Better Late Than Never for the
May 26th ActiveRain Zoom Meeting
The 4th ActiveRain Zoom meeting was held this past Tuesday May 26th, a time to socialize with other Rainers for a few minutes and then learn a few things about mortgages these days from George Souto .
And I was late.
It was unavoidable, but I was thankful I only missed a few minutes of what George had to share, along with some other discussion.
I didn’t keep a list of everyone who was there (about 20), but I saw a number of familiar faces from prior meetings – John Meussner , Hannah Williams , Marie Story , Lottie Kendall , Alan May and some newbies, Will Hamm .
George Souto has been a member about as long as I have (2006), so I’ve known him and have enjoyed his blogging wisdom for years. We finally got to meet in person, too, at the AR Meetup in Boston in 2018 at the CRS/NAR meetings.
One of the points that I thought particularly was that buyers should share as much as possible with their lender, and early on. The more then lender knows, the better, especially if there are potential issues that could create a problem with getting a pre-approval or getting the loan. What a buyer might not consider important, or feel uncomfortable about sharing COULD be a big issue from the lender’s perspective.
And these days this is probably even more essential, given people’s jobs, pay cuts and potential layoffs due to the pandemic.
Lots of changes have taken place in our business as a result of the pandemic, appraisals being one of them…drive-by appraisals are being allowed in some cases so appraisers are not entering occupied properties. While I haven’t specifically heard of any issues George mentioned that there can be problems with drive-by appraisals.
The other shift is that lenders may ask for the buyer to pay for the appraisal up front rather than at closing.
Hopefully the weekly Tuesday Zoom meetings will continue, even if there is not a challenge to inspire you. It’s fun to meet up, learn from a fellow Rainer, and practice your Zooming skills and behavior.