We love the comments section. Today we love it even more. Escrowdude weighed in with a faint recollection. Not so faint to the Google.
|TOP CEO GOLFERS|
My goodness. NASCAR Teddy is a good golfer. Not so much in the board room. The Source of Title blog was on fire this morning. I guess he saw the article in the Denver Post too. Come on gentle readers, where’s that petition?
The Connecticut Law Tribune has a great article on the situation as a whole. There’s one paragraph that is probably the most telling of all.
â€¢ Lenders have significantly tightened their appraisal process and scrutiny, making it harder to get mortgages approved. For example, at Bank of America, the loan officers writing the loan are no longer allowed to have any contact at all with the appraiser doing the appraisal, presumably out of fear that the loan officer would push to for a too-high appraisal just to close the loan. But this also means that legitimate errors in appraisals cannot be addressed in as quick a manner. In addition, the rumor is that many lenders are receiving appraisals and then cutting the value even more depending upon whether the property is in a town with â€œdeclining market values.â€ This means deals between buyers and sellers have to be renegotiatedâ€”sometimes more than onceâ€”and that puts increased stress on all parties in the transaction.
I’d heard lenders were doing that now too. LO’s should have never been allowed to bully appraisers the way they did.Â How do you answer to “If you don’t appraise this at XX you won’t get any more business from the Bank of XYZ”?Â Yeah, as an appraiser you can say “No” but at what point do you end up being the only guy with no clients?Â So while I understand the bank’s overcorrecting, because that’s what it is, I understand how we got here too.Â I gave up my stamp so I wouldn’t be asked to sign off people who didn’t understand or shouldn’t have signed the loans they did.Â But I had a day job.
I don’t know if I mentioned that I had a termite guy do a reinspection here.Â This place had subterranean termites when I went into contract on it.Â They were taken care of as part of the deal.Â I had a recheck done to be sure the little bastards stayed out of the house.Â One apricot tree has already fallen over and a second is right behind it.Â I didn’t need the house third in line.Â It wasn’t, but the guy pointed out to me that the ducts on the heater had fallen off in a couple of places.Â So today I had an HVAC contractor come by and fix it and give me an estimate for air conditioning, because we aren’t going through that again.Â Three ducts were completely disconnected and the Y under the house had fallen down and disconnected.Â All better now.
Now I get to ride out to my lifer listing and see if somebody really did break in again.Â I’m sure they did.