Appraisals

Linkage: Moneyball Housing Analogy

Today’s linkfest on monetary and stock outlook, latest mortgage guidelines, and Wall Street ice cream flavors. -Q4 Monetary Policy Preview: US, Europe, UK, Japan (TradingFloor) -Can The S&P 500 Stay Above 1175-1195 Resistance? (TheBigPicture) -Moneyball Housing Analogy: Runs = # of Sales (Matrix) -Top 10 Ben & Jerry’s Wall Street Flavors (ReformedBroker) -Mortgage Lenders Get

How Appraisal Regs Hurt Consumers

I’m not the only loan agent who’s gotten a crap appraisal back during this August refi boom. So I’ll share a story about how regulations make the lending process so difficult and costly for consumers. I got a refinance appraisal Friday on a single family home a client bought last year for $770,000. The assigned

Appraisal Wars

I swear that I did not start any appraisal controversies in the press last week when I brought up valuation problems, but there was a coincidental flurry in the press about the subject. Maybe it was the appearance that NAR keeps blaming “bad appraisals” for the lack of appreciation in the housing market. Regardless, the

Goldman Buying Jumbo Mortgages. More On Appraisals.

Per the FDIC, commercial banks and savings institutions insured by them “reported an aggregate profit of $29 billion in the first quarter of 2011, an $11.6 billion improvement (66.5%) from the $17.4 billion in net income the industry reported in 1Q2010. This is the seventh consecutive quarter of year-over-year earnings growth, although it is the

Goldman Buying Jumbo Mortgages. More On Appraisals.

Per the FDIC, commercial banks and savings institutions insured by them “reported an aggregate profit of $29 billion in the first quarter of 2011, an $11.6 billion improvement (66.5%) from the $17.4 billion in net income the industry reported in 1Q2010. This is the seventh consecutive quarter of year-over-year earnings growth, although it is the

Are Appraisal Regs Ruining Appraisal Quality?

The latest Dodd Frank turmoil is over appraisers. Under the Act, lenders are now required to pay “customary and reasonable” fees to appraisers. What the heck does that mean? Can you imagine telling your 15-yr old that her allowance would be “customary and reasonable”? How about telling a car salesman that you would pay them

Clear Capital: Double Dip In U.S. Housing (CHARTS)

Property valuation firm Clear Capital released their April 2011 home price report today showing national home prices are 0.7% below prior lows experienced in March 2009. They’re calling it a double dip. Below are key charts, and a link to the full report. Clear Capital knows a thing or two about valuation. Many Wall Street