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Risk of mortgage fraud is on the rise in the current market

Housing Wire

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. The problem: They did not qualify for the loans. Hill’s scheme, also enabled by a group of co-conspirators, caught up with him, in part because many of the loans started going south.

Mortgage 382
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How to Find Comps With Few Sales

Appraisal Today

In short, it’s not enough today to go back 90-180 days because there just aren’t enough data points in so many cases… WATCH THE MEDIAN TREND The median price for the region doesn’t translate rigidly to neighborhoods, so be careful about saying stuff like, “The median is up 3% this year, so neighborhood prices are up 3%.” baths, 12,770 sq.ft.,

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The End of Lender Appraisals?

Appraisal Today

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting.

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Quality Adjustments for Appraisers

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on adapting to changes in appraisal, appraisal volume, unusual homes, mortgage origination stats, etc. == Contemporary Home in the Hamptons (NY) for $27.5M The sport has been mentioned nearly 900 times in real estate listings through the years.

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NAR: Appraisal License Equivalency Credit for RE Agents?

Appraisal Today

Persons who started in sales but were not very good sometimes went into appraising. I know some successful agents who were trained as appraisers and appraised for awhile. Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. Appraisers are real estate reporters.

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Appraiser Scam – Be Careful!

Appraisal Today

Last week, I received a text from “Master Chief Robert Roy” requesting an appraisal for a cash purchase. NOTE: Please scroll down to read the other topics in this long blog post on all cash sales, bad bank, FHFA/Fannie, speaking at real estate agent meetings, unusual homes, mortgage origination stats, etc. ==.

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Appraisals and Water Frontage

Appraisal Today

In a large townhouse-style condominium complex, there were only eight units that had water views. My research discovered that the open field had just been purchased by a group that was building a four-level high-and-dry boat storage building. The view was of a section of the Intracoastal Waterway. Water rights play a major role.