Are you the type of person that has to write everything down? What happens when it's not convenient to write such as when you are driiving, someone calls you and says call me at this number 832-541-3232 which is not the one that is recorded on you cell. Do you stop in heavy traffic to jot it down or do you make up a story in order to remember the number, such as: First the prefix is easy to remember so that part is memory banked, next you make a quick scenario; I see a bee HIVE, with FOUR DOORS, so I RUN away, I see a huge apple TREE, next to the ZOO, I climb the TREE, and enjoy the ZOO from above.
That's it. That's the number in the story. Every number 0 to 9 has a synonym which is easier to remember as follows:
1-Run
2-Zoo
3-Tree
4-Door
5-Hive
6-Sick
7-Heaven
8-Gate
9-Wine
Memorize this and you will never forget a number again.
Happy Memories from Lupe Davila, ABR,CRS, GRI. Prudential Gary Greene Realtors. I know all the facts about Buying and Selling homes. They are in my Memory bank. Just ask me.
Thx. Lupe
Lupe Davila's Blog
(832) 368-6422
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9000 Forest Crossing, The Woodlands, TX 77381
Phone: (281) 367-3531 Fax: (281) 367-7027
Hello There, My name is Lupe A. Davila, Realtor ABR,CRS,GRI. My career in this industry has been long and varied. The experience I bring to the table includes, Corporate Marketing, Corporate relocation, Teaching, and over 30 years of Real Estates Sales in the Houston Market and in particular in The Woodlands and North Houston area.
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http://money.cnn.com/2009/05/29/real_estate/tax_credit_as_downpayment/index.htm?postversion=2009052914
HUD tweaked stimulus tax incentive so first-time home buyers may get instant assistance with down payment
HUD tweaked stimulus tax incentive so first-time home buyers may get instant assistance with down payment
Hereâ??s the updated information from this mornings share on the new Appraisal Compliance Rules.
Below are the main bullets around the new appraisal compliance rules. Please share this information in your sales meetings to answer any questions around these new procedures. There are NO new guidelines in place that prohibit the agents from providing an appraisal packet to the appraiser & meeting at the property to discuss details of the home (in Wells, Fannie or Freddie guidelines). Doing this upfront will continue to alleviate appraisal issues. Having specific property details supplied after a low appraisal has come in, creates a much larger obstacle and extends turn times for getting them resolved. When the appraisers make appointments to come out to the property, they are contacting the listing agent and we should make it a priority to meet them there or provide info to them ahead of time with all that is surrounding us now with appraisals & property values. Below is probably more information than you need, but I wanted to fully communicate the bankâ??s position and where our hands are tied.
Overview:
The Home Value Code of Conduct (HVCC), which has been adopted by both Freddie Mac and Fannie Mae, requires lenders to establish appraisal controls to ensure appraiser independence.
Effective with applications dated on or after Friday, May 01, 2009. Applies to all conventional conforming and non-conforming loans that require an appraisal. Does not apply to Government loans
Requirements:
The HVCC prohibits any substantive communication with the appraiser or appraisal management company (AMC) (communications that relate to or have an impact on valuation) by anyone whose compensation is based on loan production or anyone who reports ultimately to a person not independent of the loan production staff and process
This includes:
Sales staff and their managers
Loan production staff and their managers
Loan brokers
Other individuals who receive compensation based on loan production
The HVCC prohibits anyone whose compensation is based on loan production or anyone who reports ultimately to a person not independent of the loan production staff and process from influencing the structure of an appraiser panel.
The HVCC prohibits removal of an appraiser from an appraisal panel without first providing the appraiser with prompt written notice of the removal. This notice must include evidence of the violation, unprofessional behavior or other substantive administrative reason for the removal.
The HVCC prohibits communication to the appraiser or appraisal management company of any information related to the proposed loan transaction (e.g. purchase price, loan amount, LTV, OEV, estimated value) as part of any appraisal process; however, the Code does include a provision allowing the fully executed complete purchase agreement to be provided to the appraiser as part of the appraisal assignment.
