Valuation Views

Valuation Partners, a national appraisal management company with access to over 10,000 independent fee appraisers in all 50 states, announced that Karen Herr has joined the company as vice president of its U.S. West region. In her new role, Herr will be responsible for overseeing business development and new client services in California, Arizona, Utah, Nevada, Oregon, Washington, Idaho, Montana, Wyoming, Hawaii and Alaska....

There now exists a unique collateral system experience for mortgage lenders. Valuation Partners recently launched Property Rx, a valuation platform that equips lenders with a single point of contact for ordering and receiving a suite of valuation products and services, which can be delivered as quickly as 24 hours. No matter the lending situation or lending scenario, PropertyRx can create a custom solution that will fit a lender’s needs....

Connect with William Fall, Clint Reinhardt and Jason Kitch at the 2019 Regional Conference of Mortgage Bankers Associations. Contact jkitch@valuationpartners.com to schedule a meeting to discuss your appraisal process and needs....

Summit Valuation Solutions, a William Fall Group company and a nationwide provider of post-closing valuation services, is pleased to announce that Jayson Dammen has joined the company’s team as vice president of national accounts....

In today’s ever-changing lending environment, rising origination costs and regulatory burdens are prompting lenders to look for reliable solutions that leverage convenience and speed at an affordable price — especially in the valuation space. With the expertise from of over 35 years in the business, Valuation Partners recognized the market’s need for a hybrid valuation solution and developed its Property Rx to meet that need....

2019 is going to be an interesting year for home buyers. High-dollar regions like the Bay Area, NYC, and other financial hubs show signs of slowing down. In less dense/regulated markets home builders are adding more inventory which should stabilize or lower prices in smaller markets. Lenders are under pressure from shareholders to reduce barriers to entry for home buyers, which will also have a positive effect on the ability for consumers to obtain home purchasing/refinancing credit. This credit easing is largely due to the fact that many experts are predicting double-digit declines in the larger housing market....

...

By all accounts, the housing market is shifting into a different gear in 2019. The nation's economy remains strong, unemployment is at a record low and wages are increasing. Nonetheless, mortgage origination volume is shrinking, so lenders will need to fight harder for a smaller piece of the pie. This past fall, Fannie Mae's Mortgage Lender Sentiment Survey found that lenders reported a net negative profit margin outlook for the eighth consecutive quarter. Competition among lenders was cited as their biggest challenge. In a tight market, an obvious strategy is to find a way to generate more repeat business, whether that’s for home equity products, refinances, or purchase loans. One of the best ways to accomplish this is to partner with appraisal providers that are just as dedicated to providing an excellent customer experience as you are. Because they usually have limited contact with appraisers, consumers often feel detached from the appraisal process. This is not a problem when appraisals go smoothly, but very annoying to the consumer when they don’t....

It’s no secret that loan production costs are among the highest our industry has ever seen. But with a more modest purchase market on the horizon, rising costs have become particularly stressful to bear. Of course, the primary driver of high loan costs is the length of time it takes to close a mortgage loan. And because it is one of the most time-intensive components of the mortgage process, the appraisal is a major factor in controlling costs. Appraisal problems have been known to delay closings and occasionally derail deals altogether, adding greater costs that lenders cannot afford. At the same time, diminishing home values, new appraisal exception rules and in some cases, a shortage of appraisers in certain markets are creating problems of their own. Collectively, these factors can and have been known to have an adverse impact on appraisal quality. With all of these things going on, how on earth can lenders improve valuation quality while reducing costs next year? Rest assured, it can be done. Here’s how....

As the housing market heads into semi-hibernation for the holidays, it’s a perfect time to start planning ahead. Between rising rates and potential price ceilings in a growing number of local markets, there are a lot of challenges in 2019 that beg our attention. One particular trend we have been gearing up for is the increase in demand for HELOCs. The rise in home values and a strong economy are driving demand for home equity loans, especially lines of credit. HELOCs in particular could surge in the coming year, according to a recent TransUnion study that found home equity levels have surpassed their previous peak in 2006. The success lenders have in capitalizing on these products will have a lot to do with having the right valuation strategy in place. Here are the three things they’ll need most....