One of the key (and looming) changes in the financial services sector centers on appraisals. From new requirements in the Dodd-Frank Act, to the new Uniform Mortgage Data Program and the Federal Reserve’s amendment of the consumer truth-in-lending law, appraisals are in the cross-hairs. The American Bankers Association has a nice piece on five crucial… Continue Reading
Tag Archives: Appraisals
More FAQ: Next Steps After Foreclosure And The Need For An Appraisal
Posted in FAQs, Tough Times for LendersThis is a series of blog entries in which we provide some quick answers to lenders’ frequently asked questions (FAQ). FAQ # 26 – What are some of the most immediate steps after the foreclosure sale? Post-sale procedures vary from state to state Notice should be given to the IRS that the sale has occurred… Continue Reading
Into the Looking Glass (Day Three): 2009 MBA-CREF – Workouts, Special Servicing and Back to the Basics
Posted in Good Times for Lenders, Market Trends, Tough Times for Lenders, Workout Issues(This is part of a series of postings from the 2009 MBA-CREF convention in San Diego.) (Trends; Arriving; Day One; Day Two; Day Three) It is no surprise that the convention is markedly different from previous years. Everything has changed (unfortunately that’s almost NOT a terrible understatement): lenders have a new focus (and those with "real"… Continue Reading