Housing Wire

AUGUST 31, 2023

However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. How do the solutions work? Why do we need them?

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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 Buzz

JULY 5, 2022

We live in unprecedented times regarding appraiser scrutiny. Fannie Mae and Freddie Mac review appraisals using Collateral Underwriter and Automated Collateral Evaluation. State boards field complaints about appraisals, often when appraised value is below sales contract price. There is no such thing, not anymore.

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Appraisal Buzz

JUNE 27, 2022

Class Valuation, McKissock, and DataMaster are hosting a Free webinar on “ Staying Relevant in the Appraisal Industry ” June 28th at 2 pm with Mel Black, Matt Simmons, Jared Preisler, and Lamar Ellis. Buzz: What is your background in the appraisal industry? Buzz: What are some of the ways appraisers have evolved with new tech?

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Housing Wire

AUGUST 1, 2023

Their collective expertise spans the entire spectrum of the sector, encompassing areas such as lending, tech, real estate, appraisal, compliance, operations, sales and so much more. The following list of honorees comprises many more examples of exceptional leadership from some of the industry’s most accomplished women.

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Housing Wire

APRIL 11, 2022

Modern technology is key for lenders who want to stay competitive in this regard. In addition, modern tools can help eliminate manual errors and spot potential issues to reduce unnecessary costs. While it is not without its challenges, there have been many upsides to lending employees working remotely.

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Appraisal Today

APRIL 19, 2024

Appraisal Institute Counters Flawed Appraiser Bias Narrative Excerpts: In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Industry groups should also step up to support appraisers. It is human nature.

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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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Appraiserblogs

MARCH 10, 2021

An appraiser shared the following with us which was posted on one of the appraisers’ groups. the new form is not to put appraisers out of business. the previous forms were designed for a typewriter.... the new form is not to put appraisers out of business.

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Appraisal Today

JANUARY 5, 2024

Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. I suppose it is because most appraisals are done (now) for residential lending purposes.

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Birmingham Appraisal

AUGUST 2, 2023

A Guide to Selecting the Right Appraiser Selecting a real estate appraiser is a crucial decision that can significantly impact your financial transactions and investments. Certification and Licensing Appraisal standards and regulations are vital to maintaining the integrity of the profession.

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Appraisal Today

JULY 28, 2023

Keeping Appraisers out of Language Purgatory Appraisers: Be Careful with Your Words! by Dave Towne Excerpts: Appraisers, on July 17, 2023, a document from Freddie Mac was circulated to numerous appraisers around the US which identified certain words and other info that can be considered to be ‘BIASED’ in appraisal reports.

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Appraisal Today

MAY 19, 2023

Chat GPT For Fannie Form Appraisal Reports By Dustin Harris Excerpts: The world of real estate appraisal is constantly evolving (much to our dismay sometimes), and as professionals in this field, it is crucial to stay ahead of the curve by embracing innovative tools and technologies. The answer is, Yes!

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Appraisal Today

AUGUST 5, 2022

VA Approves Desktops and Exterior-Only Appraisals. The use of a Desktop Appraisal may allow an appraiser from outside the market area, but with appropriate credentials for the jurisdiction of the property, to complete the assignment when no local VA fee panel appraiser is available.”. “The Appraisal Assignment Waterfall.

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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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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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Appraisal Today

FEBRUARY 24, 2023

What Level Appraiser Are You? What is the mark of an appraiser who is at the top of his or her “game”? For example, are you competent to prepare an entire appraisal from start to finish? But what if the appraisal form was completely blank with no boilerplate text? A Level 1 appraiser checks boxes.

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Appraisal Today

DECEMBER 16, 2022

Industry Insider Insight on Risk and Modernization. Excerpts: The Collateral Risk Network (CRN) met in Sarasota on December 6th to discuss a variety of issues ranging from appraisal turn times to Fannie Mae’s economic outlook for 2023. Appraisers were encouraged to provide convenience as one aspect of quality. Worth attending.

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Housing Wire

SEPTEMBER 21, 2021

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. How increased regulation presents a huge opportunity for lenders. Learn more here!

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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

DECEMBER 6, 2021

So far his venture-backed title company has launched platforms that have sped up title clearance and title insurance acquisition, and they have their sights on expanding into the lending and appraisal space. The post In the race to modernize title, firms double down on software appeared first on HousingWire.

