Index
One of the nicer aspects of my job is that I get to check out a fairly wide geographic area in finer detail than I have up until now. I now realize that when I did fee appraisals, the range … Continue reading
Tag Archives: appraising
MetLife Exiting Mortgages
Excerpt: MetLife Inc., the life insurer that’s eliminating most of the 4,300 jobs at its mortgage unit and selling deposits to reduce federal oversight, is finding it harder to escape risk from home loans. The loan-servicing operation is bracing itself … Continue reading
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Tagged appraising, lenders, lending, MetLife, real estate
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Home Appraiser Blacklists Probed
Home appraiser blacklists probed Excerpt: Clay Gregory is a Valley home appraiser who is spending a lot of time at home these day, but it’s not by choice. “I was put in a position where they pretty much demanded information … Continue reading
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Tagged appraising, chase, lenders, lending, real estate
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FDIC Filing MBS Lawsuits Based on “Appraisal Defects”
FDIC Filing MBS Lawsuits Based on Appraisal Defects as Determined by AVMs By Peter Christensen Excerpt: The FDIC’s complaint in this case is virtually identical to the dozens of other MBS complaints against mortgage originators and aggregators filed by pension … Continue reading
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Tagged appraising
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Judge signs $25 billion foreclosure settlement
Excerpt: The agreement with the 49 state attorneys general, the Justice Department and the Department of Housing and Urban Development settles a wide-range of foreclosure abuses from improperly prepared affidavits to allegedly forged notarization signatures and botched modification attempts. The … Continue reading
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Tagged appraising, fraud, lenders, lending, RE Fraud
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AMC Tax Evasion and RESPA Violations
The National Association of Independent Housing Professionals (NAIHP) recently announced that many Appraisal Management Companies (AMC’s) are operating without authority in most states and have failed to pay state income taxes. No surprise here. I’ve written extensively about the mendacity … Continue reading
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Tagged appraising, RE Fraud
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Really, Nothing Has Changed
Risk of employment or income fraud on mortgages increased 8.8% in the third quarter from the previous quarter and 50% from third quarter 2009, according to research firm Interthinx. Its general Mortgage Fraud Risk Index remained virtually unchanged for the … Continue reading
10 million More Mortgages Set to Default
Excerpt: “Roughly 10.4 million mortgages, or one in five outstanding home loans in the U.S., will likely default if Congress refuses to implement new policy changes to prevent and sell more foreclosures, according to analyst Laurie Goodman from Amherst Securities … Continue reading
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Tagged appraising, mortgage, real estate
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Fraud in Real Estate – “Hide the Concessions”
Here’s an example of an illegal practice that still goes on after everything that has happened in the housing market. This condo is listed for $579,000 in Millbrae, CA. There’s a nice little video that tells you that if you … Continue reading
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Tagged appraising, RE Fraud
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Neutral Valuation
Written by Jonathan J. Miller, CRE CRP Excerpt: “As a real estate appraiser for the past 25 years, I’ve always viewed my role as a provider of a neutral valuation benchmark for clients to become empowered to make more informed … Continue reading
A Good Idea
Government Should Convert REOs to Rentals Excerpt: “The government’s plan to dispose of the more than 250,000 foreclosed homes in its portfolio needs to include women and minority business owners and skew toward converting the properties to short-term rentals, according … Continue reading
Mortgage rates fall to lowest level since 1950s
Excerpt: …But few Americans can take advantage of the rates to refinance or buy a home. The average rate for a 30-year fixed mortgage fell to 4.12%, from 4.22%, Freddie Mac said Thursday. That’s the lowest level on records dating … Continue reading
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Tagged appraising
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Bank of America will eliminate 30,000 jobs
Excerpt: “Bank of America is slashing 30,000 jobs as part of an effort to reverse a crisis of confidence among investors. It’s the largest single job reduction by a U.S. company this year.” “What CEO Brian Moynihan is trying to … Continue reading
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Tagged appraising, mortgage, real estate
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National Appraisal Firms Said to Roadblock Home Mortgages
Excerpt: “The trouble with appraisal management companies is that many of the appraisers they contract are not local and not familiar with the area, said Claudine Claus, president & CEO of Home Financing Center, one of the largest independent, privately-owned … Continue reading
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Tagged appraising
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Appraisal Management Companies Create More Problems Than They Solve
From American Banker, Excerpt: “Imagine needing a medical doctor and having to go through an intermediary who will decide which doctor you may visit, and that doctor is chosen primarily on his fee charged, not expertise.” “Consumers are paying more … Continue reading
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Tagged AMCs, appraising
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