03/17/2024
I am commercial loan broker, I have applied my client for an SBA 7a Loan, and we are near closing. The appraisal report is done, but the banker with whom I communicate, said to me that the appraisal is only available after closing. Aren't they allowed to send it, or he is doing it on purpose so we don't go with another lender?
10/09/2022
Does the OCC or other regulatory agencies specifically allow or frown on borrowers taking photos for real estate inspections if the lender requests these through the Verisite Firewall application? The Verisite mobile app can geocode the photos for location confirmation but having the borrower involved may be an issue. Otherwise this could be a way to expedite the processing on some loans.
10/09/2022
If we disclose a cost for an Automated Valuation Model/Investment Valuation Model (AVM/IVM) or basic evaluation on the Loan Estimate but the valuation amount comes in low and does not support loan request, if the borrower then requests a full appraisal in hopes of a higher estimated value, are we able to send a new LE with the additional appraisal cost since the borrower requested the full appraisal or does the financial institution need to "eat" the additional appraisal fee because we had already disclosed a lower fee amount?
08/04/2019
Are the Interagency Guidelines a “Must” follow set of rules that apply to all real estate transactions?
07/28/2019
I have been told the recent $500,000 threshold increase for real estate evaluations applies ONLY to commercial property. Is that correct?
07/21/2019
Should my appraiser be including an “As Is” value in all appraisal reports for Federally Related Transactions?
07/14/2019
For renewal transactions, what is the threshold limit for evaluations?
07/07/2019
Does the $1,000,000 business loan threshold for evaluations apply to farmland?
06/30/2019
Are there any certain items I should be reviewing for if an appraiser only completes one approach to value in an appraisal report?
03/03/2019
I have questions that bother me when I dealing with a commercial real estate transaction where a residential property is taken as collateral. When does the Notice of Right to Receive a copy of an Appraisal apply? I have seen many different concepts in the internet regarding to dwelling:
- A 1-4 residential property which is the borrower or guarantor's principal residence;
- Any 1-4 residential property which is the borrower's principal residence, and it is going to be refinanced; or
- Any 1-4 residential property taken as collateral in the commercial real estate transaction.
I would like somebody clarify which is in compliance. I am in Florida if that matters.