Thank you to the many who have already renewed their VaCAP membership. For those of you who have not renewed, (you know who you are) please do so now.
Our membership renewal process is the same as it has been for the past several years. It has worked well for us and is both cost effective and efficient, allowing VaCAP to utilize our resources more efficiently. For those who are not familiar with the process. Here it is in a nutshell:
Complete the joint membership / renewal application on our website. Once you click the submit button, a donation payment screen will appear from PayPal. If you have a PayPal account, you can log in and use any payment method you have on file. If you do not have a PayPal account, just enter your credit card or debit card information. You will have to manually input the amount of your payment/ donation. It’s that simple!
Please note, if you do not make the payment at the time of application completion, you will have to complete the application again in order to access the payment link.
The comment period ends on September 8th on the proposed changed the Qualified Mortgage Rules. Every appraiser needs to support the seasoning of mortgages before the sale to Fannie and Freddie. This is beneficial to a strong stable housing market. This will bring private investors back into the market and increase competition. Loan quality will increase and lenders will seek quality appraisals.
To read the proposed changes and comment, click here.
Thank you for being part of VaCAP!