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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

One significant factor behind the lack of evolution in the appraisal industry is that the American housing market has grown at a much higher rate than the pool of licensed professionals that are legally certified to appraise residential real estate. And appraisal waivers would be informed, not blind. Delegating onsite data collection.

Appraisal 329
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Appraisers Are Sitting Ducks to Random Legislation

Appraiserblogs

Valuation Legal warned us about this back in December: Appraiser and AMC Laws to Include Prohibitions Against Discrimination. Bill A5185 and AMC Bill A5146 introduced to the state legislature in New Jersey show just how much state legislators don’t understand the appraisal profession. From Bill A5185: 2. 45:14F-1 et seq.)

Appraisal 114
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Judge’s ruling will put PLS trusts under the thumb of the CFPB

Housing Wire

A recent judge’s ruling in pending litigation involving student-loan securitization trusts could have far-reaching legal and financial implications for the private-label securities market. The CFPB sued the student loan trusts in 2017, claiming they engaged in prohibited debt-collection and litigation practices.

Legal 380
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The fate of HUD

Housing Wire

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. In August, HUD Secretary Marcia Fudge signed an agreement with the Federal Housing Finance Agency to strengthen fair lending enforcement.

Insurance 346
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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

This is the statement in the HUD/FHA ML-2024-07: “This included guidance to improve the established process by which FHA program participants may request an ROV if the initial valuation is lower than expected.” There is administrative time involved, as well as legal factors. Was it the borrower? First, the burden on borrowers.

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ClearCast Podcast E21 — June Homes Founder & CEO Daniel Mishin

Clear Capital

billion in November, which is half of the valuation, of course of Smart Rent, which we’re just talking about. They are a digital lending platform. And sort of like came to the US in 2017 with like, a certain idea. Yeah, they just sold for $1.2 But still a chunk of change. But that’s mobile first.