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OCC used “outdated, unclear” guidance for redlining exams

Housing Wire

Emanuel Cleaver of Missouri asked the Government Accountability Office (GAO) to review the OCC’s fair lending oversight. The GAO also tracked the number of fair lending examinations the OCC performs each year, finding they have dropped off significantly since 2018. Democratic lawmakers Rep. Joyce Beatty of Ohio, Rep.

Lending 368
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Clear Capital Launches Property Valuation, Risk Assessment APIs for Streamlined Access to Modern Valuation Solutions

Clear Capital

Each API connects directly into existing systems through a single integration for lenders, investors, and system providers, making it easier to adopt and deploy modern property valuation solutions. ” Over the past year, the government-sponsored enterprises (GSEs) have made sweeping changes around modern valuation solutions, and ?? .”

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GSEs further expand AVMs, desktop and hybrid appraisals

Housing Wire

Starting in 2023, Freddie Mac said it will look at expanding the use of its automated collateral evaluation for mortgages with loan to value ratios greater than 80% through a targeted lending program. Fannie Mae also included efforts to “modernize” appraisals in its equity plans. Fair housing, are you kidding me?”.

Appraisal 293
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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 fact, real estate professionals are accountable to the exact same type of state government licensing requirements and regulatory frameworks that appraisers are.

Appraisal 314
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PAVE Task Force Releases Recommendations to Promote Valuation Equity

McKissock

Require appraisal anti-bias, fair housing, and fair lending training for all appraisers who conduct appraisals for federal programs and work with the appraisal industry to require such trainings for all appraisers. Define metrics that can help to identify and measure patterns of mis-valuation in the property valuation process.

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The Hybrid Appraisal: It’s Cheaper, but Does It Protect Homebuyers?

Realtor

Lenders have a vested interest in the home appraisal because it protects them from lending more money than they can recoup should you default on your loan and go into foreclosure. And in 2018, Fannie Mae began testing its hybrid appraisal, a method it had worked on for years to speed up and modernize the traditional appraisal process.

Appraisal 107
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Why Manufactured Housing Deserves a Fresh Look

Genworth MI Blog

In this article, I will challenge conventional stereotypes and encourage you to explore manufactured housing as an emerging lending opportunity, positioned ideally for those savvy enough to see with different eyes. Underwriter/risk training – examine whether your staff has sufficient awareness and training on manufactured housing.