Housing Wire

AUGUST 22, 2023

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). When announcing the proposed rule, Vice President Kamala Harris weighed in.

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Housing Wire

OCTOBER 4, 2023

Lenders that adopt artificial intelligence (AI) or machine learning (ML) into the mortgage lending landscape want to see operational efficiency, Fannie Mae ’s mortgage lender sentiment survey showed. Top recommended AI application ideas included compliance, underwriting and property valuation.

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Technology Lending Valuation Mortgage 345

Housing Wire

MARCH 23, 2023

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

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Appraisal Reconsideration of Value Valuation Training 339

Housing Wire

JUNE 21, 2023

Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry. At the top of the list of housing issues the Bureau will aim to address is a rule related to automated valuation models (AVMs). While only a fraction of the total items on the agenda for the U.S.

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Valuation Finance Legal Development 294

Housing Wire

OCTOBER 4, 2022

The Department of Housing and Urban Development (HUD) back in April said it would be taking a hard look at small balance mortgages, which typically have balances less than $200,000 and are hard to find. Notably, denial rates for small-dollar mortgage loans are higher than for larger loans in both government and conventional channels.

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Law Legal Valuation Government 411

Appraiserblogs

JANUARY 8, 2024

The seeming destruction of the appraisal profession by the federal government, GSEs and lending stakeholders is a collective action problem. Appraisers are responding to new GSE and lending dictates with reactions based on our own personal well-being. Or so it seems.

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Appraisal Valuation Lending Contracts 131

McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.” Stay tuned.

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Valuation Property Appraisal Training Appraisal 91

Housing Wire

AUGUST 18, 2022

Government loans and conforming loans held for sale would have a 20% risk weight. Mortgage servicing rights are vulnerable to high-volatility market conditions, Ginnie Mae said, and MSRs also pose a valuation and liquidity risk. government. Other loans held for sale would have a 50% risk weight.

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Government Mortgage Business Valuation 381

Housing Wire

JUNE 1, 2021

Housing and Urban Development Secretary Marcia Fudge joined Biden to mark the 100th year since a white mob killed hundreds of Black residents of the Greenwood District. How hybrid title and valuations help increase lending efficiency. Streamline by combining services. Presented by: Altisource.

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Housing Wire

MAY 23, 2023

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. In March , Fannie Mae released an update to its Seller’s Guide that outlined more options for property valuations, including value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals.

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Technology Appraisal Lending Valuation 333

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. How Freddie Mac is addressing affordable housing challenges. Presented by: Freddie Mac.

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Finance Valuation Insurance Lending 441

Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Appraisal Valuation Inspection Law 293

Housing Wire

JANUARY 31, 2021

Clear Capital’s suite of field valuations, real estate analytics, and platform technology solutions help servicers prevent fraud, check the accuracy of completed appraisals and broker price opinions (BPOs), conduct portfolio valuation analysis and updates, and help with disposition analysis on distressed loans.

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Valuation Technology Development Real Estate 229

Housing Wire

SEPTEMBER 20, 2021

The research examined appraisals for home purchases the government sponsored enterprise received from 2015 through the end of 2020. The Department of Housing and Urban Development has received only a handful of such complaints in recent years.

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Appraisal Contracts Valuation Buyers 439

Housing Wire

NOVEMBER 5, 2021

Underwriters rely on appraisal and valuation professionals. Panelists: Kenon Chen, Executive Vice President, Corporate Strategy, Clear Capital Rachel Robinson, Director, Collateral Policy and Product Development, Rocket Mortgage Sarah Wheeler, Editor in Chief, HousingWire. Break Out: The Future of Valuations. All Things Housing.

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Real Estate Valuation Real Estate Agent Development 286

Housing Wire

MARCH 12, 2024

federal government. Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Within the congressional justifications for the U.S. HUD is requesting $2.5

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Simonson Real Estate

AUGUST 24, 2020

It was here that I had the opportunity to moderate the Banking and Construction Lending Update discussion with Patricia Gnetz of U.S. Based on lender interviews and market reports, appetite for lending on each of the property types generally falls into in the following ranking (in order of best to worst). We had a great discussion!

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Clear Capital

JUNE 28, 2022

Reno, NV — June 28, 2022 — Clear Capital , a national real estate valuation technology company, today announced the launch of two Application Programming Interfaces (APIs), Property Valuation API and Risk Assessment API.

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Valuation Modernization Real Estate Investors 69

Housing Wire

JUNE 8, 2022

The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”.

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Development Finance Government Lending 309

Housing Wire

AUGUST 7, 2023

Real estate still relies on a “system” unable to integrate production across the silos of media, brokerage, lending, insurance and trading. The result is higher costs, lower productivity, unmeasured quality, and systemic exposure as government monopolies take most of the risk and make most of the money.

