Buying Survey, young adults ages 20 to 36 are most eager to purchase a home, but also endure the most challenges. Although this generation is most active in the market, a variety of factors are forcing them to make difficult decisions when it comes to buying a home or Read More

Clear the Air | Tips for Lenders on Responding to Borrower Reviews

As discussed in our previous blog, electronic processes seem to be the path forward for the mortgage and appraisal industries. An online presence is becoming more and more important for connecting with potential borrowers and maintaining relationships with current borrowers, as demonstrated by the results of the 2018 Ellie Mae Borrower Insights Survey. According to Read More

Tech Tools | Harnessing Automation for Increased Appraisal Efficiency

Many appraisers have a deep-seated anxiety when it comes to technology. For years, the general industry consensus was that computers and artificial intelligence would eventually take over and make appraisers obsolete. However, like most industry shifts, the move to automate and streamline has played out as an evolution rather than a snap change. In addition Read More

Getting to Know Millennial Homebuyers | Tips for Lenders

According to J.D. Power’s 2018 U.S. Home Equity Line of Credit Satisfaction Study, nearly all millennial borrowers search for information online ahead of applying for a HELOC product, with 59% using a desktop or laptop and 50% using a smartphone or tablet. Mortgage Professional America notes that “as millennial homeownership rates increase and home values Read More

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