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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation.

Appraisal 397
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UWM gave brokers big discounts to play with. It could be risky

Housing Wire

Mortgage compliance attorneys interviewed by HousingWire said the program, dubbed “Control Your Price,” raises potential areas of concern across three subjects: rules that govern loan officers’ compensation; fair lending; and unfair, deceptive and abusive acts and practices. ” According to Selden, the rule is clear.

Lending 335
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DOJ files complaint against lender for alleged use of unqualified underwriters and forgery

Housing Wire

Kang attributed the actions, at best, as a “dispute over alleged technical violations and process errors related to the underwriting of HECM’s” between 2008 and 2010. Attorney’s Office for the District of Columbia, the Department of Housing and Urban Development and HUD’s Office of Inspector General.

Legal 289
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The appraisal industry’s governance problem

Housing Wire

The appraisal industry’s “byzantine regulation structure,” according to the report’s authors — experts in fair housing, fair lending and valuation — has stunted the appraisal industry’s understanding of fair housing risk. The GSE appraisal data, which goes back to 2010, is unparalleled in its scale. Marcia Fudge.

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Reducing the racial wealth gap by expanding down payment assistance

Housing Wire

While there is some overlap with state agency data, FHA mortgage lending has become increasingly reliant on DPA as well. The responsible parties here are the Secretary of Housing and Urban Development and the Director of the Federal Housing Finance Agency , who regulates the GSEs. of the average home price.

Law 481
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AVMs undergo compliance and regulation updates

Clear Capital

In addition to the Fannie Mae and Freddie Mac focus on appraisal bias, federal banking regulators and the Consumer Financial Protection Bureau (CFPB), all of whom are on the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), continued their work to examine requirements around AVM development and use. Valuation Equity.