Remove 2022 Remove Appraisal Remove Modernization Remove Mortgage Appraisal
article thumbnail

Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long.

article thumbnail

Proposed VA appraisal law looks to even the playing field

Housing Wire

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together. Sponsored Video.

Law 393
Insiders

Sign Up for our Newsletter

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

article thumbnail

Lenders mandated to use FHA Catalyst for appraisals

Housing Wire

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week.

Appraisal 415
article thumbnail

FHA delays mandatory use date for FHA Catalyst appraisal submission

Housing Wire

The Federal Housing Administration announced this week that lenders have an additional year before they must submit appraisals through the FHA Catalyst: EAD Module. The previous deadline, announced in mid- 2021, was March 14, 2022. What role does appraisal tech have in creating customers for life? Presented by: Reggora.

Appraisal 294
article thumbnail

Like it or not, desktop appraisals are here to stay

Housing Wire

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic. Scott Murphy, CEO of D.S.

Appraisal 363
article thumbnail

Don’t miss the Vanguard Forum at HW Annual Oct. 4

Housing Wire

We’re also hosting two fireside chats with our Vanguards, along with a special recognition of our 2022 honorees during the cocktail hour. The Vanguard Forum convenes at one of the most consequential moments in the history of the modern housing market,” said Clayton Collins, CEO of HW Media. “As