TheMReport — News and strategies for the evolving mortgage marketplace.
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Th e M Rep o RT | 3 Co nte nts 12 When Good neWs Gets a Bad Rap The good news: With lending loosening, potential homeowners and mortgage professionals should be optimistic about the future. The bad news: Nobody's getting the good news. 16 deliveRinG to diGital do-it-YouRselfeRs The current generation of first-time homebuyers thinks digitally and responds impatiently. Lenders need to be up to speed. Here's how. 20 dodd-fRank's domino effect Now accountable to regulators, insurers, and lenders, title and settlement agencies may be reaching a tenuous tipping point. 24 collatoRal damaGe? Within weeks, Fannie Mae will allow lenders—but not appraisers—access to its Collateral Underwriter analytic tool. Should appraisers be nervous? Or will increasing transparency keep the quality of appraisals high? special section 27 pRopeRtY valuation Guide Today's most successful valuation companies depaRtments 8 mdWell The 10 best Places to Retire 10 take 5 Bill Steinmetz, CoreLogic' 11 mcRoWd See Who's Moving On and Moving Up in the Industry TH E M REP O RT | 33 Special Advertorial Section PROPERTY VALUATION GUIDE COMPANY DESCRIPTION: MCS Valuations, one of the leading full-service valuations providers in the industry, performs property valuations in all 50 U.S. states and surrounding territories with a product suite that includes BPOs, appraisals, evaluations, reviews, and reconciliations. Our long history of providing data-validated products utilizing industry-leading quality tools, combined with excellent customer service, delivers data integrity and valuation accuracy for use throughout the life cycle of a loan. Our tenured management brings years of mortgage lending experience as well as active participation in the valuation industry. COMPANY HISTORY MCS Valuations has been providing services in the valuation industry for more than 15 years with experience providing quality products and services to our clients, including some of the largest lenders and loan servicers in the country. Our tenured management has been in the mortgage and valuation industries through the economic and regulatory changes, allowing us to understand your business and the importance of regulatory compliance along with excellent service. REGULATORY COMPLIANCE Complying with evolving regulations and guidelines has introduced a new level of risk. These new demands require a reputable, financially stable business partner that you can depend on to help ensure valuation accuracy and mitigate compliance risk. KEY FEATURES/BENEFITS Data Validated Products Our valuation products are data validated and pre- reviewed by industry leading quality tools, providing the combined benefits of data integrity, valuation accuracy, and other market indicators along with the additional value added analysis provided by our knowledgeable quality control staff. Our expertise in review and interpreting our data validated products saves our clients time, steps, and cost, and enables faster, exception-based processing of valuations. Best-In-Class Broker Panel Management High quality valuations start with best-in-class vendor panel management. At MCS Valuations, we maintain uncompromising standards and panel management by including comprehensive vendor scorecard systems to continuously and objectively evaluate, score, and reward quality performance. Product Quality At MCS Valuations, we are committed to compliance and regularly review our policies and procedures to help ensure conformance with applicable laws, including the Uniform Standards of Professional Appraisal Practice and Interagency Statement on Independent Appraisal and Evaluation Functions guidelines. In addition, every valuation report undergoes a quality review to help ensure adherence to secondary market guidelines and any custom specifications you define. Technology ValuEdge and SourceNet, our proprietary online technology systems, let you place, track and deliver orders around the clock from anywhere you have Internet access. These systems also manage the valuation process and track panel member performance for quality, workload, and turnaround time. National Coverage Our nationwide panel network of appraisers and brokers reaches every ZIP code in the U.S. and its surrounding territories. The coverage we provide helps ensure we can always serve your valuation needs. COMPETITIVE ADVANTAGE MCS Valuations' data-driven and validated solutions incorporate property characteristics, available comparable properties, and risk-based scoring models to arrive at an accurate and reliable property valuation. Valuation accuracy provides greater confidence in risk assessment and decision-making (over/under valuation scores, integrity scores, complexity scores, etc). Our best-in-class panel management practices and scoring models ensure high quality third-party vendors and drive order assignments to the best qualified local real estate professional. • Comprehensive vendor scorecard system to continuously and objectively evaluate score and reward quality performance • A performance-based order allocation ensures order volumes are routed to vendors based on "Platinum", "Gold" or "Silver" classifications ADDED VALUE TO CLIENTS MCS Valuations adds value to our clients by providing data-validated products that are reviewed for quality and accuracy by a staff of highly trained