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Pending legislation would end home inspection waivers in Massachusetts

Housing Wire

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

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The Law of Averages and You

The Appraiser Coach

You may be more familiar with this statement as the law of averages. Averages rule the universe. Let me give you an example as a. Read More

Law 195
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FNMA Property Data Collectors Program Violates WV Law

Appraiserblogs

The Fannie Mae Property Data Collectors program seems to have run afoul of West Virginia law. The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection.

Law 146
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Owning a condo in Florida is becoming less attractive: Redfin

Housing Wire

In May 2022, the Florida Legislature introduced a new condominium safety law, which mandates more rigorous inspections and stronger financial reserves for HOAs. Before the new law was enforced, many condo associations were investing their reserves in government-insured instruments, sacrificing their liquidity to generate a return.

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Appraisal Inspection Vs. Home Inspection: Your Role as an Appraiser

McKissock

Appraisers often balk at assignments that require a more detailed inspection of the subject property (e.g., ” Do you believe you are acting as a home inspector when you complete a property inspection as part of an FHA assignment? Appraisers perform similar inspections, to one degree or another, in most appraisal assignments.

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In its war on ‘junk fees,’ CFPB targets mortgage servicing

Housing Wire

Examinations conducted by the bureau found mortgage servicers levied charges it deems “illegal,” including prohibited property inspection fees, the issuance of “deceptive” notices to borrowers, and violations of loss-mitigation rules.

Mortgage 450
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CFPB outlines issues with illegal ‘junk fees’ by mortgage servicers

Housing Wire

These include excessive late fees and fees for unnecessary property inspections. Mortgage servicers charged the top late fee amount allowed by relevant state laws, even when homeowners’ mortgage contracts capped late fee amounts below state maximums,” the CFPB said.

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