The appraisal industry is opposed to a legislative proposal that would make changes to how appraisals are procured for the VA home loan program. The appraisal measure is one of the key provisions in H.R. 299, the Blue Water Navy Vietnam Veterans Act, which the House of Representatives passed by a vote of 382-0 in June. The bill is now pending in the Senate Committee on Veterans’ Affairs. The Blue Water Act would clarify presumptions relating to veterans’ exposure to herbicide, such as Agent Orange, during the Vietnam era and disability claims. The bill also proposes changes to the VA loan fee structure, including a proposed hike to the fees veterans, servicemembers and their spouses pay to obtain a VA-guaranteed home loan. The appraisal provision in H.R. 299 would allow VA appraisers to engage a third party to perform property inspections on their behalf. The provision addresses a problem with ...
Arch wrote $19.94 billion of traditional policies in the second quarter, ranking first overall, according to exclusive figures compiled by Inside Mortgage Finance. Radian was second with $16.36 billion…
Geneva Financial, Tempe, AZ, is offering loan officer recruits a compensation package of 250 basis points or higher, attracting scores of resumes as well as the ire of some of its competitors.
A report released last week by the Treasury Department encouraged broader use of automated appraisals and recommended that Congress help push the technology forward. Not surprisingly, the appraisal industry is urging caution.
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