WASHINGTON, D.C. (June 29, 2020) — MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the Supreme Court ruling in the case of Seila Law LLC v. Consumer Financial Protection Bureau (CFPB).

“MBA believes that severing the provision related to the independence of the CFPB’s Director was the appropriate remedy if the Court found the Bureau’s structure to be unconstitutional. While we may not agree with every action the Bureau has taken in the past, today’s ruling will ensure the Bureau’s rules that our members and the nation’s consumers have come to rely on remain in place. We look forward to continuing conversations on the best structure for the CFPB as it fulfills its important statutory mandates to create strong consumer protections and promote financial opportunity.”

By adding Property Vision to any contact-less valuation product, including AMVs, lenders gain the benefit of more accurate valuations and safer older borrowers

Washington, D.C., – June 24, 2020 – Appraisal Logistics, a leading provider of high quality appraisal management services, technology and compliance solutions for the residential/commercial mortgage industry, announced today that the company’s new Property Vision appraisal inspection tool will remain free for the time being. Older Americans continue to face higher COVID-19 risks and reverse mortgage lenders are currently in need of a method for receiving higher quality valuations while keeping these older borrowers safe.

“Lenders have embraced Property Vision because it allows their appraisers to provide a more accurate opinion of value without putting the lender’s customers and appraisers at risk,” said Frank Danna, CEO of Appraisal Logistics. “Nowhere is this more important than in the reverse mortgage lending space, where our borrowers face higher risks. Property Vision keeps the industry running without putting our people or our borrowers at risk.”

Property Vision gives borrowers the assurance that their lender cares about their health and safety and gives lenders fully compliant real estate valuations, all while keeping appraisers out of harm’s way. The new products are acceptable to agency investors and meet the GSEs’ guidelines for collateral valuation during the COVID-19 crisis.

Recently, the Federal Housing Administration increased its maximum claim amount for reverse mortgages for 2020. This year, the HECM limit rose to $765,600 from 2019’s level of $726,525. This is the fourth year that the FHA has increased the HECM limit.

Appraisal Logistics developed Property Vision to allow the consumer to take interior photographs of their home using any web-enabled device equipped with a camera. There is no app to download and consumers are provided with simple instructions that walk them through the process. The technology automatically collects geocoding information and other metadata to ensure that the photographs are of the subject property and then makes them available to the appraiser.

Providing Greater Home Financing Power for Highly Qualified Borrowers

EAST MEADOW, NY, JUNE 16, 2020 -- Sprout Mortgage, the leading nationwide force in non-QM residential lending, today announced enhancements to its recently unveiled suite of non-QM programs that are designed to provide additional home finance options to creditworthy borrowers.

“We’re pleased to broaden the qualifications and capabilities of our programs to help our clients meet the needs of borrowers in today’s evolving markets,” said Michael Strauss, President.  “Our Premier, Select and Inve$tor programs, along with innovative technology and highly skilled Account Executives, combine to make non-QM mortgages easy and convenient for our clients while providing a broad range of solutions for many different home finance scenarios.”

The new enhancements include:

• A new Max 85% LTV on most loan programs
• Reduced rates across the entire program offering
• Increased maximum Loan Amounts at lower Loan-to-Value levels on the Select program series

Today's news follows Sprout’s May 27 announcement launching four non-QM programs including full doc, bank statement, asset depletion, and investor financing, with loan amounts to $4 million.

Sprout's loan programs are accessible through many widely used mortgage product and pricing engines including Optimal Blue, Loan Sifter, EPPS LoanNex and Mortech.  Full details are available to mortgage professionals through the Sprout Client Portal, while Sprout's easy-to-use iQualifi app provides scenario eligibility and pricing.