Housing Wire

DECEMBER 20, 2023

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. It’s the ultimate in legalized fraud.

Loan Officers 449

Loan Officers Clients Law Legal 449

Appraisal Today

JANUARY 5, 2024

I suppose it is because most appraisals are done (now) for residential lending purposes. Get licensed or certified (24%) Grow my business (23%) “As the lending side of the commercial appraisal business has declined, we are actively networking to increase our private party work for CPAs, lawyers, and estate planning professionals.”

Appraisal 74

Appraisal Contracts Legal Business 74

Appraisal Today

NOVEMBER 4, 2022

They really appreciate it, and it ensures you can complete assignments on time as you had planned (no one likes waiting for a legal description only to have it show up on your day of 4 inspections!). Mortgage Lending You decide. To read more, including the full legal document and appraiser comments, click here.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Appraisal Today

NOVEMBER 24, 2023

Obviously, you need legal counsel, but you may also need USPAP counsel as well. So, your first step is to get proper counsel, who can then give you proper advice… A state’s appraisal board carries the sword and shield of legal counsel. Quite different than others in the lending business who just want to make as much money as they can.

Appraisal 74

Appraisal Mortgage Business Contracts 74

Appraisal Today

DECEMBER 8, 2023

The first question to talk about is this: “Does the real estate appraiser have any ethical, moral, or legal responsibility to protect the consumer/mortgagor2, 3, 4 when appraising a property for a mortgagee/client?”… ”… Question 2: does the lending industry owe the appraiser a living? percent from 7.37

Appraisal 66

Appraisal Real Estate Contracts Design 66

Appraisal Today

MAY 10, 2024

There is administrative time involved, as well as legal factors. In more recent downturns, such as during the 2008 recession, many foreclosures were due to bad lending. First-time homebuyers account for roughly half of purchase loans, and the government lending programs are an important source of financing for these homebuyers.

Reconsideration of Value 69

Reconsideration of Value Appraisal Real Estate Insurance 69

Appraisal Today

MARCH 31, 2023

The AMC insists that as long as I disclose in the addendum that the zoning is currently ‘illegal,’ then I can mark on the first page as ‘Legal.’” Mortgage Lending In Q4 Hit Lowest Point Since 2014 Refinance mortgage originations hit low point this century. The average contract interest rate for 5/1 ARMs increased to 5.75

Appraisal 52

Appraisal Contracts Inspection Clients 52

Appraisal Today

APRIL 14, 2023

If our business revolves around mortgage lending, we are used to dealing with clients who have a certain level of sophistication. Many of us have learned to truncate our verbiage because our lending clients do not want to read volumes. We are used to addressing our reports in a manner that the lending client expects.

Appraisal 52

Appraisal Bracketing Contracts Valuation 52

Housing Wire

MARCH 22, 2021

With that announcement came a modification to the UWM-broker contract, making note of significant financial penalties for violating this new policy. I discerned, frankly, that these companies all had good legal counsel and would address their reply to this very unusual policy proclamation in their own way. I was astonished, frankly.

Business 538

Business Retail Mortgage Lending 538

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. Looking again at data from MBA’s Quarterly Performance Report, loans closed per production employee [1] per month (in the retail and consumer direct channels combined) ranged from 1.3 in the three years prior to the pandemic.

Lending 382

Lending Mortgage Real Estate Loan Officers 382

The Robert Weiler Company

OCTOBER 21, 2022

The information that arises helps enlighten those who own, manage, sell, lend money, or invest in commercial real estate property. Rent a section to retail establishments. Based on the size of your commercial property and budget, you may consider allocating an area of your property to retail establishments.

Real Estate 60

Real Estate Appraisal Property Appraisal Valuation 60

Appraisal Today

FEBRUARY 16, 2024

Many downtown mixed-use buildings (retail and apartments) are in my city. Never use a lending form (such as a 1004) for estate work. The date of value can be a legal issue and the appraiser should not be the one accepting responsibility for whether the date of value is correct for whatever the use is (such as an estate tax return).

Appraisal 79

Appraisal Contracts Training Architecture 79

Appraisal Today

JULY 29, 2022

This is actually about fewer buyers getting into contract. Excerpt: ASC just sent a letter to state appraiser regulatory officials pointing out that the USPAP update course is factually inaccurate and puts appraisers in legal jeopardy if they follow it. Some got teller jobs in bank retail locations. What is causing this change?

Real Estate Agent 52

Real Estate Agent Real Estate Appraisal Agents 52

Appraisal Today

APRIL 1, 2023

Never use a lending form (such as a 1004) for estate work. The date of value can be a legal issue, and the appraiser should not be the one accepting responsibility for whether the date of value is correct for whatever the use is (such as an estate tax return). The average contract interest rate for 5/1 ARMs decreased to 5.58

Clients 52

Clients Appraisal Contracts Business 52

Appraisal Today

DECEMBER 16, 2022

Joe Minnich, a condo risk consultant, spoke on how loans secured by an individual unit in a condominium project have greater risk than found in typical SFR lending. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.42 To read more, click here.

Modernization 52

Modernization Appraisal Contracts Real Estate 52

Will Springer Realtor

APRIL 10, 2024

However, this poses its own risks, as listing agents are legally obligated to prioritize their contractual relationship with the seller. A federal appeals court, in a separate legal case, on April 5 granted the DoJ the right to reopen an investigation into NAR policies even after the government ended the probe in 2020.)

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Appraisal Today

SEPTEMBER 9, 2022

The date of value can be a legal issue and the appraiser should not be the one accepting responsibility for whether the date of value is correct for whatever the use is (such as an estate tax return). The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94

Reconsideration of Value 52

Reconsideration of Value Appraisal Clients Contracts 52