AllRegs Taps Brian Coester For New Educational Materials

Posted by Orb Staff on July 14, 2010 No Comments
Categories : FYI

s has commissioned Brian Coester, CEO of [link=http://www.coesterappraisal.com]Coester Appraisal Group[/link], based in Gaithersburg, Md., to create instruction manuals, video tutorials and classroom training programs for lenders. These educational materials will be distributed by AllRegs to educate lenders on how to protect themselves against repurchase requests based on erroneous assessments of the loan file's appraisal. According to Coester, discrepancies in appraisals account for roughly 15% of all repurchase requests. Once a buyback letter is received, the recipient is under obligation to repurchase the loan in question unless it can prove that it is not responsible for the discrepancy. Coester's new materials will address the specific steps that the recipient of a buyback letter can take to determine the validity of the claims, and successfully refute them if inaccurate. ‘Repurchase requests that are based on faulty or erroneous appraisals are often built on misunderstandings,’ says Coester. ‘But because many lenders don't know how to appropriately respond to the request, they end up repurchasing the loan, even though they're not at fault. As with any process, there are certain processes and procedures that greatly enhance a lender's chance of successfully refuting the request.’ SOURCE: [link=http://www.allregs.com]AllRegs

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