Remove 2010 Remove Legal Remove Lending Remove Technology
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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. This necessitates innovation and adaptation, potentially narrowing the technological and market advantage that existing providers might have had.

Appraisal 397
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CFPB names familiar faces as its chief enforcers

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. a legal defense nonprofit. He also had a stint as director at the Center for Responsible Lending.

Lending 318
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Opinion: When it comes to default and REO, what you don’t know will hurt you

Housing Wire

The mortgage lending industry exists to make home loans, not to repossess them. This won’t just protect against legal or regulatory risk. Technology is often mentioned as a panacea for just about anything, but the investment must come after careful consideration about what systems are needed and what will provide the best fit.

Legal 407
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AVMs undergo compliance and regulation updates

Clear Capital

Then in early 2022, Fannie Mae turned to real estate valuation technology to conduct its own study on appraisal bias. Questions were posed such as, “are they, in fact, objective,” or “is AVM technology just as susceptible to valuation bias?” . AVMs should be used in the lending process to prevent appraisal bias.

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Reducing the racial wealth gap by expanding down payment assistance

Housing Wire

Chief among these is how to operationalize the advanceable feature of the credit, which is akin to asking the IRS to deliver individual tax refund checks to tax filers on a date of their choosing, relying on obsolete technology and inadequate staff resources. Now is the time to double down on diversity and inclusion efforts.

Law 481