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For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisalprocess. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.
If you’re new to our blog, let me first say ‘Welcome!’ This blog is part four of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 4: Tips for a Successful Reconsideration of Value appeared first on Riverfront Appraisals.
This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisalprocess. So far, we’ve covered communication with the appraiser, reconsiderations of value, FHA appraisals and a few other topics you should definitely go check out.
Right now on our AppraisalBlog, we’re all about helping Loan Officers. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. We’re halfway there!
Right now on our AppraisalBlog, we’re all about helping Loan Officers. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value.
Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I believe that appraisers and agents have a common goal: to help their clients buy or sell a home.
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. Paul, Minn.).
As you can see, there are major differences between home appraisals and home inspections and both are very important. There are numerous steps in the appraisalprocess and it’s important to know each step involved. Steps in the AppraisalProcess. What If The Appraisal Is Less Than The Contract?
Benefits of Sharing the CMA with the Appraiser During the appraisalprocess, the appraiser will conduct their own market research to locate the most recent and similar comparables to the property they are appraising. I discussed this process in a previous blog post which you can read HERE.
Communicating quickly with the lender is an issue with the appraisalprocess. Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! To read more of this long blog post with many topics, click Read More Below!!
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” My comments : ROVs are a PITA for many appraisers. No ads in the blog post. By Greg Stephens, SRA, AI-RRS.
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