Housing Wire
MARCH 26, 2024
California-based loanDepot will pay an undisclosed amount and commit to improving its mortgage appraisal practices. The settlement requires loanDepot to implement enhancements to its mortgage appraisal policies and procedures within 120 days. But the company hasn’t admitted any fault.
Annarbor Appraisal
SEPTEMBER 6, 2020
The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. Even though the lender is the client, the borrower is by regulation, required to be given a copy of the appraisal report.
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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. Who is the Appraisal for? This is called equity.
McKissock
DECEMBER 28, 2021
Traut notes that the Federal Housing Finance Agency (FHFA) announced in late October 2021 at the Mortgage Banker Association’s annual conference that banks and mortgage lenders will be able to use desktop appraisals in place of traditional appraisals for qualifying Fannie Mae or Freddie Mac backed mortgages.
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