Housing Wire

JULY 29, 2021

If we’ve learned anything in the past year, it’s that operational flexibility and accurate servicing valuation are key to lending profitability. 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.01% from 3.11% for the week ending in July 23. Presented by: Black Knight.

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Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. What lenders should know about today’s economic climate. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.

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Eppraisal

NOVEMBER 28, 2023

However, the cost is often intimidating, especially for those who haven’t yet learned their options. Here’s what you need to qualify for a loan, plus the rundown on five financing choices. Here’s what you need to qualify for a loan, plus the rundown on five financing choices.

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PennyMac

AUGUST 2, 2022

So you have your eye on a new home, but the loan you need to finance it would have to be larger than the conforming loan limit — what are your options? A jumbo loan can be a great fit for homebuyers in a strong financial position who want to secure a large loan. What Is a Jumbo Loan?

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On Q Financial

JANUARY 6, 2022

But when you ask your lender, you find out the property value is too high for a traditional loan. The Federal Housing Finance Agency (FHFA), Federal Housing Administration (FHA), and Veterans Administration (VA) have all announced new conforming loan limits for 2022. What does that mean for you? What are Loan Limits?

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PennyMac

APRIL 29, 2022

The only problem is it has a pretty large price tag, and while reasonably within your budget, you can’t find a standard loan large enough to cover it. The good news is you have other options if a standard, conforming loan isn’t going to work for your house. One option you have is to apply for a jumbo loan.

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Appraisal Today

MARCH 15, 2024

In this guide, we’ll explore what defines a rural property, the challenges appraisers face, reasons for conducting rural appraisals, strategies for finding comparables, and tips for writing a compliant appraisal report. What if there are few rural areas near you? It is not hard to learn the valuation factors.

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Quicken Loans

NOVEMBER 18, 2021

If you don’t have a large down payment, attractive loan options include 3% down conventional loans. These loans are for most borrowers – you don’t have to be in a specific income category or region. Here’s everything you must know about these low down payment loans. How Does The Conventional 97 Loan Program Work?

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Appraisal Today

JANUARY 5, 2024

Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. Be a part of the profession blamed for the collapse of the savings and loan industry. baths, 4,000 sq.ft.,

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Housing Wire

MARCH 11, 2024

In a competitive market where most borrowers are mortgage rate shopping, credit optimization can be the difference between closing a loan or losing out to an offer from a competitor. Here why CreditXpert’s new platform — that combines the best of Wayfinder and the What-if Simulator — can help you reach more buyers and close more loans.

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Appraisal Today

FEBRUARY 23, 2024

I also have some market recap visuals to unpack what’s been happening in 2024 so far. The ideal is to compare areas with similar prices, but even if the price point is a bit different, it can be valuable to see what is happening in a different nearby neighborhood. Think about it this way. Let’s talk about this. Excerpts: 8 bedrooms, 7.5+

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Appraisal Today

SEPTEMBER 22, 2023

To read more, click here My comments: Now we know what NAR members think about it. What they were doing about inspectors had a wide range. I drove by the house and looked at what was nearby, etc. There is no way to know what the inside looks like or the foundation (many are brick). Not very positive. Very interesting.

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On Q Financial

JANUARY 7, 2022

But when you ask your lender, you find out the property value is too high for a traditional loan. The Federal Housing Finance Agency (FHFA), Federal Housing Administration (FHA), and Veterans Administration (VA) have all announced new conforming loan limits for 2022. What does that mean for you? What are Loan Limits?

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Appraisal Today

NOVEMBER 24, 2023

I watched and listened to them talk about it and learned a lot. The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. Appraisers, and surfers, have varying levels of experience, and experiences.

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Assurance Financial

APRIL 29, 2021

If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Use the home loan glossary below to get familiar with terms and definitions that might be new to you. Amortization.

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Appraisal Today

AUGUST 18, 2023

When business is slow is an excellent time to look for new apps, learn how to use your MLS and forms software, etc. The Appraisal Update Podcast 8.16.23 – MLS Cyberattack (SPECIAL REPORT) Video 18 minutes Goes through URAR form and USPAP plus many ideas on what to do. Genius Scan This app gets a lot of love from appraisers.

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Appraisal Today

JULY 21, 2023

That’s what we always hear. What are buyers willing to pay? The value of a pool for Homes? July 18, 2023 By Ryan Lundquist Excerpts: Some areas have more pools than others Real estate is about location. And, it’s true. Homes in different locations and price points tend to have different amenities, and that includes pools.

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Housing Wire

NOVEMBER 11, 2022

Below, Polinori answers questions about the housing industry: HW Media: What is your current favorite HW+ article and why? James Polinori: “ Applying lessons learned to adapt to a competitive market ” by Aaron Davis. What we are experiencing right now is absolutely not a 2008 scenario.

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Assurance Financial

JUNE 15, 2023

What Is Fannie Mae and Freddie Mac? What Is Fannie Mae and Freddie Mac? What Is Fannie Mae? Its purpose is to provide liquidity and stability to the housing market by buying mortgages from home loan lenders and securitizing them into mortgage-backed securities (MBS) that are sold to investors. What Is Freddie Mac?

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Appraisal Today

JULY 7, 2023

I learned I was biased against young Black men when I was on a criminal jury many years ago. Appraiser Countersues Black Plaintiffs Who Alleged Discrimination by Isaac Peck, Publisher WorkingRE There are now a number of lawsuits facing appraisers where the primary allegation is racial discrimination. Tate-Austin v. Connolly & Mott v.

