Appraisal Today

FEBRUARY 17, 2023

To read more click here My comment : Take a break and scroll down the list to see some great photos! == Staff Layoffs at AMCs By Dave Towne Excerpts: Appraisers, it’s not ‘just us’ who have taken the slowdown in lending “in the shorts.” My many years of scientific training, including the scientific method, make me a better appraiser.

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Appraisal Today

MARCH 31, 2023

How does an appraiser deal with the “ignorance” (a lack of education, training, or knowledge…a person who is ignorant is one who is uninformed, or is unaware of a subject or fact)? Mortgage Lending In Q4 Hit Lowest Point Since 2014 Refinance mortgage originations hit low point this century. Don’t argue with them. percent from 6.71

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Appraisal Today

FEBRUARY 24, 2023

Even the larger appraisal firms (with deep pockets) who’ve spent the last few years aggressively training and recruiting appraisers, acquiring small appraisal firms, and rolling up their competitors have rapidly changed their tone. AMCs had taken over the mortgage-lending work. Budget cuts. Retraction. percent from 6.39 percent from 6.26

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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. For non-lending work like estate work, you can use a good, protective engagement agreement. This differs from residential, where small independent appraisal companies do most of the training.

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Housing Wire

JUNE 2, 2022

It may still be a ways down the track, but the engine powering the blockchain train is already rattling the tracks. And then further on down the line, open it up to other retail investors, but that depends on the regulations in place.”. CoreVest is Redwood’s business-purpose/investment-property lending and securitization affiliate.

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Appraisal Today

APRIL 12, 2024

But if for lending, it might be rejected on review by GSE computers or humans. Senators Cramer, Tester Introduce Bipartisan Legislation to Improve Home Appraisal Process in Rural Areas Excerpts: “Across rural America, housing markets have a shortage of trained appraisers,” said Cramer. Thanks to Tom for writing this blog post.

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McKissock

JUNE 8, 2021

He was buying an 1800s Victorian house in which his parents had operated a retail business for many years. ” I’d call her “ignorant” (lacking in education, training, or knowledge…a person who is ignorant is one who is uninformed or is unaware of a subject or fact). In this case, he was also the client.

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Appraisal Today

NOVEMBER 17, 2023

While there is some overlap, being qualified to perform an appraisal requires much more training, education, and expertise, and the job goes far beyond gathering physical data. Myth #3: PDCs are not properly trained or qualified While there isn’t a license, PDCs are still required to be trained and competent to do their job.

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Appraisal Today

MAY 26, 2023

Some appraisers feel that lenders should not provide them with the purchase and sale contract. Then that contract does not serve to color, cloud, or otherwise bias a value opinion. Appraisers analyze the purchase and sale contract to amass and verify data to have detailed data to use in the analytics of future assignments.

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Appraisal Today

FEBRUARY 9, 2024

The government and those that write the rules also state the purpose of an appraisal is to determine the value of the home/property in its market setting, so an underwriter can make a lending decision. Back in the day, this protected the lender from lending more than the home/property is worth. MORTGAGE LENDING IS VERY, VERY CYCLICAL.

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Appraisal Today

DECEMBER 15, 2023

fair lending laws has been on regulators’ radar in recent years. I trained one of them. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.07 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.84

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Appraisal Today

FEBRUARY 2, 2024

The overall timeline has not changed; however, we wanted to provide the industry with more milestone details to help in development, testing and training to prepare for the new UAD and Uniform Residential Appraisal Report (URAR). The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.61

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Appraisal Today

APRIL 28, 2023

If you want to continue AMC/lender appraising and need more education and training, get it now while you’re not very busy. Mortgage lending is very cyclical and dependent on mortgage rates. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.55

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Appraisal Today

NOVEMBER 10, 2023

They are working closely with FHFA on how to handle the risk associated with that—things like accuracy, condition, default risk, fair lending, and city vs rural. There will be detailed training requirements and background checks. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 7.36

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Appraisal Today

SEPTEMBER 9, 2022

While that number may seem high to some, in the context of lending and property complexities, that is a 54% improvement in performance cited earlier in this article (10 years ago). The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94 percent from 5.80

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Appraisal Today

MAY 27, 2022

The market changing again with increasing interest rates, in the inevitable ups and downs of mortgage lending. To achieve this vision, industry participants will need to work together to resolve implementation challenges through training and investment in the infrastructure needed to operationalize new solutions. percent from 5.49

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