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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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Appraisal Today

FEBRUARY 23, 2024

I quit making dollar adjustments on form appraisals many years ago, but I always do market conditions adjustments when needed. I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps. I do a lot of estate appraisals, which are not current value. Isn’t appraising boring? Excerpts: 8 bedrooms, 7.5+

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Eppraisal

AUGUST 22, 2023

These tools are designed for user-friendliness, accessibility, and convenience. They delve into complex property data, market trends, and economic indicators to provide accurate valuations for portfolios, investments, and lending purposes. On one end, we find Consumer AVMs, such as those used by platforms like Zillow and eppraisal.com.

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Appraisal Today

NOVEMBER 17, 2023

4 Myths About Property Data Collection By McKissock Excerpts: Myth #1: PDC is the same thing as property appraisal As a professional appraiser, you know very well that what a property data collector does is not the same as what you do — even if your clients don’t always understand the difference. Trainees can do them.

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Housing Wire

OCTOBER 6, 2020

Lending technology out of focus. However, the back-office efficiencies that were supposed to result from collecting all of the borrower’s financial information into the loan origination system (LOS) electronically – a revolutionary result of the application of big data principles to the mortgage lending lifecycle – never materialized.

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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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Listing Spark

AUGUST 17, 2023

These loans, insured by the Federal Housing Administration (FHA) and designed to help homebuyers with low credit scores and low down payment savings, are generally off the table for anything besides a primary residence. The buyer cannot pay for the second appraisal, which means the $300–$400 bill falls on the seller.

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Appraisal Today

JULY 29, 2022

More Terrible Real Estate Agent Photos for Appraisers. Appraising Weird Stuff is Challenging! Appraisal Business Tips . Humor for Appraisers. Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! New in the August 2022 Issue of Appraisal Today.

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Appraisal Today

NOVEMBER 20, 2022

Sins of the Past Are Back to Haunt Appraisers. Fannie Mae Takes A Closer Look at Appraisals. Excerpts: In the recent past, when appraisers were swamped. Even with the Collateral Underwriter program review, appraisers were overwhelmed. Tier 1 appraisers have little to fear but tier 2 and 3 appraisers….

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Appraisal Today

SEPTEMBER 17, 2022

Appraisers: What should you have in your car? Mace or pepper spray: To defend yourself, especially if you’re appraising REO and foreclosure properties. This was originally posted on McKissock’s Appraisal Blog, but that link was not working. Appraisers – The Past and The Future. Appraisal Business Tips .

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Appraisal Today

NOVEMBER 10, 2023

More Objective Appraisals: A Practical Guide for Appraisers By Scott Reuter Single-Family Chief Appraisal Officer, Freddie Mac Excerpts: Changing the Mindset – Facts First What’s the number one thing appraisers should be doing when they develop an appraisal? Stick to the facts. Not just a list of words and phrases.

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Appraisal Today

MAY 26, 2023

MPR Repairs: Guidance for FHA Appraisers By: McKissock Excerpts: If you are appraising a property that needs some cosmetic repairs but meets FHA minimum property requirements (MPR) in its current condition, you should make the appraisal “as-is.” Conservation easement appraisals are a definite risk for appraisers.

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Clear Capital

APRIL 21, 2021

Through a digital platform built from the ground up by industry and data experts, AppraisalVision is transforming the appraisal and appraisal review processes for lenders, appraisal management companies (AMCs), and appraisers. ” ###. ” ###. . ” ###.

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McKissock

NOVEMBER 24, 2022

Here at McKissock, our Unlimited Learning Members enjoy 24/7 access to a wide variety of online resources for real estate appraisers. These include top-rated appraisal job aids, checklists, classes, webinars, and more. This infographic showcases the 10 most common ceiling types found in historic and modern homes.

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Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry. Valuation Equity.

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Appraisal Today

SEPTEMBER 9, 2022

Maintain USPAP compliance – Confirm the ROV request came from your client, either directly or through the client’s AMC, acting as an agent for the client, or other party designated as an agent by the client. My comments : ROVs are a PITA for many appraisers. Greg Stephens is a very experienced appraiser and reviewer.

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