Remove 2020 Remove Lending Remove Modernization Remove Valuation
article thumbnail

A loan officer’s ultimate guide to appraisal modernization

Housing Wire

However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. How do the solutions work? Why do we need them? But you already know this.

article thumbnail

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. As the appraisal process is undergoing major shifts towards modernization and new levels of automation, this void was ripe for a solution. The adoption of ANSI is a critical step in that direction”.

Valuation 370
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Clario Appraisal Partners With Dod Skillbridge Program

Appraisal Buzz

Clario’s growth is unprecedented, expanding from 30 staff appraisers in 2019 to over 100 by the end of 2020, and is on target to employ 180 staff appraisers by the end of 2021. We specialize in real estate valuations for the mortgage lending and financial services industries. RENO, Nev. — Clario Appraisal Network, Inc.,

Appraisal 370
article thumbnail

FHFA sets extensions and expirations on loan flexibilities

Housing Wire

In the 30-minute question-and-answer session with Kristy Fercho, MBA’s chair-elect and executive vice president and head of home lending at Wells Fargo , Calabria said his expectations are that by mid-summer, the FHFA would end the flexibilities on collateral valuations unless circumstances force another extension.

article thumbnail

FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

Modernization will either take root and flourish throughout every branch of the mortgage industry, or our industry could miss a critical window to introduce meaningful reforms. In 2020, the use of “blind” appraisal waivers reached staggering, record highs. Poor data visibility. And appraisal waivers would be informed, not blind.

Appraisal 313
article thumbnail

Appraisers: Pay Attention to Policy

Appraisal Buzz

There are many facets to the appraisal business: lending, non-lending work, residential, and commercial work. Who even knew about desktop valuations or evaluations? Understanding what drives interest rates should be of utmost importance to an appraiser that is doing predominately lending work.

Appraisal 435
article thumbnail

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. In 2020, Calabria gave the public less than two weeks. But the status of the agency’s efforts to accomplish that goal is less clear.