The Appraisal Blog

The mortgage finance market is contracting ... it is going to be a bumpy ride!

https://www.housingwire.com/articles/new-american-funding-no-longer-in-growth-mode-lays-off-240/

Traditional FICO scores don't work for some potential home buyers when evaluating their credit worthiness.  As a result FNMA/FHLMC will now allow alternative forms of credit called the FICO 10T and VantageScore 4.0 which take things like rent, utilities and telecom payments into consideration.



https://www.marketwatch.com/story/fannie-mae-freddie-mac-to-use-alternative-credit-scores-what-that-means-for-potential-homebuyers-11666643196

Back in 2008 lenders were collapsing on a seemingly daily basis.  There was even an on-line counter tracking their demise.  Let's hope this is not a sign of things to come... 



https://www.housingwire.com/articles/finance-of-america-mortgage-announces-shut-down%EF%BF%BC/

Alternative valuation products have been around for as long as I have been appraising ... 20 years.  But they are just now becoming more accepted in the lending world.  The long term impact of these products is yet to be seen ...



https://www.housingwire.com/articles/50143-expert-alternative-valuations-could-drive-up-consumer-costs/?fbclid=IwAR1B98z7Oo154l0QPM5AmYzRkDcajbF9WlV7BduFkiWvngR_8zSaUBlaGxg

I've been on the VA fee panel for almost 10 years now and pride myself on being able to help veterans refinance their existing mortgages or get fair prices on their new home purchase.  Changes to the VA program will now allow veterans to by more house without an increased down payment!  Thank you for your service!

https://www.military.com/money/va-loans/new-law-allows-you-get-bigger-va-home-loan-without-down-payment.html