Appraisal Today

JUNE 16, 2023

Freddie Mac Announcement: “Loan Collateral Advisor: Starting June 29 New Messages Alert Users to Certain Unacceptable Appraisal Practices,” April 28, 2023) To read, click here So, if we have the technology and tools to present our conclusions in clearer, fact-based ways, let’s get ahead of the program and make the changes proactively.

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Appraisal Contracts Design Mortgage 74

Appraisal Today

OCTOBER 20, 2023

My subject was a mountain cabin, in reasonably close proximity to a National Park. The demand letter cited an accounting error during the origination of the loan (not an appraisal issue) and the appraisal as the reason for the buy back. I have attached the Fannie Mae comments and my responses below. This approximately 900sf, 1.5

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Appraisal Today

MARCH 15, 2024

Whether you’re a seasoned appraiser or new to the field, having a better understanding of rural properties is essential for providing credible appraisals. There are equestrian facilities within 5 miles from my house in Oakland hills and in farther out Bay Area cities with larger lots. Well written. I hate this time change. By Dallas T.

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Appraisal Inspection Modernization Business 69

Housing Wire

OCTOBER 31, 2023

HousingWire: According to ICE Mortgage Technology’s 2023 Borrower Insights Survey, fewer than one in 10 borrowers want a fully digital experience (9%) despite many appreciating the convenience of digital processes and services. As a borrower today, I may have to interact with my Realtor in one place and my lender in another.

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Technology Tools Loan Officers Development 394

Housing Wire

MAY 8, 2023

My wife found a home with motivated owners due to a divorce. My father had been diagnosed with stage four liver failure at that time, and we were aggressively looking for a home so he could move in with my family. Everyone was in for a new experience, and here are the things we learned almost immediately.

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Mortgage Marketing Realtors Sellers 394

Housing Wire

JANUARY 29, 2024

Our industry is now facing two new threats that are anything but normal. The first is a “perfect storm” that is brewing with escrow accounts and the second is the proliferation of cyber attacks on both servicers and major tech providers. Let’s start with what’s coming on the escrow front.

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Housing Wire

FEBRUARY 26, 2024

Probably about 20-25% of my business has been that product.” A tax and insurance escrow account is used for budgeting and administration, similarly to traditional mortgages. My point is that I’m not trying to reinvent the wheel here. So that just shows how much education is needed. Because of that, a limit of $1.1

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Appraisal Today

OCTOBER 27, 2023

To read more, click here My comments: We have all encountered strange homes. I worked for an assessor’s office for 5 years in my first appraisal job. To read more, click here My comments: Very interesting! My small city has online articles about all the haunted homes and other buildings, plus a World War II aircraft carrier.

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Appraisal Today

JANUARY 19, 2024

According to The Decision Lab, anchoring bias is nothing more than a “…cognitive bias that causes us to rely too heavily on the first piece of information we are given about a topic.” To read more, C lick Here My comments: When I first started reading this article, it seemed a bit technical. My comments: Rates are going up and down.

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Appraisal Today

MAY 19, 2023

For my square footage adjustment, I used a combination of paired-sales and sensitivity analysis to determine $65 a square foot was appropriate, but I did not adjust for differences between the subject and comparables if the difference was less than 100 square feet. To read more, click here My comments: Thanks to Dustin for writing this!

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Assurance Financial

APRIL 18, 2022

One of the first things you learn when you’re in the market for a new home is that no house is perfect. Remodeling your home can give it a new lease on life and make it look more modern. Then, when you apply for the mortgage, you borrow enough to cover the home’s purchase price plus the cost of the renovation.

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Renovations Construction Home Improvement Mortgage 74

Quicken Loans

APRIL 30, 2021

My take on the statement is in bold. It’s a new world when businesses and the Federal Reserve are tracking the pace of vaccinations as much as they are order growth, inflation and balance sheets. However, the Fed sees good news in that the pace of inoculations is picking up and policy seems to be helping an economic recovery.

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Quicken Loans

JUNE 23, 2021

Read on to get the information you need so that you never have to think about the mechanics of your mortgage payments again. The 5 Most Common Mistakes Borrowers Make. There are a few possibilities – prepaying before vacation, paying down your principal or adding money to your escrow account. Mortgage Payment Tips.

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Mortgage Property Taxes Insurance Technology 43

Quicken Loans

JANUARY 27, 2022

My analysis is below in bold. Risks to the economic outlook remain, including from new variants of the virus. The federal funds rate is the rate at which banks borrow money from each other overnight. Federal Reserve Chair Jerome Powell said that the Fed is leaning toward raising the federal funds rate at its March meeting.

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Buyers Development Mortgage Marketing 58

Housing Wire

AUGUST 27, 2021

I also was quoted in the article stating, “This is a relatively new world of automated underwriting engines that by intent may not discriminate but by effect likely do.” HMDA data shows outcomes across a variety of variables, including race, but does not show FICO information. Presented by: iEmergent. Risk-based pricing.

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Quicken Loans

MARCH 18, 2022

My analysis of the press release itself is in bold below. Of course, prices are going up all over the place, but the energy reference is new. As money gets more expensive for banks to borrow, they hold onto more money. As rates start to rise, you could start earning more money on your savings account. Lock in your rate !

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Buyers Mortgage Marketing Government 43

PennyMac

JANUARY 23, 2023

Some assets are protected by state laws from liquidation, such as retirement accounts, portions of your home equity, and your car. Many lenders have programs to help borrowers make payments or reconsider their current loan agreements. What happens to my credit score? What happens to my loans after bankruptcy?

