New a la mode data center, expansion means more Agent productivity, support
July 01, 2004
a la mode has completed expansion of its headquarters here to accommodate a new data center and customer service department. The new data center houses more than 100 servers, and is supported by seven full-time MIS staff. A 485 horsepower turbo diesel-powered backup generator protects a la mode customers from downtime in the event of a local power loss. The generator powers a la mode’s entire 25,000 square-foot headquarters, including servers, when necessary.
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What slowdown? Even rate hike won’t stop home buying surge
July 01, 2004
Mortgages, car loans and business debt should become more expensive after the Open Market Committee of the Federal Reserve's decision to raise the federal funds rate — the rate that banks charge each other for overnight loans — by a quarter point. Mortgage rates, among other things, react to changes in the federal funds rate, which has been cut six times since the disaster of September 11, 2001. This week was the first time the rate has been raised since May 2000. Click to read more
MLS import from REALTOR.com® to be disabled
July 01, 2004
Homestore®, owns, or has, licensed trademark rights to the words REALTOR®, REALTOR.com® and operates the REALTOR.com® website. Homestore® maintains that it owns the factual information you upload to the REALTOR.com® site, and not you. Accordingly, we have been told to cease and desist allowing you to enter your listings' MLS number and display your REALTOR.com® listing on your Agent XSite for your prospective buyers. Homestore® requires instead that if you upload your listings to REALTOR.com®, that they be displayed in proximity to your competition's listings on the REALTOR.com® site, and nowhere else. Click to read more
Rates will rise, but business will continue to boom
June 29, 2004
Mortgages, car loans and business debt should become more expensive after the Open Market Committee of the Federal Reserve meets tomorrow and, as widely expected, raises the federal funds rate — the rate that banks charge each other for overnight loans. Mortgage rates, among other things, react to changes in the federal funds rate, which has been cut six times since the disaster of September 11, 2001. Consensus seems to be that the Committee will raise the rate by at least one-quarter of one percent, the first time the rate has been raised since May 2000. Click to read more
Appraisal Foundation wants your input on issues important to you
June 29, 2004
The Appraisal Foundation has developed a web-based survey of practitioners in the appraisal profession, which it has sent some 60,000 of you. Many of you have received the e-mail, but those who haven't, or who have yet to take a few moments to provide your input, the Appraisal Foundation urges you to do so. Click to read more
New 2055 test form, two more released; Fannie says it intends to reduce overall number of forms
June 29, 2004
Fannie Mae released June 24 three more revised appraisal report forms: a new 2055, and new co-op forms 1073 and 1075. As with their release of test versions of a new URAR, 1004B and 1004D June 3, their stated goal is to allow/require appraisers to "report the results of his or her appraisal in a more concise manner than our existing report formats," it said. Click to read more
AVMs don’t need “standards” and certainly don’t deserve advocacy by companies and organizations that
June 23, 2004
A hot topic lately in our e-mail and phone correspondence with customers and noncustomer appraisers, on Internet message boards, Yahoo! "user groups" and Internet e-mail lists has been appraisal technology provider sponsorship of conferences promoting Automated Valuation Models (AVMs), as well as dues-charging appraiser advocacy associations becoming involved with establishing standards for AVM usage in mortgage transactions so that they can be used more reliably in place of full appraisals. Click to read more
Former WaMu Chief Appraiser tapped to help expand credit reporting business
June 23, 2004
American Reporting Company, offering credit reporting services for the real estate, mortgage and business communities, has tapped former Washington Mutual Chief Appraiser Sue Potteiger as its new president, with the goal of "grow[ing] the business from a Credit Report centric company to developing and managing a complete suite of settlement services to include Credit, Appraisal, Title, Escrow and Flood," the company reported. Click to read more
Manufactured housing poised for strong rebound. Brace yourself for a manufactured housing comeback.
June 23, 2004
A new Fannie Mae program introduced this year is anticipated to increase manufactured housing financing by 33 percent. Conseco Finance, one of the largest MH lenders which, dragged down principally by its MH business, filed for bankruptcy protection in 2002, was purchased recently out of bankruptcy by CFN Investment Holdings. Large mortgage originators U.S. Bank and GMAC Residential Funding have entered the arena recently. Large lenders like Chase and Origen Financial remain committed to MH funding. Click to read more
Leveraging your XSite for more, and more productive, business
June 15, 2004
Last week we asked XSite users how they've been evangelizing to their clients to train them to take full advantage of XSites' ordering, status reporting and secure report delivery. We heard a number of success stories. Click to read more
