Appraiserblogs

JANUARY 8, 2024

The seeming destruction of the appraisal profession by the federal government, GSEs and lending stakeholders is a collective action problem. Appraisers are responding to new GSE and lending dictates with reactions based on our own personal well-being. It is appraisers who are destroying the message.

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Appraisal Valuation Lending Contracts 125

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender claims actions by Katie Chikonde cost the lender millions of dollars.

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Mortgage Marketing Retail Construction 370

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. “The The lender and LO can make or break the transaction.”

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Buyers Agents Loan Officers Real Estate 403

Housing Wire

OCTOBER 16, 2023

Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Editor’s note: There are conventional mortgage options with down payments as low as 3% and government-insured loans with a low- or no-down-payment requirement.) It never will be. I’ll explain later.)

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Agents Buyers Sellers Inventory 417

Housing Wire

JUNE 9, 2022

That is typically accomplished through whole loan sales or private label securitizations along with hedging — such as the use of third-party forward contracts that allow for bulk loan sales at a future date at a predetermined rate. Yoon added that the new app also will “be built on the backside as blockchain-capable.”

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Marketing Contracts Technology Mortgage 388

Housing Wire

MAY 2, 2024

Ben Hunsaker, a Beach Point Capital Management portfolio manager who is focused on securitized credit, said that during the past year, nonqualified mortgage (non-QM) AAA bond spreads have actually contracted from 155 to 135, while agency mortgage-backed securities (MBS) spreads have widened from about 118 to 134 over the same period.

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Marketing Mortgage Investors Sellers 441

Miller Samuel

FEBRUARY 12, 2019

In ’09, Miller said sellers were anchored to the “pre-Lehman, pre-financial crisis asking prices” and had to travel farther on price to meet a buyer. Miller measures listing discount by the percent difference between the contract price and the price that the property was listed for sale at the time of contract – not when it was first listed).

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Marketing Real Estate Appraisal Sellers 221

Housing Wire

DECEMBER 20, 2021

A $250 monthly child tax credit from the federal government for each child also helps the household. Governments and servicers were both quick to launch forbearance programs for over seven million mortgage borrowers during the pandemic, realizing the historic challenge borne out of the Covid-19 pandemic. But will end in December.

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Mortgage Government Contracts Insurance 403

Appraisal Today

SEPTEMBER 27, 2024

This class is required before this new UAD material can be taught to other appraisers, under contract with the GSEs. FHA, VA and USDA will be incorporating this new process for their residential lending Reports in roughly the same time frame as will happen with GSE Reports. It is like a game of ‘who’s-going-to-blink-first’.

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Eppraisal

JANUARY 31, 2023

Having identified a parcel of vacant land -- and negotiated a purchase contract with the seller -- the investor in raw land is now at the point where financing becomes the issue.  There The advantages of an all-cash deal are several: - Sellers are more open to a lower price with cash-only offers. Why does this matter?

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Appraisal Today

SEPTEMBER 20, 2024

percent from one week earlier Appraised Value Vs. Sale Price Excerpts: Property sellers often ask professionals who are performing appraisals for mortgage lending, “Why is an appraisal even needed? The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.15

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Appraisal Business Contracts Real Estate 76

Zillow

JULY 15, 2019

Closing : A one- to two-hour meeting during which ownership of a home is transferred from seller to buyer. A closing is usually attended by the buyer, the seller, both real estate agents and the lender. Closing escrow : The final and official transfer of property from seller to buyer and delivery of appropriate paperwork to each party.

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Real Estate Agent Inspection Insurance Sellers 56

Housing Wire

MARCH 7, 2022

Absolutely, I will offer an NFT option to sellers within the next year,” said Richard Hopen, a Compass agent in Short Hills, New Jersey. The Gulfport seller, Heckler explained, created a limited liability company that held ownership of the home. Propy then guided the seller into minting the LLC as an NFT.

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Real Estate Law Inspection Agents 493

Housing Wire

MAY 31, 2022

Led by Irma DeLoen, Geneva Financial’s Chicago branch will offer products including conventional and government loans, such as loans from the Federal Housing Administration (FHA), Veterans Affairs and U.S. Planet Home Lending delivers home loans backed by Fannie Mae , Freddie Mac , VA, FHA and USDA in 47 states, Washington, D.C.

