I hope everyone's 2017 is off to a great start. At Dart
Appraisal, we're coming off a record year and looking forward to
another year of serving our lender partners. As I'm sure is similar
to most people working in the mortgage industry, we have a watchful
eye on the interest rate environment, trying to anticipate what
volumes will look like in 2017.
Market Outlook. According to Fannie Mae's
December Home Purchase Sentiment Index, the number of Americans who
expect mortgage rates to fall decreased (as expected), and even
fewer consumers say their household income is significantly higher
than it was a year ago. And while home values have continued to
rise, the recent bump in rates appears to have caused homeowners to
hesitate on tapping into their gains in home equity.
On the bright side, mortgage applications increased 4% last week
according to the Mortgage Bankers Association's weekly survey. The
general opinion remains that the new administration will be
pro-business and pro-growth, which would lead to more jobs, rising
incomes and a strong housing market. With Inauguration Day behind
us, consumers and the market alike will soon get a clearer picture
of what we can expect from the housing industry.
Alternative Valuations. The lending environment
is constantly changing, and the market place has identified needs
beyond/in addition to a traditional appraisal when it comes to
valuations. At Dart Appraisal, we're always striving to offer the
most unique and efficient products that meet our partners' needs.
Already in 2017, we've piloted a quick valuation product that
delivers real-time, property-level insights on value and risk. This
product not only provides a confidence score for both purchase/sale
and rental purposes, it includes a value forecast for that
property, comparable housing sale prices, and analyzes the local
market for inventory, economic and employment trends. This report
can be ordered on a single property, or in large batches - we can
turn up to 20,000 reports around within one week. We'll have an
official announcement on this product soon, but if you want to
learn more today contact our VP of Sales, Marc Tatarcuk, at email@example.com or 248.273.8640. We
also offer a full suite of other alternate products, including
AVMs, BPOs, Desktop Appraisals and Property Condition Reports
(PCR), as well as a combination AVM/PCR report.
Dart Year in Review. As I mentioned earlier,
Dart Appraisal had a record year in 2016 in terms of volume. We
launched a relationship with a top 5 national lender, and developed
a new relationship with a top 5 national credit union. We enhanced
many of our LOS integrations (view a list of all integrations here),
and announced a new integration with Calyx Point/PointCentral.
Dart also hired two new executives in 2016. Teressa Hupfer
joined the team as Vice President of Operations, and focuses on
aligning our operational strategy with client needs. She previously
worked as a First Vice President for both FirstMerit Bank and
Citizens Bank. Marc Tataruck came on board as Vice President of
Sales, and leads our team of national account executives. Marc
previously served as the head of residential lending for First
National Bank of America in East Lansing, Michigan, and also has
experience running his own mortgage company.
Lastly, I wanted to share that our headquarters team came
together last month for a hugely successful food drive benefiting
Gleaners Community Food Bank here in Southeast Michigan. Our
executive team matched the staff's donations, and together we
donated more than 200 pounds of food to help our neighbors in need.
I look forward to more community initiatives in 2017, and invite
any of our lender partners to share information on their charitable
giving efforts with which Dart Appraisal could help.
We look forward to working together with our valued clients and
brokers this year, as well as to forming new partnerships in the
months ahead. If there is anything we can do to assist you, please
don't hesitate to contact us at firstname.lastname@example.org.
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