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Appraisal Today

APRIL 14, 2023

Indemnification Clauses: What Appraisers Should Know Excerpts: When adding an appraiser to their appraisal panel, a lender or an appraisal management company (AMC) will present the appraiser a 5-15 page long “Appraisal Services Agreement” or “Appraiser Engagement Agreement” for the appraiser’s signature.

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Appraisal Today

AUGUST 4, 2023

The censorship is part of a march toward what appraiser and podcaster Phil Crawford has coined “universal basic home value” – a utopian vision among idealogues in which government technocrats dictate the supposed value of a property using algorithms and machine learning. Soon, these words, too, will need to be banned.

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Appraisal Today

AUGUST 26, 2022

I understand that Fannie Mae requires the sales comparison approach, but what if there aren’t enough good comps? It just means Fannie Mae won’t buy that loan. Excerpt: We often receive questions from appraisers regarding Fannie Mae and the cost approach. Can I use the cost approach as the primary method of valuation?”.

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Appraisal Today

MARCH 31, 2023

And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. To read what Fannie says, click here ————————– Link to Fannie SEL-2023-02: Selling Guide Updates PDF To read more, click here My comments: Lenders Are Happeeee! . Call to Action.

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Appraisal Today

AUGUST 5, 2022

————————————————————————————— Where VA loans are soaring. . Appraisal Assignment Waterfall. Lenders and appraisers can also refer to Exhibit A for more information.

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Appraisal Today

MAY 19, 2023

Chat GPT For Fannie Form Appraisal Reports By Dustin Harris Excerpts: The world of real estate appraisal is constantly evolving (much to our dismay sometimes), and as professionals in this field, it is crucial to stay ahead of the curve by embracing innovative tools and technologies. The answer is, Yes! Every piece of material used tells a story.”

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Appraisal Today

SEPTEMBER 30, 2022

Many experts advise that the state and federal standards requiring these important systems exist for a reason. As you might expect, it didn’t take long for both John and Suzy’s parents to hire a law firm and start going after all the real estate professionals involved. CO Detector vs Smoke Alarm. To read more, click here.

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Appraisal Today

JUNE 9, 2023

Reliability of data You need to consider: What is this data telling me? How reliable is that data? If you’re using county data, and you’re looking at quality ratings in there, how reliably do they rate properties? Should you even be using that data? To read more, click here My comments: The blog post has a link to Quality Ratings.

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Appraisal Today

DECEMBER 2, 2022

What about a salesperson license? NAR Urges Appraisal Foundation To Establish Equivalency Credit for Education and Experience. Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. My comments: Real estate agents and brokers are salespersons. They provide CMAs, etc.,

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Appraisal Today

FEBRUARY 24, 2023

What Level Appraiser Are You? What is the mark of an appraiser who is at the top of his or her “game”? But what if the appraisal form was completely blank with no boilerplate text? What if you could not use the URAR form at all, but still had to produce an appraisal report that could stand up in court?

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Appraisal Today

JUNE 3, 2022

Residential Appraisals and Airbnb Income? By Julie Friess, SRA, AI-RRS, MA. Don’t get caught like a deer in the headlights! State appraisal boards ARE disciplining appraisers across the country for improperly using the business income (Short term Rental – STR) from Airbnbs on the residential 1007 Fannie Mae form. Functional Obsolescence.

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AmeriMac

JULY 15, 2021

What Goes into Determining a House Appraisal? If you’re purchasing a home with something other than all cash, your lender is going to require that the house be appraised, so they can correctly assess the value and thus the risk of the loan. What Higher Appraisal Values Mean for House Buyers and Sellers.

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Quicken Loans

JANUARY 11, 2022

What is a VA loan, how does it work, and are you eligible to obtain one? That’s because a VA loan is a type of home mortgage loan that offers preferred terms to borrowers who have served and currently serve our nation. A VA loan is available to veterans and active duty service members, and offered through the U.S.

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Appraisal Today

JANUARY 27, 2023

To read more, click here My comments: Many thanks to McKissock for telling us what we need to know. The language requiring a minimum “head and shoulders” access into the attic was deleted. Also, language requiring a minimum “head and shoulders” access into the crawl space was deleted. Includes a link to the “redline” version of 4000.1

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Housing Wire

OCTOBER 6, 2020

I know this because this is what we’ve been talking about in our industry for the past decade. Purveyors of very complex financial instruments, sold to risk-averse investors under the careful oversight of government regulators, have given us a process that must conform to investor and regulatory compliance requirements.

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Appraisal Today

NOVEMBER 10, 2022

Use of unsupported or subjective terms to assess or rate, such as, but not limited to, “high,” “low,” “good,” “bad,” “fair,” “poor,” “strong,” “weak,” “rapid,” “slow,” “fast” or “average” without providing a foundation for analysis and contextual information. There’s even a cliffside elevator to the beach. A 2.04B California lottery was just won.

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Appraisal Buzz

SEPTEMBER 5, 2022

After many years of reading appraisal reports, my response is “One that leaves the reader with few unanswered questions, allows the data to tell the story, keeps appraiser interventions to a minimum and is able to present a case for what a property is worth, as well as what it is not worth.”. The Recent History of Appraisal Revisions.

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