Appraisal Buzz

AUGUST 9, 2024

The “ Lending Monitor: Mortgage Origination Study ” examines the loan origination experience using a consumer survey, in-depth interviews with active home buyers, and an examination of firm communications to identify the factors that influence lender selection and the overall borrower experience today.

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Housing Wire

MAY 11, 2022

In this hot housing market, Michigan-based wholesale lender Homepoint understands the key to originating more home loans is ensuring more sellers accept offers made by its buyers. Homepoint partnered with fintech mortgage company Accept.inc , which upgrades offers from qualified buyers to an all-cash bid. While the lender had $20.7

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Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. What matters is whether or not the defects are deal-breakers to you, the buyer.

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Inspection Appraisal Appraisal Process Buyers 441

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. But what does it mean for you as the buyer? The purpose? One more option.

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Housing Wire

APRIL 6, 2021

Linda (who asked that her real name not be used) beat out a dozen other prospective buyers in a bidding war by offering $445,000 and waiving all contingencies. Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. She recently had a deal fall apart due to appraisal. Wow, since when?

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Appraisal Reconsideration of Value Real Estate Agent Sellers 540

Appraisal Buzz

OCTOBER 3, 2022

What should appraisers know before they sign the appraisal report and deliver their professional opinion of value? Many appraisers working in today’s marketplaces are about to find out how important this is. This is important information for appraisers, though it may not appear so at first. Appraisers track such data.

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Appraiserblogs

JANUARY 8, 2024

It is appraisers who are destroying the message. The seeming destruction of the appraisal profession by the federal government, GSEs and lending stakeholders is a collective action problem. Appraisers are responding to new GSE and lending dictates with reactions based on our own personal well-being. Or so it seems.

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McKissock

MARCH 28, 2023

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. What are some specific types of non-lending assignments that might be worth adding to your workload this year? Read the full survey results below.

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Lending Appraisal Property Taxes Training 99

Appraisal Hub

SEPTEMBER 23, 2024

Real estate appraisals are the safeguard you need in such situations, ensuring buyers and sellers understand a property’s actual value before making a deal. Whether buying, selling, or refinancing, a professional real estate appraisal is crucial for making informed decisions.

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Housing Wire

SEPTEMBER 23, 2021

Appraisers have experienced many challenges in the last couple of years. From juggling high volume demand for appraisals in the middle of a pandemic, appraisers had to radically change their processes. Remote inspections have the power to make homeowners and appraisers more comfortable. Introducing RemoteVal.

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Appraisal Inspection Technology Appraisal Process 388

Housing Wire

OCTOBER 12, 2021

At each stage of the buying process, there are multiple siloed transactions, from appraisals, inspections and settlements to mortgage payments and homeowners’ insurance. Digitalization in the home lending industry does not always require companies to entirely invent new technology solutions. However, it’s important.

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Lending Technology Investing Loan Officers 370

Housing Wire

JUNE 9, 2021

As the appraisal industry struggles to meet demand, Voxtur has developed a solution to streamline the process. HousingWire: What can the industry at large do to support the work of appraisers right now? HousingWire: What can the industry at large do to support the work of appraisers right now? This is misguided.

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Appraisal Property Taxes Valuation Technology 403

JMV Lending

NOVEMBER 20, 2020

Hot markets foster appraisal issues – every time. This is b/c aggressive buyers in multiple bid situations frequently offer to pay far more for a property than what closed comparable sales can support in an appraisal. If buyers have ample cash, low appraisals are often not an issue, as buyers can simply bring in cash […].

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Appraisal Hub

JULY 26, 2024

Whether buying, selling, or refinancing a property, a meticulous and professional appraisal is essential to ensure fair market value. When appraisers visit a house, they find out how much the owner wants to sell for. The appraiser inspects the property from top to bottom. Appraisal services help with this.

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Appraisal Buzz

SEPTEMBER 14, 2021

Appraisers have been accused of being “speed bumps” in the lending process. We frustrate buyers, sellers, loan officers and, sometimes, real estate agents. The post Agents, Don’t Skip the Appraisal appeared first on Appraisal Buzz. In some ways, I can understand their … Read More.

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Agents Appraisal Real Estate Agent Loan Officers 195

JMV Lending

MAY 16, 2024

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. The post Low Appraisals – 6 Options When Appraisals Come In Low appeared first on JVM Lending.

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Housing Wire

JUNE 17, 2024

It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees. In August 2023, Wells Fargo also announced a down payment grant program that offers $10,000 to eligible buyers.

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Lending Retail Appraisal Process Mortgage 468

Appraisal Buzz

SEPTEMBER 25, 2024

The Fed’s initial cut is likely to bring more buyers and sellers to market, potentially opening the inventory floodgates and momentum for price competition. Federal Reserve Chair Jerome Powell finally provided the housing industry much needed relief by slashing rates for the first time in more than four years.

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Mortgage Loan Officers Technology Contracts 393

JMV Lending

JANUARY 20, 2021

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. Below are five of the options available when an appraisal comes in under contract price. Rebut the appraisal.

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Appraisal Contracts Lending Agents 148

JMV Lending

MAY 28, 2021

Our Zillow rep told us yesterday that searches for new homes are down 25% from recent months, as buyers appear to be “fatigued” and are putting their searches on hold. Despite that fact, the market remains extraordinarily hot and we continue to see appraisals come in under contract price all too often. This should not […].

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Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). These disclosures include the annual percentage rate and payment schedules.

