Appraisers Blog

APRIL 9, 2024

Please accept our invitation for case located at the following address: Subject Property xxxxx San Diego, CA 92129 Type: Desktop Appraisal Lender: Flyhomes Mortgage, LLC Due Date: 04/01/2023 Fee: $55.00 We have a new APPRAISAL order for you! Seek the truth.

Appraisal 70

Appraisal 70

The Guardian M&A

MARCH 21, 2024

The deal, which will solidify Nationwide’s position as the UK’s second largest mortgage lender, will also trigger the resignation of Virgin Money boss David Duffy, and is likely to lead to job cuts as well as an official “review” of the combined group’s workforce.

Banking 81

Banking 81

Appraisers Blog

JULY 24, 2023

They are also not interested (nor is the VA) in mortgage fraud perpetrated or continued ignored by Freddie Mac or its waterfall associates (lenders, appraisers, insurers, etc.) My husband and I currently have a lawsuit for mortgage fraud against FM, and the others noted. Freddie Mac wants indemnified by the lender and servicer.

Appraisal 78

Appraisal 78

Appraisers Blog

FEBRUARY 1, 2024

If appraisers refused to offer their services through amc’s, and instead made themselves available to lenders directly with a clear message they do not work for amc’s, there is a higher probability that lenders would assign the work to appraisers directly instead.

Appraisal 75

Appraisal Marketability 75

Appraisers Blog

AUGUST 11, 2023

They stated it was the income gap, homeownership rate gap and mortgage gap. The income gap causes the homeownership rate gap and the mortgage gap. HUD is being bamboozled by lenders and politicians with their own agendas. Lenders want to make more money by using AVMs. They didn’t blame appraisers.

Appraisal 72

Appraisal 72

Appraisers Blog

SEPTEMBER 27, 2023

Mortgage rates will climb as they have done for years during the last quarter of the year. After the lenders and mortgage loan officers return from The South Pacific Islands and Bora, Bora for their Christmas vacations. It will be time again to create a pipeline again of mortgage work in the first quarter of 2024.

Appraisal 59

Appraisal Marketability 59

Appraisers Blog

JANUARY 29, 2024

That’s when I used to forward the order back to the lender directly and say; I’m available, just not through these amc’s whom steal half my income. Lenders are often surprised to see the actual orders at the appraisers end. In reply to AppraiserInPA. Is the appraiser side compensation reduced?

Appraisal 76

Appraisal 76

IVSC

JULY 31, 2023

Would require additional specifications to clarify how a current use of either Market Value or Mortgage Lending Value could be included in the definition of property value.

Banking 246

Banking Appraisal Marketability 246

Business Wire M&A

MARCH 13, 2023

SAN DIEGO--(BUSINESS WIRE)-- #CherryCreek--Guild Mortgage acquired Cherry Creek Mortgage, a privately held Colorado-based lender with 68 physical branches in 45 states.

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98

Appraisers Blog

FEBRUARY 7, 2024

Those guidelines regarding lenders responsibility in engaging appraisers are located in AIR, appraiser independence requirements. Separation from mortgage loan production is section 4. In reply to Mary Cummins. link] I’ll come through with another post for investigators and legislators to read later, busy now.

Appraisal 59

Appraisal 59

Law 360 M&A

JUNE 2, 2022

Silberstein was part of a Greenberg team that closed a $16 billion merger between mortgage lender United Wholesale Mortgage and The Gores Group last year, which is one of the reasons she's been picked as one of Law360's Rising Stars this year. Greenberg Traurig LLP mergers and acquisitions shareholder Daniella G.

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98

Appraisers Blog

OCTOBER 14, 2023

I agree with the author and stopped accepting lender assignments at the beginning of the year. The fees are going down, the liability is increasing, there is less work due to mortgage volume, and new lending forms are now being introduced. Perfect storm.

