We will have lots of time to practice UAD 3.6

[J Grant]

WASHINGTON (AP) — The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House.

The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could result in higher borrowing costs for mortgages, auto loans, and credit cards. In a set of quarterly projections, the Fed also signaled that its rate-setting committee expects to hike rates a second time later this year to 4.1%.

“Today’s policy action will support a timelier return” to the central bank’s 2% inflation goal, the Fed said in a statement.

Looks like on the lender end of work it will be slow - bad news for paying bills, good news is there will be a lot of free time to practice the UAD 3.6

 

[HVNY]

As long as people die or get divorced I'm good

 

[NC Appraising]

The good Ole Wednesday report..

Thanks to the appraisal foundation....all of those fog a mirror appraisers will have all the time on their hands too. Maybe they will use some of those funds they got to use for their unemployment?

Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher

Mortgage rates have surged to the highest level since the start of 2025, causing a major pullback in mortgage demand.

www.cnbc.com

 

[Doug Wegener]

As long as people die or get divorced I'm good

You can count on those two.

 

[Vermonter]

Yup and just heard a rumor one that after 25+ years of direct ordering, my top local credit union client is moving to an AMC.

Have not got confirmation, but that could be the push out the mortgage lending door I needed.

 

[glenn walker]

Small direct lenders and credit unions are moving away from direct orders and with 3.6 most will not want the headaches managing orders- reviewing them and even having to increasing staff.

It's much cheaper and less liability to close in-house and outsource to an appoved AMC who deals with the headaches. Cotality and other large AMCs are in the field getting new clients signed up for Novembers orders and training people.

 

[TerryRohrer]

Cotality and other large AMCs are in the field getting new clients signed up for Novembers orders and training people.

Who is Cotality's AMC?

 

[alebrewer]

Small direct lenders and credit unions are moving away from direct orders and with 3.6 most will not want the headaches managing orders- reviewing them and even having to increasing staff.

It's much cheaper and less liability to close in-house and outsource to an appoved AMC who deals with the headaches. Cotality and other large AMCs are in the field getting new clients signed up for Novembers orders and training people.

It is true that a pass through model is cheaper for lenders. The decision lenders have to make is: do we want appraisals sourced to the cheapest and fastest appraiser, or do we want to establish relationships with quality appraisers? For many lenders, the latter is the preferred solution.

 

[glenn walker]

It is true that a pass through model is cheaper for lenders. The decision lenders have to make is: do we want appraisals sourced to the cheapest and fastest appraiser, or do we want to establish relationships with quality appraisers? For many lenders, the latter is the preferred solution.

We h