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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. The original appraisal waiver solutions were launched in August 2017.

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Why Hometap is betting on the growth of the home equity investment market

Housing Wire

In return, Hometap receives an agreed-up percentage of the sale price or current appraised value. “We The market for home equity investment is still small, with the estimated investment volume from players in the market to be around $2 billion and $3 billion. One is through the market that we’ve approached.

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Markets Remain Depressed in Disadvantaged Communities

Appraisal Buzz

ATTOM released its Q4 2021 special report analyzing qualified low-income Opportunity Zones targeted by Congress, for economic redevelopment in the Tax Cuts and Jobs Act of 2017. The post Markets Remain Depressed in Disadvantaged Communities appeared first on Appraisal Buzz.

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The Cleveland Area Housing Market Was Skating Along… And Then This Happened

Cleveland Appraisal Blog

We all needed some rest from the crazy housing market we’ve experienced in recent years. Like most markets across the country, the Cleveland area housing market has been red hot for the past few years. However, the markets have hit an abrupt slow down, or might I say, cool down, kind of like this ice skater experienced.

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The appraisal industry’s hidden hand

Housing Wire

He started contracting with home mortgage lenders to appraise the value of the property tied to a loan. “It But DeZarn was an independent contractor business of one, and he lost his clients in 2008 when the housing market imploded. He reentered the appraisal business through a different door. It fit well.

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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

The FHFA’s engagement of industry stakeholders signifies a critical inflection point for appraisal transformation. For example, appraisal turn time has swelled 65% from 2018, according to recent data published by Freddie Mac. Appraisal costs have also soared 24% since 2016, according to the Freddie Mac data. Appraiser shortage.

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The National Average Property Tax Rate Increased Nearly 7 Percent in 2023

Appraisal Buzz

The latest average tax resulted in an effective tax rate nationwide of 0.87% – up slightly from 0.83% in 2022, marking the first increase since 2017. The effective tax rate shows the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.