Housing Wire
FEBRUARY 21, 2023
The industry is buzzing with conversations around appraisal modernization — for good reason. Appraisal modernization reduces origination cycle time, bolsters appraiser capacity and helps lenders deliver a more seamless and transparent borrower experience. Here’s a quick rundown of how this modernization can support your success.
Housing Wire
MARCH 23, 2021
Aqil Ahmed: The year 2020 was an unprecedented one, with the global pandemic and economic uncertainty impacting each of us in one way or another. Use of an automated valuation model (AVM) paired with a property inspection has alleviated some of the capacity constraints in the workforce while saving time and costs for consumers.
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Housing Wire
AUGUST 31, 2023
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? But you already know this.
Appraisal Buzz
FEBRUARY 7, 2022
Prior to 2020, the most common appraisal label in the mortgage origination ecosystem was the Full Appraisal. The onset of the Covid-19 pandemic in 2020 introduced two new appraisal labels – the Exterior-only Appraisal and the Desktop Appraisal. Appraisal Labels. interior and exterior). Lenders rely on regulation and policy.
Housing Wire
DECEMBER 8, 2022
In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. Another appraisal innovation is Freddie Mac’s ACE+ PDR product (automated collateral evaluation plus property data report) solution, which involves an inspection-based waiver and has been in effect since July.
Appraisal Buzz
AUGUST 9, 2021
Not so long ago, there were very few appraisers that knew about property inspection waivers. For example, the 2020-2021 USPAP will now be effective until December 31, 2022. The GSEs implemented policy around the COVID-19 pandemic to temporarily allow for flexibility in reporting and inspecting/observing properties.
Housing Wire
JULY 1, 2021
The kitchen is also one of the areas that is commonly in need of modernization, from outdated appliances to antiquated cabinet styles. For instance, a 2020 report from Remodeling Magazine showed that a new bathroom that costs $49,598 could boost a home’s value by $26,807, which is 54% of the investment.
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