Appraisers do it better — using market trends to support opinion of value

|

There have been a lot of big announcements in the last few months regarding investor requirements for market trending analysis. USPAP, Fannie, and Freddie are all adamant that appraisers still have to document market trends and neighborhood conditions, but haven't really spelled out what they require to be documented.  

When speaking with appraisers, there was some initial confusion on what was considered a market analysis. A lot of appraisers equate that term with what realtors provide to their customers, but in reality, the term market analysis means so much more.

Shaping the future of market analysis

|

Today’s post comes from Rebekah Champagne. With nearly two decades of experience in the mortgage industry, Rebekah now serves as one of a la mode's Product Marketing Managers.


You've probably heard by now, Fannie Mae made the official announcement August 7, 2018, that they would no longer require the 1004MC. Most appraisers (and lenders) saw this as a win, as they hated the form from the get-go. Fannie finally agreed but was quick to call attention to the fact that the appraiser will still be required to analyze market and neighborhood conditions. While flawed, the form still came with good intentions — getting true market analysis displayed in appraisals. 

So, what's next? Well, Freddie Mac and the other investors haven't changed their requirements yet. It's been crickets since the big announcement with the lenders too. So even though Fannie said adieu, you haven't quite seen the end of your favorite form. And it's likely most lenders will still require it until an alternative approach has been approved. 

We're making Titan Analytics even easier!

|

We've already told you that Titan Analytics works with all MLS websites — and it does.  But, when we read our latest survey feedback, we discovered that some users weren't sure how to proceed if Titan Analytics didn't specifically list their MLS as an option.  You spoke, and we listened.

Is your MLS making things complicated?

|

Sometimes even the simplest tasks can end up getting complicated — for instance, not every MLS website exports your data in the same file format.  Little things like that can introduce a needless hassle when you're trying to finish your 1004MC.  We know you're busy enough as it is, so we made sure Titan Analytics works with every major file type:  CSV, TSV, XLSX, and TXT.

Titan Analytics doesn't hold you back

|

Estate settlements, divorces, and other retrospective appraisals often require you to look at MLS data from several years ago.  When you need to use a non-standard dataset, you need your analysis software to take it in stride — and we developed Titan Analytics with your workflow in mind.  From old data to new, we've made sure you can handle any job with ease.  Watch the video below [1:13] to find out a couple of key ways to use this feature on your next report! 

Get blog articles sent to your inbox

Search