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. “I

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Appraisal Valuation Government Appraisal Process 357

Housing Wire

JANUARY 14, 2022

Collateral valuation is a critical component of mortgage lending and the home sales process. During the course of the pandemic, mortgage professionals have seen origination volumes for refi and purchase skyrocket as they have simultaneously faced challenges of accessing properties and completing in-person inspections.

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Housing Wire

MAY 23, 2023

In the past few years, appraisal bias has come to the forefront of conversations about appraisals and how they can be improved. 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.

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Technology Appraisal Lending Valuation 338

Appraisal Buzz

SEPTEMBER 15, 2021

—Digital transformation is underway with a modern approach to appraisal management—. Boston, September 14, 2021 – Reggora , an appraisal software company, improving residential real estate valuation, announced today that Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal.

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Appraisal Buzz

SEPTEMBER 5, 2022

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The Recent History of Appraisal Revisions. Complexity in Process and Properties.

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Kairos Appraisal Services

DECEMBER 1, 2022

The home appraisal is a key part of any home sale transaction, assuring the lender that they are not issuing a mortgage for more than a property is worth. An appraisal… The post How Appraisal Management Companies Aid the Appraisal Process appeared first on Kairos.

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Appraisal Process Appraisal Inspection Lending 52

Simonson Real Estate

JULY 10, 2020

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 ? Defining the Appraisal Scope of Work.

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Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. Half my work is non-lending work, and that’s been a blessing. As appraisers, we know!

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Business Appraisal Real Estate Agent Clients 393

Simonson Real Estate

DECEMBER 6, 2022

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. What property should be appraised?

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Appraisal Process Real Estate Appraisal Renovations 78

Appraisal Buzz

APRIL 15, 2024

By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. It all starts with the standard appraisal forms used in the mortgage process.

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Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. An appraisal is a valuation of a property by a third party.

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Appraisal Buzz

DECEMBER 20, 2021

. — December 16, 2021 — Deephaven Mortgage today announced an alliance with Incenter Appraisal Management to give Non-Agency/Non-QM brokers a new competitive advantage by offering remote appraisal services for Deephaven’s loans. Deephaven was founded in 2012 and led the rebuilding of the non-government mortgage market.

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Appraisal Mortgage Technology Appraisal Process 195

Housing Wire

OCTOBER 4, 2023

HousingWire recently spoke to Chris McLain, division president of Valuations for Consolidated Analytics , about the current appraisals market, AI innovation in valuations and valuation products for HELOCs and second-lien mortgages. HousingWire: How is the market for appraisals changing in 2024? Then we did more of the same.

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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. Non-traditional appraisals to the rescue.

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Housing Wire

MAY 2, 2021

There’s no denying the complexity of the appraisal process. With so many people involved – including the appraisal desk, loan operations, loan officers, underwriters, the IT/product team, borrowers and appraisal vendors – there’s room for error that could negatively impact the home buying experience.

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Housing Wire

MAY 25, 2021

The FHFA’s engagement of industry stakeholders signifies a critical inflection point for appraisal transformation. Modernization will either take root and flourish throughout every branch of the mortgage industry, or our industry could miss a critical window to introduce meaningful reforms. Appraiser shortage.

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Appraisal Valuation Real Estate Modernization 318

Housing Wire

APRIL 6, 2021

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. How hybrid title and valuations help increase lending efficiency.

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Appraisal Reconsideration of Value Real Estate Agent Sellers 539

Housing Wire

OCTOBER 5, 2022

Fannie Mae and Freddie Mac are working to provide more loss mitigation options to borrowers, studying ways to address appraisal bias and encouraging lending for manufactured homes, she said. When we look at the Fannie and Freddie books, from a credit risk perspective , you’re getting mortgages with 2%, 2.5%, maybe even 3%.

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Appraisal Tenants Mortgage Appraisal Process 339

Appraiserblogs

APRIL 18, 2024

Throughout the history of mortgage banking and lending in the United States, underwriting policies have significantly influenced the appraisal process for home purchases and refinances. Appraisers must follow underwriter appraisal review guidelines meticulously to ensure their appraisal reports are accepted by the lender.

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Housing Wire

APRIL 27, 2021

Here it is: another article about appraisal modernization. Many are tired of hearing about how the appraisal industry needs to change and progress. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents.

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Boston Appraisal

OCTOBER 8, 2022

In recent years, it has become common for lenders to obtain hybrid appraisals. While appraisers provide an essential service through their reports, this work comes at high costs to the buyer or borrower. This cost can be measured in terms of dollars spent on an appraisal or the time required to produce a full appraisal report.

