ClickFORMS 6.8 — 1004MC
As you know, the Fannie Mae 1004MC is now required on all residential appraisals as of April 1st. Version 6.8 of ClickFORMS includes the most recently revised version of the 1004MC.

Please be sure to update to the 6.8 version now, so that you are prepared for any auto updates as we release them. For more information about the 1004MC form, visit bradfordsoftware.com and click at the top of any page.

1004MC: Median Sales Price as Percent of List Calculation
"Median Sales Price as Percent of List Price" is not automatically calculated in ClickFORMS. This ratio is measured by calculating the median from the list of ratios for the sold comparables chosen for analysis, and not by dividing the overall Median Sales Price by the overall Median List Price on the form. Because this list is not stored or entered into ClickFORMS, the calculation cannot be automated at this time. Bradford Technologies is currently integrating other solutions with ClickFORMS to provide enhanced analytics.

For a more in-depth explanation, visit http://bradfordsoftware.com/support/1004mc/

Major Network Outage in Silicon Valley, April 9
If you tried to contact us by phone or email yesterday, you were probably surprised to be greeted by silence! In the early morning hours of April 9, unknown saboteurs in 4 locations cut vital fiber optic cables that provide communications service to the Silicon Valley area. Two of these cuts were located adjacent to our office in South San Jose.

A single fiber optic strand can carry up to 1900 phone calls at once; at least 500 of these fibers were cut, and each had to be delicately spliced back together. Service was disrupted to at least three cities and more than 50,000 customers, and the effects were felt across the entire San Francisco Bay Area. In addition to telephone service, internet was disabled, cell phones stopped working, ATMs ceased to function, credit card processing was suspended, and the 911 system went down. A $100,000 reward has been offered for information leading to the arrest and conviction of the vandals.

While our office lost phone and internet, our ClickFORMS servers and web services are located offsite at a secure location and were not affected by this outage.

During this event, we tested a new means of communication: Twitter. Twitter is a "micro-blogging" service, which posts short messages via web or SMS text message. We were able to post updates about the outage on Twitter using a mobile phone. In future, we will use Twitter from time to time to keep you up to date on service issues. You can follow our Twitter updates at http://twitter.com/clickforms.

For more information on this story, visit the San Francisco Chronicle.

NAMB Drops Lawsuit against FHFA over HVCC
The National Association of Mortgage Brokers (NAMB) dropped its lawsuit April 2, 2009, against the Federal Housing Finance Administration (FHFA) over the Home Valuation Code of Conduct (HVCC).

The grounds on which the NAMB originally filed suit were that the implementation of the HVCC did not comply with the requirements of the Administrative Procedures Act (APA). The HVCC also claims the FHFA acted with "arbitrary and unilateral use of their conservatorship power" that is "unprecedented and will prove detrimental to consumers".

“This issue goes beyond the bounds of this particular case,” said NAMB president, Marc Savitt, CRMS, “All companies, investors, and trade groups should understand there may not be a court, any court, able to hear their case while FHFA is utilizing their conservatorship powers.”

The reason given for NAMB's withdraw was so the organization could "assess means by which [it could] refute the FHFA’s claim that no court may review their decisions while the GSE’s are in conservatorship."

Learn more: http://rismedia.com/2009-04-05/nambs-strategic-withdrawal-of-legal-action-against-fhfa/

Things are Looking Up
Residential lenders could originate nearly $2.8 trillion in single-family mortgages this year — a stunning turnaround from last year when fundings totaled about $1.6 trillion, according to a new estimate made by the Mortgage Bankers Association. If MBA's prediction comes true, it would make 2009 the fourth best year ever for fundings. (The $1.6 trillion figure is courtesy of National Mortgage News' Quarterly Data Report.) It also would help turn around an industry that is coming off its worst year since 2000 and has seen hundreds of non-bank and depository funders fail. MBA estimates that refinancings could hit $1.96 trillion this year, a 150% spike from 2008.