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Housing Wire

MAY 23, 2022

Meanwhile, the Department of Housing and Urban Development (HUD)recently extended its timeline for allowing desktop appraisals for certain transactions impacted by the pandemic. Both Fannie Mae and Freddie Mac now allow appraisals to be conducted remotely, using public records such as listings and tax appraisals, for purchase loans.

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Law Appraisal Modernization Appraisal Process 393

Housing Wire

NOVEMBER 17, 2022

But, to date, it’s not been altered,” said Michael Carnes, managing director of the MSR Valuation Group at the Mortgage Industry Advisory Corporation (MIAC). Government and conforming loans held for sale would have a 20% risk weight. . “That’s the ‘elephant in the room’ right now.

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Marketing Lending Mortgage Valuation 355

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. Bank Home Mortgage and Planet Home Lending declined to comment.

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Buyers Agents Loan Officers Real Estate 374

Housing Wire

AUGUST 11, 2020

Shockingly, the gap is wider than it was in 1968, when the federal government first outlawed racially based housing discrimination. The most abhorrent racist practices, such as redlining, are officially prohibited, yet bias creeps into mortgage lending in myriad ways. This makes it more important than ever to consider how the U.S.

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Government Sellers Development Mortgage 408

Housing Wire

JANUARY 7, 2021

Andy Higginbotham, chief operating officer of Freddie Mac’s Single-Family business, said the partnership with Blend was a natural choice as both companies hone in on consumers demand for a fully digital lending experience. Though this isn’t the first time the mortgage tech startup has worked closely with the government entities.

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Mortgage Lending Investors Clients 228

Housing Wire

MARCH 31, 2021

The seven rescissions will be effective Thursday, April 1, with the government agency noting that it intends to exercise the full scope of its supervisory and enforcement authority provided under the Dodd-Frank Act. In one of its key decisions, the CFPB said it will roll back its leniency on reporting Home Mortgage Disclosure Act data. “Our

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Insurance Appraisal Development Lending 404

Housing Wire

OCTOBER 14, 2022

Now retired, Mohtashami has years of direct lending experience and his astute analysis of economic data allows him to present a unique, informed and unbiased perspective on the financial markets. His work focuses on helping Freddie Mac develop its economic outlook, including forecasts of trends in the economy and housing markets.

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Housing Market Marketing Real Estate Finance 435

Housing Wire

FEBRUARY 7, 2022

Few things terrify lenders more than the arrival of a manila envelope from the Department of Housing and Urban Development ( HUD ) containing a redlining allegation. Increased redlining enforcement is one piece of HUD’s renewed focus on fair lending, and part of a multi-pronged approach to address the legacy of racist housing policy.

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Insurance Modernization Lending Mortgage 334

Housing Wire

OCTOBER 6, 2020

Purveyors of very complex financial instruments, sold to risk-averse investors under the careful oversight of government regulators, have given us a process that must conform to investor and regulatory compliance requirements. Lending technology out of focus. We have fared much better on the automation side.

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Technology Mortgage Investors Investing 440

McKissock

DECEMBER 3, 2021

During the last several weeks, the task force has held online “listening sessions” to solicit feedback from appraisers, lenders, and other stakeholders in the residential mortgage lending industry. The task force itself does not have the authority to pass laws or promulgate regulations.

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Appraisal Process Law Property Appraisal Government 80

Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry. Valuation Equity.

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Valuation Technology Lending Real Estate 69

Housing Wire

FEBRUARY 7, 2023

“For these reasons, the enterprise should not accept MSR valuations provided by seller/servicers without an independent evaluation.” ” Nick Smith, the founder, managing partner and CEO of Minneapolis-based Rice Park Capital Management , sees the FHFA advisory bulletin as a positive development.

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Sellers Investors Valuation Finance 284

DataMaster

JUNE 15, 2023

Note: This blog post about short-term rentals was originally posted on Class Valuation’s site on May 11, 2022. also known as short-term rentals (STRs) — to claim STR income as part of the borrower qualifications side of the lending decision. This is creating significant friction in the lending environment.

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Appraisal Tenants Investors Business 148

McKissock

JANUARY 6, 2023

There are appraisal jobs available in the lending sector, such as staff appraisers, review appraisers, fee panel managers, and with experience and time on the job, chief appraiser and valuation compliance officer jobs can be found. They all handle land and building acquisitions and dispositions, as well as condemnation valuations.

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Appraisal Training Lending Land Management 74

AmeriMac

MARCH 15, 2024

The concept of AMCs was developed in the 1970s but didn’t gain widespread use until after the financial crisis in 2007-2008. The crisis exposed significant flaws in the appraisal process, leading to the development of regulatory measures to ensure more accurate and unbiased appraisals.

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Appraisal Appraisal Process Valuation Real Estate 36

Birmingham Appraisal

AUGUST 2, 2023

Whether you’re a homeowner looking to make improvements, an agent who needs a pre-listing appraisal, or an attorney or accountant who requires a certified appraisal, a well-qualified and experienced appraiser is essential for accurate property valuation.

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Appraisal Agents Valuation Real Estate 73