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Industry News Update: Pro Teck’s CEO Writes about Changes in Secondary Market Due-Diligence for Mortgage Banking Magazine

Pro Teck Valuation Services CEO Tom O’Grady was recently featured as a guest columnist by Mortgage Banking Magazine, the monthly magazine of the Mortgage Bankers Association.

O’Grady’s column — Today’s Secondary Market Collateral Due-Diligence Practices — offers insight on the many lessons learned from the fallout from the housing crisis, and the resulting regulation and improved risk policies that continue to have positive impacts.

“The housing crisis raised awareness of how important accurate home values and compliant appraisals were to the performance of mortgages and RMBS as well as the sustainability of a healthy secondary market. Rating agencies, MBS issuers and valuation providers have responded with much-needed improvements in collateral valuation and due diligence, and the industry as a whole is in a better place because of this.”

The article provides a then-and-now comparison of collateral due-diligence best practices regarding: whole loan trades and mortgage-backed securities.

Click to download the attached PDF to read the entire column.

As an acknowledged leader in the real estate finance industry, Pro Teck’s mission is to provide customers with the most accurate and timely real estate information possible through a transparent process that meets all industry requirements in a complex regulatory environment.

Check back for continual updates on what Pro Teck’s leaders are saying in various industry publications and online reports. For more even more information on Pro Teck’s role as a top tier appraisal management company, or to discuss future collaborations, contact us today.