Chicagoland Appraisal Blog
MARCH 14, 2017
On February 9, 2017, Sen. Pamela J. Althoff in the Illinois Senate introduced legislation that would remove a provision requiring written disclosure to a mortgage loan applicant of the total compensation paid to the real estate appraiser when the home appraisal has been ordered through an appraisal management company. Basically, the state’s new legislation will increase home appraisal fees.
Genworth MI Blog
MARCH 10, 2017
The home appraisal has been requested … and the waiting begins. As a lender, many questions race through your mind: “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood? Will the appraiser use good comparables? Will the appraised value be sufficient for the loan?”.
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MN Real Estate Services
MARCH 21, 2017
Rules Change? Possible loss of business for Appraisers. Are we setting the stage for future misery, again? U.S. bank regulators may increase the commercial loan threshold for requiring appraisals from $250,000 to $400,000, Bloomberg reported. The change could make it easier for small-business owners to secure financing and also ease costs since appraisal fees are typically well over $2,000.
Genworth MI Blog
MARCH 10, 2017
The home appraisal has been requested … and the waiting begins. As a lender, many questions race through your mind: “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood? Will the appraiser use good comparables? Will the appraised value be sufficient for the loan?”.
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