home appraisals: Appraisal Waivers: What are They? Who's Eligible? - 05/14/20 01:15 PM
 
Appraisal Waivers:
What are They? Who's Eligible?
 
Many changes surrounding residential appraisals have occurred recently.  Some have come as a response to the challenges presented by Covid-19.  Others were put into place prior to our facing current viral challenges.
 
In this article, I address only those changes made to appraisal requirements and options for Conforming Conventional Loans.  The following are what "Appraisal Options" can mean in those specific cases.   First, it should be pointed out before proceeding: No two loans (or borrower(s) are the same, so no blanket-statement can be made or cover every situation or appraisal requirements required in every transaction. Each scenario must be considered … (24 comments)

home appraisals: Tearing the Heart Out of a Housing Transaction - 02/18/13 05:42 AM
 

Tearing the Heart Out of a Housing Transaction

     I heard it again just this weekend.  A home's Appraisal came in nearly 25% below the Sales Price agreed upon ($200,000 - $250,000 range).  The news was tearing the heart out of the Buyer, Seller, and their agents.  Heck, the entire transaction!
       I ask ...


    Can the market recovery truly establish any solid footing if Appraisals continue to get in the way of a Buyer and Seller's agreement of terms?  Or can the market really rectify and heal itself with prices established … (28 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)

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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