appraisers and real estate professionals. Our quality control staff is able to interpret the additional robust data tools available to ensure the final product is a value our clients can rely upon. Our experience allows us to understand the complexity of the environment our clients are navigating and align our processes to best meet their expectations. key personnel Caroline Reaves Chief Executive Officer Chad Mosley Senior Vice President Marc Hinkle Senior Vice President Katie Parkey Vice President Ryan Sedgwick Vice President Operations Kim Drake-Loy General Counsel/Chief Compliance Officer staf f ing 125 employees contact infor mat ion 150 West Civic Center Drive Ste. 500 Sandy, Utah 84070 877.899.8799 6504 International Pkwy., Ste. 1500 Plano, Texas 75093 Web: MCSValuations.com MCS Valuations VA L U AT I O N S TH E M REP O RT | 31 Special Advertorial Section PROPERTY VALUATION GUIDE COMPANY HISTORY Founded in 2004 as Atlas REO Services, Atlas Nationwide specializes in the comprehensive management of Real Estate Owned (REO) proper- ties for institutional clients. Since inception, Atlas Nationwide has managed more than 140,000 prop- erties with a value in excess of $15 billion for industry leading clients such as Freddie Mac, Fannie Mae, Chase, Bank of America, GMAC/RFC, Citi and EMC. BUSINESS LINES, SERVICES, AND PRODUCTS Atlas Nationwide offers a wide variety of customized, national real estate solutions: appraisal manage- ment, full service REO management, closing and title management, broker/buyer/seller referral network, national evictions management, property preserva- tion management, and business intelligence (prop- erty management software and business analytics). Valuation products include: residential, multifam- ily, and review appraisals; and residential broker price opinions (BPOs). The appraisal management services team is dedicated to providing efficient, reli- able, and cost effective valuations services. COMPETITIVE ADVANTAGE Our mission is to be anything but business as usual. The Atlas Nationwide appraisal management team has broken the mold of the tired AMC that falls short, delivers inferior products, and places clients at risk. Our commitment to uncompromised quality of products, superior customer service, and our track record of proven success set us apart from our competition. ADDED VALUE TO CLIENTS • Full control over your panel of appraisers: Use your trusted appraisers and still maintain ap- praiser independence compliance because of our technology infrastructure. • Total transparency: Clients use a secure login to see status of every appraisal order, plus receive milestone notification emails so you're always in the loop. • Eliminate delays and frustration: Our extensive quality control checks are run before the report is ever delivered to clients. • Built-in compliance tools: Integrated safeguards for CFPB, OCC, DFA, FHA, GLBA, ECOA, and more. We can even handle electronic delivery of the report to your borrower in compliance with the E-Sign Act. • Full audit trail for protection: In case of audit or exam, you'll have a full audit trail of every appraisal order to prove compliance. • Atlas is at the forefront of appraisal regu- latory compliance guidance including Interagency Appraisal and Evaluation Guidelines, Dodd-Frank, UMDP, USPAP, UCDP, UAD and federal and state appraisal independence laws. KEYS TO SUCCESS Atlas Nationwide has enjoyed long term success based upon our dedication to our core principles and maintaining a strong company-wide culture. Our strong record of performance can be attributed to our dedication to hiring and training the best possible talent; maintaining clear and consistent processes and a significant investment in developing proprietary systems and analytics. 2015 GOALS AND STRATEGIES Atlas Nationwide is dedicated to expanding its core base of specialized REO Management services into the national real estate services sector. Leveraging more than 10 years of established business ex- perience combined with the dynamic real estate experience of its management team and a unique corporate culture, Atlas Nationwide is well on its way to becoming an industry leader in a wide variety of real estate services enterprises. INDUSTRY AWARDS AND ACCOLADES Atlas Nationwide has consistently maintained top level performance for all of our clients. Our per- formance coupled with our demonstrated ability to manage and connect with vendors across the county earned Atlas Nationwide the Pinnacle Award for Top Outsourcer of the Year in 2012. SPECIALTY, EXPERTISE, AND QUALITY CONTROL INITIATIVES. Atlas Nationwide has extensive knowledge and experience working with all types of Institutional, pri- vate and GSE clients. We successfully navigated the recent foreclosure crises and emerged as a leader in managing innovative real estate solutions to the mortgage banking industry. Over the past 10 years, we have demonstrated our ability to remain nimble in a rapidly changing environment while maintain- ing high quality and reducing risk. Our mission is to ensure superior performance and service levels that exceed our clients' expectations by utilizing proprie- tary management systems and tailoring our process to meeting the individual needs of our clients. key personnel Gregg Buckley Co-Founder, Atlas Nationwide Inc. David Hovley Co-Founder, Atlas Nationwide Inc. Ryan Duncan Senior Vice President Patrick McClain Senior Vice President Brian Devlin