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Mortgage Construction Lending Real Estate 388

PennyMac

MARCH 4, 2024

Purchasing a home is a big step, and you want a knowledgeable lending partner by your side as you weigh your financing options and navigate the paperwork involved. When you work with a lender that provides this, you’re doing much of the legwork involved in obtaining a mortgage contract without actually finalizing it.

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Loan Officers Insurance Mortgage Sellers 65

Appraisal Today

AUGUST 4, 2023

The censorship is part of a march toward what appraiser and podcaster Phil Crawford has coined “universal basic home value” – a utopian vision among idealogues in which government technocrats dictate the supposed value of a property using algorithms and machine learning. The average contract interest rate for 5/1 ARMs increased to 6.18

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Appraisal Business Contracts Real Estate 74

Housing Wire

APRIL 19, 2021

In this testimony, which also was published by the CATO institute , he called for the GSEs to be put into receivership, to pay employees on the government salary plan and to increase capital to bank standards. billion over any four quarters, impacting many medium and large nonbank sellers, as well some community banks.

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Mortgage Government Investors Business 521

Realtor

NOVEMBER 1, 2023

It also shows home sellers and listing agents that you’re a strong home-buying candidate. Getting under contract Signing a contract to purchase a home comes next. VA appraisal Once a veteran is under contract, their lending team will order an appraisal, which is conducted by an independent VA appraiser.

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Real Estate Agent Contracts Finance Real Estate 127

Housing Wire

JULY 19, 2023

The pace of M&A deals in the IMB market in 2022 and projected for 2023 combined is expected to be more than double the mark set during the unicorn lending years of 2020 and 2021, according to one recent industry analysis. The trajectory of merger and acquisition (M&A) deals bears that reality out.

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Mortgage Marketing Lending Buyers 370

The Robert Weiler Company

OCTOBER 21, 2022

The information that arises helps enlighten those who own, manage, sell, lend money, or invest in commercial real estate property. Market value is the most likely selling price a knowledgeable buyer would pay to a knowledgeable seller. You may need a commercial valuation for many reasons.

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Real Estate Appraisal Property Appraisal Valuation 60

Appraisal Today

AUGUST 23, 2024

Lenders rely on reviews to ensure the accuracy and reliability of appraisals before making lending decisions. Government agencies may request reviews for regulatory purposes, tax purposes, or right-of-way acquisitions. It was my last review for lending purposes. The average contract interest rate for 5/1 ARMs increased to 6.25

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Appraisal Contracts Investors Mortgage 70

Appraisal Today

JUNE 28, 2024

The technology has been drifting into mortgage lending reliance for more than a decade because it has been marketed as having the ease of “pushing a button.” Once the appraisal is completed, it is reviewed to ensure accuracy and compliance with lending standards.

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Valuation Appraisal Real Estate Real Estate Agent 60

Appraisal Today

AUGUST 25, 2023

I have seen this type information before, but mostly from contacting companies, recruiters or government databases. The sellers custom built the home between 2007 and 2009, using high-end materials and finishes, including a wall of windows and 26-foot-high ceilings in the great room. The 900 sq.ft. to develop and report appraisals.

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Appraisal Real Estate Agent Agents Real Estate 80

Appraisal Today

SEPTEMBER 15, 2023

2023) Updated August 2, 2023 Excerpts: Fannie Mae and Freddie Mac (government sponsored enterprises or GSEs) published their Appraiser Independence Requirements in October 2010. This typically happens when an appraiser turns in an appraisal with an appraised value opinion lower than the sale contract price. Totally different than AMCs!

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Appraisal Real Estate Agent Contracts Real Estate 85

Raleigh Realty

MAY 3, 2021

The challenges of buying a home as a recent college graduate are similar to that of buying a home as a government employee. Unconventional loans are insured by the federal government. Pre-approval provides you and the seller a sense of how much house you can buy. You'll build equity and credit.

