Topic:  Newsletter Articles

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...

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...

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...

Fannie Mae funds and guarantees mortgages. If a servicer of a mortgage Fannie has guaranteed has a foreclosure dropped in its lap, Fannie Mae will do most of the legwork when it comes to reselling the property. Now, it will use the XSites Network, and its appraisers will use Appraiser XSites Order Manager, to more quickly and efficiently obtain valuations on repossessed, or Real Estate Owned (REO), properties.   Read more...

Real estate agents can have a strong influence on who the homebuyer chooses for a mortgage broker, especially first-time buyers who may have little knowledge of the home buying process and ask their agent for advice.   Read more...

Back in November we announced a partnership with Wave Systems that would bring digital signature technology to our customers. Many of you may be thinking that digital signatures - or e-signatures as they're often called - are something that only the "big guys" like WaMu or Countrywide use and it will take years for the concept to trickle down to small businesses like yours.   Read more...

Dave Biggers - you know him - e-mailed you last week to let you know how much our first a la mode Annual Convention rocked. Even if he didn't say it in just that way. See his message here. You can visit our post-convention page complete with pictures, video of some of the key panel sessions and events, testimonials and much more here.   Read more...

Your residential clients use Loan Origination Systems (LOSs) the way you use WinTOTAL form filling software - it's their mission critical application they use to manage almost everything they do day to day. They keep track of borrowers' files and paperwork. They order credit scores and get preliminary underwriting decisions. They order appraisals.   Read more...