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Blog Entries by Dominique Lalisse

Escrow vs. Non-Escrow Mortgages: The Trend is Clear

Escrow accounts increasingly more popular among Borrowers and Lenders

Dominique Lalisse    |    Housing Trends

Penetration of escrow accounts by State

For the past several years there has been a strong push in the mortgage servicing industry to move borrowers to mortgage escrow accounts. A recent analysis by CoreLogic shows that currently almost 80 percent of all borrowers are paying their taxes (and insurance) through escrow accounts. This represents an increase of 900 basis points in the rate over the past six years.

However,...

Challenges of Loan Origination – Estimating Accurate Property Tax Amounts

Current Industry Practice, Potential Improvements and Benefits

Dominique Lalisse    |    Housing Trends

In the days prior to the democratization and standardization of credit scores and credit reports, the process of estimating a borrower’s credit worthiness was a non-standardized, cumbersome and time consuming process. The process relied on specialized knowledge and personal interpretation of financial information. As the mortgage process evolved, breakthrough productivity and quality...

Proposition 13 Property Tax Legislation Adds to Challenge in Estimating Future Property Tax Amounts

Underscores Need for Accurate Property Tax Estimating Algorithms

Dominique Lalisse    |    Housing Policy

Histogram

Estimating property tax amounts throughout the United States is a challenging task due to the complexity and differences in taxing agencies across the country. That challenge is even more complicated in areas in which legislation caps tax increases for existing residents.

In 1978, California amended its Constitution to add Proposition 13, officially named the People's Initiative to...

Comparing the Real Cost of Owning Property Across the United States

Illinois has the highest property tax rate in the U.S., Hawaii has the lowest

Dominique Lalisse    |    Property Valuation

States Ranked by Media Property Tax Rates

The accurate estimation of the amount of property taxes in any given area throughout the country is a challenging task due to the complexity and heterogeneity of property taxation in the United States. The total amount can include property taxes paid to multiple agencies with varying formulae, including both fixed and variable components. To provide a meaningful comparison of property tax...

New Mortgage Origination Rule Shines Spotlight on Need for More Accurate Tax Estimates

Analysis of consumer complaints and mortgage servicing issues related to inaccurate tax estimates at closing.

Dominique Lalisse    |    Housing Policy

Percentage of Total Complaints

The new TILA-RESPA (Truth in Lending Act/Real Estate Settlement Procedures Act) rule, referred to as TRID (TILA-RESPA Integrated Disclosure), focuses on increased quality and accuracy of information for settlement services. While these issues are important, transparency, speed and accuracy of escrow estimations remain key areas of opportunity to improve homeowners’ experience as...