Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road. Home Inspection. But is that the best move?

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Inspection Loans Mortgages As-is 251

Maximum Exposure Real Estate

NOVEMBER 28, 2023

Are you wondering about the VA loan inspection requirements? There are appraisal and inspection guidelines that VA inspectors must follow. Did you know that the homes you’re looking at might not be acceptable to some lenders? It’s true.

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The Mortgage Report

JANUARY 5, 2021

Conventional loans have a few basic property standards, but no in-depth home condition requirements. You likely want a home inspection anyway.

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Keeping Current Matters

JANUARY 26, 2021

It’s also a different step in the process from a home inspection , which assesses the condition of the home before you finalize the transaction. Home Inspection. Here’s the key difference between an appraisal and an inspection. The post What’s the Difference between an Appraisal and a Home Inspection? Home Appraisal.

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Housing Wire

NOVEMBER 8, 2023

With these tools, lenders are poised to see “shorter loan cycle times, lower consumer costs, and an improved borrower experience,” the company said in a statement. During the last refi boom, some appraisers were scheduling inspections as far as four to six weeks out, which was slowing down the entire loan transaction.

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Housing Wire

JANUARY 31, 2021

Clear Capital’s suite of field valuations, real estate analytics, and platform technology solutions help servicers prevent fraud, check the accuracy of completed appraisals and broker price opinions (BPOs), conduct portfolio valuation analysis and updates, and help with disposition analysis on distressed loans.

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Maximum Exposure Real Estate

MARCH 12, 2023

What Are VA Loan Home Inspection Requirements Are you wondering about the VA loan inspection requirements? There are appraisal and inspection guidelines that VA inspectors must follow. Did you know that the homes you’re looking at might not be acceptable to some lenders? It’s true.

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HomeLight

JANUARY 12, 2024

If you’ve been shopping for a home, you’ve likely come across the term “loan contingency,” and you may be considering including this clause in your purchase offer. Or perhaps you’ve already made a loan-contingent offer, and you’re wondering about contingency removal. What is a loan contingency?

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Realty Biz

OCTOBER 21, 2023

From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Additionally, they should assess their creditworthiness and financial stability, as lenders will often consider these factors when approving loan applications.

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Housing Wire

DECEMBER 8, 2023

Educate your clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Make sure your buyers understand the difference between being prequalified, preapproved and loan-committed.

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Realty Biz

JANUARY 7, 2021

The fact is that another round of negotiations is frequently needed after the house is professionally inspected. Nor should the inspector be involved in a second round of negotiations after the inspection. Risks of Waiving a Home Inspection. Even a strong sellers’ market is not a good reason to waive a home inspection.

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Realty Biz

DECEMBER 31, 2020

How to Prepare For a Home Inspection. Before you can prepare for your move, you need to get ready for the home inspections. Preparing for a home inspection will make sure your home sale proceeds as smoothly as possible. Lots of home sellers ask real estate agents how they can prepare for the home inspection.

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Housing Wire

SEPTEMBER 19, 2023

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? An appraisal ensures that the loan being offered matches the property’s value. The appraiser inspects the property An appraiser visits the property and conducts a visual inspection of the home’s condition.

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RIS Media

APRIL 14, 2022

Your mortgage lender might not require you to have a house inspected before you buy, but it’s probably still a good idea. What Is a Home Inspection? A home inspection is designed to protect a buyer. Do You Have to Get a Home Inspection and an Appraisal? Buyers often assume that a home inspection is required.

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Housing Wire

MARCH 3, 2023

The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement. The company claims UDC will also provide flexibility, as eligible loans can be transferred to the agency, along with the loan program that meets a borrower’s needs.

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Housing Wire

AUGUST 9, 2022

Investors — Shorten loan package inspection to less than one day and increase loans per month per customer by up to 20,000. #3. Product Fast Facts. #1. Lenders — Boost productivity by 30% and increase the average customer ROI by 400%. #2. Get More Info.

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Louisville Homes

OCTOBER 13, 2022

One reason why closing on a home may take some time is the home inspection. So, what is a home inspection, and when and why is it necessary? Home Inspection 101. So what exactly is a home inspection? So what exactly is a home inspection? The home inspection will take several hours to complete.