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Appraisal Inspection Appraisal Process Valuation 135

Housing Wire

DECEMBER 21, 2021

Hosted by Mortgage Capital Trading. This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opporThe FHFA and HUD are vigorously pursuing equitable housing goals, which means big changes for lenders. Kris Kully Partner, Mayer Brown.

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Housing Wire

AUGUST 21, 2023

As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Mortgage origination platform Maxwell , which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. The past year hasn’t been particularly good for tech or housing. The company was No.

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Real Estate Real Estate Agent Technology Investors 353

Appraisal Buzz

MAY 31, 2022

As we all know, the home valuation is an integral part of the lending process that helps Americans in their journey to homeownership. This series of articles explores the role of appraisal review processes in the risk system in the format of mortgage lending for 1-4 family real estate. The Appraisal Review.

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Real Estate Lending Valuation Appraisal 221

Raleigh Realty

FEBRUARY 19, 2022

9 Things to Know BEFORE Your Home Appraisal Home appraisals. With competitive bidding wars and home selling for large percentages over the asking price, it's no wonder everyone is concerned about the home appraisal. Here’s what you want to know about your home appraisal and the role it plays when buying a home.

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Appraisal Appraisal Process Real Estate Agent Renovations 148

Housing Wire

MARCH 10, 2023

Fannie Mae has approved six firms to handle its new valuation initiative, which cuts traditional appraisers out of the process and potentially represents the biggest shift in the valuation space in years. Our appraisal, property inspection, title and closing technologies are designed to plug into any digital platform.”

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Appraisal Today

FEBRUARY 16, 2024

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. For many years I appraised in the nearby city of Berkeley, CA. Worth reading. A good summary. Many people don’t like them.

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Realtor

MAY 15, 2023

Getty Images If you need a mortgage to buy a home you have your eye on, it’s standard for your lender to order an appraisal of the property. But when your lender says it’s ordering a hybrid appraisal instead of a traditional appraisal , what does that mean exactly ? The appraisal also protects you as a buyer.

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Appraisal Real Estate Appraisal Process Market Value 107

Housing Wire

FEBRUARY 14, 2022

Under FHFA Acting Director Sandra Thompson, affordability, and expanding credit to those who are not well-served by the current mortgage market, is now a top strategic goal. FHFA has already taken steps to make appraisals more efficient, although many in the appraisal industry take issue with cutting costs for appraisals.

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Appraisal Process Finance Appraisal Modernization 362

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. The adoption of ANSI is a critical step in that direction”.

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Valuation Development Technology Appraisal 370

Birmingham Appraisal

AUGUST 23, 2023

How Can Appraisers and Agents Work Together? In the often chaotic world of real estate, the appraiser-agent relationship can contribute to a smoother process. There are many areas that appraisers and agents can inform and educate one another so that each of their jobs is done more successfully.

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Agents Appraisal Valuation Appraisal Process 83

Housing Wire

DECEMBER 29, 2020

With 2020 finally coming to a close, several companies wrapped up this unprecedented year for housing with some brand-new mortgage tech for 2021. With that aggregation, Optimal Blue said lenders can more efficiently price and originate mortgage products that can be sold on the secondary market.

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AmeriMac

MAY 15, 2024

Navigating Relocation Appraisals Successfully Relocating to a new city or state can be a complex and overwhelming process. One crucial aspect of the relocation process is the appraisal of the property being sold. Understanding Relocation Appraisals and Their Importance What is a Relocation Appraisal?

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Housing Wire

MAY 11, 2022

As profit margins tighten, lending professionals are seeking out solutions to increase efficiencies wherever possible. Key areas with room for improvement concerning tech adoption and efficiency include the appraisal and title processes, according to Jennings. “??The

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Appraisal Hub

MARCH 19, 2023

A home appraisal in Toronto is necessary when applying for a mortgage, refinancing, or selling your house. This appraisal will give you critical information to help you make informed choices and understand the true value of the asset. Keep reading to find out more about its significance and understand the appraisal process.

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Appraisal Property Appraisal Sellers Mortgage Appraisal 78

Birmingham Appraisal

SEPTEMBER 15, 2022

What New Homebuyers Need To Know About Appraisals. Buying a home can be a confusing process, however, I hope that you have been able to surround yourself with knowledgable professionals who can help you navigate your first home purchase and make it an enjoyable experience. What is a Mortgage Appraisal?

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Appraisal Inspection Appraisal Process Real Estate Agent 91

DataMaster

APRIL 6, 2021

What is an home appraisal? Why Didn’t My Home Appraise Higher? Appraisals can be confusing. A friend (I’ll call him Art) recently had his home appraised. When the appraisal came back, he was shocked to see that his home appraised for less than two homes nearby that had recently sold.

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Appraisal Appraisal Process Buyers Legal 158