Housing Wire

MARCH 23, 2023

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S.

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Miller Samuel

JULY 19, 2021

To all members of the Appraisal Institute: Before I start, I wanted to share what the Appraisal Institute's MAI designation is referred to by many of its members. Over the last five years, I have frequently been writing about the corruption and self-dealing of the largest appraisal trade group in the U.S.,

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Housing Wire

JUNE 2, 2023

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. Systemic change is needed,” Harris said when sharing the story, according to reporting from The Hill.

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Housing Wire

NOVEMBER 30, 2021

And the appraisal process is no exception. After a summer filled with overwhelming demand and too little appraisal capacity, which increased loan costs and time to close, there is finally light appearing at the end of the tunnel. The appraisal gap for properties in Latino neighborhoods can be even worse, going as high as 9.4%.

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Housing Wire

MARCH 18, 2024

Valuation Selector helps lenders and investors identify the most suitable valuation method (AVM, AVM with inspection, desktop exterior, desktop interior or full appraisal) for a property, depending on its complexity.

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Housing Wire

OCTOBER 2, 2023

Mortgage tech company Xactus announced that its valuation solution Appraisal Firewall X has met federal requirements and is capable of fulfilling Fannie Mae property data collection orders. Xactus Appraisal Firewall X provides data for both processes. Xactus Appraisal Firewall X provides data for both processes.

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Appraiserblogs

MAY 10, 2023

More and more appraisers are retiring every day. Eventually, the opportunists who have been promoting the scam of racial discrimination by appraisers such as career politicians, and ‘anti-discrimination’ software hucksters like Black Knight will be shown to be what they truly are.

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Housing Wire

JUNE 28, 2021

He started contracting with home mortgage lenders to appraise the value of the property tied to a loan. “It He reentered the appraisal business through a different door. He reentered the appraisal business through a different door. It fit well. I have always been good with numbers, and I enjoy looking at houses,” he said.

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Housing Wire

JULY 14, 2023

The National Association of Mortgage Brokers (NAMB) announced this week that it supports new federal regulatory proposals governing the use of automated valuation models (AVMs) in determining property values for mortgage originators and secondary market issuers.

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Appraisal Buzz

APRIL 29, 2024

Mortgage tax escrow payments for local property owners and government processors continue to serve as a crucial source of revenue for local governments. Among these payments, timely settlement of local property taxes holds particular significance.

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Property Taxes Local Properties Mortgage Government 195

Appraisal Buzz

MAY 6, 2024

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. According to Mehlomakulu, ICON’s homes are 350% stronger and are designed to outlive the traditional spec home by nearly triple their life expectancy.

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Housing Wire

JUNE 1, 2023

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

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Housing Wire

OCTOBER 12, 2023

Wholesale lender The Loan Store launched a consumer rewards program designed to help mortgage brokers offer competitive mortgage rates. Founded in 2019, The Loan Store offers mortgage products including conventional, jumbo, VA and non-QM loans.

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Housing Wire

JANUARY 20, 2022

The residential real estate appraisal industry is staring at a fork in the road. The latest reminder is a report released Wednesday from the Appraisal Subcommittee , a part of the federal government in charge of monitoring appraiser standards. appraisers say they are male, 1.3% appraisers say they are male, 1.3%

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Housing Wire

AUGUST 22, 2023

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. The agencies intend to tackle two challenges evident during the Covid-years refi boom: higher costs due to appraiser shortages and concerns regarding bias in home valuations.

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Appraisal Today

MAY 24, 2024

8 Common Violations Made by Appraisers By Dan Bradley When it comes to appraisal non-compliance with USPAP, certain violations are, unfortunately, somewhat common… I have compiled this list based on many years of personal experience as a reviewer and a state regulator, as well as feedback I have received from other states’ enforcement agencies.

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Realvals

JUNE 18, 2023

In today’s dynamic market, there are many situations where you may need a real estate appraisal. An appraisal provides you with the clearest understanding of the value of your real estate. Whether you are buying, selling, or refinancing, an appraisal helps you make well-informed decisions in the process.

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Raleigh Realty

MARCH 29, 2021

Buying a Home As a Government Employee Are you a government employee preparing to buy a home? With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Who Is a Government Employee?

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Housing Wire

MARCH 1, 2023

You use the right comps to appraise it. And the Federal Reserve has asked the nation’s six largest banks to participate in a climate scenario analysis designed to measure and manage climate-related financial risks. For decades, the housing industry has viewed climate risk as a fairly straightforward issue. You build the home to code.

