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

Housing Wire

Hill instructed the homebuyers on how to game the system by submitting fraudulent asset, income and employment information on loan applications. It becomes a more concerning 1 in 23 if we only look at investment [property] purchases,” she added. The problem: They did not qualify for the loans.

Mortgage 395
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How to Find Comps With Few Sales

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on residential fee appraiser testifies at bias hearing, what happens to Fannie complaints, Why I love real estate appraising, unusual homes, mortgage origination stats, etc. == Concrete Chateau Artisan Rising From a Lake in Miami FL Is Available for $21.8M million.

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How to select appraisal comps

Appraisal Today

Selecting comparable properties based on price may inadvertently favor properties within a predetermined price range, rather than those genuinely similar to the subject property in terms of location, size, condition, and other relevant characteristics. waterfront), and amenities. Good analysis of factors in comp selection.

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OK to average adjusted comps on appraisals?

Appraisal Today

But that begs a question… similar how? Well, for starters, the property known as Hale Palau’ea is nearly hidden. 47-acre property is perched 16 feet above White Rocks Beach (also called Palau’ea Beach), where it has 120 feet of ocean frontage. OK to average adjusted comps on appraisal? One of the best I have read.

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Appraisal Institute Counters Flawed Appraiser Bias Narrative

Appraisal Today

She explains how pioneering research in psychology revealed that all humans have cognitive biases, but professionals like appraisers are trained to minimize bias through rigorous methodology. As Chance acknowledges, the Institute should have done more to advocate for appraisers and make the public aware of their professionalism.

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Lenders Not Using AMCs for Appraisals

Appraisal Today

Lenders Not Using AMCs for Appraisals By: McKissock June 23, 2023 Excerpts: Some appraisers seek alternate ways to find work outside of appraisal management companies (AMCs). Below are helpful tips on how to find financial institutions and banks that engage appraisers directly on fee panels. Here’s what they said. Simply ask around!

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Value of a Pool for Homes?

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on changing real estate market, interest rate forecasts, non lender appraisals, foreclosures way down from 2008, Freddie and ANSI, unusual homes, mortgage origination stats, etc. The value of a pool for Homes? That’s what we always hear. And, it’s true. It was tricky.