Vice President Valuations and Field Services Laura Branca Vice President Closing and Title Services staf f ing 100+ employees contact infor mat ion 215 South Highway 101, Ste. 200 Solana Beach, California 92075 Phone: 858.259.8758 Email: brian.devlin@atlasnationwide.com Web: atlasnationwide.com Atlas Nationwide 30 | TH E M REP O RT Special Advertorial Section PROPERTY VALUATION GUIDE CORPORATE PROFILE Southwest Financial has been a trusted partner of many of the nation's largest lending institutions for over thirty years. Proven solutions and state- of-the-art technology combine to offer clients seamless and efficient title, flood determination, and valuation services. Dedicated lender teams provide the foundation for efficient, professional, and customized service for every client. COMPANY HISTORY Founded in 1983 by President and CEO Gregory Schroeder, Southwest Financial is headquartered in Cincinnati, Ohio, and has grown to become one of the nation's largest providers of valuation and appraisal management solutions. BUSINESS SCOPE Southwest Financial offers nationwide coverage that encompasses diverse valuation business lines, services, and products including: AVM Testing: Southwest Financial has emerged as the leading independent AVM testing company in the country. A twelve month continuous testing cycle allows access to on-demand compliant testing data and reports of more than 20 models. No other com- pany in the industry offers such in-depth coverage. Cascading AVM Platform: Offering all major AVMs powered by robust testing, AVMv employs a ranking system to independently determine the most appropriate automated valuation models (AVMs) for a given region, and can be combined with property condition products to offer a compli- ant evaluation solution. Desktop Valuation Solutions: The Clear View Desktop Appraisal product combines the expertise of local appraisers with the objectivity of advanced data and analytical tools. Integrated with a prop- erty inspection and a detailed reconciliation of the subject property data, Clear View provides a thor- ough collateral assessment. Southwest Financial has developed a competitive solution that allows lenders to bridge the gap between automated and traditional valuations. Appraisal Management: Southwest Financial boasts a complete lineup of standard and customized appraisal products along with a national appraisal management presence. Quality Control includes both automated and manual audits of every report. COMPETITIVE ADVANTAGE Southwest Financial offers unwavering dedica- tion to customer service, which is reflected in the company's unique structure. Every client is assigned a specialized bank team created specifi- cally for the customized requirements of each par- ticular lender. Employee development and training are highly valued, and all bank team members are educated with regard to each product or service that may be part of a client's specific portfolio. This cross-functional approach greatly expedites the resolution of issues and improves overall service for the lender. An ongoing investment in technol- ogy has allowed the company to remain on the cutting edge of the valuation industry. An in-house technology and development staff has resulted in a company-wide emphasis on adaptation and innovation. KEYS TO SUCCESS Partners are vital to Southwest Financials' suc- cess. Since its inception, continual development of business relationships with both appraisers and other field professionals has been a primary focus. Particular emphasis has been placed on relation- ship elements such as timely payment for services, effective and open communication, and ongoing education and training. A staff of in-house apprais- ers and real estate professionals offer continual assistance and support. ACCOLADES & AWARDS Southwest Financial was voted one of the top workplaces in Cincinnati, and the company has re- ceived endorsements from multiple state and local organizations as a preferred provider of mortgage solutions. Commenting on Southwest Financial's dynamic approach, Pat Grengs, SRA, RM, chief appraiser for Northland Appraisal, Inc., noted, "I have had the privilege of an appraiser-client relationship with Southwest Financial for 15 of my 30 years of ap- praising real estate. I have personally experienced their AMC-appraiser 'partnership' as a business model that led to long-standing collaborations, such as the professional friendship established between a Minnesota-based appraiser and the experienced personnel at an Ohio-based AMC." 2015 GOALS AND STRATEGIES Industry developments and regulatory changes present ongoing challenges for lenders and third parties. A proactive approach to quality control and compliance provides lenders with the confi- dence that Southwest Financial has the strength and stability to be best-in-class. A sharpened focus on technology and efficiencies will be key to keeping costs low in the coming year. key personnel Gregory Schroeder President & CEO Jon Forrester Director of Real Property Valuation Services Cathy Erbaugh Director of Sales & Marketing Ted Mullucey Director of Contractor Development Jim Cole Director of Operations staf f ing Employees: 140 staff contact infor mat ion Cathy Erbaugh/Director of Sales & Marketing Office: 800.733.3312, ext. 1333 Email: cathy.erbaugh@sfsltd.com 537 E. Pete Rose Way, Ste. 300 Cincinnati, Ohio, 45202 Phone: 800.733.3312 Web: sfsltd.com Southwest Financial Services LTD.