appraisal: The State Of Mortgage Lending Today
- 10/25/11 08:12 AM
The state of today’s mortgage lending is characterized by three major factors: market volatility, accountability, and challenges in selecting the right mortgage lending source.
Market volatility refers to both mortgage rates and home prices. Mortgage rates, which depend on publicly traded bond markets for mortgage backed securities (MBS), fluctuate daily, if not several times a day, due to global and domestic economic events. Threats of inflation, government borrowing, economic trends, foreign debt and trade, political unrest affecting commodity prices, stock market activity—all of these cause reactions in the bond market that affect mortgage rates. Although rates are at all time … (0 comments)
appraisal: 7 Questions to Ask Your Asheville Lenders
- 07/06/11 07:43 AM
DO YOU KNOW WHAT QUESTIONS TO ASK WHEN YOU’RE SHOPPING FOR A MORTGAGE? MOST ASHEVILLE LENDERS WILL BE PRETTY CLOSE TO EACH OTHER IN RATES AND FEES. RATES MEAN NOTHING IF YOUR LOAN IS NOT APPROVED OR CAN’T CLOSE ON TIME. Today, with all the uncertainty and strict loan guidelines, you really need to work with an Asheville Lender who can get your loan approved and closed quickly and efficiently. But how do you find such a lender? Here are 7 Questions to ask a prospective lender. 1. Are you lending your own money? Alpha owns the process from application … (0 comments)
appraisal: Make Upgrades Count: Ask Your Lender to Use A Local Appraiser
- 02/27/10 08:58 AM
Tony has written a nice summary and provided useful links to appraisal requirements. Anyone interviewing potential lenders should ask the question "Who orders your appraisal and where do the appraisers come from?" If the lender cannot guarantee experienced local appraisers who are familiar with the area, you should find a lender that does or risk a lot of unhappiness. If the lender orders appraisals via a third party appraisal company who puts appraisals out to bid and takes the low bidder, you could get an appraiser who does not know the area, and now you have set the stage for a disappointing … (1 comments)
appraisal: How to Prevent or Mitigate HVCC and AMC appraisal issues
- 01/06/10 03:53 AM
This blog entry is more for sellers and realtors, but the issues are important for everyone. Buyers, too, should seek to work with lending sources who use local, experienced appraisers. Although on its face, having a low appraisal may seem to benefit buyers, this is a short term benefit. Someday, perhaps sooner than expected, buyers will become sellers, and then the appraisal issue suddenly affects them in the other direction. So it behooves buyers also to have accurate appraisals. The key is to have an accurate appraisal done by someone who knows the locale and the market. An appraisal fundamentally is … (1 comments)
appraisal: Who's Ordering Your Appraisal? How HVCC Affects Your Next Mortgage.
- 07/02/09 03:15 AM
Once upon a time, we lived in a perfect world where everyone knew everyone and things went smoothly with the appraisal process. Your loan officer (mortgage broker or mortgage banker) had a list of appraisers that she knew understood the market, and ordered appraisals directly. In a perfect world, loan officers and appraisers never argued about property values, and never collaborated to inflate values to commit loan fraud. Loan officers never put pressure on appraisers to increase values so they could fit a loan into the right ratios, and appraisers never deliberately ignored good comps that didn't support the property value. Since the borrower relied … (0 comments)
The state of today’s mortgage lending is characterized by three major factors: market volatility, accountability, and challenges in selecting the right mortgage lending source.
;)
;)
