Remove Appraisal Process Remove Information Remove Modernization Remove Training
article thumbnail

Opinion: The path to modernizing the appraisal process

Housing Wire

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% All people.

article thumbnail

Freddie Mac’s updates to the ACE + PDR valuation option

Housing Wire

Appraisal modernization is a hot topic right now, but updating the appraisal process is easier said than done. The process today is limited by a number of structural constraints, according to Scott Reuter, Single-Family chief appraiser at Freddie Mac. If we can check those boxes, we succeed.

Valuation 283
Insiders

Sign Up for our Newsletter

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

article thumbnail

Appraisal modernization: What is going on with the forms?

Housing Wire

Here it is: another article about appraisal modernization. Many are tired of hearing about how the appraisal industry needs to change and progress. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents.

article thumbnail

Data Collectors Bring Into Question The Integrity of Modern Appraisals

Birmingham Appraisal

However, in recent years, the rise of data collectors has brought into question the integrity of modern appraisals. Data collectors are individuals or companies who collect information on properties, such as their size, age, and location, and then provide this information to appraisers who use it to provide opinions of value.

article thumbnail

Overhauling the Appraisal Process

DataMaster

Replacing the old process with the new! Is it time to overhaul the appraisal process? By now, most appraisers have read the Request for Information (RFI) published by the Federal Housing Finance Agency (FHFA) on December 28, 2020. Appraisal Modernization. Many appraisers share Horn’s concerns.

article thumbnail

VA official talks future of partial claims and revamping its reputation

Housing Wire

John Bell, deputy director at the VA, said the agency has made strides in recent years to get loans processed and out the door in a timely manner. JB: We just approved a brand new training department for VA. We’re really excited about building this training team out and hiring a contractor to help us put together the materials.

article thumbnail

Revolutionizing Appraisals: The Role of Blockchain Technology

Appraisal Buzz

This means that instead of relying on a single entity (like a bank) to keep track of transactions, blockchain distributes this information across multiple nodes. AI can analyze vast amounts of data on the blockchain to provide insights, predictions, and even automate certain appraisal processes.