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Contracts Investors Sellers Lending 367

Lamacchia Realty

MARCH 11, 2024

Buyers hoping to purchase condos have been under more stringent lending regulations over the past three years, initially under temporary guidelines that were later made permanent. Buyers and buyer agents alike needed to be keenly aware of how the new regulations would impact the purchase of a condo in any building over 5 units.

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Housing Wire

OCTOBER 12, 2023

Buyers can save up to 40 basis points on any agency, government or non-qualified mortgage (non-QM) first-lien loans when working with a wholesale loan origination partner approved by The Loan Store, the Arizona-headquartered lender said. In April, the lender bought the wholesale lending business from the now-defunct Home Point Capital.

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Lending Design Government Tools 417

Appraisal Today

SEPTEMBER 27, 2024

What does it mean for appraisers? The importance of these factors cannot be overstated, and they deserve careful consideration in every waterfront property appraisal. Water Frontage and Access One of the most critical elements in appraising waterfront properties is the type and extent of water frontage.

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Property Appraisal Appraisal Training Contracts 73

Appraiserblogs

NOVEMBER 11, 2022

It is gratifying when appraisers are correct, and the AVMs burn; unless you invested in their stocks. As an appraiser since the 80s, I have yet to find a computer that can tell me if I want vanilla or chocolate ice cream. Does the buyer want more acres, or less grass to cut? Tax Values Just as Accurate as AVMs?

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Appraisal Valuation Lending Investing 106

Housing Wire

MAY 10, 2024

A prospective buyer would still need to come up with $120,000 to close the gap. If the buyer has a 20% down payment, or $80,000, they would still need an additional $40,000 to seal the deal. Assumable mortgages enable qualified buyers to take over a seller’s mortgage terms, including the existing balance and interest rate.

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Appraisal Buzz

JUNE 14, 2024

The key is to tailor the financial solutions to meet the needs of various borrowers, including first-time home buyers, those who are looking to move up, and buyers willing to purchase fixer-uppers. This represents a competitive challenge for buyers relying on financing.

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Appraisal Buzz

JULY 8, 2024

“The latest affordability data presents a clear challenge for home buyers,” says Rob Barber, CEO for ATTOM, in the report. It’s common for these trends to intensify during the spring buying season when buyer demand increases. The post ATTOM: Homeownership Became Less Affordable in Q2 appeared first on Appraisal Buzz.

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Property Taxes Buyers Insurance Lending 195

Appraisal Buzz

AUGUST 28, 2024

“Mid-Florida Mortgage has built a reputation for providing tailored lending services,” adds Michael Bremer, CEO of Calque. The Trade-In Mortgage streamlines the purchasing process, giving buyers a significant advantage in competitive markets like Florida.”

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Mortgage Clients Lending Buyers 195

Appraisal Today

OCTOBER 11, 2024

A Q&A With Its Chief Appraiser Effects of Hurricane Helene Is Anywhere Safe From Hurricanes? The threat heard from appraisers is that this is yet another move by the GSEs to eliminate them. “If If we just make the appraisers (and non-appraisers) data-gatherers, we can do the analysis in house.” 35,000 sq.ft.

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Appraisal Insurance Contracts Valuation 79

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. This product allows a homebuyer to purchase a fixer-upper and finance the purchase and renovation in one loan based on the expected appraised value of the home after improvements.

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Mortgage Renovations Appraisal Process Finance 451

DataMaster

APRIL 6, 2021

What is an home appraisal? Why Didn’t My Home Appraise Higher? Appraisals can be confusing. A friend (I’ll call him Art) recently had his home appraised. When the appraisal came back, he was shocked to see that his home appraised for less than two homes nearby that had recently sold.

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Appraisal Appraisal Process Buyers Legal 158

JMV Lending

JANUARY 15, 2021

APPRAISALS COMING IN UNDER CONTRACT PRICE B/C MARKET’S SO HOT We are seeing appraisals come in under contract price more frequently than normal again b/c the market is so hot and buyers are bidding so aggressively.

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Appraisal Agents Contracts Lending 127

Housing Wire

APRIL 8, 2021

First, the pre-approval letter tells the seller that you are serious about buying a home and that you have a commitment from a reputable lender on how much it will lend to you. When it comes to using this third negotiating tool, Bryher said appraisal gaps must be considered carefully. In an extremely competive market?

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Inspection Sellers Buyers Tools 451

Housing Wire

JULY 12, 2023

The lender said qualified buyers will receive up to $10,000 toward their downpayment/closing costs with BorrowSmart Geo-Target, or $5,000 toward their downpayment/closing costs and up to $1,000 toward home warranty and appraisal costs with the HomeReady SPCP. The programs are key to the GSEs’ equitable housing finance plans.

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Finance Law Lending Development 370

Boston Appraisal

OCTOBER 8, 2022

In recent years, it has become common for lenders to obtain hybrid appraisals. While appraisers provide an essential service through their reports, this work comes at high costs to the buyer or borrower. This cost can be measured in terms of dollars spent on an appraisal or the time required to produce a full appraisal report.

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Appraisal Inspection Appraisal Process Valuation 135

Appraisal Hub

SEPTEMBER 8, 2023

One crucial step that often goes unnoticed by many prospective homeowners is the mortgage appraisal. Let’s delve into the significance of mortgage appraisals and how professional appraisers and reputable appraisal firms can make a difference. An accurate appraisal ensures that the lender can recoup their investment.

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Appraisal Mortgage Mortgage Appraisal Market Value 78