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Agencies aim to standardize ‘first-generation homebuyer mortgage’ definition

Housing Wire

But if a lender chooses to deliver a loan as a first-generation homebuyer mortgage, then each borrower involved in the loan will need to sign a new form, 1109, which confirms their eligibility under the new definition’s criteria, the bulletin stated.

Mortgage 395
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Is the Definition of Market Value Outdated? Part III

George Dell

Editor’s Note: This is Part 3 of Bruce Hahn’s series on Is the Definition of Market Value Outdated? In Part One and Part Two we asked why the current definition of market value has been around without change for so long? Part III appeared first on George Dell, SRA, MAI, ASA, CRE.

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Is the Definition of Market Value Outdated?

George Dell

Editor’s Note: Is the Definition of Market Value Outdated? Why has the current definition of market value been around without change for so long? The post Is the Definition of Market Value Outdated? is a Guest Post from Bruce Hahn, SRA, MAI, CRE, CCIM. Many decades in fact!

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Is the Definition of Market Value Outdated? Part II

George Dell

In Part One we asked why the current definition of market value has been around without change for so long? We focused on item 4 in the current definition of market value which says: “payment is made in terms of cash in U.

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Mortgage industry provides commentary on CFPB’s proposed changes to QM loan definition

Housing Wire

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021.

Mortgage 332
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What Is an Appraisal? The Appraiser’s Definition

Appraisal Buzz

The Appraiser’s Definition appeared first on Appraisal Buzz. The appraisal is the process that you, the appraiser, undertake and complete and then report its results to the client. Most of the mortgage industry, financial industry, and public at large do not understand the difference. The post What Is an Appraisal?

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Removing the Definition of Personal Inspection

Appraiserblogs

Why is the ASB proposing to remove the definition of Personal Inspection? Related Posts: USPAP Definitions of 'His' and 'Her' The USPAP Exposure Draft Process Continues To Step Outside Their Purpose With Her / Him as the new ‘Misleading’ Debacle…. The post Removing the Definition of Personal Inspection appeared on Appraisers Blogs.