article thumbnail

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. “It

article thumbnail

Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

Appraiserblogs

The most recent statistics show Value Acceptance accounts for up to 40% of all mortgage approvals. It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgage appraisal process. appeared on Appraisers Blogs.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Class Valuation acquires AMC AppraisalTek

Housing Wire

The fragmented and decentralized appraisal management company sector is ripe for consolidation, amid increased regulatory pressures on appraisers and potentially disruptive technological changes. That technology is not just expected to eventually reduce costs, he added, but could also mitigate appraisal bias.

Valuation 342
article thumbnail

From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. Most appraisers have diversity in their business channels.

Appraisal 397
article thumbnail

How To Appraise Rural Properties

Appraisal Today

Urban, Suburban, Rural in Appraisals Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal? By Dallas T.

article thumbnail

Lenders mandated to use FHA Catalyst for appraisals

Housing Wire

The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process. Last year, the module was introduced as a pilot with no set deadline for lenders to transition.

Appraisal 432
article thumbnail

Rocket Mortgage’s Rachel Robinson to speak at HW Annual

Housing Wire

As the housing economy becomes increasingly digital, appraisal modernization may hold the key to not only providing a better experience for borrowers and lenders but also reducing potential appraisal bias. The schedule includes time to discover the latest technology through product demos and time to catch up with peers.