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appraisals in missouri: Appraiser Cannot Bend on FHA Property Guidelines! - 01/28/09 10:17 PM
This Missouri appraiser feels tired and worn down from real estate agents, loan production staff and recently underwriters telling him to look the other way on FHA concerns. HUD wrote a code for various things to be checked, I am not a building inspector, and I certainly do not wish to perform home inspections. Just a few things have to be in order. In previous blogs, I have summarized the FHA observation. Any appraiser in Missouri has long understood that no house is a perfect structure with all million parts in perfect order.
I as a professional that performed a significant number … (4 comments)
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appraisals in missouri: FHA To Now Requires Second Appraisals for Many Cash Out Refinances! - 01/02/09 10:00 PM
THE 2055 FHA APPRAISAL REPORT (FOR SECOND APPRAISAL REPORTS!)
The FHA Appraisal is now required to be performed by two seperate appraisers on many cashout FHA refinances. While this could be a hardship to some borrowers as payment for such FHA appraisal reports can be expensive. Loans insured by FHA mortgage insurance that are cash out refinances now require two FHA seperate appraisals. A second appraisal may be performed on am 2055 appraisal form (FHA Driveby Appraisal)
This appears to be another step in HUD trying to keep the FHA mortgage process from falling into trouble. Overall this could be less risk for … (5 comments)
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appraisals in missouri: What Happened to Our Friends in Real Estate! - 12/21/08 09:33 AM
I miss many of my friends who left real estate related professions and now must go out into the real world. The real estate world has definetely shrunk and there are less of us. I can remember regularly dealing with people that I like and had similar interests and goals to me. Now their days are consumed with working out into the new careers.
I have noticed real estate agents working at Walmart. Not any that I was acquainted with, however I did reconize a couple. These people surely had friends and contacts in the real estate world that worked with them. … (10 comments)
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appraisals in missouri: Transferring An Appraisal From One Lender to Another! - 06/08/08 03:31 PM
You are trying to get a mortgage loan and you fall out with your mortgage professional or somebody offers you an overall better mortgage. You paid for your appraisal, it is yours correcct? No, your mortgage lender engaged the appraiser, for an appraisal report, and they are the client.
Many mortgage professionals, borrowers and REALTORs do not understand that by federal law (FIRREA act) the mortgage lender must engage the appraiser for an appraisal and be named as client on the appraisal report. Oftentimes appraisers hear "But you do understand, my personal check paid for that report, it is mine." Sorry, it just … (2 comments)
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James Graner
Saint Charles,
MO
More about me…
Residential Services: http://appraisalmo.com
Address: 1245 Cunningham Ave, St Charles, MO, 63301
Office Phone: (636) 916-4325
Cell Phone: (314) 277-3336
Email Me
Things that I like to write about! This might include general real estate matters, sports, politics, mortgage business, or real estate appraisal.
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