Emily B.

For loans $25,000 to $350,000, the lender uses a Property Report from Stewart to confirm:Current grantee and grantorLast deed of record informationRecordable legal descriptionStatus of real estate ...

Inter vivos revocable trusts, also known as Living Trusts, are eligible for origination. The lender must obtain copies of the trust or trust certification and include them in the loan file. A revie...

Ownership must be fee simple or leasehold in name of individual(s) or inter vivos revocable trust.The following entities are prohibited:Limited Liability Company (LLC)CorporationPartnershipIrrevoca...

Properties currently listed for sale or listed within the last sixty (60) days are ineligible for a HELOC in the following states: DC, IL, IN, IA, LA, ME, NC, PA, RI, TN, TX, VT, WA

Properties with accessory dwelling units are eligibleNote: An ADU may not act as the subject property

The following are examples of unacceptable appraisal practices:Development of a valuation conclusion based either partially or completely on the race, color or national origin of either the prospec...

The Recertification of an existing appraisal is acceptable when the following requirements are met:Report has been completed within twelve (12) months of consummation dateCurrent appraisal provided...

General Appraisal ResponsibilitiesEnsuring that the appraiser uses sound reasoning and provides evidence to support the methodology used for determining the value;Compliance with the ECOA Valuation...

For loan amounts up to $500,000, an option for a transferred appraisal may be possible. The transferred appraisal, if not originally ordered through the lender, but was for a prior transaction, may...

Loan Amounts up to $500KFor loan amounts between $10,000 and $500,000, the lender utilizes automated valuation models (AVMs) in the following order of preferencePrimary AVM: Clear Capital (AVM1)FSD...