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Appraisers raise alarm on AMC revenue-sharing models

Housing Wire

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. In 2023, nearly half of appraisers surveyed said fee pressure was their biggest challenge, up 20 percentage points since last year.

Appraisal 369
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FHFA will host second public forum on appraisal bias

Housing Wire

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

Appraisal 376
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Xactus names chief operating officer

Housing Wire

Mortgage technology firm Xactus named Michael Crockett as its chief operating officer. The executive has more than 25 years of mortgage industry experience in helping lenders mitigate risk. Xactus provides solutions that include credit reporting, online verifications, fraud detection and property appraisal.

Tenants 351
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California couple sues appraiser for race discrimination

Housing Wire

A San Rafael, California real estate appraiser is being sued for allegedly undervaluing a home by almost 50% because the homeowners are Black. Miller of Miller & Perotti Real Estate Appraisal and AMC Links LLC , an appraisal management company headquartered in Lehi, Utah.

Appraisal 394
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Will hybrid appraisals become the new normal?

Housing Wire

The Federal Housing Finance Agency (FHFA) announced Monday it is requesting input on the appraisal policies, practices and processes of Fannie Mae and Freddie Mac, especially as it relates to the GSEs’ appraisal modernization efforts. Low mortgage rates fuel the demand for valuation and settlement services.

Appraisal 458
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What to do about the appraiser shortage

Housing Wire

What a two-year stretch it has been for appraisers. The appraisal workforce was already in decline in 2019. To compound matters, homebuyer demand skyrocketed thanks to historically-low mortgage rates and societal changes. These factors combined to throw the appraisal industry in flux.

Appraisal 432
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

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.

Appraisal 397