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2020 Banking and Construction Lending Trends for Minnesota

Simonson Real Estate

On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. .

Lending 148
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HUD settles with JPMorgan over appraisal bias case

Housing Wire

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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CRN – Gross Living Area Measuring Standards Announcement

Appraisal Buzz

Joan Trice, Founder and President of the CRN states, “gross living area (GLA) is one of the most important inputs in a valuation report. It is imperative to set and adopt a standard that can be applied by appraisers as well as other stakeholders. Valuation professional application samples of unique properties.

Valuation 370
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Susan Rice to co-chair HUD appraisal task force

Housing Wire

The Property Appraisal and Valuation Equity task force will deliver a report to Biden within six months to describe the “extent, causes, and consequences of undervaluing of properties,” a HUD official told HousingWire. How to reduce appraisal turn times and improve the borrower experience. Presented by: Voxtur.

Appraisal 545
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With strategic plan, FHFA charts new course

Housing Wire

The plan differs greatly from the one issued in 2020 under then-FHFA Director Mark Calabria, which made ending the GSE conservatorship a top priority. FHFA has already taken steps to make appraisals more efficient, although many in the appraisal industry take issue with cutting costs for appraisals.

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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

HousingWire recently spoke with PCV Murcor Founder, President and CEO Keith Murray, and COO Cindy Nasser on how the appraisal process can be streamlined in today’s tight housing market. Further compounding the diminishing pool of appraisers is the increasing demand for their services. Presented by: PCV Murcor.

Appraisal 313
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Navigating capacity concerns amidst record-high volumes

Housing Wire

When it comes to common pain points lenders are seeing in the second half of 2020, handling high loan volumes continues to loom large. In times like these, the “one-stop-shop” approach to the servicing and lending process has become even more appealing, and there is a company providing that in a flexible capacity: Xome.

Clients 351