We all know that it’s much easier, and more profitable, to keep an existing customer than it is to land a new one. But let’s face it, customers have life cycles. Recently, I read an article discussing research that shows most North American companies lose half of their customers every five years. So what’s the secret? The keys to keeping our clients in the mortgage industry happy are: Knowing what motivates…
As a nationwide appraisal management company, we have the benefit of working with multiple facets within the housing industry. We are hearing more and more that appraised values are coming in lower than what the bank and borrower estimated, resulting in a shattered would-be loan. Often times the finger will point to the appraiser as the one to blame for the low valuation, but let’s be honest…residential appraisers don’t create…
After reading this article on the Appraisal Institute’s website we wanted to comment on the Consumer Financial Protection Bureau (CFPB) releasing a proposed rule August 15th in regards to valuation services. The goal is for consumers to be able to make informed decisions and would require lenders to give them copies of real estate appraisals and other home value estimates created in connection with their application. While the Dodd Frank…
Many lending institutions are concerned about the compliance aspect of Appraisal Management and how they are protected in their day to day business. With the changes in the industry over the last five years, there is a definite need to do your homework when selecting your vendors including Appraisal Management Companies.