Appraisal 75

Appraisal 75

Law 360 M&A

OCTOBER 6, 2023

Mortgage company AmeriFirst Financial Inc. asked a Delaware bankruptcy judge to approve a private sale of loans to pay off two warehouse lenders and secure $1.4 million for its coffers.

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68

Appraisers Blog

APRIL 9, 2023

We the people need to redirect the mortgage lending direction… The time for every appraiser and consumer to step up is now. Appraisers have been the target for blame for everything gone wrong in the mortgage lending world. I work for this lender and… The post We the People… appeared on Appraisers Blogs.

Appraisal 88

Appraisal Finance 88

Appraisers Blog

MARCH 7, 2024

When things go wrong they contact experienced appraisers, constantly hear the same story; They will not work with mortgage lenders because of the amc’s unfair fee raking and unfair priority distribution to only the fastest and cheapest appraisers out there. Just not enough to go around.

Appraisal 96

Appraisal 96

Appraisers Blog

JUNE 28, 2023

I’d imagine lenders will do and say anything to avoid state based complaints, in order to avoid the discovery process. for lenders and amc’s to over charge American consumers, but you get in big trouble if one over charges the government. That’s everyday practice in mortgage lending and the amc world.

Appraisal 63

Appraisal Equity 63

Appraisers Blog

MARCH 7, 2024

I also never went to Blockbuster to obtain 1/4 to 3/4 million dollar mortgages. I expect it will be much more once consumers start suing lenders for predatory lending or collusion to defraud them. Any investor foolish enough to treat such loans as a drive through convenience item deserves the inevitable losses they will incur.

Appraisal 62

Appraisal 62

Harvard Corporate Governance

NOVEMBER 4, 2022

Given that these “tripwires” serve as an important tool for lenders seeking to protect their financial claim prior to payment default, the secular trend has drawn concern from policymakers and industry professionals. These loans are generally poorly underwritten and include few protections for lenders.”.

Finance 150

Finance Banking Marketability Treasury 150

Appraisers Blog

APRIL 23, 2024

Expanded patent history, they share the tools with lenders. And now we know why lenders deny more loans among some socio economic groups of people and not others. link] The mortgage application data may include property valuation information and geographic information. The CU system is a mass assessment hedonic regression tool.

Net Present Value 78

Net Present Value Appraisal Marketability 78

Appraisers Blog

OCTOBER 26, 2022

Does a mortgage lender have liability to the borrower for a negligent appraisal? Leaving aside the appraiser’s potential liability, does a mortgage lender have liability to the borrower for a negligent appraisal? It ruled that the lender did not owe the borrower. An Ohio appellate court recently said “no.”

Appraisal 75

Appraisal Finance Marketability 75

Appraisers Blog

FEBRUARY 13, 2024

95 – 99% of my business is direct lender and 1 – 5% is private. The reality is many banks / mortgage companies do not like AMC’s either. In reply to Honest Appraiser. It can be done. That is a myth that too many appraisers believe that you have to work with / for AMC’s to sustain an appraisal business.

Appraisal 55

Appraisal Banking 55

Appraisers Blog

NOVEMBER 20, 2023

The other service I offer to lenders is Nothing by the Rush bids which have larger rush fees included. Just a few months away, in 2024 the mortgage interest rates will drop significantly and create a refinance and a purchase market which will create a need for appraisers.

Appraisal 75

Appraisal Marketability 75

Appraisers Blog

NOVEMBER 2, 2023

All they can offer without going back to the lender. So mortgage companies are as much in fault as AMCs. Pat, I just got an offer for 1004 for $375. I reminded the AMC there is a Dodd Frank Act: appraisers needs to be paid customary and REASONABLE fee… This company shows the appraiser fee, and I know they take ~20%.

Appraisal 73

Appraisal 73

Law 360 M&A

NOVEMBER 17, 2023

Fannie Mae has asked a Delaware bankruptcy judge to reject mortgage lender AmeriFirst Financial's proposal to sell $8 million worth of servicing rights to Fannie Mae loans, saying the deal can't go through until it signs off.

