Important and sometimes devastating recent event in the real estate market:
By Marcie Geffner• Bankrate.com The new “code of conduct” that was supposed to protect lenders and borrowers from faulty appraisals has caused higher costs, delays and considerable chaos in home sales and loan refinances.
Mortgage brokers, appraisers and real estate agents are up in arms over the new rules, which dictate how lenders select an appraiser when they originate certain home loans. Few borrowers care much, if at all, about how appraisers are hired or paid, but those borrowers whose loans have been delayed or derailed due to the new rules may take a very keen interest, indeed.
Read the whole article here.
For more information on buying, selling or leasing commercial or residential property anywhere in the world, contact Nicole Tucker, licensed agent with Keller Williams, Dallas Preston Road office at 972-992-8204 or visit my website at http://www.NicoleRE.com.
Nicole Tucker ~ Making Real Estate Real Easy!
Filed under: Home Tips, Keller Williams, Refinance, buying, mortgage, real estate | Tagged: appraisal, Bankrate.com, home sales, http://www.NicoleRE.com, HVCC, Keller Williams, Keller Williams Dallas Preston Road, loan refinance, New Appraisal Code Causes Chaos, Nicole Tucker, NicoleRE
