Appraiserblogs

MARCH 17, 2022

Here’s the link to the ‘slide show’ the GSE’s have produced showing proposed design of the future, revised, URAR appraisal form. If this is what the final version will be like, the appraiser’s time to ‘complete the form report’ may increase exponentially. It may mean that the cost of the appraisal will increase.

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Appraisal Buzz

MAY 14, 2024

Mitch Bledsoe has been promoted to chief technology officer for LERETA , which provides real estate tax and flood services for mortgage servicers. As CTO, Bledsoe will be responsible for all aspects of LERETA’s technology innovation and design, infrastructure and application management, and data service offerings.

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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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Clear Capital

JULY 13, 2023

Through this integration, Clear Capital will deliver an improved user experience for mortgage lenders and loan officers ordering products that support appraisal modernization, such as Universal Data Collection (UDC ) , Desktop appraisals and Hybrid appraisals. To learn more about Encompass, visit [link].

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Appraisal Buzz

OCTOBER 11, 2021

Tell someone that you’re a professional fee appraiser and most folks won’t have any idea what that really means. If they’re in the mortgage industry, they’ll likely fall into one of two groups – those who understand the value you bring to the home finance transaction and those who think you fill out forms. Think of oral care.

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Appraisal Buzz

MARCH 25, 2024

Designed by warehouse lenders and built with modern technology, the platform features APIs that enable seamless integrations and automated workflows with both internal and third-party vendors’ systems. The post Forta Solutions Reports First Warehouse Loan Funded Through its Agility Platform appeared first on Appraisal Buzz.

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Clear Capital

AUGUST 30, 2023

AURA is the first AI-driven appraisal review solution in API format that enables lenders to automatically assess images, text and floor plans. LenderX is the first Clear Capital partner to provide lenders with access to AURA, giving them a competitive advantage in streamlining the traditional and hybrid appraisal review process.

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Appraisal Buzz

APRIL 10, 2024

Floify , a point of sale solution for mortgage lenders, now pre-populates loan applications for borrowers using data on file in Total Expert. This feature is designed to streamline the loan origination process and enhance the application experience by reducing redundant data entry.

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Clear Capital

FEBRUARY 2, 2022

It’s an exciting time in the mortgage industry, especially for appraisals. Over the past few years, leading companies from across the industry have modernized and transformed how appraisals are manufactured to streamline the lending process and improve the borrower’s experience.

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Appraisal Today

MAY 17, 2024

What Tools Do You Use to Support Your Appraisal Adjustments? By McKissock As part of our monthly survey series, we asked our community of real estate appraisers, “What tool(s) do you use to support your appraisal adjustments?” A few sample appraiser comments: “I am capable of determining the adjustments without any software.

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Clear Capital

MARCH 2, 2023

Clear Capital Announces Universal Data Collection in Support of Fannie Mae Appraisal Modernization Policy Changes UDC data set provides lenders with immediate national scalability, interchangeability and less complexity for loan management Reno, Nev.

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Housing Wire

APRIL 11, 2022

More and more borrowers are looking for a fast, effective mortgage process that involves less paper. We recently spoke to Amanda Hill, Head of Mortgage Solutions at Reggora, about actionable steps lenders can take to overcome barriers to automation. Modern technology is key for lenders who want to stay competitive in this regard.

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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 Buzz

MAY 6, 2024

If this trend continues, consumers and appraisers will need to have a heightened awareness of where and how insurance pricing or availability is affecting house prices.” 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

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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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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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

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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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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Clear Capital

MARCH 1, 2022

Enhanced program designed to accelerate adoption of modern appraisal solutions by lenders. Clear Capital invites partners to join them in achieving a shared goal of bringing appraisals along on a digital transformation journey. March 1, 2022 —.

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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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Housing Wire

AUGUST 1, 2023

From leading mortgage companies and real estate firms to spearheading groundbreaking initiatives and driving policy reforms, these honorees are making an indelible impact on housing.

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Appraisal Today

DECEMBER 29, 2023

Understanding Functional Obsolescence in Appraisals By: McKissock Excerpts: For appraisers, functional obsolescence can be a challenging concept because the elements that influence property values may not be obvious or immediately apparent. To read more, Click Here My comments: All appraisers see functional obsolescence.

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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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Housing Wire

FEBRUARY 16, 2021

Out of necessity, the pandemic spurred numerous changes in the mortgage process, including appraisals. Reggora is a venture-backed startup that provides software to speed up the appraisal process for mortgage lenders and real estate appraisers.

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Miller Samuel

APRIL 27, 2019

After years of AMCs chipping away at the public trust, the New York AMC law was designed to protect the consumer. When the draft of the bill was approved by the NYS Board of Real Estate Appraisal , Carol DiSanto who is the Vice Chair, walked it across the street to The New York State Association of REALTORS (NYSAR). No, it isn't.

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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

JULY 1, 2023

Lenders Not Using AMCs for Appraisals By: McKissock June 23, 2023 Excerpts: Some appraisers seek alternate ways to find work outside of appraisal management companies (AMCs). Below are helpful tips on how to find financial institutions and banks that engage appraisers directly on fee panels. More Crazy Appraiser Stories!

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Appraisal Today

JUNE 16, 2023

Excerpts: Following that thought process, our appraisal language has simply got to change to reflect current times. In addition, our lenders and GSE’s are implementing tools and programs to identify when “Certain prohibited, subjective or potentially biased words or phrases are included in appraisal reports.”

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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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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

OCTOBER 27, 2023

Strange Encounters in Property Appraisal By: McKissock Excerpts: Property appraisal is not typically thought of as a “dangerous” profession per se. Recently we asked our appraisal community, “What’s the weirdest property you’ve appraised recently?” I worked for an assessor’s office for 5 years in my first appraisal job.

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Appraisal Today

JULY 7, 2023

Appraiser Countersues Black Plaintiffs Who Alleged Discrimination by Isaac Peck, Publisher WorkingRE There are now a number of lawsuits facing appraisers where the primary allegation is racial discrimination. I assume that since I had been appraising in high crime neighborhoods, I became prejudiced. Tate-Austin v.

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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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Clear Capital

MARCH 30, 2022

Enhanced program designed to accelerate adoption of modern appraisal solutions by lenders. Clear Capital is now offering Desktop Appraisal, a GSE-compliant 1004 Desktop/70D residential appraisal that quickly delivers a reliable opinion of value with price certainty. March 30, 2022 —.

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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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