DataQuick, San Diego, has acted as a reseller of automated valuation models (AVMs), and has now stepped up to produce its own AVM solution called the Valuator.At this year's MBA National Technology in Mortgage Banking Conference and Expo, DataQuick director of valuation products Randy Ilas sat down with National Mortgage News to explain why he feels the company is ready to take this next step. He explained that "AVMs are only as good as the data that produces them." Mr. Ilas said that "the company's heritage in fielding this data will help them in rolling out their own AVM product." DataQuick can be found on the Web at www.dataquick.com.
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The latest study from LodeStar found the ratio of average closing cost to home sales price in several states, led by Delaware, well above the national average.
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The benchmark 10-year Treasury yield topped 4.4% on April 29 — its highest level since late March — as investor anxiety mounted.
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The technology firm posted annual gains in servicing, origination and closing solutions, although the segment at large posted an operating loss.
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Growth in retained and investment portfolios drove gains as the government-sponsored enterprise reported the highest refinancing share seen in four years.
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Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.
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Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.
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