Lamacchia Realty

FEBRUARY 21, 2024

SELLERS, HERE'S WHAT TO DO IF A BUYER REQUESTS REPAIRS AFTER INSPECTION Selling your home and moving into a new one can be an exciting life chapter. A common issue that sellers should be prepared for is a buyer requesting repairs after the home inspection. Mortgage lenders will not pay more than they believe a house is worth.

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Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? Appraisals are required for homes financed with any type of mortgage. Getting approved for a mortgage depends largely on the outcome of an appraisal. Mortgage lenders want to make sure the property is worth the sale price.

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Real Estate Appraisal Agents Inspection 448

D Fritz Appraisals

AUGUST 12, 2019

What’s the Difference Between a Home Inspection and a Home Appraisal? If you’re in the market for a new home, the terms “home appraisal” and “home inspection” are more than likely to come up at some point as you zero in on a property you want to buy. What Is a Home Inspection? What Is a Home Appraisal?

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Inspection Appraisal Real Estate Property Appraisal 94

Housing Wire

NOVEMBER 30, 2023

The 203(k) Rehabilitation Mortgage Insurance Program helps borrowers purchase a home or refinance an existing mortgage and includes the cost of repairs or rehabilitation into one new mortgage. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375.

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Housing Wire

DECEMBER 8, 2023

Educate your clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. With a changing market, home inspections are now becoming a secondary point of negotiation. Be the leader in the transaction.

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Clients Real Estate Inspection Buyers 403

Housing Wire

FEBRUARY 21, 2023

It also holds great promise in attracting a new generation of bright, talented appraisers who may have otherwise not given the mortgage valuations industry a second look. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork. This isn’t just a theory.

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Modernization Technology Real Estate Agent Valuation 314

Appraisal Buzz

DECEMBER 20, 2021

Federal regulators require banks to prepare documentation that fully explores their response to potential market forces that could put stress on their institutions or the broader economic system. Rarely do sub-processes of mortgage loan origination have the opportunity to undergo similar stress tests. They’ve dealt with that before.

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Valuation Inspection Appraisal Lending 367

Housing Wire

AUGUST 31, 2022

Outsourcing or hiring in-house compliance experts are no longer the only options for servicers who need help handling lien releases and assignment of mortgage documents. Quality inspection after data entry can be customized to account for new employees or experts with low error rates.

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Clients Inspection Technology Contracts 308

Housing Wire

MARCH 11, 2021

According to the FHFA, the extended flexibilities include: Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings. In a statement issued on Feb.

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Lending Appraisal Inspection Property Appraisal 485

Housing Wire

MAY 6, 2024

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). We applaud HUD’s efforts in trying to change the requirements for HECMs to be more in line with the requirements of the forward mortgage industry.

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Inspection Development Mortgage Design 382

Housing Wire

JANUARY 14, 2021

Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings. 31, 2021, however, the government entity is now pushing that back to at least Feb.

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Lending Appraisal Inspection Property Appraisal 540

Housing Wire

FEBRUARY 10, 2021

Lender Sierra Pacific Mortgage (SPM) announced Wednesday it will use CoreLogic’s collateral valuation platform in order to streamline future home appraisals. Sierra Pacific Mortgage, a California-based nationwide direct lender licensed in 49 states, has been searching for ways to increase underwriter productivity since 2018.

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Appraisal Appraisal Process Inspection Valuation 384

Housing Wire

APRIL 8, 2021

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process. While a home inspection is a valuable way to get to know your new potential home, it can also be used as a negotiation tool.

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Inspection Sellers Buyers Tools 441

Housing Wire

OCTOBER 12, 2021

Purchasing a home is one of the biggest investments most people will make in their entire lives, but the complexity of securing a mortgage can be a grueling and fractured process for first-time homeowners. Digital transformation has taken every other industry by storm, and it’s time for the mortgage industry to catch up.

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Lending Technology Investing Loan Officers 317

Appraisal Buzz

APRIL 19, 2022

In an effort to streamline the loan process with reduced appraisal times, the mortgage industry is encouraging desktop appraisals, which are likely to see increased adoption, particularly with validated, accurate values made possible through Asteroom’s all-inclusive solution. About Asteroom Inc.:

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Appraisal Inspection Real Estate Agent Valuation 195

Movoto

MAY 15, 2024

Select service members, veterans, and some surviving military spouses can take advantage of a specific lending scenario known as a veteran mortgage – more commonly referred to as VA loans. In the following, we’ll explain VA loans and how they differ from other lending options, as well as walkthrough the steps to secure VA mortgages.

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Mortgage Real Estate Agent Lending Real Estate 36

Appraisal Buzz

FEBRUARY 7, 2022

Let’s take some time to reintroduce Desktop Appraisals and explore the risks that are presented when a Desktop Appraisal is requested of an appraiser as part of the mortgage application process. Prior to 2020, the most common appraisal label in the mortgage origination ecosystem was the Full Appraisal. Appraisal Labels.

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Movoto

MAY 29, 2024

Throughout this time, several inspections are performed to check everything from the physical condition of the home to the underlying financial and legal health of the property. Home inspectors will often recommend additional pest inspections, should they see anything indicative of a past or present problem.

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Real Estate Inspection Real Estate Agent Buyers 36

Housing Wire

MARCH 1, 2023

Change in uninsured losses As of late, however, the uninsured losses are being absorbed by other stakeholders in the housing finance system, including mortgage lenders, mortgage servicers, private mortgage insurers, government agencies, capital markets investors, and the government-sponsored enterprises.

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Insurance Supply Chain Design Government 352

AmeriMac

MAY 30, 2024

Traditionally, appraisals required physical inspections of the property, where appraisers would visit the site to assess its condition and gather relevant data. Desktop appraisals are a type of appraisal that relies heavily on property data collection and analysis, rather than physical inspections.

