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How data and technology can combat appraisal bias

Housing Wire

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. We often hear the statistic that the average appraiser is a 57-year-old white male. Additionally, appraisals are conducted in much the same way today as they’ve been done for the last 60 years, she added.

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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

Appraisers will be presented with the data elements needed to report the characteristics of the subject property, and analyze the market, comparables, and other necessary parts of the appraisal process. Only those data and report elements that are important for the scope of work will be presented to the appraiser.

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Fannie Mae approves six vendors for controversial new valuation initiative

Housing Wire

For the new value acceptance plus property data option, third parties are authorized to do that collection at the property site, as long as lenders verify that they have a background check, have been “professionally trained” and are competent to do that collection. “Shift NOW as much appraisal work as possible away from Fannie Mae. .”

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PAVE Task Force Releases Recommendations to Promote Valuation Equity

McKissock

Address potential bias in the use of technology-based valuation tools through rulemaking related to Automated Valuation Models (AVMs). Update appraiser qualification criteria related to appraiser education, experience, and examination requirements to lower barriers to entry in the appraiser profession.

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Choosing the Right Appraiser: A Guide for Agents, Attorneys, Accountants, and Homeowners

Birmingham Appraisal

Certification and Licensing Appraisal standards and regulations are vital to maintaining the integrity of the profession. It’s imperative to choose an appraiser who is certified and licensed in the state they appraise in. A licensed appraiser demonstrates commitment and accountability to their clients and the industry.

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Understanding the Role of an Appraisal Management Company

AmeriMac

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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1004 Desktop appraisals: A monumental step forward for appraisal modernization

Clear Capital

Over the past few years, leading companies from across the industry have modernized and transformed how appraisals are manufactured to streamline the lending process and improve the borrower’s experience. We applaud this move and are dedicated to supporting lenders in the adoption of 1004 Desktop appraisals.