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Legal Law Finance Mortgage 36

Quicken Loans

NOVEMBER 5, 2021

My analysis of the Committee’s most recent announcement is bolded below. _. The fact that COVID-19 is playing such a role in these policy decisions isn’t new. What is new is that this is the second mention of either “supply constraints” or “supply and demand.” Essentially, nothing new is good news.

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Mortgage Tools Business Marketing 80

Quicken Loans

DECEMBER 16, 2021

If you’re in the market for a mortgage, this matters because the federal funds rate is the rate at which banks borrow from each other overnight. My analysis is in bold. Risks to the economic outlook remain, including from new variants of the virus. Of course, all of this is dependent on the way things develop with the economy.

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Quicken Loans

JUNE 10, 2021

You may be wondering, “Is my credit score high enough to qualify for a loan? For more in-depth information, read about our Verified Approval process here. In summary, most lenders require information surrounding your debts and assets, credit history and proof of employment and income. How long does it take? Where do I start?”.

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Mortgage Real Estate Agent Sellers Appraisal 68

Housing Wire

APRIL 22, 2022

The lenders originating in the non-QM space make use of alternative-income documentation because borrowers cannot rely on conventional payroll records or otherwise fall outside agency credit guidelines. That’s my fear,” Lind said. We are now in a new normal. This just might be the new market. RATE VOLATILITY.

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Lending Mortgage Investors Marketing 388

PennyMac

APRIL 5, 2022

Shopping for a new home can be an incredibly exciting experience. It proves that your finances, employment, and other pertinent information have been evaluated and that you’ve been qualified for a loan up to a certain amount. What it does do is give you and any prospective seller an estimate of your borrowing abilities.

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Appraisal Today

DECEMBER 22, 2023

How to Account for a Superadequacy By: McKissock Excerpts: What is superadequacy? Example #1: Superadequate custom fireplace Example #2: Superadequate 12-car garage To read more, Click Here My comments: Although the blog post references luxury homes, this can occur anywhere. Per The Dictionary of Real Estate Appraisal, 6th Ed.,

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Quicken Loans

JUNE 17, 2021

Transitory” is the new buzzword of the year among economic analysts. My translation of Fed-ese is in bold. The Fed says that conditions are such that it’s relatively easier to borrow money and get credit right now for both households and businesses. Investment has the ability to kickstart the economy.

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Development Business Investing Mortgage 39

Assurance Financial

JUNE 15, 2023

housing market, and their actions have had a significant impact on the availability and cost of home loans for American borrowers. How Do I Know if My Mortgage Is Fannie Mae or Freddie Mac? This is the company that collects your mortgage payments and handles your account. housing market.

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Government Housing Market Mortgage Investors 36

AmeriMac

JANUARY 30, 2024

A reverse mortgage appraisal is an evaluation of a property’s value to determine how much money can be borrowed through a reverse mortgage. It takes into account factors like the condition, size, and location of the property. The cost of this appraisal is typically paid by the borrower.

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Appraisal Process Mortgage Appraisal Appraisal Mortgage 36

Houston Properties

JANUARY 13, 2021

How Is My Neighborhood Doing? However, average American private wages, salaries, and average hourly earnings are back at new highs. Said another way, American households have $1 trillion more in checking accounts than they did before COVID-19. For comparison, they held about $800 billion in checking accounts a year ago.

Housing Market 68

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Appraisal Today

JANUARY 12, 2024

To read more, Click Here My comments: Check out the very good graphs. When I started my business in 1986, several very experienced local appraisers said don’t make time adjustments for lender appraisals. I always made them and never had any complaints from my lender clients. My market is very volatile. Worth reading. .”

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Appraisal Today

JANUARY 26, 2024

New USPAP Q&As January 16, 2024, the Appraisal Standards Board released new Questions and Answers covering important topics in the profession today including: Demographics Does demographic information relating to race (such as Census data) constitute “information relating to” a protected characteristic?

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Contracts Appraisal Mortgage Inspection 84

Appraisal Today

OCTOBER 13, 2023

To read more, click here My comments: Hybrid Appraisals are coming fast for lender appraisals, when any “human” appraisals are done. For as long as I have been appraising, lenders had special lists for the tough ones, or for a valuable bank client that borrows money from the bank and has large deposits. can add up. I am not married.

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Assurance Financial

NOVEMBER 28, 2023

We’re here to answer your questions so you can approach your new mortgage with confidence. What Happens If I Make a Large Principal Payment on My Mortgage? Can I Change My Mortgage Payment Amounts? You increase your debt-to-income ratio, making yourself a more attractive borrower if you decide to take out new loans.

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Mortgage Property Taxes Insurance HOA 69

Appraisal Today

OCTOBER 6, 2023

We also have a new product launching this year. To read the full letter, click here My comments: USPAP 2024 is effective January 1, 2024. I assume a new class will be required every two years in the future. It was my favorite class as we could focus on issues in our current market. It’s insane, actually.

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Appraisal Contracts Real Estate Mortgage 77

Will Springer Realtor

FEBRUARY 15, 2022

If you are a regular reader of my blog, you may have seen one of my first posts – back in 2018 – urging buyers to get their household finances in order. Based on your income and debt, figure out how much you are comfortable borrowing for a home by determining what you can pay back each month. Review your credit report.

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Finance Inspection Buyers Insurance 41

Will Springer Realtor

JULY 9, 2021

This is hardly a new concept. Just look at major metros around the world – London, Paris, New York City – and they have followed this principle within the city limits. Well, researchers at realtor.com went a little deeper to find out what those consumers are seeking when looking for a new home. THE ROI OF HOME RENOVATION.

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