Housing Wire

MARCH 9, 2021

The finance giant will also begin training home lending advisors and client care specialists in the reconsideration of value process and fair lending issues related to appraisals. ” Though the bank did not admit to any wrongdoing or any appraisal bias, it moved quickly to update its policies on valuations.

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Town & Country Residential Appraisals

JUNE 19, 2023

It's important to understand how ADUs can impact property value and financing options, particularly considering the restrictions set by Fannie Mae and FHA lending guidelines. There are some financing fonsiderations that need to be considered when attempting to purchase or build a property that has an ADU with money from the bank.

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Housing Wire

APRIL 6, 2023

The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) in May for its second public hearing on appraisal bias. At the first ASC hearing in January, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra took aim at the dysfunctional regulatory system that governs the appraisal industry.

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Housing Wire

MARCH 23, 2023

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.

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Housing Wire

AUGUST 21, 2023

Year Founded Description 98 OptiFunder 4,767% 2018 Finance company helping independent mortgage lenders choose among funding options and streamline the process. 126 Transactly 3,852% 2017 Real estate transaction platform providing automation, integrations and tech-enabled services that significantly reduce process time.

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Housing Wire

FEBRUARY 14, 2022

The Federal Housing Finance Agency (FHFA), in its new strategic plan, indicated it is heading in a different direction than under the Trump administration. Another tool the FHFA says it will use to spur affordability is through its equitable housing finance plans. But the equitable housing finance plans have also yet to materialize.

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Housing Wire

MARCH 31, 2022

The draft bill also proposed an “Office of Fair Lending” within the new valuations agency, which would report to the head of the agency. That office would oversee fair lending supervision and examination procedures, as well as the consumer complaint process.

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Appraisal Buzz

SEPTEMBER 5, 2022

It took several years to re-establish effective and meaningful communication between appraisers and their lending partners. Users will re-engage the appraiser once they attain a level of confidence in that professional’s ability. Is there room for more improvement?

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Appraisal Buzz

NOVEMBER 3, 2021

It is imperative to set and adopt a standard that can be applied by appraisers as well as other stakeholders. As the appraisal process is undergoing major shifts towards modernization and new levels of automation, this void was ripe for a solution.

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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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Realtor

NOVEMBER 1, 2023

VA lenders are often looking for a FICO score of at least 620, a benchmark lower than what you’ll typically need for conventional financing. VA appraisal Once a veteran is under contract, their lending team will order an appraisal, which is conducted by an independent VA appraiser. Closing It’s time to celebrate!

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Appraisal Buzz

DECEMBER 20, 2021

However, the challenges of appraiser shortages and appraisal backlogs are slowing down lending. We are thrilled to overcome this hurdle with Incenter Appraisal Management’s groundbreaking solution,” said John Keratsis, President and CEO, Deephaven Mortgage. About Deephaven.

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Housing Wire

NOVEMBER 8, 2021

A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

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Housing Wire

JULY 29, 2021

How to reduce appraisal turn times and improve the borrower experience. To streamline the appraisal process, Voxtur has launched a new workflow with better data and mobility to improve customer satisfaction. She also said that the appraisal industry may still struggle with pressure from lenders. “We Presented by: Voxtur.

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Cleveland Appraisal Blog

OCTOBER 29, 2021

To make this determination, the appraiser must first determine the Highest and Best Use of the land. To help the public to realize that our work as appraisers, is not as simple as many who are not appraisers, say it is, or how simple things may look on paper. REMAINING ECONOMIC LIFE FOR LENDING PURPOSES.

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AmeriMac

MARCH 15, 2024

Appraisal Management Companies (AMCs) play a crucial role in the real estate industry by providing independent appraisal services to lenders and other clients. While most people are familiar with the concept of an appraiser, many may not be aware of the important role that AMCs play in the appraisal process.

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Birmingham Appraisal

JUNE 13, 2023

Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I believe that appraisers and agents have a common goal: to help their clients buy or sell a home.

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Cleveland Appraisal Blog

AUGUST 25, 2022

Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree. Cleveland Appraisal Blog offers a wealth of free information on every aspect of the appraisal process. Determine How Much You Can Afford. Let us know ! Image via Pexels. .

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McKissock

DECEMBER 3, 2021

During the last several weeks, the task force has held online “listening sessions” to solicit feedback from appraisers, lenders, and other stakeholders in the residential mortgage lending industry. Co-chaired by current HUD Secretary Marcia Fudge and former U.N.

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Housing Wire

OCTOBER 26, 2020

In times like these, the “one-stop-shop” approach to the servicing and lending process has become even more appealing, and there is a company providing that in a flexible capacity: Xome. When COVID-19 complicated the appraisal process, Xome was able to direct its lender clients to its contactless valuation option via a mobile app.

