Posts from — March 2010
The Tuned in Appraisal Process
With the market in dismay, the HVCC as well as FHA appraisal requirements, what is an appraisal company to do to ensure customer service and separate itself?
Surely great customer service is expected and it's not even close to be enough to be a market leader. The appraisal process as well as appraisal forms are very standard and regulated. You couldn't make up your own way of doing things to give yourself a competitive advantage and expect USPAP, the GSE's and AI to think its okay. The reality ...
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March 31, 2010 6 Comments
Coester names Bud Ryan Director of Sales
Coester Appraisal Group named Bud Ryan as director of sale. Bud Ryan began his career in the mortgage industry 18 years ago at PHH Mortgage (aka Cendant Mortgage) in vendor relations where he was quickly promoted to a leadership role overseeing the appraisal management needs of the east coast. He then moved to underwriting and processing leading projects such as automated underwriting and mortgage loan capacity while gaining underwriting and closing expertise.
Bud then went to Secondary Marke...
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March 29, 2010 No Comments
When Appraisal Management Software is not enough.
Appraisal Compliance is a must for all lenders doing mortgage business today. With the HVCC, FHA appraisal Compliance, OTS and OCC regulations there is simply no way to get around not ensuring an arms length appraisal transaction. Over the past few months appraisal management software companies have sprung into action trying to get lenders to manage the process themselves and bypass appraisal management companies. The selling point is that if you take control of the appraisal process internally ...
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March 28, 2010 24 Comments
Mid-Atlantic MBA Conference 2010
Just last week Coester Appraisal Group and executives attended the regional MBA conference. The conference which was held at the Trump Taj Mahal was overall an upbeat, well attended conference and well worth the trip. The overall theme of the conference was that the industry is ready for a change and ready for a new beginning. Exhibitors were in full force and it was great to see our Real Estate Mortgage Network (REMN) in full attendance as well as our friends at Franklin First and Franklin Am...
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March 27, 2010 No Comments
Vernon Davis signs with Coester
We are very excited to have Vernon Davis sign to endorse our company and do a promotional video. This has been something we have been working on for a few months and we are very excited to be associated with a person of his caliber. I have known Vernon for a few years and were once workout partners at UMCP for about 6 months. He is a strong as a OX, has a tremendous work ethic and his work ethic is probably the reason for all of his success and with nothing but more success to come. Please loo...
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March 26, 2010 No Comments
Nearly Half of Home Purchases Are Distressed Properties
Nearly Half of Home Purchases Are Distressed Properties The share of home purchase transactions involving distressed properties surged to almost half in February, reported the Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions. The report said distressed properties--those involving homes acquired as part of a foreclosure or pre-foreclosure sale--accounted for 48.1 percent of home purchase transactions tracked, up from the 37.3 percent level recorded as recently as N...
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March 23, 2010 1 Comment
US property 'undervalued'
Tuesday, March 16, 2010
Catherine Deshayes
Compared to global markets, nearly 20% of US residential property is undervalued, a new report has claimed.
States where properties are the most overvalued are Delaware, Montana and Oregon, as well as Washington DC, according to the information from independent macroeconomic research consultancy firm Capital Economics.
The firm's US economist, Paul Dales, says in a separate report that prices will continue to fall, but that this will probably not...
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March 16, 2010 No Comments
Mortgage Bonds Make a Comeback
Mortgage Bonds Make a Comeback
By ANTONY CURRIE and CHRISTOPHER SWANN
The market for private-label mortgage bonds in the United States might be ready for revival.
The housing-induced credit crisis has shut it down for almost two years. But a handful of firms, independently of each other, are working on deals that could hit the market by June. Any new issue of mortgage bonds lacking guarantees from the government-run agencies Fannie Mae and Freddie Mac will need to be squeaky clean — and the...
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March 16, 2010 No Comments
Obama Sends "Volcker Rule" Proposal to Congress
President Barack Obama sent Congress a five-page proposed plan March 3 that would ban banks from hazardous trading and impose limits on how large they can grow.
According to Bloomberg News, the proposal, which is named for its main proponent, former Federal Reserve Chairman and White House adviser Paul Volcker , is aimed at helping prevent a repeat of the worst financial crisis since the Great Depression by reducing risk-taking by banks.
Under the Volcker Rule, lenders would be preven...
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March 16, 2010 No Comments
Coester Featured in Mortgage Technology News as Appraisal compliance expert
Coester Featured in Mortgage Technology as HVCC Expert
CEO Brian Coester was recently featured in Mortgage Technology as an appraisal compliance expert.. The two page article titled "Is Uncle Sam Bullying You" gives expert advise on appraisal regulations as well as there place in the mortgage industry.
Read Article...
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March 15, 2010 No Comments
Appraisal Management Survey Sheds Light on Industry Propaganda
Coester Appraisal Group, a nationwide appraisal management company releases its
annual appraisal industry survey. Over 1,559 licensed and certified appraisers
completed the survey with the results shedding some insight into the appraisal
industry and what is really happening in the appraisal industry. The data was collected
directly from appraisers via SurveyMonkey, various websites, press releases and e‐mail.
After further analysis of the data from the Annual Coester Appraisal Group Vendor
Su...
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March 6, 2010 16 Comments
Obama May Ban Foreclosures Without Review
The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected by the government’s Home Affordable Modification Program.
The proposal, reviewed by lenders last week on a White House conference call, “prohibits referral to foreclosure until borrower is evaluated and found ineligible for HAMP or reasonable contact efforts have failed,’’ according to a Treasury Department document...
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March 4, 2010 3 Comments
Coester Appraisal Group adds Apprasier Distance to interactive map
Coester Appraisal Group one of the best nationwide appraisal management companies added an "appraiser distance" feature to its interactive mapping tool on its company website. The tool which will allow a visitor to enter a property address, the appraisers last name and license number and then automatically calculate the distance the appraiser traveled to get to the subject property. The database which was verified by the ASC.gov website to ensure the accuracy of the appraisers legal address. Thi...
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March 4, 2010 1 Comment
Coester Appraisal Group adds appraiser search tool
Coester Appraisal Group a nationwide appraisal management company announced its addition of an appraiser search tool on its website. The search tool which enables a visitor to enter a property address on Coester's home page and find nearby appraisers within a given market area is a great tool for the industry to verify if the distance traveled to the property is reasonable for the area. The interactive map was designed to aid the mortgage community in making sure appraisers distance traveled i...
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March 4, 2010 1 Comment
Best Appraisal Management Company
Coester Appraisal Group was ranked as one of the best appraisal management companies in the nation by a recent blind survey of over 15,000 mortgage professionals. The survey which was conducted by mortgage professionals found that It really just comes down to service and consistency and that's were Coester Appraisal Group separates itself from the pack. We thank our clients and our vendors for all of the hard work as it is an honor.You can visit our website at www.coesterappraisals.com or call u...
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March 4, 2010 4 Comments
Understanding Appraisal Compliance
Appraisal compliance is a must for any company doing mortgage lending today. From the Home Valuation Code of Conduct, FHA's recent appraisal changes as well as the OTS and OCC appraisal requirements there is simply no way of getting around ensuring an arm's length appraisal process.One of the most important things about dealing with appraisal compliance is that because everyone has to play by the same rules now, as a mortgage lender you can truly have a competitive edge by knowing the rules and ...
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March 4, 2010 1 Comment
