It has been an active year for appraisal management company (AMC) legislation. Because of the activity, we presented an update on AMC legislation in June, 2009. Since then we have updated the presentation itself to keep up with the various changes this year (although we did not catch everything).

For those of you who are keeping

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At FNC, we’re here for you not only during the holiday season…

Count on us year-round to provide the support you need for your mortgage lending and servicing processes.

This year, in support of home owners nationwide, FNC is delighted to give to Habitat for Humanity in the name of our clients for whom we are truly grateful.

Happy Holidays from your extended family at FNC.

I will ask the question on the mind of many appraisers today: “How do lenders, servicers, etc. choose the valuation products they order? Specifically why do they choose BPOs (broker price opinions)?

In the origination world, the answer is simple. The lenders don’t order BPOs. Their investors, which today are essentially Fannie Mae, Freddie Mac, and FHA, don’t allow BPOs for origination.

In the loan servicing world, the investors (those who own the loans) also dictate

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Recently one of our clients asked us to look at the relationship between sales price and appraised value across the country. We looked at about 200,000 sales transactions over the first nine months of the year and found that most of the appraised values were above the actual sales price.

The chart below shows the percent of purchase transactions where the sales price was above the appraised value.

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posted in: Appraising, FNC, Lending, Mortgage, Valuation