Clear Capital

MARCH 4, 2022

The mortgage industry is on its way to modernizing the appraisal process. In early February, Fannie Mae and Freddie Mac, the government-sponsored entities (GSEs), incorporated desktop appraisals into their Selling Guides beginning in March 2022. How to take advantage of desktop appraisals. or its subsidiaries.

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Appraisal Today

AUGUST 18, 2023

homes are worth $1 million or more, near June 2022’s all-time high of 8.6%. Traut, McKissock Learning Excerpts: When appraisers receive appraisal assignment requests, they ask themselves if the fee is acceptable, am I competent for this assignment, can I meet the deadline, and so on. Just over 8% of U.S. Or hit the reply button.

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Housing Wire

SEPTEMBER 17, 2022

Then, in September of 2021 , leaders at the FHA said lenders would have to make the switch to FHA Catalyst by March 14, 2022. It would also permit lenders to electronically submit, track and manage single-family property appraisals. But in February, the agency pushed back the mandatory date to March 14, 2023.

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Housing Wire

NOVEMBER 30, 2021

These and other steps are sorely needed to bring the appraisal process in line with advances to digitize mortgages, utilizing technology to combat inconsistencies that continue to beleaguer the profession, and reduce closing slowdowns often caused by appraisal capacity issues. The modern appraisal movement is accelerating.

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Housing Wire

JANUARY 20, 2022

“The appraisal profession lacks diversity and does not reflect the population of the United States,” reads the report. Remedying this gap is not only likely to reduce the number of biased valuations, but also reduce the acute shortage of appraisers, which is impacting transactions across the country.”.

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Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry.

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Housing Wire

MAY 27, 2022

There is no single silver bullet that will rectify the pernicious impact of bias in residential real estate valuations — it is a complex problem that requires a multifaceted solution. First, we must acknowledge the impact that appraisal bias continues to have on minority homeowners and the broader housing system.

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Clear Capital

JANUARY 5, 2023

As a first-time buyer, unless you are among the 6% who purchase their homes entirely with cash , you are likely financing the transaction and your mortgage lender will require an appraisal. The potential for appraisal bias in home valuation has recently garnered public attention and regulatory scrutiny. points for Blacks.

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Housing Wire

FEBRUARY 7, 2022

As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. Part of its effort to modernize its outdated technology systems, the FHA Catalyst program, hit a snag last year. FHA has had gaps in loss-mitigation oversight of servicers it approved.

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