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Blog Entries by Yanling Mayer

How Much Is Your Home’s Collateral Value?

Traditional Appraisal and Automated Valuation Models Don’t Always See Eye to Eye

Yanling Mayer    |    Housing Trends

Recently the two government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced plans to waive the requirement of a professional appraisal on qualified purchase loans with a loan-to-value ratio at or below 80 percent.[1]  For Fannie Mae, the new waiver option extends the...

Comp Prices Often Exceed Subject Property Prices in Appraisals

Price Adjustment on Higher-Valued Comps Are Frequently Small and Downwardly Rigid

Yanling Mayer    |    Housing Trends

Price Distribution of Comp Transactions

A previous blog reported that appraisals are often identical to or exceed the contract price. In it, the analysis showed that nine out of 10 appraisals were either at the contract...

The Accuracy of Comparable-Property Data in an Appraisal Report

Appraisal-report comp prices from an MLS generally match public-record sales prices

Yanling Mayer    |    Housing Trends

Accuracy of Reported Comparable Prices

One of the many challenges when underwriting a loan is to make sure the appraisal provides a reliable assessment of the collateral’s value. Fortunately, to meet the challenge and to stay compliant in a demanding regulatory environment, appraisal reviewers and underwriters have increasingly incorporated automated appraisal review technology for faster and more cost-effective collateral...

Collateral-Related Loan Denials Exhibit Wide Geographical Variations

Volume of Sales, Market Distress, Home-Price Growth May Be Causes of Variation

Yanling Mayer    |    Housing Trends

Home Appraisals below Sale Contract Price, 2015

In a November CoreLogic Insights Blog, collateral was noted as the third most-frequently-cited reason for denials (13.7 percent) for nearly 450,000 first-lien purchase mortgage applications on one- to four-family,...

Collateral Issues Are Third Most-Likely Cause of Mortgage Loan Denial

About 10-13 Percent of Appraisals are Below Pre-Closing Contract Price

Yanling Mayer    |    Housing Trends

Percentage of Appraisals

According to newly released 2015 Home Mortgage Disclosure Act (HMDA) data, collateral was the third most-frequently cited reason for denials of mortgage loan applications, or 13.7 percent on first-lien purchase mortgages for one-to-four family, owner-occupied homes – trailing distantly behind denials citing applicant’s debt-to-income ratio (23.4 percent) or credit history (20.4...