Home appraisals are an important step for lenders to finalize the loan process. Banks will not approve a mortgage that surpasses the actual value of the property. This is the reason it is significant to get the borrower’s property evaluated, before giving final approval on...
Appraisal– it is a word that strikes fear in lenders, home sellers, borrowers, real estate agents, and anyone else in the mix. There is no denying that it can give loan origination professionals a few heart palpitations from time to time. Appraisals, however, are a...
Appraisal changes for measuring, calculating, and reporting gross living area for Fannie Mae loans went into effect on April 1st, 2022. As a national appraisal management company, Arivs is committed to staying up to date on the latest updates and trends, so that we can...
The success of an appraiser is dependent on the reputation of a competent professional. As appraisers, you need to be diligent and ensure you avoid certain appraisal violations that are quite common. At Arivs, our national appraisal management company is understanding of the mistakes that...
The uptick in mortgage activity has inspired many lenders who have traditionally managed their appraisal process to look at partnering with an appraisal management company (AMC). By working alongside an AMC, it allows lenders to focus on their core competencies, which is crucial in our...
As we’ve discussed in previous articles, AMC’s (Appraisal Management Companies) work closely with lenders and appraisers to manage the ordering, tracking, quality control, and delivery of appraisal reports. AMC’s have been around since the 1960s, but their reach was limited, compared to today. Back in...
Appraisal Management and valuation is major consideration for any business that is looking to purchase or sell property. Typically speaking, the mortgage lending industry uses appraisal management companies to ensure they receive appraisals compliant with USPAP (Uniform Standards of Professional Appraisal Practice), as well as...
Appraisal management companies serve a prominent role in the real estate world. Appraisal management companies have been rising as a result of recent financial changes. These companies now exist as an integral part of the lending system for those who require property valuations as a...