PostList

How Valuations Can Improve Repeat Business

How Valuations Can Improve Repeat Business

By all accounts, the housing market is shifting into a different gear in 2019. The nation's economy remains strong, unemployment is at a record low and wages are increasing. Nonetheless, mortgage origination volume is shrinking, so lenders will need to fight harder for a smaller piece of the pie. This past fall, Fannie Mae's Mortgage Lender Sentiment Survey found that lenders reported a net negative profit margin outlook for the eighth consecutive quarter. Competition among lenders was cited as their biggest challenge. In a tight market, an obvious strategy is to find a way to generate more repeat business, whether that’s for home equity products, refinances, or purchase loans. One of the best ways to accomplish this is to partner with appraisal providers that are just as dedicated to providing an excellent customer experience as you are. Because they usually have limited contact with appraisers, consumers often feel detached from the appraisal process. This is not a problem when appraisals go smoothly, but very annoying to the consumer when they don’t....

Continue Reading...