This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Loanofficers and listing agents are familiar with homeowner anxiety about real estate appraisals. The appraisal inspection is typically where such interactions occur, and this can be a stressful experience for the borrower. Tips for an On-Site Appraisal Inspection. Let the Appraiser Control the Inspection.
Welcome to the very first post in our all-new series The LoanOfficer’s Guide to Appraisals. In this blog post, we’re starting with the end. Well – not really the end, but one of the last parts of some appraisals – namely the final inspection. We’ll briefly look at what a final inspection […].
Loanofficers and listing agents are familiar with homeowner anxiety about real estate appraisals. The appraisal inspection is typically where such interactions occur, and this can be a stressful experience for the borrower. Tips for an On-Site Appraisal Inspection. Let the Appraiser Control the Inspection.
Enact’s David Foster recently spoke with MortgageOrb about how the COVID-19 pandemic impacted inspections and appraisals, the changes we see today, and other appraisal factors to consider. Q: How have inspections and appraisals been impacted since the beginning of the COVID-19 pandemic?
By foregoing contingencies such as home inspections and appraisals altogether, mortgage lenders risk violating their fiduciary duty – which is supposed to prioritize the interests of the borrower above all else. appeared on Appraisers Blogs. After all, who doesn’t want to close more deals in less time? But What About Fiduciary Duty?
By foregoing contingencies such as home inspections and appraisals altogether, mortgage lenders risk violating their fiduciary duty – which is… The post HUD’s Use of Convicted Felons to Ramp Up ‘Discrimination Testing’ appeared on Appraisers Blogs. But What About Fiduciary Duty?
For the past six months, I’ve been blogging with the purpose of assisting loanofficers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.
Welcome to the September edition of our blog series, The LoanOfficer’s Guide to Appraisals. This entire year, I’ve been blogging once a month with the purpose of assisting loanofficers to better understand the appraisal process. This month’s blog post will be all about new construction appraisals.
Remember when loanofficers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? For some, these myths still flood our thoughts when a potential borrower approaches us about a loan for a manufactured home.
Real estate agents and loanofficers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. Special Features: Unique aspects of the property, such as energy-efficient upgrades or historical significance, that may not be obvious from a standard inspection.
Right now on our Appraisal Blog, we’re all about helping LoanOfficers. This post is part six of a 12-part series we’re calling The LoanOfficer’s Guide to Appraisals. We’re halfway there!
Right now on our Appraisal Blog, we’re all about helping LoanOfficers. This post is part five of a 12-part series we’re calling The LoanOfficer’s Guide to Appraisals. The post The LoanOfficer’s Guide to Appraisals Part 5: What is bracketing and why do we do it? So if this is […].
Handling property condition concerns on the appraisal report That said, if photos or notes outlined in the appraisal report cause concern for the reviewer, further inspection or repairs may be required. Property conditions that impact subject livability, soundness, and/or structural integrity may cause such further inspection/repairs.
You can read more about property inspection waivers in a past article I wrote. Appraisal vs Home Inspection. As a new homeowner, you might be confused about the differences between an appraisal and a home inspection. Home inspections are normally regulated by the state.
Remember when loanofficers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? For some, these myths still flood our thoughts when a potential borrower approaches us about a loan for a manufactured home.
There is an on-site visual inspection of the property and a suggestion of improvements followed by the research, analysis and development that produces the appraisal report. They matter to the lender to ensure the property is sufficient collateral for the loan amount. Never miss a post by subscribing to the Enact MI Blog!
That includes two agents, the processor and loanofficer. “The most efficient way is to use a drone to inspect properties all around.” Want to contribute to our blog? I know some of these are automated, and they can really be annoying and are clogging my inbox.” That situation is very burdensome.”
Decide who you want to work with for your inspections, attorneys , and lender, to name a few. The Closing Disclosure (CD) , which will be sent directly to you from your attorney or title company at least 3 business days before closing, lays out in detail the final terms of your loan including monthly payments and fees.
The only appraisal that use to be done, and that most people are familiar with, was a full appraisal by a licensed or certified person who would physically inspect the property and then write up the report and deliver it to the lender. The post 3 Types Of Appraisals Realtors Should Be Aware Of appeared first on Birmingham Appraisal Blog.
Whether it is in regard to staging your home before selling it or worrisome inspection findings, you should be able to trust your agent to give you their expert opinion and guide you away from big mistakes before you make them. With the right team, including your PennyMac loanofficer, your experience will be as smooth as possible.
Do buyers really need to include contingencies for home inspections and financing? (I Inspections – Speaking of which, think about bypassing the inspection contingency if the seller has already provided an inspection report. Clean is best – Make the cleanest offer possible.
Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. This is the future of GSE using appraisers.
The reverse mortgage appraisal report stands as a pivotal element in the loan application, influencing the terms and approval, making it an indispensable part of the entire process. When applying for a reverse mortgage, it is important to work closely with your loanofficer. How does an appraisal affect the reverse mortgage?
Understanding how home loans work and getting prepared can help set you up for success. Pennymac has developed a blog series, "Explaining the Home Loan Process," to support homebuyers in navigating the entire mortgage journey, from preparation to closing and beyond.
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content