article thumbnail

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.

article thumbnail

Is the appraisal process color-blind?

Housing Wire

Recently, at an event marking the 100th anniversary of the Tulsa Race Massacre , President Biden announced the launch of a new interagency task force to root out what it calls inequity in the appraisal industry. The dramatic change in value from two appraisals seems unusual.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Best practices to speed up the appraisal process

Housing Wire

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks.

article thumbnail

Opinion: The path to modernizing the appraisal process

Housing Wire

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. The appraisal gap for properties in Latino neighborhoods can be even worse, going as high as 9.4%.

article thumbnail

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?

article thumbnail

What AVMs can and can’t do in the appraisal process

Housing Wire

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. Automated Valuation Models (AVMs) are commonly used today in the mortgage industry to help support the appraiser’s concluded value.

article thumbnail

Navigating the Appraisal Process – What You Need to Know

Simonson Real Estate

While commercial appraisals are a central part of evaluating real estate, the appraisal process itself can be frustrating and confusing – primarily since each assessment depends on the scope and nature of the specific property. What is an Appraisal ?

article thumbnail

Overhauling the Appraisal Process

DataMaster

Replacing the old process with the new! Is it time to overhaul the appraisal process? By now, most appraisers have read the Request for Information (RFI) published by the Federal Housing Finance Agency (FHFA) on December 28, 2020. Appraisal Modernization.

article thumbnail

Clear Capital Further Modernizes the Appraisal Process with ClearPhoto

Appraisal Buzz

Clear Capital , a national real estate valuation technology company, has announced ClearPhoto, a set of AI-driven rules built into the company’s ClearCollateral Review solution. The post Clear Capital Further Modernizes the Appraisal Process with ClearPhoto appeared first on Appraisal Buzz.

article thumbnail

A Log Home Valuation

Appraisal Buzz

It is no secret that log homes do not appraise well. The question is raised as to what is the real problem with log home valuation and what is the problem with appraisers working in the niche log home market? The question is how are these homes being appraised?

Valuation 396
article thumbnail

Class Valuation acquires another AMC

Housing Wire

Appraisal management company Class Valuation , a subsidiary of investment firm Gridiron Capital , acquired Kansas City, Missouri-based Pendo Management for an undisclosed sum. We are excited to welcome the Pendo team to the Class Valuation family,” Fraas said.

Valuation 300
article thumbnail

The Key to High Valuations: Understanding the Home Appraisal Process

BiggerPockets

A home appraisal is an unbiased professional opinion of a home’s value based on recent sales of properties nearby. Here's how the process works. Buying & Selling Houses

article thumbnail

Calyx Integrates PCV Murcor Into Calyx Point to Enhance Appraisal Process

Appraisal Buzz

Calyx , a provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders and brokers, has announced that PCV Murcor , a nationwide real estate valuations management company, is now integrated with Calyx Point.

article thumbnail

The Most Challenging Part of the Appraisal Process

McKissock

Previously, we asked our real estate appraisal community, “What’s your favorite part of the appraisal process ?” This time, we asked appraisers, “What part of the appraisal process do you find the most challenging?

article thumbnail

Appraisals 101: What to Expect From the Home Appraisal Process

Raleigh Realty

Appraisals 101: What to Expect From the Home Appraisal Process Wondering what to expect from your home appraisal? Now it's time for the home appraisal. But before you do there's one last factor to consider: the home appraisal. What is a Home Appraisal?

article thumbnail

Valuation Tech Solutions

Housing Wire

The appraisal process is complex and time-consuming. Lenders and appraisers need technology that will not only help them remain com-pliant, but also reduce turnaround times. Incenter Appraisal Management. The post Valuation Tech Solutions appeared first on HousingWire.

Valuation 258
article thumbnail

Helping Lenders Navigate the Commercial Real Estate Appraisal Process

Simonson Real Estate

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. Below are are several key points from my presentation titled Navigating the Appraisal Process that’s been presented several times to the U.S.

article thumbnail

An Estate Sale Appraisal Process

Robinson Appraisal Group

An Estate Sale Appraisal Process. After 25 years of handling estate sale appraisal in the Baltimore Metropolitan area I have seen my fair share of estate sales. As an appraiser there are multiple ways to appraise a property that belongs to an estate.

article thumbnail

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.

Valuation 329
article thumbnail

Impact Valuation Group is Hiring

Appraisal Buzz

At Impact Valuation Group, we provide clients with reliable high-quality appraisal services in the shortest times possible, thus taking the worry and stress off the borrowers and lenders alike. We deliver high quality reports and offer a wide variety of appraisal products.

Valuation 221
article thumbnail

Appraiser-Controlled Desktop and Remote Valuations

Appraisal Buzz

Now that the GSEs have approved desktop valuations for purchase, appraisers need a way to collect trustworthy, verifiable data while also submitting floor plans on reports! Learn about all of the features in RemoteVal – a free inspection app for appraisers.

Valuation 370
article thumbnail

Black Knight’s Scout added to Fannie Mae’s new valuation options list

Housing Wire

Lender and appraisal management companies and other property data collection companies can now use Black Knight ‘s Scout mobile property inspection as part of the value acceptance plus property data process. The government-sponsored enterprise (GSE) approved six vendors following the roll-out of its new valuation initiative. The list includes some of the biggest names in the mortgage tech space — Solidifi, Class Valuation , Clear Capital , Mueller Services, Inc.

