Let’s Talk Appraisals – Or Religion – Or Politics……

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Michael Nelson - Equity Prime, LLC
What You Need to Know About Home Appraisals – Geoff Williams – US News

We all have heard the age-old adage – never talk religion or politics with customers, the date you want to impress, or the in-laws.  Well, we might as well add appraisals into the forbidden discussion category.  As a mortgage lender, this is a tough topic.  Regulations are very clear on the interaction allowed between a loan officer and an appraiser.  Which is to say a loan officer and an appraiser can have no interaction at all.

 

 

Appraisals are a hot topic – lots of emotion and added stress!

Michael Nelson - Equity Prime
What You Should Know About the Appraisal Process – Michele Lerner – Realtor.com

I don’t take issue with the regulations for all the obvious reasons.  History has certainly taught us that relationships between loan officer and appraiser are ill-advised.  But, I do suggest regulation has taken the pendulum too far to the other side.  Scarcity of appraisers and the time required to get an appraisal have made the 30 day close very hard to hit.  Especially in a TRID environment and refinance transactions.  While, I understand that each state is different, I can tell you the appraisal situation in Colorado is especially troublesome.

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Kelly Weaver Photography – Great Local Business

It has been a while since I put up a post on local businesses that are great at their craft.  I have been busy in this crazy mortgage and financial market.  I suppose being busy is not a bad thing. I had the pleasure of working with Kelly at Kelly Weaver …

Click for moreKelly Weaver Photography – Great Local Business

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