Clear Capital

FEBRUARY 23, 2024

Shared equity programs are growing across the country, and lenders and appraisers should understand the nuances of these programs to ensure accurate valuations. The contract will also likely reference a second document, either a deed restriction or a ground lease. What is shared equity?

Valuation 36

Valuation Market Value Contracts Appraisal 36

Appraisal Buzz

DECEMBER 27, 2021

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. This change will be effective starting in 2022 and should reduce inefficiencies in the mortgage and homebuying process. Of course, desktop appraisals could backfire if fraudsters start swindling mortgage lenders.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Appraiserblogs

APRIL 10, 2023

The article titled “FHFA Data Fueling Looks into Appraisal Bias” was in the Inside Mortgage Finance Publications e-newsletter on 4/06/23. According to aggregate statistics from the Uniform Appraisal Dataset released by the FHFA, roughly 57% of appraisals were above the contract price in 2021. Well, that's according to the headline.

Appraisal 116

Appraisal Contracts Valuation Finance 116

Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

Appraisal 413

Appraisal Law Valuation Home Value 413

Appraisal Buzz

APRIL 15, 2024

UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. It all starts with the standard appraisal forms used in the mortgage process. Really, appraisers have always thought this way.

Appraisal 397

Appraisal Design Lending Technology 397

Realtor

SEPTEMBER 13, 2023

There might be some negotiating back and forth until all parties come to a compromise with a new valuation. Order a second appraisal “Most often, if the appraised value is not as high as the agreed (contract) price, the seller’s agent will ask to see the comps and get a second or third appraisal,” Saatchi says.

Appraisal 193

Appraisal Sellers Real Estate Agent Valuation 193

Housing Wire

MAY 13, 2021

As anyone involved in the residential real-estate market knows, bidding wars – and contract prices exceeding the list price – are the norm today in many markets around the nation. Sheridan’s listing appraised at the contract price, and the deal went through without a hitch. over the list price.

Housing Market 520

Housing Market Appraisal Marketing Contracts 520

Housing Wire

JULY 6, 2022

PFSI), which ranks as one of the top five mortgage lenders nationally, are seeking to raise more than $700 million in the debt markets through the sale of notes secured by mortgage servicing rights. The notes are backed by Ginnie Mae mortgage-servicing rights, according to a presale report by Kroll Bond Rating Agency (KBRA).

Investing 342

Investing Finance Mortgage Market Value 342

Housing Wire

JUNE 30, 2021

PCV Murcor is one of the nation’s leading valuation management companies. The company provides appraisal management services to lenders, investment firms, community banks, servicers and anyone who needs a real estate valuation. Not to mention, some appraisers have contracted with PCV Murcor for over 20 years.

Clients 384

Clients Valuation Real Estate Appraisal 384

Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% How the mortgage industry is working together to make housing more affordable. Pending home sales looks specifically at contracts that have been signed but where the transaction has not closed on sales of already existing inventory.

Realtors 534

Realtors Inventory Contracts Development 534

Appraisal Buzz

JUNE 7, 2021

Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Josh : I am a compliance and valuation consultant based in Colorado. Can’t make the time? Register to receive the full recording in your inbox as soon as it’s over!

Training 366

Training Reconsideration of Value Valuation Clients 366

Housing Wire

APRIL 3, 2023

For independent mortgage banks [IMBs], the uncertainty of the direction the banking calamity will take and its impact on the housing-finance market remains an open question. The flight to safety sparked by the recent bank failures has contributed to a rate rally that is a boost to mortgage lenders, however. No, it’s not.”

Lending 336

Lending Mortgage Business Valuation 336

Will Springer Realtor

OCTOBER 19, 2021

Buyer is financing the purchase through a mortgage lender and the underwriter wishes to confirm the value of the home before issuing the loan. (No No lender will approve a mortgage on a home that is valued less than the agreed sales price.). housing market is 7% of all mutually accepted contracts.

