MyAMC - Live at Ellie Mae Encompass Experience 2017 Conference

What an exciting show!  We want to thank everyone who visited our booth and took a tour of our Encompass integration, which features some incredible tools to streamline your appraisal process. To watch the MyAMC Ellie Mae Encompass Experience 2017 Conference Video Presentation continue reading.

Continue reading
6217 Hits

Is there a shortage of appraisers coming?

Those of us in the mortgage and/or appraisal industry have experienced issues with extended turn times on appraisals.  In certain markets it is difficult to find quality appraisers to complete work in a timely manner.  Based on recent order volume there appears to be more demand than supply of appraisers in some areas of the country.

Are the delayed turn times caused by a shortage of appraisers? If so, why is there a shortage?  There are several factors to consider when reviewing the possible causes:

Continue reading
10382 Hits

Mortgage Lender Sentiment Survey Q2 2016 Results

Lenders expect rising demand for purchase mortgages, while credit standards stay stable.

Fannie Mae’s Mortgage Lender Sentiment Survey® from the second quarter of 2016, reveals that as we head into Q3, lender attitudes toward the housing market have become increasingly optimistic.

Surveys that were conducted in May show that lenders are reporting an increase in GSE eligible purchase mortgages and according to various sources, this has occurred over the past three months. In part because of this, as is congruent with traditional seasonal variation, growth bounced back to 70 percent on net, compared with 20 percent in Quarter 1 2016 and 71 percent this time last year (Q2 2015).

Continue reading
6529 Hits

Homeownership at Historic Lows

Today, the sales of homes are rising, but homeownership is going down towards record lows which is a very dangerous trend. The homeownership rate stands at a mere 63.6% when seasonally adjusted for the first quarter of 2016. This is a mere 1/10th of 1% above the all-time recorded low of 63.2% which was recorded in the second quarter of 2015.

While it can be argued that the record high of 69.4% which was reached in 2004 was artificially produced thanks to generous loans, the ownership rate dipping to below 64% is very troubling for the real estate industry as a whole.

Continue reading
6508 Hits

Helping lenders meet the deadline for HUD's EAD portal

An important deadline for lenders is fast approaching: June 27. While some lenders are ready to migrate to HUD's EAD portal, others are behind on implementation. HousingWire sat down with David Mentesana, VP of operations and client development at MyAMC, to find out what this change means, and how his company is helping lenders get prepared.

HousingWire: The deadline for lenders to migrate to HUD’s Electronic Appraisal Delivery (EAD) portal is June 27. How ready are lenders for this change?

David Mentesana: Most of the lenders we work with are ready or are in the midst of completing the necessary steps.  At MyAMC, we have completed our system development and went live the last week of April. MyAMC built a direct integration interface to allow us to submit hundreds of appraisals to the portal at one time.

Continue reading
6386 Hits