Valuation 152
article thumbnail

The appraisal gap is complicating deals across the country

Housing Wire

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal.

Appraisal 540
article thumbnail

Class Valuation Completes Verification Process for Freddie Mac’s ACE+ PDR Solution

Appraisal Buzz

Class Valuation reports that it has completed the verification process for Freddie Mac’s new ACE+ PDR (automated collateral valuation plus property data report) solution.

Valuation 370
article thumbnail

Whitepaper focuses on MDRs, impact on appraisal process

Valuation Review

Tennessee Certified Appraiser David Braun reached out to Valuation Review to discuss mutation of data records (MDRs) as outlined in his whitepaper.

article thumbnail

Envoy Mortgage selects Reggora technology for appraisal processing

Valuation Review

Reggora, an appraisal software company, announced Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal. Envoy will leverage Reggora technology to deliver a fast and efficient appraisal, supporting their customers through the homebuying journey, according to a company release

article thumbnail

How do remote valuation solutions benefit appraisers?

Housing Wire

From having to manage high volumes to finding innovative ways to appraise homes while maintaining distance, it’s no secret appraisers faced challenges during the beginning of the coronavirus pandemic. RemoteVal, by Incenter, replicates the process an appraisal already does.

Valuation 321
article thumbnail

Navigating appraisal challenges in today’s housing market

Housing Wire

The booming real estate market has created a high demand for appraisal services. This is good news for lenders, but it puts a tremendous amount of pressure on appraisers who have to be diligent in their work, while also meeting closing dates.

article thumbnail

Stewart Title acquires valuation services company Pro Teck

Housing Wire

Stewart Appraisal Management , a subsidiary of Stewart Information Services Corp., announced on Thursday it acquired valuation services company Pro Teck Valuation Intelligence. Stewart is looking to strengthen and expand its scale in the appraisal and valuation solutions space.

Valuation 304
article thumbnail

How to Speed Up the Commercial Real Estate Appraisal Process

Appraisal Hub

If speed is an important factor for your next commercial property transaction, then you need a property appraiser that works fast. But even the most efficient appraisal firms can’t do their jobs if clients don’t provide the information they need. What happens during an appraisal?

article thumbnail

HUD official talks appraisal bias task force

Housing Wire

A liberal think-tank, regulators, the government-sponsored enterprises, the President of the United States, even fintech firms have all called attention to appraisal bias. Marcia Fudge with leading an inter-agency task force to root out bias in appraisals.

Appraisal 337
article thumbnail

Fannie Announces New Options for Property Valuations, Market Rebound Halts, and More Appraisal News

McKissock

Fannie Mae updates its Selling Guide to include more options for property valuations. A new episode of Beyond the Numbers with McKissock Appraisal interviews Robbie Wilson to learn how his company, RSDS, is working to increase appraisal diversity. Read on for more appraisal news.

article thumbnail

PAVE Task Force Releases Recommendations to Promote Valuation Equity

McKissock

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.”

article thumbnail

What slows down the appraisal process?

Town & Country Residential Appraisals

AMC’s - “Appraisal Management Company” These organizations have come into existence in an attempt to fulfill government regulations to ensure that banks could not commit mortgage fraud like the practices seen prior to 2008.

article thumbnail

Lunch & Learn : The Role of Appraisers in the Future of Valuation

Housing Wire

Collateral valuation is a critical component of mortgage lending and the home sales process. The appraisal process is ripe for change, and we’ve seen an acceleration of innovation in the last two years. Hosted by Accurate Group.

Valuation 331
article thumbnail

Webinar: How to Modernize Your Appraisal Process, Drive Revenue & Stay Competitive in Any Market

Clear Capital

Learn how to navigate new technology and appraisal processes to thrive in any market. Embrace modern appraisal programs for long-term growth or to insulate against disruption. The mortgage industry is ever-evolving.

article thumbnail

Incenter Appraisal Management and McKissock Learning Form Desktop Valuation Training Partnership

Appraisal Buzz

LOUIS — January 24, 2022 — With Fannie Mae and Freddie Mac accepting desktop appraisals beginning in March, Incenter Appraisal Management and McKissock Learning are partnering to help appraisers update their remote inspection skills in response. CHARLOTTE, N.C. and ST.

Training 370
article thumbnail

Fintech firm seeks to modernize appraisal process | Clear Capital in the News

Clear Capital

Last year’s acquisition of CubiCasa by Clear Capital, a national real estate valuation technology company, was just one step in the firm’s overall mission to modernize the appraisal process, a top official told Mortgage Professional America. “We’ve Story by Tony Cantu for MPA.

article thumbnail

What is the Importance of the Appraisal Process?

AmeriMac

Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. Let’s discuss what an appraisal is and why it’s so important.

article thumbnail

What is the Importance of the Appraisal Process?

AmeriMac

Home appraisals are the perfect way to get an accurate measure of your house’s value. Now if you want to gain approval for a mortgage, you are going to need a good home appraisal. Let’s discuss what an appraisal is and why it’s so important.