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Housing Wire

SEPTEMBER 13, 2023

The CAPE aPCR tool can be applied across the valuation spectrum—from adding condition validation to an automated valuation model (AVM), to driving appraisal workflows. Fannie Mae in late April said it updated its selling guide to note that appraisals were no longer the default valuation standard.

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Tools Valuation Inspection Investors 361

Appraisal Today

APRIL 26, 2024

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. For appraisals required to be Uniform Appraisal Dataset (UAD) compliant, you must indicate the type of sale for the transaction.

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Appraisal Hub

JANUARY 3, 2023

The number of businesses in Canada’s real estate appraisal industry has expanded by 2.1% If you are interested in becoming a real estate appraiser in Toronto, here are the basics you need to know. What Does an Appraiser Do? Real estate appraisers work to assess the value of land, estates, and other pieces of real property.

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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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. No effect on value.

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Housing Wire

FEBRUARY 23, 2022

The Consumer Financial Protection Bureau (CFPB) announced Wednesday that it may propose a rule to regulate the use of automated valuation models (AVMs) by lenders and appraisers. The government watchdog is concerned that automated valuation models may reflect bias in design and function. CFPB Director Rohit Chopra disagrees. “It

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Housing Wire

NOVEMBER 29, 2022

This was “likely attributable to massive government stimulus and other support programs designed to stabilize the housing market during the COVID-19 pandemic,” according to the report. The ratio remained unchanged in 2019 compared to 29 years ago, the report showed.

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Housing Wire

NOVEMBER 21, 2022

MBA Convergence , “is driving collective action with lenders, other industry participants and government partners to facilitate new solutions to our nation’s rental and housing affordability challenges. Zoning: Ensuring that proposed home designs align with the municipality’s zoning constraints and building codes.

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Appraisal Today

FEBRUARY 9, 2024

How do appraisers consider appliances? also clarifies when appliances are required to be operational by stating, “Appliances that are to remain and that contribute to the market value opinion must be operational,” and, “The Appraiser must note all appliances that remain and contribute to the Market Value.” FHA Handbook 4000.1

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Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. To read the report, click here My comments: Read the appraiser sections in the long report. This is up sharply from 27 percent last year.

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Appraisal Today

AUGUST 18, 2023

7 Must-Have Apps for Appraisers By: McKissock Excerpts: 1. Dragon is very well-liked among appraisal professionals, making it number one on our list of must-have apps for appraisers. Genius Scan This app gets a lot of love from appraisers. Dragon has been around a long time and is popular with commercial appraisers.

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Appraisal Today

JUNE 23, 2023

This Is Where Appraisal Liability Risks Lie (Plus Tips on How to Avoid Them) By: McKissock Excerpts: While it’s difficult for a litigant to win a judgment against an appraiser, that doesn’t spare appraisers the inconvenience of being sued, which can be costly, time-consuming, and harmful to one’s reputation even if the suit fails.

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Appraisal Today

AUGUST 25, 2023

What’s the Average Real Estate Appraiser Salary? Excerpts: On average, appraisers earn $102,620 a year. However… the average appraiser salary varies significantly across license levels. Trainee appraisers earn an average annual income of about $53K. Licensed appraisers earn approximately $89K per year.

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Appraisal Today

AUGUST 13, 2023

ChatGPT: Valuable Tool or a Replacement for Real Estate Appraisers? I have not had time to use it, but have been reading and watching demos about how it can be used for appraisers for awhile. Appraisers there regularly value homes with small vineyards, sometimes leased to wine makers. Isn’t that Just PAVEY!

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Appraisal Buzz

MAY 31, 2021

A husband and wife requested a bank appraisal to refinance their Jacksonville, Florida home. Only the wife was at home to greet the appraiser when they arrived to inspect her home. When the couple received the final appraisal report of their home’s value, they were shocked! Beyond the Headlines: Residential Appraisal Review.

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Appraisal Today

MARCH 15, 2024

How To Appraise Rural Properties Excerpts: Appraising residential properties in rural areas can be both challenging and rewarding. Whether you’re a seasoned appraiser or new to the field, having a better understanding of rural properties is essential for providing credible appraisals. Well written.

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Realtor

JUNE 1, 2021

Biden’s administration announced on Tuesday it was launching an interagency effort to combat unfair appraisals for homeowners of color and fight inequality in the real estate sector. The challenge in leveling the appraisal playing field is many older homes and neighborhoods were designed with the opposite goal in mind.

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Boston Appraisal

MAY 15, 2024

Understanding Zoning Laws and Land Use Regulations Zoning laws are specific ordinances set by local governments, defining how properties in designated areas can be used. Commercial Zoning and Regulations: These govern land used for businesses, including shops, offices, and entertainment venues.

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