Written by:  Nathan Thomas

Client pressure is arguably the biggest issue residential appraisers face. The recent Responsible Lending Act, bill H.R.1295, introduced in the House of Representatives last month (see our March 29 item), includes some marginal steps to curb it. We are enthused that a predatory lending and mortgage fraud bill covers client pressure on appraisers at all, and advocates deserve praise for getting a foot in the door.   Read more...

We're flipping the switch today (if it were only that simple!) and transitioning the Mercury Network over to our XSites Network system. This is going to mean some very positive changes.   Read more...

You know the old adage: A satisfied customer will tell two people, but an angry customer will tell everyone he or she knows. The lucrative referral business you receive is highly dependent on the experience your clients have with their mortgage transaction. One of the easiest ways to find out whether your client had a good experience is to ask them to fill out customer satisfaction survey after their loan transaction. A survey not only helps you sharpen your skills as a mortgage broker, it also shows your clients you care about improving your business.   Read more...

When we launched the XSites Network - then called the Mercury Network - in 2001, we leveraged the industry's most sophisticated infrastructure and largest pool of appraiser users to create an invaluable resource for mortgage originators. It hasn't taken long for the biggest players in the industry to realize that and take advantage.   Read more...

The home-buying season typically heats up with the arrival of Spring, but this year the temperature isn't the only thing rising. The 30-year mortgage rate rose to 6.01 percent last week, according to Freddie Mac, and many real estate analysts predict that they will continue to rise over the next few months. When interest rates go up, property prices can often soften or go down, making it a good time for would be home buyers to start their hunt early in the season.   Read more...

The home-buying season typically heats up with the arrival of Spring, but this year the temperature isn't the only thing rising. The 30-year mortgage rate rose to 6.01 percent last week, according to Freddie Mac, and many real estate analysts predict that they will continue to rise over the next few months. When interest rates go up, property prices can often soften or go down, making it a good time for would be home buyers to start their hunt early in the season.   Read more...

Few people enjoy negative feedback, but sometimes it's necessary to know what your strengths and weaknesses are in order to sharpen your skills as an agent. One way to do that is to ask your customers to fill out a customer satisfaction survey after their transaction with you. A survey not only helps your craft, it also shows your customers you care about improving your business. When creating your survey, think about what you'd like to ask that will give you an effective idea of how your customers perceive you. Have them rate certain aspects of their transaction (e.g. enthusiasm, availability, listening, communication skills) on a scale of one to 10 of how satisfied they were with your service; ask them open-ended questions such as "What did you like about working with me?" or "What could we do to improve our service?" and invite them to write a testimonial so you can include it on your Agent XSite and in your marketing pieces. Here are some more sample questions to ask:   Read more...

Integration will speed appraisal turn times for Diamond users and generate more business for Appraiser XSites website users nationwide   Read more...

A new bill introduced in the House of Representatives would update the federal appraisal regulatory scheme to "enhance appraiser education and licensing, to improve Federal oversight of State appraisal programs, and to augment appraiser independence," according to a press release issued by Rep. Bob Ney (R-OH), Chairman of the Subcommittee on Housing and Community Development, and Rep. Paul E. Kanjorski (D-PA), senior Democrat on the House Financial Services Capital Markets Subcommittee.   Read more...

Fannie Mae released the final versions of its revised appraisal forms Thursday, after two rounds of proposed revisions released last summer and last November. Our forms programmers are burning the midnight oil to get the new forms pushed out to WinTOTAL form filling software users - for free, as part of your support membership - as soon as possible. Look for the URAR next week.   Read more...