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Express Capital Mortgage on Appraisal Processes
Express Capital Mortgage on the appraisal process?  Ok, so AzMortgageMan is not here to rant or vent about the process per se but we like to share our recent findings with value challenges.  First, where we are getting information on the values of properties?  Express Capital Mortgage has access to a free tool from a title company where we go to basically get comps based on tax records.  Fast, free, and easy resource.  One step higher than county tax records and definately NOT as good as having ARMLS access.
Express Capital Mortgage or AzMortgageMan does not have direct access to appraisers, nor do we have any license to appraise property.  So what CAN we do when questions pertain to value of a property.  We have to have some indication right?  We are out to help our borrowers not burn $400 for no reason.
Having said that, Express Capital Mortgage employees still find themselves amongst appraisal value disasters but they CAN be fixed.  There are many bad or rushed appraisers out there right now. 
AzMortgageMan doesn't doubt the kind of work that goes into the appraisal.  What Express Capital has been doubting is inconsistancies in two Major areas that determine value. 
Comps and their age
Age ... more

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