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Realtor.com

FEBRUARY 5, 2021

But before the sale is closed, you will need to clear several hurdles, one of which may be a termite inspection. While only a few states require it—and there is no federal law that mandates a termite inspection when buying a home—you might want to think twice before skipping it. Your lender may require it.

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Housing Wire

MAY 9, 2023

“For example, there could be an appraiser already visiting a neighborhood for an inspection on a given day that would also be able to pick up an extra assignment in that area and get the appraisal done quickly,” the company said. The company launched the Appraisal Marketplace on Tuesday.

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Housing Wire

MARCH 8, 2023

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers.

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Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

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FHA loan Renovation Equity Loans 370

Housing Wire

MARCH 11, 2021

According to the FHFA, the extended flexibilities include: Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings. In a statement issued on Feb.

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Housing Wire

DECEMBER 11, 2020

We are extending the temporary flexibilities related to verbal verifications of employment and power of attorney to loans with application dates on or before Jan. Are borrower-assisted inspections here to stay? The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec.

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Realtor.com

DECEMBER 29, 2020

My smooth path to homeownership suddenly became rocky when the inspection report came back with a big fat failure on it. After a few calls with my real estate agent (who, at that point, had become more of a home-buying therapist), I learned that a bad inspection isn’t that rare. Most inspection issues are small.

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HomeLight

AUGUST 23, 2021

Now it’s time to start moving through the process of finalizing the sale, which includes getting an inspection of the property. While they aren’t necessarily required by your mortgage lender, a home inspection is an important part of your home purchase. But how long will this inspection take? What is a home inspection?

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Housing Wire

JULY 11, 2022

Black Knight this week launched a tool that enables lenders to compare loan estimates and closing disclosures from closed loans to minimize expenses in a higher rate environment. billion , says its AIP is a framework for analyzing data from multiple data sets across the loan life cycle.

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Housing Wire

JUNE 22, 2023

In the letter , addressed to FHFA Director Sandra Thompson , the associations ask for “reasonable” building inspection requirements for aging infrastructure. Any changes to Enterprise condo project or loan approval requirements should be subject to a public comment period of at least 60 days prior to adoption,” the letter states.

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Realty Biz

SEPTEMBER 18, 2021

Hard money loans can be easier to get, but they can be expensive. You should instinctively have a good idea of the property value after a brief inspection. Hard money lenders can’t physically inspect the property themselves nor do they have a solid knowledge of local property values.

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Housing Wire

NOVEMBER 30, 2023

” For example, the document says if requested by the borrower or mortgagee to determine if a 203(k) loan is feasible, the consultant may charge an additional fee of $375 to prepare a feasible study. Changes also include increases to the maximum amount for other allowable fees, including for draw inspection, which is $375.

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Inspection Finance Renovation Loans 442

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. HW: What are the risk management challenges for REO assets?

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. An offer comes in at 5 p.m.

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Redfin

OCTOBER 10, 2023

In this dynamic setting, the process of home inspection becomes a journey through layers of historical significance and modern innovation that define a property. So, let’s delve into the world of home inspections in the Empire State. Why should you get a home inspection in New York? Well testing for certain loans.

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Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. However, they have several more pressing priorities when it comes to what they’re investing in.

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Housing Wire

JUNE 27, 2023

.” The integration allows Reggora’s appraisal management workflow and related data points to be transferred to Lender Toolkit’s AI Underwriter, its automated underwriting system that is capable of processing loans in 90 seconds or less.

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Housing Wire

FEBRUARY 21, 2023

Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork. It should keep the consumer happy and minimize the cost of originating the loan. Here’s a quick rundown of how this modernization can support your success. Technology makes this possible as it builds new efficiencies.

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HomeLight

MARCH 31, 2021

The home inspections process is often one of the greatest obstacles to closing a swift sale. According to the National Association of Realtors (NAR), home inspection issues were responsible for 11% of delayed contracts and 9% of contract terminations in 2021. Pre-listing home inspections are just like standard inspections.

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Housing Wire

JANUARY 14, 2021

Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings. According to the release, the extended flexibilities include-.

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