Housing Wire

APRIL 25, 2022

In Spokane, Washington, a mortgage loan officer at a regional bank has seen five borrowers qualify for a mortgage for one amount, only to have that number slashed a few months later. In contrast, home appraisals are ordered up only when a house sells and is financed with a mortgage, or when an owner chooses to refinance.

Property Taxes 407

Property Taxes Government Appraisal Valuation 407

Appraisal Today

SEPTEMBER 15, 2023

May a representative of the lender provide an appraisal management company a list or a panel of appraisers to use for loans involving a specified mortgage broker, real estate agent, or loan officer? The property and/or borrower cannot get a conventional loan. UPDATED No. See AIR sections I.B.(9) 9) and IV.A.

Appraisal 82

Appraisal Real Estate Agent Contracts Real Estate 82

Assurance Financial

APRIL 29, 2021

Mortgage Lending Terminology . 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. Adjustable-Rate Mortgage (ARM). Assessed Value. Amortization.

Mortgage 69

Mortgage Insurance Sellers Inspection 69

Realtor

DECEMBER 15, 2016

If you’re a buyer who needs a mortgage , most lenders will require that you obtain a home appraisal. Lenders require a home appraisal before they’ll provide a loan, for the simple reason that the home serves as collateral for your mortgage. Dossman says this is the most common outcome. Appeal the appraisal.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78

Realtor

DECEMBER 15, 2016

If you’re a buyer who needs a mortgage , most lenders will require that you obtain a home appraisal. Lenders require a home appraisal before they’ll provide a loan, for the simple reason that the home serves as collateral for your mortgage. Dossman says this is the most common outcome. Appeal the appraisal.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78

Assurance Financial

DECEMBER 20, 2021

There are many factors to consider when selling a home, and you may be wondering what happens to your mortgage when you move. After all, the 2018 American Community Survey found that the median length of time homeowners stayed in their homes was 13 years, a shorter length of time than most mortgage terms.

Mortgage 74

Mortgage Sellers Buyers Finance 74

Birmingham Appraisal

FEBRUARY 8, 2023

For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes. If you were buying a home and the loan officer told you that they needed to get an appraisal this is what they were talking about.

Realtors 80

Realtors Appraisal Market Value Real Estate Agent 80

Cornerstone

APRIL 30, 2021

In a seller’s market — where the number of homebuyers outnumbers the number of houses for sale, as it does right now — buyers have to do whatever they can to grab a seller’s attention. This includes getting prequalified for a mortgage early so a buyer is prepared to act before they start hunting. It’s that easy.

Sellers 66

Sellers Buyers Inventory Loan Officers 66

Cornerstone

OCTOBER 26, 2021

As CoreLogic’s Chief Appraiser Shawn Telford explains : “Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. The more you know, the easier it is to find the right mortgage. Expect an appraisal gap if you see these market conditions.

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Sellers Buyers Appraisal Loan Officers 57

Genworth MI Blog

JULY 13, 2023

On the other hand, they’re important for buyers because they may identify physical concerns that either require more qualified inspections or repair and confirm that they are paying the fair market value. Many publications seem to offer contradicting details for market strength.

Appraisal 78

Appraisal Inspection HOA Real Estate 78

Will Springer Realtor

AUGUST 1, 2023

It can happen when a mortgage lender agrees to accept less than the amount owed against the home because there is not enough equity to sell and pay all costs of the sale. Insolvency – The lender will also want to see that the owner does not have significant liquid assets that would allow him/her to continue paying the mortgage.

Sellers 36

Sellers Buyers Real Estate Legal 36

Birmingham Appraisal

SEPTEMBER 15, 2022

What is a Mortgage Appraisal? A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. Other users might be sellers, mortgage underwriting, banks, and contractors.

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Appraisal Inspection Appraisal Process Real Estate Agent 93

Cornerstone

AUGUST 17, 2021

Census confirms; these homeowners no longer have a mortgage.* Those who do have a mortgage are still seeing their equity spike. Each time home values increase, homeowners receive a dollar-for-dollar equity gain. Refinance your mortgage. As of May 2021: There were 452,122 home loans with an average mortgage rate of 6.17

Mortgage 44

Mortgage Renovations Loan Officers Home Value 44

Town & Country Residential Appraisals

JANUARY 24, 2020

That’s a step towards mortgage insurance fraud and a lost license. Make no mistake - these individuals are trying to shift the liability for mortgage fraud from themselves to another party. If you ever experience this from a loan officer, feel free to report this behavior to the CFPB here.

Appraisal 36

Appraisal Market Value Contracts Clients 36

The People's Appraisal Blog

MARCH 28, 2019

They get everything set up on their end and ready to apply for the loan. But as the process with the lender gets going, they get a letter like this one below from the loan officer or banker: I don’t know about you, but in my opinion, this violates Dodd Frank, Appraiser Independence. Now read #3 again. My answer is NO.

Loan Officers 36

Loan Officers Law Appraisal Valuation 36

McCarthy Appraisal Blog

SEPTEMBER 4, 2018

This is important because loan officers usually have different requirements than individual homeowners. Loan officers are typically looking for an assessment of the condition of the house and a rough market value to put on the mortgage documents.

Real Estate 36

Real Estate Appraisal Valuation Loan Officers 36

Assurance Financial

APRIL 29, 2021

If you live in the house for long enough and make enough payments on the mortgage, at some point, your property will be worth more than you paid for it. Home equity is simply the difference between your home’s value and the amount you owe on the mortgage. Suppose your home’s market value is $300,000.

Mortgage 74

Mortgage Insurance Home Value Loan Officers 74

Sammco Real Estate Appraisal Group

SEPTEMBER 15, 2015

You might be a home owner, a mortgage loan officer or even an appraisal management company. This training is expensive and some appraisers skip this education to save money if they are not doing mortgage work. Tell them you are looking for current market value as of a certain date.

Appraisal 60

Appraisal Appraisal Process Loan Officers Inspection 60

AmeriMac

MARCH 15, 2024

The Appraisal Process Explained The appraisal process is a crucial step in determining the value of a property for various purposes, including mortgage lending. The Impact of AMCs on the Mortgage and Real Estate Industries Appraisal Management Companies (AMCs) have had a significant impact on the mortgage and real estate industries.

Appraisal 36

Appraisal Appraisal Process Valuation Real Estate 36

PennyMac

JUNE 28, 2022

Getting a mortgage isn’t free, and closing on a house isn’t free. After all, you’re already paying a down payment, potentially a mortgage payment, and potentially other fees. From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home. FHA Mortgage Insurance Premium.

Insurance 36

Insurance Property Taxes Sellers Inspection 36

Clear Capital

SEPTEMBER 29, 2021

And the mechanism behind it is if I have an offer that is accepted as a Ribbon-backed offer, I go to closing and if for some reason the lender is unable to finance the mortgage on time, we’ll step in, we’ll buy the home on behalf of the consumer. Sellers always prefer a cash offer over a mortgage-backed offer. Makes sense!

Sellers 69

Sellers Agents Real Estate Buyers 69