The HVCC prohibits the ordering of subsequent valuations (e.g. new appraisals or valuation products) outside of appraisals or other valuations ordered as part of standard published underwriting or quality assurance processes.
The HVCC requires lenders to establish processes for reporting of undue influence.
The HVCC requires that quality assurance reviews identify and report instances of undue influence.
The HVCC requires lenders to establish a process to refer any instances in which the lender has a reasonable basis to believe an appraiser or appraisal management company is violating applicable laws, or engaging in unethical behavior to the applicable State Certifying or licensing agency.
The HVCC requires lenders to certify, rep and warrant that the appraisal report connected to a loan was obtained in a manner in compliance with the code.
The HVCC requires that the borrower is provided a copy of any appraisal report concerning the subject property upon completion at no additional cost to the borrower and no less than three business days prior to the closing of the loan. The Code does provide for a provision for the borrower to waive this three-day requirement.
Below are the main bullets around the new appraisal compliance rules. Please share this information in your sales meetings to answer any questions around these new procedures. There are NO new guidelines in place that prohibit the agents from providing an appraisal packet to the appraiser & meeting at the property to discuss details of the home (in Wells, Fannie or Freddie guidelines). Doing this upfront will continue to alleviate appraisal issues. Having specific property details supplied after a low appraisal has come in, creates a much larger obstacle and extends turn times for getting them resolved. When the appraisers make appointments to come out to the property, they are contacting the listing agent and we should make it a priority to meet them there or provide info to them ahead of time with all that is surrounding us now with appraisals & property values. Below is probably more information than you need, but I wanted to fully communicate the bankâ??s position and where our hands are tied.
Overview:
The Home Value Code of Conduct (HVCC), which has been adopted by both Freddie Mac and Fannie Mae, requires lenders to establish appraisal controls to ensure appraiser independence.
Effective with applications dated on or after Friday, May 01, 2009. Applies to all conventional conforming and non-conforming loans that require an appraisal. Does not apply to Government loans
Requirements:
The HVCC prohibits any substantive communication with the appraiser or appraisal management company (AMC) (communications that relate to or have an impact on valuation) by anyone whose compensation is based on loan production or anyone who reports ultimately to a person not independent of the loan production staff and process
This includes:
Sales staff and their managers
Loan production staff and their managers
Loan brokers
Other individuals who receive compensation based on loan production
The HVCC prohibits anyone whose compensation is based on loan production or anyone who reports ultimately to a person not independent of the loan production staff and process from influencing the structure of an appraiser panel.
The HVCC prohibits removal of an appraiser from an appraisal panel without first providing the appraiser with prompt written notice of the removal. This notice must include evidence of the violation, unprofessional behavior or other substantive administrative reason for the removal.
The HVCC prohibits communication to the appraiser or appraisal management company of any information related to the proposed loan transaction (e.g. purchase price, loan amount, LTV, OEV, estimated value) as part of any appraisal process; however, the Code does include a provision allowing the fully executed complete purchase agreement to be provided to the appraiser as part of the appraisal assignment.
The HVCC prohibits the ordering of subsequent valuations (e.g. new appraisals or valuation products) outside of appraisals or other valuations ordered as part of standard published underwriting or quality assurance processes.
The HVCC requires lenders to establish processes for reporting of undue influence.
The HVCC requires that quality assurance reviews identify and report instances of undue influence.
The HVCC requires lenders to establish a process to refer any instances in which the lender has a reasonable basis to believe an appraiser or appraisal management company is violating applicable laws, or engaging in unethical behavior to the applicable State Certifying or licensing agency.
The HVCC requires lenders to certify, rep and warrant that the appraisal report connected to a loan was obtained in a manner in compliance with the code.
The HVCC requires that the borrower is provided a copy of any appraisal report concerning the subject property upon completion at no additional cost to the borrower and no less than three business days prior to the closing of the loan. The Code does provide for a provision for the borrower to waive this three-day requirement.
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