As a nationwide appraisal management company, there are a lot of pieces to the puzzle that we are responsible for. One of the key components of today’s AMC is a successful quality control program. I’d like to share 5 best practices we follow at Nationwide Appraisal Network to ensure quality appraisals.
Are you using an appraisal desk to maintain compliance? Find why that may be detrimental! http://nationalmortgageprofessional.com/news46850/are-appraisal-desks-compliant
There’s a Lot Riding on This Dear Family, Friends, and Colleagues, NAN would like to share this great ride with you. Jason is a near and near friend of NAN and we’d like to share his message below. NAN is proud to be a sponsor of Jason and his Ride and hope you will too!
Fully 43% of Respondents Outsource To AMCs, According To A Nationwide Appraisal Network Survey Working with an AMC seen as a way to help avoid conflict of interests and to comply with regulations.
Nationwide Appraisal Network Far Exceeds CFPB Requirements for Third-Party Compliance. Firm’s approach is a ‘model’ for ensuring clients comply with tough, new rules and regulatory scrutiny
Lender Letter LL-2014-02 March 25, 2014 To: All Fannie Mae Single-Family Sellers Property and Appraisal Requirements for Properties Located in Small Towns and Rural Areas This Lender Letter is being issued in response to a Federal Housing Finance Agency directive to Fannie Mae to provide a number of clarifications regarding property and appraisal requirements for properties in small towns and rural areas.
If you’re considering outsourcing the appraisal process to a third party Appraisal Management Company, consider the following before making your selection. Choosing the best appraisal management partner is an important decision.
Effective January 2014, rules adopted by the Consumer Financial Protection Bureau (CFPB) allow borrowers to receive copies of all valuation products ordered with their loan (even if the lender did not rely on them three days prior to closing.) Various valuation products (appraisals, AVMs, BPOs) may produce different values and cause confusion for borrowers.
http://www.myappraisalinstitute.org/ano/newsletter/DisplayNwsLtrArticle.aspx?volume=15&numbr=3/4&id=21268
The new policy allows e-Signatures on origination, servicing, and loss mitigation documents, as well as FHA insurance claims, REO sales contracts and related addenda. http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/letters/mortgagee
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