In 2015, there were 55,000 mortgage appraisers. Today, there are about 35,000 – and they’re dropping like flies. Only 27,000 will remain by 2030.
Borrowers with an appraisal waiver sometimes ask if we can order an appraisal anyway. They do so for any one of the following reasons: (1) They want to make sure they are not overpaying; (2) They...
Most of the world’s analysts are still on the inflation-and-higher-rates train. But there are still a lot of analysts who believe we’ll see lower rates this year, like the gentleman I referenced...
Per our client’s agent, there were 22 offers – and our client’s $1,150,000 offer was not even in the running. So, we’re assuming the home sold for close to $1,200,000, but we won’t know...
A CU score is Fannie Mae's automated risk rating for residential appraisals, ranging from 1 (lowest risk) to 5 (highest risk). Learn what each score means, what triggers a high CU flag, and what...
This is a reminder that lenders (rather than sellers) can pay for temporary buydowns, including 2-1 buydowns.
This is one more reminder that the markets have already priced in the Fed’s impending rate cuts. And that waiting for rates to fall further is often costly.
Appraisals are coming in low more often, but here are six ways to keep deals alive, including smart uses of PMI.
I worked next door to a crotchety old RE/MAX agent for ten years – and we used to bet on the ultimate sales price of upcoming listings. I was always quite certain I’d win because of my vast...
I blogged about Zillow’s flaws many times over the years, starting in 2014, and I am amazed things have not improved more, particularly with the advent of AI. I am bringing it up again today...
Discover how an appraisal contingency protects your investment by letting you cancel or renegotiate a deal if a home appraises below the agreed sales price. This guide explains how appraisal,...
This is a reminder that lenders must always use the lesser of the appraised value or the purchase price on the contract for financing and loan-to-value purposes. So, even if we have a rock solid...
Fed Week: Corruption or Panic on the Part of the Fed? The Fed will announce a rate cut this week, and many pundits are now predicting a 50-basis point cut […]
The total number of appraisers is dwindling so fast that Fannie and Freddie are desperately looking for solutions – and appraisal waivers are just one of them.
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