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Modernizing Appraisals: Collaborative Valuation

Appraisal Buzz

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Why are appraisers essentially being excluded from the conversation about modernizing the profession?

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“How digitizing appraisal inspections can reduce risk and bias” tech talk

Clear Capital

The modern appraisal embraces data and technology to gather data differently. Watch this Tech Talk from Mortgage Innovators Conference 2021 to learn how appraisal modernization can help unlock a better, faster, and cheaper appraisal process while closing the gap in unfair lending practices.

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This app lets homeowners generate floor plans of their homes for free

Housing Wire

we’re helping potential buyers make more informed decisions, while empowering agents and sellers to market their properties more effectively, and supporting a modern valuation process for both appraisers and lenders,” said Jeff Allen, president of CubiCasa. “By offering a free version of our mobile scanning technology in the U.S.,

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The hybrid appraisal is here. Who benefits?

Housing Wire

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

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Class Valuation acquires AMC AppraisalTek

Housing Wire

In 2021, operating as Class Valuation, the company acquired Pendo Management , and in February, it added Metro-West. Both are alternatives to the traditional appraisal, and potentially reduce the amount of time an appraiser spends driving to and performing an on-site inspection.

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Opinion: The pros and cons of VA modernization bill

Housing Wire

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.

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Best practices to speed up the appraisal process

Housing Wire

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.