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Clear Capital launches APIs to make adopting modern valuations solutions easier 

Housing Wire

Real estate valuation technology company Clear Capital rolled out two application programming interfaces (APIs) that aim to make adopting and deploying modern valuation solutions easier, ultimately closing loans faster. Using automated valuation models “leads to relatively lower racial gaps,” according to Freddie Mac. .

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FHFA will host second public forum on appraisal bias

Housing Wire

A report commissioned by the Appraisal Subcommittee in 2021 and led by the National Fair Housing Alliance found that the industry has been allowed to regulate itself, a rarity in the heavily regulated housing and mortgage industries. Our analysis finds that the appraisal industry has operated in a relatively closed, self-regulated framework.”

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Appraisers raise alarm on AMC revenue-sharing models

Housing Wire

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. In 2023, nearly half of appraisers surveyed said fee pressure was their biggest challenge, up 20 percentage points since last year.

Appraisal 363
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HUD settles with JPMorgan over appraisal bias case

Housing Wire

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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Kamala Harris talks proposed AVM bias rule as White House announces new appraisal actions

Housing Wire

On the heels of a Thursday announcement by six federal agencies unveiling a proposed rule that would implement quality control standards that govern the use of automated valuation models (AVMs), Vice President Kamala Harris weighed in. In addition, the proposed rule expressly includes a nondiscrimination quality control standard.”

Appraisal 365
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Understanding The Reverse Mortgage Appraisal Process

AmeriMac

The significance of Reverse Mortgage Appraisal In the context of reverse mortgages, a crucial aspect is ensuring that the property’s value aligns with the loan terms, making the reverse mortgage appraisal process significant. This includes having the necessary amenities and being in a state of good repair.

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Will hybrid appraisals become the new normal?

Housing Wire

According to FHFA director Mark Calabria, modernizing the appraisal process has the potential to create a more “streamlined and accurate collateral valuation process.” The comments we receive will inform how we will modernize appraisals to improve both loan quality and the origination process.”.

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