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Rocket Mortgage wins $10 million dismissal in 2012 lawsuit

Housing Wire

A group of 2,769 West Virginian borrowers claimed in the lawsuit, which was originally filed on July 23, 2012, that Rocket Mortgage (known then as Quicken Loans ) and its insurance arm, Amrock (formerly Title Source ), were unfairly influencing home appraisal values.

Mortgage 368
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Implementation deadline for appraisal review policy pushed to Oct. 31

Housing Wire

Department of Housing and Urban Development (HUD), the FHA and the government-sponsored enterprises (GSEs) in collaboration with the Federal Housing Finance Agency (FHFA) — was designed to ”develop an aligned approach for both FHA-insured mortgages and those purchased or guaranteed by” the GSEs, HUD explained.

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CFPB reverses pandemic flexibilities, vowing enforcement

Housing Wire

Among the unknowns servicers face in 2021 are changes that could affect lender-placed insurance (LPI). How servicers can stay ahead of Biden’s potential regulatory changes.

Appraisal 435
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Agents fight misconceptions to win deals for military veteran clients

Housing Wire

A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser.

Clients 418
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Home Inspections vs Home Appraisals: The Truth Every Buyer Needs to Hear

Appraisal Hub

For a relatively minor cost, a home inspection is the smartest insurance policy you can buy against inheriting a money pit. Home Appraisals: Whats the House Really Worth? A home appraisal determines the fair market value of the property. If the inspector finds issues, you can: Negotiate repairs with the seller.

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All You Need to Know About Reverse Mortgage Appraisals

AmeriMac

One important aspect of the reverse mortgage process is the appraisal, which determines the value of the property and plays a crucial role in determining the size of the loan. One of the most common types of reverse mortgages is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration (FHA).

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The Top Benefits of Getting a Residential Appraisal in Toronto

Appraisal Hub

Appraisal services in Toronto can provide an independent assessment, which can be used to challenge tax evaluations. Advantageous for Home Improvements and Insurance: Knowing the value of your home can guide you in making effective home improvements. Residential appraisals in Toronto can ensure that your home is adequately insured.