Appraisal Buzz
AUGUST 1, 2022
When reading contracts, words will always have their ordinary meaning unless defined otherwise. a rule in statute or contract interpretation: when the language is unambiguous and clear on its face the meaning of the statute or contract must be determined from the language of the statute or contract and not from extrinsic evidence [i].
Appraisal Buzz
OCTOBER 4, 2021
Freddie Mac (OTCQB: FMCC) today released an analysis showing that appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households, resulting in an appraisal gap. MCLEAN, Va. for those in White tracts, leading to a gap of 5.2%.
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Housing Wire
MAY 21, 2024
Use online valuation tools Though they’re not perfect, online valuation tools can offer estimates based on public records and algorithms. Appraisers have access to detailed property information, and while they may not disclose exact sales prices, they can provide insights into the valuation process.
Housing Wire
JUNE 6, 2023
Keith Austin has been promoted to director of asset management and valuation services. He will also continue to oversee the valuation team, which handles valuation requests from operations and ensures compliance with regulatory requirements. Cenlar FSB , the second-largest mortgage servicer and largest subservicer in the U.S.,
Housing Wire
SEPTEMBER 20, 2021
Appraisals in Black and Latino neighborhoods are more likely to fall short of the contracted sale price, a Freddie Mac study of 12 million appraisals found. While only 7% of appraisals undershoot the contracted sale price in census tracts where at least half the population is white, that percentage is much higher in minority tracts.
Housing Wire
DECEMBER 14, 2021
The Federal Housing Finance Agency (FHFA) is the latest stakeholder to examine how racial bias may creep into property valuations. It’s unclear whether the inclusion of references to race in appraisal reports reveals bias in the valuation process or introduces it.
Housing Wire
NOVEMBER 30, 2021
The movement to embrace appraisal modernization techniques also holds the promise of removing the potential for racial bias, better supporting efforts to remove valuation gaps that persist in minority neighborhoods. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4%
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