Contracts 41

Contracts Appraisal Sellers Real Estate Agent 41

Birmingham Appraisal

JUNE 11, 2024

Smooth Transactions: An accurate appraisal helps ensure that when your home goes under contract, its value won’t become a stumbling block in the sales transaction. An appraisal can provide evidence to support a lower valuation and reduce your tax burden. Retrospective Appraisals: Accurate Historical Valuations What is it?

Appraisal 77

Appraisal Property Taxes Valuation Real Estate 77

Housing Wire

DECEMBER 2, 2020

“So, while we continue to take advantage of the favorable rate environment within our forward-mortgage segment, we see continued growth in our other lending segments and our non-lending segments.” billion valuation. Reverse mortgage originations declined 19% from the second quarter to $626 million.

Finance 220

Finance Lending Retail Business 220

Housing Wire

AUGUST 7, 2023

Lenders began to define the “trust model” of standards, contracts and shared services necessary to achieve cross industry interoperability. MERS provided a trusted “golden record” of the owner of the mortgage loan asset, Simplifile reaches the county recording end-points, IDC integrated $5.2B

Real Estate 335

Real Estate Supply Chain Architecture Brokerage 335

Valuation Review

DECEMBER 13, 2021

Valuation Review sat down with CBC Mortgage Agency Diversity, Equity & Inclusion Officer Tai Christensen to discuss a variety of aspects surrounding appraisal bias/disparity. Christensen also gave insight as to why minority applicants are likely to receive an appraisal value lower than the contract price.

Valuation Review 78

Valuation Review Appraisal Valuation Contracts 78

Birmingham Appraisal

AUGUST 23, 2023

Understanding the Roles: Agents and Appraisers: Real estate agents bring their expertise in marketing and negotiations, while appraisers provide impartial and accurate property valuations. Navigating Complex Properties: In cases of unique or complex properties, agents and appraisers collaborate to ensure accurate valuations.

Agents 83

Agents Appraisal Valuation Appraisal Process 83

Appraisal Buzz

AUGUST 1, 2022

When reading contracts, words will always have their ordinary meaning unless defined otherwise. a rule in statute or contract interpretation: when the language is unambiguous and clear on its face the meaning of the statute or contract must be determined from the language of the statute or contract and not from extrinsic evidence [i].

Valuation 360

Valuation Contracts Appraisal Legal 360

Annarbor Appraisal

SEPTEMBER 6, 2020

Challenging the results of the appraisal for mortgage financing. The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. When a sale is involved, the valuation may be lower than contracted price. Sometimes errors occur since humans are human.

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? CE course: Avoiding Mortgage Fraud. Sign up now.

Appraisal 103

Appraisal Contracts Market Value Clients 103

Housing Wire

JUNE 11, 2021

An appraisal is a valuation of a property by a third party. If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned. Should the appraisal come in lower than the contract price, the closing process may be impacted. The buyer typically covers the cost of the appraisal.

Inspection 431

Inspection Appraisal Appraisal Process Buyers 431

Housing Wire

JULY 12, 2022

Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. Mortgages for manufactured homes, investment properties, duplexes and fourplexes are not eligible. The seller accepts it; they go into contract. The mortgage industry, per the latest jobs report from the U.S.

Appraisal 409

Appraisal Inspection Real Estate Agent Training 409

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. This left the appraiser wide-open to being a target of “a series of errors” that affected the credibility of the valuation results.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

DECEMBER 20, 2021

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. mortgage for 12 months, and the county where he lives paid three months of his mortgage bill as part of an assistance program. He is afraid of losing his home.

Mortgage 335

Mortgage Government Contracts Insurance 335

Housing Wire

SEPTEMBER 7, 2023

But if you’re an originator, that simply means that your target group is now smaller,” said Brian Hale, CEO of Mortgage Advisory Partners. “If So, they’ll reach out and they’ll find the companies that are publicly known as consumer-direct lenders,” said Mike Roberts, the co-founder of City Creek Mortgage.

