In a hot housing market, gap between purchase price and appraiser condition ratings causes headaches
Housing Wire
AUGUST 11, 2020
According to Johnson, when markets accelerate quickly, the credit risk gap widens between the agreed-upon purchase price and what the data reflects and advises loan production teams to explore avenues to understand this delta. However, Pilgrim said the industry’s expectations are still not within the realm of these new flexibilities.
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