Lenders are ultimately responsible for the quality and accuracy of appraisals. That means their quality control teams need to review every appraisal to preserve rep-and-warrant protection.
Lenders with high adoption rates for tools from Freddie Mac like automated collateral estimator and asset and income modeler have significantly lower per-loan costs and higher per-loan profits, the GSE says.
The dollar volume of mortgage repurchases by banks declined by 5.4% on a sequential basis during the third quarter. Western Alliance Bank led in loan removals for the second straight quarter. (Includes data table.)