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Guild acquires small retail lender Legacy Mortgage

Housing Wire

Legacy, headquartered in Albuquerque, New Mexico, was founded in 2002 and purchased by its CEO Jack Thompson in 2006. The company has 39 active loan officers across its retail branches, according to Modex data. By joining Guild, Legacy loan officers can offer additional mortgage products and specialized loan programs.

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The Similarities Between 2007 and Today

Appraisal Buzz

This left the appraiser wide-open to being a target of “a series of errors” that affected the credibility of the valuation results. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Appraisers’ jobs are not to facilitate mortgage lending. We are seeing that as a profession again.

Appraisal 418
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Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. Mortgage lending is very, very cyclical.