appraisal issues: Who's the Real Expert Here? The Buyer or the Appraiser? Part 2 ... - 09/07/11 06:10 AM

     Yesterday, in Part 1 of this post, I spoke of a first-time home buyer facing the dilemma of having to "adjust" her purchase offer on a home or walk away from the transaction.  This home buyer found herself in this predicament because appraisers (and yes, I said plural) would not "adjust" their evaluation for the home.
      As supported by the many comments I received regarding Part 1 of this post, this dilemma is not an isolated incident.  It in fact is occurring in near epidemic levels in many areas of our country.       There is … (24 comments)

appraisal issues: Who's the Real Expert Here? The Buyer or the Appraiser? Part 1 ... - 09/06/11 09:34 AM

    Lately, it's become obvious to me ... the "so-called" un-ending oversupply of homes for sale, is not so ripe with great homes at great prices.  Not all homes are in tip-top shape, nor are they priced realistically or temptingly for today's current market or home buyers.
    It's also abundantly clear that those homes that ARE priced right and in good condition don't always get the consideration and respect they are due.  Sometimes by the buyers.  Other times by the appraisal professionals asked to appraise them.
      Here's a good example of the latter opinion:  I … (41 comments)

appraisal issues: Put Away the Deodorant. Follow These Tips and There Will Be No More Sweating over Appraisals. - 09/14/10 10:36 AM
       Want to see a real estate professional or seller really sweat? 
         Mention the word APPRAISAL to them these days ...     
     As a Mortgage Banker and former professional Appraiser, I can tell you ... APPRAISALS are the number one reason loans are currently being scrutinized so closely by Lenders, Fannie Mae/Freddie Mac, and FHA ... and then eventually deemed "unacceptable files" for repurchase in the secondary market.
    This concern regarding repurchase, accounts for many of the delays, analysis, and scrutiny by Underwriters of appraisals that real estate professionals are experiencing today.
    How can an agent or broker help alleviate some of this … (12 comments)

appraisal issues: Appraisals & the HVCC ... Are You Frustrated With the Current Hassles? - 06/22/10 06:34 AM

     Appraisal issues continue to be a problem for competing Lenders, Banks, and Mortgage Brokers.  I receive calls from Attorneys and Realtors ... even Borrowers themselves (after the loan has not closed through a competing lender), asking, "What can you do to help this situation"?  Currently, this is happening more often that you would think ... or like.
     I definitely do not mind receiving phone calls or pleas for assistance regarding this issue.  I'm always happy to have a chance to help and also grow my business.  And, this is a problem where I think I hold a definite edge over many … (33 comments)

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

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