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Housing Wire

OCTOBER 5, 2022

But these forces all happening at once makes the current landscape especially volatile and challenging, according to Sandra Thompson, the Director of the Federal Housing Finance Agency. “If housing market has faced periods of high interest rates, home price appreciation and lack of inventory before. That’s true, generally speaking.

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Housing Wire

DECEMBER 29, 2020

. “Partnering with Blend allows us to offer a simple, seamless online home financing experience. And our mortgage loan originators are there to shepherd the process to help ensure our customers are confident as they make what likely is the biggest purchase of their lives,” Shroat said.

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DataMaster

APRIL 6, 2021

If you’re an appraiser and you’re reading this, you already know the details. But do your customers understand how an appraisal works? Share this article with them and chat about the appraisal process. The better the appraisal process is understood, the less customers will question the results!

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McKissock

DECEMBER 28, 2021

Nonetheless, it would be prudent for appraisers to refresh or develop their knowledge on appraising REO properties.”. Appraisers should consider learning more about desktop appraisals and the hybrid/bifurcated appraisal process and using remote inspection tools such as RemoteVal ,” she advises.

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Birmingham Appraisal

FEBRUARY 20, 2024

Understanding the Role of the Real Estate Appraiser When a home buyer finds a home they would like to purchase and have the need to obtain financing they will work with a lender. I have discussed the process appraisers go through when choosing comparables and you can read about it HERE if you are interested.

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DataMaster

APRIL 6, 2021

If you’re an appraiser and you’re reading this, you already know the details. But do your customers understand how an appraisal works? Share this article with them and chat about the appraisal process. The better the appraisal process is understood, the less customers will question the results!

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Appraisal Appraisal Process Buyers Legal 78

DataMaster

APRIL 6, 2021

If you’re an appraiser and you’re reading this, you already know the details. But do your customers understand how an appraisal works? Share this article with them and chat about the appraisal process. The better the appraisal process is understood, the less customers will question the results!

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Appraisal Appraisal Process Buyers Legal 78

D Fritz Appraisals

OCTOBER 11, 2022

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. Estate settlements.

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AmeriMac

MAY 24, 2022

The HVCC was backed by then-New York Attorney General Andrew Cuomo, Freddie Mac, Fannie Mae, and the Federal Housing Finance Agency. The rules set forth isolated different lenders and appraisers for greater independence throughout the process. These requirements are set forth in Dodd-Frank and Truth in Lending.

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Listing Spark

FEBRUARY 24, 2023

He used the ‘BRRRR’ method (buy, rehab, refinance, rent, repeat) and has recently focused on creative financing options such as subject to or owner financing. Ryan also discusses what the appraisal process was like on this unique property. The good news is DSCR lending still has a six month seasoning.

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The Robert Weiler Company

SEPTEMBER 18, 2022

But first, it’s important to understand what is a land appraisal, how it is appraised, the real estate appraisal process, and what to expect. What is a Land Appraisal? Land appraisal is a process of assessing the land value and then developing an opinion of value.

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AmeriMac

APRIL 15, 2024

Understanding Home Appraisals A home appraisal is an official estimate of the fair market value of a home conducted by a licensed and impartial professional appraiser. The appraisal process involves gathering information about the home, the surrounding neighborhood, and recent nearby sales to determine the home’s value.

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Appraiserblogs

JUNE 17, 2022

Their Equitable Housing Finance Plan for 2022-2024 outlines a range of pilot programs that remove barriers blacks face when buying or renting, and keeping homeowners and renters at home: Valuation Modernization aims to support an equitable appraisal process for Black households and communities of color Expand Appraiser.

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AmeriMac

JUNE 14, 2021

You may need a commercial appraisal if your property is being sold, mortgaged, taxed, insured or developed. What Happens During a Commercial Real Estate Appraisal? Data that was gathered by the appraiser can be utilized to determine property values. What Happens During the Commercial Appraisal Process? Conclusion.

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AmeriMac

JUNE 14, 2021

You may need a commercial appraisal if your property is being sold, mortgaged, taxed, insured or developed. What Happens During a Commercial Real Estate Appraisal? Data that was gathered by the appraiser can be utilized to determine property values. What Happens During the Commercial Appraisal Process? Conclusion.

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AmeriMac

JUNE 14, 2021

You may need a commercial appraisal if your property is being sold, mortgaged, taxed, insured or developed. What Happens During a Commercial Real Estate Appraisal? Data that was gathered by the appraiser can be utilized to determine property values. What Happens During the Commercial Appraisal Process? Conclusion.

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D Fritz Appraisals

AUGUST 12, 2019

Likewise, in the case of an appraiser appraising the property for less than expected, the lender may not loan the necessary funding, and the buyer can go back to the seller with this information. If there was a subject to financing, the seller may choose to work with the buyer by lowering the price.

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