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Reevaluating your origination tools? Here’s where to start

Housing Wire

With the recent downturn in volume of new originations, many lenders are using this time to take inventory of the available tools geared toward risk mitigation and workflow optimization. If we look further towards property valuation, many concerns were exacerbated by the pandemic and a dwindling number of qualified valuation professionals.

Tools 391
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Settling on a New Normal for Appraisals in 2022

Appraisal Buzz

million units , and some experts say it could reach 8 million if there were more inventory. There’s too little supply and too high a demand, a predicament that’s disrupted the housing and appraisal industries. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value.

Appraisal 397
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How data and technology can combat appraisal bias

Housing Wire

In March , Fannie Mae released an update to its Seller’s Guide that outlined more options for property valuations, including value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals. These additional valuation options will lessen the opportunity for appraisal bias.”

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Agents fight misconceptions to win deals for military veteran clients

Housing Wire

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

Clients 383
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3 Ways Agents Can Help Appraisers to Be More Accurate

Cleveland Appraisal Blog

Let’s talk about three areas of a listing that, when completed accurately, can help appraisers to develop more supportable opinions of value. The more information the MLS listing offers on a home, the more useful the data is at helping appraisers to develop a supportable opinion of the value of a home being appraised.

Agents 374
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When & How do Appraiser’s Adjust for Age?

Cleveland Appraisal Blog

We also develop the effective ages of comparable sales to derive a range of effective ages, which can help to further support our estimate of the effective age of the property we are appraising. Then we can use the total economic life of the property to calculate its effective age.

Appraisal 223
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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”. Free download: Are you investing in yourself and your appraisal career? Paul, Minn.).