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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.

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Why is now the time for lenders to modernize their appraisal processes

Housing Wire

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?

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Why appraisal modernization alone is not enough

Housing Wire

Appraisal modernization is generating a lot of buzz in the real estate lending industry. Expanded use of desktop appraisal technology began out of necessity during the COVID-19 pandemic. However, is appraisal modernization on its own enough?

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Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long.

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Clear Capital launches UDC to support appraisal modernization

Housing Wire

Real estate valuation technology provider Clear Capital on Thursday launched Universal Data Collection (UDC), a product designed to support appraisal modernization. The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement.

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Best practices to speed up the appraisal process

Housing Wire

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. Can appraisals keep pace?

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How federal housing agencies are utilizing emerging technologies

Housing Wire

Achieving digital optimization is a main priority for federal housing agencies, and it’s happening at a time when incorporating technology is becoming a crucial part of the entire industry. House of Representatives passed a bill in September that streamlines the appraisal process for VA mortgage loans. For the U.S.