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Appraisal Process Appraisal Inspection Real Estate 36

Housing Wire

MAY 23, 2023

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. The need to physically inspect each property will be replaced with data or other inspection options in many cases. You can’t ignore it. Johnson said. I think that’s a really great step.”

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Technology Appraisal Lending Valuation 347

Movoto

APRIL 12, 2024

In addition to establishing a reasonable home buying budget – feel free to use our mortgage payment calculator for help – knowing how long before you have keys in hand will help new home buyers better plan and prepare. This involves a detailed assessment of your assets, income, and credit history by a mortgage lender.

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Inspection Real Estate Agent Realtors Sellers 36

Housing Wire

MARCH 11, 2022

Last week, Fairway Independent Mortgage Corporation announced the hiring of Tane Cabe as its new reverse business development manager with a focus on Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business. Diagnosing low H4P uptake. of all endorsements in 2021. of all endorsements in 2021. Harlan Accola.

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Business Real Estate Agent Real Estate Loan Officers 339

D Fritz Appraisals

AUGUST 11, 2022

Even with a trusted real estate professional on your side, you should always choose to get a professional inspection and appraisal of the home to give you peace of mind during the process. . Get pre-approved for a mortgage to show the current owner/seller you can afford to finance the home. How To Make A Sight Unseen Home Purchase.

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Real Estate Agent Inspection Real Estate Sellers 119

Appraisal Hub

APRIL 21, 2023

The appraisal process is one of the most important steps in mortgage and property agreements. All Relevant Reports Appraisers in Toronto will want to examine your latest real estate tax bills, home inspection reports, and other relevant reports on matters like termites, septic systems, and wells.

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Appraisal Appraisal Process Inspection Market Value 78

Lamacchia Realty

JANUARY 18, 2022

Home Inspection When you’re considering purchasing a home, you’ll need to get a home inspection done. This inspection will check things like the roof, plumbing, electrical, and structural integrity of the home. This is all a part of the process to close on a home or finalize the sale.

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Inspection Sellers Buyers Realty 72

D Fritz Appraisals

OCTOBER 11, 2022

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property. Mortgage financing and refinancing.

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Appraisal Inspection Property Taxes Easement 105

Eppraisal

JUNE 23, 2023

Choosing the Right Mortgage Option Research different types of mortgages (e.g., fixed-rate, adjustable-rate) Evaluate interest rates, terms, and repayment options Consult with your mortgage lender to find the best fit for your needs B.

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Finance Inspection Insurance Real Estate Agent 36

Eppraisal

JULY 19, 2022

Unsure if you should hire an attorney to represent you in your real estate transaction, ask your real estate agent or mortgage lender. Home Inspection Most contracts also call for an inspection period where the buyer has a certain amount of time to have professional inspections performed on the property.

Real Estate 36

Real Estate Inspection Real Estate Agent Contracts 36

Clear Capital

JULY 14, 2023

As the real estate and mortgage industries work to modernize the home valuation process, Fannie Mae and Freddie Mac continue to offer new alternatives to the traditional home appraisal. The introduction of inspection-based appraisal waivers offers an increasingly positive impact to both lenders and consumers.

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Appraisal Inspection Real Estate Agent Training 68

Will Springer Realtor

MAY 2, 2023

This person represents the best interests of the mortgage company. If the value determined by the appraiser is less than the agreed offer price, the financial institution will not approve the full amount of the mortgage. If the buyer cannot get approval for a mortgage, the deal is off and the earnest money would be returned.

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Contracts Buyers HOA Inspection 54

Housing Wire

MAY 20, 2024

which includes numerous updates to its guidance for the Home Equity Conversion Mortgage (HECM) program overseen by the Federal Housing Administration (FHA). if the borrower “has received this income for the previous two years and it is reasonably likely to continue,” so long as required documentation is provided.

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Reconsideration of Value Mortgage Inspection Insurance 378

Eppraisal

OCTOBER 23, 2023

Once the document has signatures from both parties, do the following to see the agreement through: Deposit Earnest Money Pay an earnest deposit — 3% to 5% of the selling price — to show you’re serious about the purchase. Arriving at a verbal agreement differs from being in a contract. The seller can pick a different one.

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Real Estate Agent Sellers Inspection Real Estate 69

Lamacchia Realty

FEBRUARY 2, 2023

Document Review & Preparation Both a Offer to Purchase and a Purchase and Sales agreement are binding contracts that determines what the buyers and sellers are expected to do as well as important dates that occur during the transaction. Again, this is a legal document that needs to be done right!

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Real Estate Sellers Legal Inspection 76

Lamacchia Realty

AUGUST 20, 2021

If you’re a home buyer obtaining a mortgage, you can still compete and win against cash buyers, and here’s how: Get a head start on the mortgage: Reach out to your mortgage lender and see if they can move the process along quicker. Ask your lender what information they need and provide it to them ASAP.

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Inspection Sellers Buyers Realty 74

Clear Capital

SEPTEMBER 13, 2023

As mortgage underwriters, you understand that a timely appraisal is paramount to a smooth loan approval process. Well, with the introduction of inspection-based appraisal waivers to the market, you can! Fannie Mae and Freddie Mac now offer inspection-based appraisal waivers. How do inspection-based appraisal waivers work?

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Appraisal Inspection Modernization Valuation 36

Lamacchia Realty

MAY 9, 2023

The actual down payment can vary anywhere from 3% down up to 20% or more depending on what program or type of mortgage loan the buyer chooses. This fee is paid at the time of the inspection directly to the inspector. Here we take a closer look at what you as a buyer should expect when you go through the process of buying a home.

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Insurance Inspection Buyers Realty 67