Ross (CO)
Senior Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
There's a concurrent thread on reverse mortgages in another category which is likely revealing some consternation with a prospective "big national mortgage" company. Some of the hurdles in these early weeks of discussion seem to indicate that a few of their LO's have a differing idea for how the process works.
It appears their staff feel the "reverse" mortgage concept means......that the LO ought to be able to give the appraiser a fairly good idea of what they and the property owner think the property is worth, and the appraiser develops the report.....in-reverse.....by first putting that value at the bottom of page 2 and then completing all of the other fields after that !
I recall that the negotiations are still on-going.
It appears their staff feel the "reverse" mortgage concept means......that the LO ought to be able to give the appraiser a fairly good idea of what they and the property owner think the property is worth, and the appraiser develops the report.....in-reverse.....by first putting that value at the bottom of page 2 and then completing all of the other fields after that !
I recall that the negotiations are still on-going.
