Wholesale lenders have adopted different rules for appraisal transfers, loan product changes, and reporting formats, adding complications for brokers and appraisers ahead of the Nov. 2 mandate
Brokers preparing for next week's appraisal deadline face more than a change in reporting forms. Depending on the wholesale lender, an appraisal ordered before Nov. 2 may be subject to different acceptance rules, a transferred report may face additional requirements, and a c...
Rocket Mortgage data shows purchases involving older co-applicants have remained resilient
Young Americans are buying fewer homes than they were seven years ago, but purchases involving older co-applicants are bucking the trend.Home purchases by borrowers under 35 have fallen 15% since 2018, while purchases involving a co-applicant age 55 or older have increased r...
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