Condo Lending: New Ideas to Take Out the Hassle and Lower the Risk

Condos, roughly 10 to 15 percent of the overall origination market, are poised to grow, thanks to strong demographic tailwinds.  But condo lending continues to be an inefficient, expensive and potentially risky prospect due to the dual requirements of underwriting both the loan and the condo project itself. In fact, by some estimates the paperwork and back and forth with Condo Associations can add several hundred dollars to the cost of origination.

Now industry efforts to standardize and streamline the project underwriting process have begun to address common pain and choke points in the process, and offer lenders of all sizes new options when it comes to condo lending.

Join a one hour, free web event where leading mortgage industry experts will offer insight into the growing market and advice on combatting common condo lending challenges, including:

  • The current state of the condo lending market, and the economic and demographic forces that will fuel its growth.
  • Navigating the challenges of safely and efficiently underwriting condo projects.
  • Common “gotchas” – including project status, investor ownership and finance and legal issues—that can result in wasted time, scratch and dented loans and even GSE “put-back” demands.
  • The true cost of “chasing and placing” condominium project documents.
  • Top 5 tips to help lenders streamline the process, reduce costs, and lower repurchase risk.
  • An opportunity to talk with the experts about your own condo lending questions.

Presenters

Sam Khater
Vice President and Deputy Chief Economist
CoreLogic

Jacqueline Doty
Vice President of Industry Solutions
CoreLogic

Tom Westerfield
Director of Collateral Risk
Speedy Title & Appraisal Review Services, LLC. (STARS)

Sam Khater is responsible for real estate market analysis and collateral model development with the Office of the Chief Economist CoreLogic within the Data & Analytics group.Prior to joining CoreLogic in August 2007, Sam was a senior economist for nine years at Fannie Mae, providing economic, mortgage and housing finance policy analyses in the Economics and Community Development divisions.
 
Jacqueline Doty is responsible for the strategic planning, research and development of the company’s innovative products and solutions. Jacqueline previously served as director of collateral risk management for Freddie Mac, overseeing risk related to residential real property valuation, directing policy development, implementing risk management plans and working frequently with clients, government agencies, regulators, trade organizations and the media. Tom Westerfield oversees the appraisal and project underwriting functions as well as the Staff Review Appraisers and Staff Field Appraisers at STARS. Tom holds the SRA designation with the Appraisal Institute and has an active Certified General Appraiser license in 3 states.  Tom has over 29 years in the valuation area in both residential and commercial properties. 

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Thursday, February 11, 2016

2pm ET / 11am PT

Who should attend:

  • C-level executives
  • Origination and production
  • Operations
  • Secondary marketing
  • Compliance, risk and quality control