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Improving Home Valuation Quality Reviews

Mortgage Solutions, part of Computershare Loan Services, will be the sole provider of valuation reviews for Ventana Home Mortgage, the residential mortgage conduit subsidiary of Window Rock Capital Partners, LLC, an opportunistic, strategic credit investment manager. The Mortgage Solutions team will also provide valuation reviews on rental property assets managed by Window Rock Capital.

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Ventana Home Mortgage will utilize Computershare’s Appraisal Risk Analysis (ARA) to perform appraisal quality control reviews on new loan originations. A cost-effective alternative to traditional field reviews, the ARA report provides an independent conclusion of value and is performed by a state licensed appraiser in accordance with USPAP appraisal review guidelines. The ARA includes area sales data, local home price indices and MLS data. It can be completed in as little as one business day and reports can be customized to specific investor products.

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“In today’s dynamic housing market, trusted, high-quality valuations are critical to the success of our loan programs,” said Joseph Kohout, senior vice president of Ventana Home Mortgage. “After evaluating all the different providers on the market, Computershare stood apart with its team’s depth of valuation experience and its innovative solutions. It’s clear their products were built with a focus on quality and the customer experience, and that gave us immediate confidence that Computershare was the right partner for our needs.”

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For its rental property assets, Window Rock Capital will use Computershare’s Investment Property Analysis (IPA), a desktop review/reconciliation of income-producing property that includes a Form 1007 Single Family Rent Schedule. Each IPA is performed by a certified valuation expert and includes commentary analysis of as-is value and monthly rental rate. The IPA also includes an analysis of both manually sourced and automated rental data, property comparables, and data on local rental market trends.

Backed by a robust team of valuation experts with decades of experience, Computershare’s Mortgage Solutions team offers investors and residential lenders a various suite of valuation products and services nationwide. Both IPA and ARA products are available to lenders and investors as standalone solutions.

Mortgage Solutions President Jim Smith stated, “We’re delighted that Window Rock Capital and Ventana Home Mortgage have placed their trust in our valuation solutions, which have become increasingly popular among investors and correspondent and wholesale lenders. Both the ARA and IPA were developed specifically to deliver the speed, quality and reliability our clients need to demonstrate proper due diligence. We look forward to a long and productive relationship.”

Progress In Lending
The Place For Thought Leaders And Visionaries

Let’s Change The Conversation

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There’s a lot of negativity out there. If you look at the story of the year, the Presidential Election, you have one candidate that became his party’s nominee by insulting his opponents’ looks, mannerisms, etc. That’s all fine and good, but instead of name calling, we should be lifting people up. It’s not enough to insult or even to diagnose a problem if you are not willing to put forth a solution. So, in this issue we at PROGRESS in Lending have decided to change the conversation. We are not going to focus on the negative, we are going to focus on providing solutions.

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For example, there’s a lot of talk about the burden of new regulations. We talk a lot about how those rules are impacting originators, but they are impacting mortgage servicers just as much. So, what should servicers do? Complain about their lot in life? No sir. In this issue, Nickie Badalamenti-Kalas, the President of Five Brothers, courageously points out, “As a servicer and asset manager, you should be focused on maximizing your assets, rather than constantly worrying about these ever-changing compliance requirements. You can’t afford to go it alone, that’s why selecting the right asset management provider is critical to your long-term sustainability.” I encourage you to read what else she said on this topic.

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Also, we don’t think about marketing as a point of contention. However, regulators want to regulate marketing, as well. So, should lenders stop marketing their businesses? Of course not. In this issue, Brandon Perry, the President at The Turning Point, clearly states, “In today’s market with intense competition, mortgage companies cannot afford to stop marketing to prospective borrowers. The key is having the right tools and partner to deliver compliance and control in their mortgage marketing efforts.” To that comment I say: Bravo!

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All throughout this issue you’ll read stories whereby industry visionaries don’t just sulk and moan about tough situations, they roll up their sleeves and look for solutions. If everyone in the industry followed their lead I think the industry would be much better off.

About The Author

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.