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HUD settles with JPMorgan over appraisal bias case

Housing Wire

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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WFG reports its highest volume months ever during Q2 and Q3 of 2020

Housing Wire

“The market remains underserved in the sense that the mortgage lending market has changed so quickly that everyone is still trying to keep up,” Stone said. Stone also received October Research’s “Leadership Award” in September 2020. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.

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Clario Appraisal Partners With Dod Skillbridge Program

Appraisal Buzz

Through the partnership with SkillBridge, Clario’s training program will upskill and employ 35 active service members transitioning to civilian life in the next 12 months. To apply for the training program, visit this website. We specialize in real estate valuations for the mortgage lending and financial services industries.

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A loan officer’s ultimate guide to appraisal modernization

Housing Wire

Last year, Freddie Mac launched another solution that allows a trained property data collector to visit the home and gather images, measurements and property characteristics. A trained and vetted third party can perform the data collection. More recently, Fannie Mae launched a similar solution.

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Susan Rice to co-chair HUD appraisal task force

Housing Wire

The Property Appraisal and Valuation Equity task force will deliver a report to Biden within six months to describe the “extent, causes, and consequences of undervaluing of properties,” a HUD official told HousingWire. Many appraisers say disparities in valuation are caused by factors outside their control.

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ICE, DocMagic team up to offer closing technology

Housing Wire

“The migration towards digital mortgages is progressing quickly, and we’re happy to have provided ICE with capabilities to enable fully-paperless lending workflows along with better supply chain connectivity.” ” In the past year, DocMagic has made headlines in the digital closing space.

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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

A 2017 study conducted by the National Association of Realtors found that “lack of training, downward trends in compensation, and increasing regulation,” were driving both existing and would-be appraisers away from the industry. In 2020, the use of “blind” appraisal waivers reached staggering, record highs. Poor data visibility.

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