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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?

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PAVE Task Force Releases Recommendations to Promote Valuation Equity

McKissock

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.”

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CFPB and DOJ: Lenders are liable for appraisal discrimination

Housing Wire

The lawsuit alleges that an appraiser with 20/20 Valuations lowered the valuation of a home because the owners, Nathan Connolly and Shani Motta, were Black — and were also denied the owners’ mortgage refinancing application with loanDepot based on the lower appraisal, which violated the FHA and ECOA.

Appraisal 351
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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.

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GSEs further expand AVMs, desktop and hybrid appraisals

Housing Wire

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.

Appraisal 311
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation. Really, appraisers have always thought this way. The appraiser will be led through a process, defined by the scope of work. If typewriters are no more, it is time for forms to be retired as well.

Appraisal 397
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The fate of HUD

Housing Wire

As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. A spokesperson for HUD said the agency could not discuss investigations or strategy of fair lending enforcement, but said that fair lending is a priority of the Biden-Harris Administration and HUD.

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