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52

Financial Times M&A

AUGUST 23, 2023

Merger values mortgage lender at a pre-transaction equity value of $6.9bn

Equity 74

Equity 74

Appraisers Blog

JANUARY 3, 2024

Understand this…the Appraisal Institute has never exhibited effective leadership or representation for the interests of appraisers preparing appraisals for “mortgage lending purposes” So, don’t expect that to be or change in the future. Thus, the lenders control the entire appraisal process.

Appraisal 52

Appraisal 52

Appraisers Blog

JUNE 12, 2023

I gave up doing AMC work 20 years ago, when it became very apparent that lenders and lender interest groups were moving toward controlling the entire appraisal process for mortgage lending. There is certainly appraisal life, after working for lenders for 20 years. Appraisers can comply or get no or minimal work OR leave.

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Appraisal Comps 70

Appraisers Blog

JUNE 27, 2023

By foregoing contingencies such as home inspections & appraisals altogether, mortgage lenders risk violating their fiduciary duty.

Appraisal 63

Appraisal 63

Appraisers Blog

JUNE 27, 2023

By foregoing contingencies such as home inspections & appraisals altogether, mortgage lenders risk violating their fiduciary duty.

Appraisal 60

Appraisal 60

Appraisers Blog

MARCH 27, 2023

The truth of the matter is that appraisals are an essential part of any mortgage transaction and should not be taken lightly or eliminated without due consideration. Without them, there can be no assurance as to whether a homebuyer will get what they pay for or if lenders will make bad investments with their money.

Appraisal 143

Appraisal 143

Appraisers Blog

OCTOBER 11, 2022

New revelations from the nation’s second-largest mortgage lender will make the U.S. Lenders Want to Eliminate DTI Cap! HousingWire is reporting that a coalition of lenders and trade…. That was in 2016. taxpayer want to take a good long pull on the nearest bottle of hand wash. This time the fraud is against the….

Appraisal 95

Appraisal Banking Finance 95

Law 360 M&A

DECEMBER 6, 2023

A lender to bankrupt mortgage provider AmeriFirst Financial Inc. told the Delaware bankruptcy court a proposed lawsuit from the unsecured creditors committee is rehashing "baseless claims."

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40

Appraisers Blog

MARCH 29, 2023

With falling values across many markets combined with rising mortgage rates putting even more pressure on borrowers’ wallets, this decision could potentially put. The fact is, Fannie… House Measurement by Property Data Collector Gone Wrong The lender allowed an unlicensed property data collector give bad data to the appraiser.

Appraisal 90

Appraisal Banking Marketability Finance 90

Appraisers Blog

AUGUST 25, 2022

In their Seventh Claim for Relief, 2 plaintiffs allege the Miller Defendants negligently misrepresented “that they were providing an unbiased appraisal of [the Austins’ house],” and that the Austins “reasonably relied” on such representations “in attempting to secure a mortgage. We’ve all heard….

Appraisal 99

Appraisal 99

Appraisers Blog

JANUARY 17, 2024

New scope of work; All refinance requests require home owners to acquire multiple storage units and move everything out of their house in order for the appraiser or the property data collector to review the house in an ‘unbiased manner’ Lenders are going to regret not standing up for appraisers if this plays out much further.

Appraisal 56

Appraisal Marketability 56

Appraisers Blog

JANUARY 2, 2024

Yes, this was on the horizon 10 years ago; according to all parties involved in a transaction or refinance appraisers are too expensive, they kill deals and they hold up closings.

Appraisal 49

Appraisal 49

Appraisers Blog

FEBRUARY 16, 2024

” Their reply always is “that doesn’t make sense”, I say “that’s just how the government allowed things to progress since 2008” 1

Appraisal 67

Appraisal 67