The new bullish estimate comes in the wake of recent aggressive efforts by the Federal Reserve to buy GSE-backed mortgage securities in an effort to drive rates dramatically lower. Mortgage rates could hit "lows not seen since the early 1950s and late 1940s," MBA chief economist Jay Brinkman said. Even with low mortgage rates, it is unlikely to stimulate home sales "until we see some stabilization of employment," the MBA economist said. He estimates purchase mortgage originations will total $851 billion this year, down slightly from 2008.

HVCC Appraiser Talkback Survey: What's Really Going On?
WorkingRE Magazine is compiling the opinions of appraisers about the current situation of the profession, now that the HVCC has gone into effect. The results of the survey will be accessible to you, or any other interested party. If you would like to share your thoughts about this volatile issue within the industry, you can express your opinion by filing out the survey here: http://www.surveymonkey.com/s.aspx?sm=1drQU6WrYbQ73E4wH2vKVw_3d_3d

More information about this survey can be found here: http://www.workingre.com/workingre/hvcc-talkback-survey.htm

Custom MLS integration Saves You Time and Money
Though utilizing information from Multiple Listing Services (MLS) as an important part of appraising a piece of property, one frustrating fact remains – there is no universal format for how each MLS formats their data. Each service is unique in the method that they read and analyze information, and as such, it is difficult for software companies to integrate with the MLS you use. It can be cumbersome to re-type data from your report to export to your MLS. That is, unless you're a ClickFORMS customer.

With the Custom MLS Integration service, we create a "map" file that shows ClickFORMS how to communicate with your MLS service. We'll even use Live Remote training to show you, using your own computer, how to import ClickFORMS data from your MLS connection, saving you time and effort on every appraisal report.

If you would like to learn more about the Custom MLS Connection with ClickFORMS, visit http://bradfordsoftware.com/services/mlsintegration.shtml

Extended Tech Support Hours for ClickFORMS
In order to better aid appraisers who are getting used to the new 1004MC form, and to assist new customers who are transitioning to ClickFORMS, Tech Support hours for Bradford Technologies will be extended temporarily. Premium Tech Support is now available from 6 a.m. to 6 p.m. (Pacific Standard Time), Monday through Friday, to lend a hand to appraisers in need during this transition period.

ClickFORMS Tip: Form HFDV 01-2008
Landsafe is asking appraisers to use form HFDV 01-2008 for desktop appraisals. This form is the Home Focus form from Bank of America. You can search the Forms Library by typing in "Home Focus" in the Search text box.

Go Green at Work
Here at Bradford Technologies, we've reduced our office costs by taking both large steps (like installing solar panels) and small steps (like motion-activated lighting). As Earth Day approaches, here are some steps you can take to save money in your office... and help save the environment as a side effect.

• Be bright about light. Artificial lighting accounts for 44 percent of the electricity use in office buildings. Make it a habit to turn off the lights when you're leaving any room for 15 minutes or more and utilize natural light when you can. Make it a policy to buy Energy Star-rated light bulbs and fixtures, which use at least two-thirds less energy than regular lighting, and install timers or motion sensors that automatically shut off lights when they're not needed.
• Maximize computer efficiency. Computers in the business sector unnecessarily waste $1 billion worth of electricity a year. Make it a habit to turn off your computer—and the power strip it's plugged into—when you leave for the day. Otherwise, you're still burning energy even if you're not burning the midnight oil. During the day, setting your computer to go to sleep automatically during short breaks can cut energy use by 70 percent. Remember, screen savers don't save energy! Make it a policy to invest in energy-saving computers, monitors, and printers and make sure that old equipment is properly recycled. Old computers that still work, and are less than five years old, can be donated to organizations that will refurbish them and find them new homes. (You may even get a tax deduction.)
• Print smarter. The average U.S. office worker goes through 10,000 sheets of copy paper a year. Make it a habit to print on both sides or use the back side of old documents for faxes, scrap paper, or drafts. Make it a policy to buy chlorine-free paper with a higher percentage of post-consumer recycled content. Recycle toner and ink cartridges and buy remanufactured ones. According to Office Depot, each remanufactured toner cartridge "keeps approximately 2.5 pounds of metal and plastic out of landfills...and conserves about a half gallon of oil."