My Schedule…and A Little Extra: Streetlinks is our AMC and although we still plan to add more to the list, I think Streetlinks has done a pretty good job for us to date. Consider these numbers for the month of July: 5,150 completed appraisal orders; 5.6 business days average turn-time; 8.4 miles average proximity; 12.2% post-complete revisions and each performed on an average of 5.8 hours; and 2.1% completed appeals each performed an average of 14.3 hours. All in all, not too bad. We had a conference call with them yesterday and the AE’s addressed several issues. The one I was most interested in was the proximity of the appraisers to the subject property…I do not want an appraiser who lives 30 miles from the subject and has no idea about the area, you dig? I was happy to learn that average proximity was under 10 miles. More importantly, Streetlinks told us that they are happy to approve more appraisers. In fact, if you know an appraiser that should be hooked up with Streetlinks, I can help you get it done and Streetlinks does not charge the appraiser to enroll. If you know an appraiser interested, please email me.
My Market Watch: Bonds and rates stabilized this morning. If you read my email yesterday then you know the 30-year bond fell through a floor of support. Without any geopolitical news or other report to influence bonds higher, we could see it fall further and if that happens, rates would get worse as well. Moreover, there is an auction today for 10-year notes and if it goes poorly, I wouldn’t be surprised to see bonds fall further meaning rates would suffer. Of course this is all speculation, but it’s not a comfortable spot we’re in at the moment. That being said, I’m seeing some positive activity with Bonds right now and they are trading higher between 6-12bps since rates were published this morning. Let’s think positively and hope it shoots even higher! Disclaimer
My Schedule: Working from home this morning. I will be running around this afternoon and somewhat unavailable but will have plenty of time to return all calls and emails before the end of the day….
Guideline Guidance to get a clean underwriting decision resulting in happiness and adulation, or, you could Ignore This and find yourself with a long list of conditions, a huge hassle, and massive frustration
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We really appreciate the kind words and assure you that we’ll continue to deliver with our execution. Have a great weekend!