Remove 2022 Remove Appraisal Process Remove Tools Remove Training
article thumbnail

Overcoming 2023’s biggest appraisal challenges

Housing Wire

We saw in 2020 and 2021 some of the most extensive challenges with appraisals due to the volume we experienced as an industry, and we saw nationwide turnaround times extend out to the longest I’ve seen in a decade. The solutions we have seen are focused on addressing either the supply or the demand of appraisals.

Appraisal 380
article thumbnail

White House marks one year of PAVE appraisal bias action plan

Housing Wire

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S.

Appraisal 373
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How is the industry adapting to desktop appraisals?

Housing Wire

HousingWire recently spoke with Kenon Chen, Executive Vice President of Corporate Strategy at Clear Capital, about desktop appraisal adoption and appraisal modernization. HousingWire: Desktop appraisals became a permanent option for certain loans in March 2022.

Appraisal 325
article thumbnail

PAVE Task Force Releases Recommendations to Promote Valuation Equity

McKissock

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Address potential bias in the use of technology-based valuation tools through rulemaking related to Automated Valuation Models (AVMs).

article thumbnail

Clear Capital and ValueLink Expand Partnership to Support Recent Appraisal Modernization Policy Changes

Clear Capital

Clear Capital’s UDC property data collection solution provides lenders with interchangeability and less complexity in loan management, as well as ease of adoption by integrating with ValueLink’s appraisal management platforms. For borrowers, this modernization can provide upfront value certainty and reduced costs for eligible loans.

article thumbnail

Freddie Mac’s updates to the ACE + PDR valuation option

Housing Wire

Appraisal modernization is a hot topic right now, but updating the appraisal process is easier said than done. The process today is limited by a number of structural constraints, according to Scott Reuter, Single-Family chief appraiser at Freddie Mac.

Valuation 306
article thumbnail

Appraisal modernization: What is going on with the forms?

Housing Wire

The industry begins the mammoth task of rebuilding its systems, technology, processes, and product to support this new approach in 2022/2023. No doubt, investment in modernization is needed in the appraisal process. The changes will impact just about everything and everyone in the collateral valuation space.