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Appraisal or Inspection: Which Do You Need?

East Coast Appraisal

While trying to buy a home, you may have found out that some lenders require their borrowers to have an appraisal and/or an inspection completed. Some lenders may only require an appraisal and leave the decision about an inspection up to you. Home appraisals are a way to determine the value of the home.

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What should lenders consider in 2024 for collateral risk?

Housing Wire

Appraisal modernization is vital. Gareth Borcherds , managing director Ascent Software Group outlines the three categories to be aware of, how appraisal modernization can help scale new initiatives and more in this executive conversation. Reduction in reliance on full appraisals. Higher quality appraisals.

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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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How data and technology can combat appraisal bias

Housing Wire

In the past few years, appraisal bias has come to the forefront of conversations about appraisals and how they can be improved. You can’t ignore it. At Tavant , they’re taking a look at the past and present of appraisals to prepare for a better future. There’s been progress, but there’s still a long way to go.”

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Class Valuation’s CIO on solving the appraisal conundrum

Housing Wire

Editor in Chief Sarah Wheeler sat down with Scot Rose , CIO at Class Valuation , to talk about innovation in the appraisal space and how the technology being deployed for appraisal modernization can actually protect appraisers. You can now glean condition and quality information through image recognition.

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Opinion: seven things to look for in a home equity partner

Housing Wire

Lenders need support in streamlining their processes and creating an exceptional borrower experience while keeping costs as low as possible. How do you identify the right home equity partner? First, think about your organization’s priorities and what kind of support you need. Excellent turn times.

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Fannie Mae approves six vendors for controversial new valuation initiative

Housing Wire

Fannie Mae has approved six firms to handle its new valuation initiative, which cuts traditional appraisers out of the process and potentially represents the biggest shift in the valuation space in years. Our appraisal, property inspection, title and closing technologies are designed to plug into any digital platform.”

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