I don’t mean to be querulous, but I have to complain about the debt ceiling nonsense again. And actually, I had no idea what “querulous” meant until it popped up […]
MEDIAN = MISLEADING Chevron is moving its entire headquarters complex from California to the much more business-friendly Houston, TX area. I happen to know a lot of Chevron employees – […]
Collateral Underwriter (CU) is a program developed by Fannie Mae to assess risk. It launched at the beginning of 2015. The CU program helps lenders assess the risk factors associated […]
“The story you are about to hear is true; only the names have been changed to protect the innocent.” That was the opening line from the famous 1960s TV series […]
We have had numerous deals almost die or come close to dying over the years – solely because our appraisers could not find adequate rental comp data. There are several […]
When I was a kid growing up in Southwest Minnesota, everyone had basements. Basements initially served as “root cellars” to store potatoes and carrots all winter (which we actually did) […]
If a 2,000 square foot house sells for $800,000, the price per square foot is $400. So, if a nearby house is 2,200 square feet, it should be worth an […]
This is another reminder that condos are not distinguishable from PUDs (Planned Unit Development units) by appearance alone. Attached side-by-side two-story units that all touch the ground can be zoned “CONDO” or “PUD.” Complexes with units that “float” (that do not touch the ground) will almost always be zoned condo (PUDs must touch the ground).
We can close conforming (Fannie/Freddie) loans in 12 CALENDAR days – easily – IF we get a “Property Inspection Waiver,” aka PIW aka Appraisal Waiver. Savvy agents know this – […]
I lived in the same neighborhood for over 20 years and did hundreds of loans within the area – so I knew every nuance of the area. As a former […]
“I knew a guy who sold his house for $100,000 under the market value because he felt like it…” said nobody. Ever. My point is that no seller is ever […]
Desktop Appraisals Are Coming! An appraiser recently charged us $2,000 for a basic appraisal in suburbia with a slightly larger lot and a moderately short time frame – because we […]
Here are a few things that really scare appraisers. 1. Unusual Properties. Unusual properties include those with acreages, odd structures (e.g. a round house), multiple dwellings on one lot, adverse […]
Why We Refused Refinances In 2020 This is a quick aside but a reminder that we stopped accepting refinance applications in 2020. It cost us millions in lost revenue but […]
We are committed to reinventing the mortgage lending model in order to provide outstanding service, low rates, and some of the fastest closing times in the industry.
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