Home Appraisal Price-Gap Analysis Shows That Home Appraisals Were Higher Than Sale Prices 51% of the Time It’s fairly common for home appraisals to differ from actual sales prices, particularly with recent record home price appreciation seeing home prices skyrocket. Appraised values indicate what a licensed or certified appraiser believes a home is worth, while […]
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Tighter Vendor Management is Needed as Wire and Cyber Fraud Risks Grow by Jerome Jelinek, Chairman In our last blog, we discussed the business case for centralizing refinance closings with a core group of preferred title and closing vendors and how this approach enhances operational efficiency, customer experience and compliance. Now in the second blog
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It’s Not Too Early to Start Getting Ready for Refinances by Jerome Jelinek, Chairman Remember refinances? How about the crazy hectic days of 2021 and early 2022? A recent trade publication article suggests those days might be just around the corner again. The article, which interviewed several prominent industry lenders, said that “A likely refinance
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There’s More to Appraisal Management Than Just Ordering by Ashley Jelinek, CEO For decades, lenders have relied on appraisal management companies (AMCs) to compliantly deliver accurate property valuations and to act as a “firewall”, preventing interested parties from exerting pressure on appraisers. The existence of AMCs has enabled lenders to expand their geographic footprints into
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Here’s a quick rundown of some recent legislative updates we’ve been tracking. This month we’re focusing on legislation regarding the appraisal industry. NJ Senate Approves Penalties for Discriminatory Appraisals New Jersey Senate lawmakers recently approved a bill aimed at penalizing real estate appraisers who undervalue homes based on protected characteristics, such as race, sex, or
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The FHFA has introduced a “pilot” program that replaces title insurance on refinances with automated public record searches. To get an overview of this program, our Chairman, Jerome Jelinek, has shared some insight into its potential benefits and drawbacks. Could you give us some background on the proposal “pilot” program: What’s involved, how it will
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Understanding the new Uniform Property Dataset from Fannie Mae & Freddie Mac A Q&A with Sherri Zahtilla, SVP Operations 1. Let’s start with the basics, what is the new Uniform Property Dataset (UPD)? The Uniform Property Dataset, or UPD, is a standardized dataset developed by both Fannie Mae and Freddie Mac that is designed to
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Key Takeaways Our Analysis of 18K Home Equity Loans Across 20 Lenders We examined the home equity valuation products used for 18,000 loans originated by 20 of our lenders. We analyzed the data to compare their use of AVMs, hybrid valuations, drive-by appraisals, and full appraisals. Our team spent dozens of hours reviewing the data
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610 Social Media Lender Votes: Mortgage Lending Trends from Industry Peers At CSS, we recognize the value of understanding the current landscape in the mortgage lending sector.Thanks to Austin Owens, our Senior National Account Representative, we’ve been able to gather valuable insights directly from lenders through LinkedIn polls. These polls may not be comprehensive surveys,
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Accelerate Your Mortgage Process With Improved Appraisal Management by Jerome Jelinek, CEO and President. December 17, 2023 Effective appraisal management is crucial for mortgage lenders looking to optimize and accelerate their mortgage processes. By streamlining appraisal workflows and focusing on technology-driven solutions, lenders can ensure borrower satisfaction, faster turnaround times, improved accuracy, and compliance with
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