Buyers 385

Buyers Agents Loan Officers Real Estate 385

Appraisal Today

JUNE 23, 2023

NOTE: Please scroll down to read the other topics in this long blog post on AVMs and AI, good appraisal book, Real estate market, Fannie, non-lender appraisals, unusual homes, mortgage origination stats, etc. A home valued too high can lock a homeowner into an unaffordable mortgage and increase the risk of foreclosure.

Appraisal 89

Appraisal Real Estate Valuation Contracts 89

Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. Lanham, 20/20 Valuations, and loanDepot.com, U.S. District Court, Maryland.

Appraisal 79

Appraisal Contracts Business Construction 79

Housing Wire

MARCH 3, 2022

billion valuation in 2019, is a stale subject , that’s a shame because now anyone can become a Compass expert. Meanwhile, Compass is fending off with a stick trade secret lawsuits from brokerages, and even breach of contract cases from Compass’s own agents. Mortgage joint venture. Now, you don’t really hear about them.”.

Brokerage 341

Brokerage Agents Real Estate Law 341

Appraisal Today

APRIL 19, 2024

For too long, appraisers have faced sweeping claims that their valuations are biased against certain groups, despite appraisers’ ethical standards, rigorous training, and lack of financial stake in transactions. There are 12 principal forms used for a mortgage origination appraisal. Mortgage applications increased 3.3

Appraisal 70

Appraisal Valuation Contracts Design 70

Housing Wire

APRIL 6, 2021

How hybrid title and valuations help increase lending efficiency. For example, one client had a home under contract for $983,000 and the list/appraised value was just $900,000, the LO said. She recently had a deal fall apart due to appraisal. Streamline by combining services. Presented by: Altisource. I’ve seen a house listed at $1.7

Appraisal 540

Appraisal Reconsideration of Value Real Estate Agent Sellers 540

Appraisal Today

APRIL 26, 2024

What should appraisers look for in a sales contract? NOTE: Please scroll down to read the other topics in this long blog post on agent concessions, History of appraisal bias back to 1930s, “one mile” rule and bias, unusual homes, mortgage origination stats, etc. April 24, 2024) — Mortgage applications decreased 2.7

Appraisal 79

Appraisal Real Estate Real Estate Agent Contracts 79

DW Slater Company

APRIL 27, 2022

With mortgage rates now higher than they have been in a decade, are there any signs of a cooling? Many of those went under contract in February so there is a lag in market impacts. The rise of mortgage rates will decrease the number of market participants, which will lessen the demand in turn balance out the market. – RAC.

Marketing 163

Marketing Valuation Review Housing Market Appraisal 163

Appraisal Today

MARCH 15, 2024

Unlike the standardized expectations of urban and suburban properties, rural properties often present unique characteristics that require a nuanced approach to valuation. It is not hard to learn the valuation factors. Kiedrowski The most recent statistics show Value Acceptance accounts for up to 40% of all mortgage approvals.

Appraisal 72

Appraisal Inspection Modernization Business 72

Cleveland Appraisal Blog

NOVEMBER 14, 2022

To ensure that all parties are in agreement, you should compose contracts for all contractors and clients you do business with. You might write and revise these contracts in Word, but once they’re done, you should use a Word-to-PDF converter. It’s easy to get overwhelmed by the scope of a development project. I hope you enjoy it!

Real Estate 303

Real Estate Development Appraisal Contracts 303

Appraisal Today

AUGUST 5, 2022

Excerpts from the Summary: On August 1, 2022, the Veterans Affairs released Circular 26-22-13 announcing new procedures for alternative valuation methods, effective immediately. My comments : The big push to cut down on appraisal turn times because of the appraisal shortage is Very Old News since mortgage volume has plummeted.

Appraisal 59

Appraisal Valuation Contracts Modernization 59

Appraisal Today

MAY 10, 2024

New FHA ROV Policy By Dave Towne, May 3, 2024 Excerpts: Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The mortgage loan officer handling the loan?

Reconsideration of Value 76

Reconsideration of Value Appraisal Real Estate Insurance 76