Freddie Mac has an Enhanced Sweat Equity Program where borrowers (aka purchasers) can purchase a home and use sweat equity as a downpayment and closing costs. No money to the table! Here’s what’s allowed: Sweat equity to be used for the entire amount of down payment and closing costs with maximum 97 percent LTV/105 percent… Read More »
Senate Bill No. 1168 Senate Bill 1168 has been introduced into the Virginia Senate by Senator Bill DeSteph and impacts Real Estate Appraisers and Appraisal Management Companies. The bill allows for a regulatory Board within the Department of Professional Occupation Regulations to “expunge” a disciplinary record of a licensee. See the bill in the Virginia… Read More »
VaCAP sent out a “Call to Action” a month ago to comment on the proposed increase in the appraisal threshold to $400,000. As of this writing, only 168 comments have been received. This is our Future, Please Comment Now! The OCC, Board, and FDIC (collectively, the agencies) are inviting comment on a proposed rule to… Read More »