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Real Estate Agent Real Estate Inspection Insurance 78

Appraisal Today

FEBRUARY 9, 2024

The government and those that write the rules have made it illegal (a punishable violation) to refuse an appraisal assignment in an area which consists primarily of non-whites. Back in the day, this protected the lender from lending more than the home/property is worth. MORTGAGE LENDING IS VERY, VERY CYCLICAL. percent from 13.3

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Appraisal Contracts Insurance Construction 83

Movoto

MARCH 25, 2024

Unlike a credit card or a car loan, a mortgage loan is more involved than other consumer lending scenarios. Think of getting pre-approved for a mortgage as a kind of stamp of approval: it shows sellers you’re a serious contender with the financial backing to buy their home. Identification (valid government ID).

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Mortgage Real Estate Agent Sellers Real Estate 36

Appraisal Today

JANUARY 12, 2024

Ignoring market conditions adjustments makes us look incompetent to buyers, sellers, lenders, Realtors, and the general public. NOTE: Please scroll down to read the other topics in this long blog post on 2024 forecasts for mortgage rates and originations, Private Money lending, unusual homes, mortgage origination stats, etc.

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Appraisal Contracts Mortgage Marketing 70

Will Springer Realtor

FEBRUARY 13, 2024

The true barometer will be measured by the number of homeowners who enter the market this year – depending on lending rates and personal factors. We know buyers are eager to purchase properties, as 39% more homes went under contract in January (1719 units) compared with the previous – admittedly quiet – month. higher than January 2023.

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New Listings Buyers Inventory Lending 66

PennyMac

JANUARY 3, 2024

A contingency clause in the purchase contract allows you to back out of a contract if the sale of your current home doesn’t go through within a specified timeframe. This is great for you as a buyer but not as a seller. On the other hand, during a seller's market, strong demand for homes can create bidding-war conditions.

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Real Estate Agent Buyers Real Estate Mortgage 36

Will Springer Realtor

DECEMBER 19, 2023

Buyers and sellers tiptoed through caution. Prospective buyers and sellers watched this one out from the sidelines, leading to King County sales activity hitting lows not seen since 2010 at the heart of the housing crises. “Pent-up sellers cannot wait any longer. Um, bye-bye! Is the market getting ahead of itself?

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Real Estate Buyers Sellers Inventory 69

Appraisal Today

SEPTEMBER 1, 2023

If the appraisal is for lending purposes, be sure to find out if it is “lendable” before spending much time on it. Examples of verification sources include, but are not limited to, the buyer, seller, listing agent, selling agent, and closing documents in certain situations. The one below with a jail is a good example! percent from 7.27

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Appraisal Contracts Mortgage Real Estate 81

Housing Wire

NOVEMBER 30, 2023

From agency relationships to local government regulations and more, every topic is inspired by the property types and types of transactions you’ll encounter as an Ohio real estate agent. Brimming with coursework that is up to date with current trends, expect to receive insight on issues facing Ohio real estate agents today.

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Real Estate Real Estate Agent Law Inspection 430

Housing Wire

APRIL 27, 2023

But the caveat, of course, is that all bets are off if there’s a more meaningful contraction in lending [in the wake of recent bank failures and other economic factors] because then you’re in serious trouble,” Petrosinelli added.

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Renovations Investing Real Estate Marketing 385

Housing Wire

SEPTEMBER 20, 2021

Appraisals in Black and Latino neighborhoods are more likely to fall short of the contracted sale price, a Freddie Mac study of 12 million appraisals found. The research examined appraisals for home purchases the government sponsored enterprise received from 2015 through the end of 2020. That hypothesis, too, led to a dead end.

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Appraisal Contracts Valuation Government 460

Will Springer Realtor

APRIL 10, 2024

Recent news that the National Association of Realtors® (NAR) wishes to settle a series of lawsuits from home sellers has sent ripples through the real estate industry. Allegations of collusion to inflate compensation paid to both buyer and seller agents in transactions prompted this landmark settlement, estimated at a staggering $418M.

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Real Estate Buyers Sellers Insurance 36

Will Springer Realtor

APRIL 11, 2023

After nearly a year, the housing sector’s contraction is coming to an end,” notes Lawrence Yun, National Association of Realtors® chief economist, speaking about the U.S. Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.” 

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