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Why is now the time for lenders to modernize their appraisal processes

Housing Wire

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?

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House passes bill to modernize VA appraisals

Housing Wire

House of Representatives this week passed a bill that streamlines the appraisal process for U.S. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether. “The

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Clear Capital Further Modernizes the Appraisal Process with ClearPhoto

Appraisal Buzz

The technology was developed by Clear Capital’s data science team to further streamline the appraisal process and equip lenders with technology that powers low-risk, high-quality decisions. The post Clear Capital Further Modernizes the Appraisal Process with ClearPhoto appeared first on Appraisal Buzz.

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Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long.

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Clear Capital launches UDC to support appraisal modernization

Housing Wire

Real estate valuation technology provider Clear Capital on Thursday launched Universal Data Collection (UDC), a product designed to support appraisal modernization. The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement.

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Progress now or perfect later: Improving the appraisal process

Housing Wire

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. housing cannot be accomplished with a focus on appraisal alone.

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Best practices to speed up the appraisal process

Housing Wire

One reason appraisals are taking less time is the adoption of different appraisal models. For instance, desktop appraisals became a permanent option for certain loans in March 2022, and along with hybrid appraisals, they’re reducing cycle times significantly. Can appraisals keep pace?