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hvcc: Ch-Ch-Ch-Changes... - 08/11/09 10:33 AM
Like David Bowie's lyrics..."changes are taking the pace I'm going thru" and the mortgage world is going thru changes that take the pace to a whole new level.  It seems every time we turn around, there is a new rule, new legislation, new guideline, new something or other.
On July 30th a new ‘something or other'  became effective.  It's called the Housing and Economic Recovery Act (HERA).  This act requires all mortgage lenders and mortgage brokers to help prevent deceptive lending practices and protect customers by helping them become more informed."  Sounds smart on the surface, right?
With the government stepping … (1 comments)

hvcc: New Appraisal Rules Hit Home Hard - 07/28/09 02:19 PM
The Home Valuation Code of Conduct (HVCC) became effective on May 1st in an effort to insulate the appraisal process from influence by any of the parties that may have an interest in the outcome. So...what is wrong with that?   
Recently, the National Association of Realtors (NAR) conducted a survey...and...well, the survey results weren't so good, however they came as no surprise to realtors, lenders, and mortgage originators.
Here's just a few of the results:
76% report the time to obtain a completed appraisal has increased an average of 8 days. Lost sales are reported by 37% of respondents An increase use … (1 comments)

 

Elizabeth Rose - Certified Mortgage Planning Spec - Texas

Highland Village, TX

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Network Funding, LP

Address: 2800 Corporate Drive, Suite 101, Flower Mound, TX, 75028

Office Phone: (972) 244-3121

Cell Phone: (972) 345-3268

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An inside look at the mortgage market and how it might affect you.


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