MortgageOrb.com just released this article http://ht.ly/2aIrJ indicating that Wells Fargo will be closing its financial stores and exiting the non-prime lending arena. What is most striking is not the lack of loans offered (since less than 2% of loans were originated in the Wells Fargo Stores) -
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07/13/2010
A recent article from Mortgage Orb referenced the latest Fannie Mae letter to lenders, stating that "appraisers must have the "requisite knowledge" to perform a professional-quality appraisal for the specific geographic location and particular property types" So rather than bring an appraiser fro
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07/08/2010
I came across this at one of my inspections the other day for a recent foreclosure. The home wasn't SO bad...but the pool.....can you say "yiiiccckkk!!" ? What impact on value does a pool in this condition have for prospective buyers? Would the site of this turn off a buyer beyond the "how mu
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06/25/2010
I recently appraised a home for foreclosure. It was a really cute house, remodeled with Ikea style cabinets, granite counters, premium light fixtures, etc. Like many foreclosures in my market, the appliances were removed, many of the custom ceiling fans now gone, and the space over the fireplac
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06/24/2010
I read an article today on the Mortgage Fraud Blog by Rachel Dollar, which detailed how the state of Florida is clamping down on mortgage broker applications in the state - read the whole article here > http://ht.ly/1Zdw1 The article stated: Beginning October 1, 2010, Florida will begin participa
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06/16/2010
It struck me once again today. My workload of appraisal files reaches the end, coming down to the last 2 reports. I am once again thinking, "Ok - tomorrow, I will start my marketing campaign to {INSERT NICHE HERE} to try to shift my workflow into more stable avenues!" And then it happens.....
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06/15/2010
I read a really interesting article today from www.AppraisalLawBlog.com You can read the whole article at http://www.appraiserlawblog.com/2010/04/single-biggest-threat-to-appraisers.html - but here are the highlights: The single biggest liability threat to both residential and commercial app
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05/13/2010
This is a great video from CBS' 60 Minutes about the growing trend of people walking away from their home and mortgage, even though they can afford to stay - meaning they have enough income to stay. Watch CBS News Videos Online A couple of things which caught my eye about this video, is the strug
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05/12/2010
Great commentary! What a well written piece about today's housing market!! This is worth the few minutes to read and listen to the videos!!Here is a great question for you…this is the very question that I ask myself..and all of our Harris Real Estate University coaching students…as often as pos
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05/12/2010
House unanimously passes AMC legislation « Florida Realtors® Legislative http://ow.ly/1DBox AMCs have to register with the state! This should be interesting to see how this pans out now! So can the state take licensing action against an AMC ? Will AMCs be treated as though they are larger appr
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04/27/2010
