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Finance of America CEO Patti Cook announces retirement

Housing Wire

Multichannel lender Finance of America (FOA) announced Thursday its chief executive officer, Patti Cook , will retire as soon as the company finds a successor. HousingWire recently spoke with Bill Dallas, President of Finance of America Mortgage, to discuss how brokers can leverage technology to accommodate today’s unique homebuyer.

Finance 374
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Collateral Risk Network Names Jeremy Staudenmaier 2022 Valuation Visionary

Appraisal Buzz

The Collateral Risk Network (CRN) announced today that Jeremy Staudenmaier, director of product management at ACI , a leading provider of workflow solutions for the valuation industry for nearly 40 years and a member of the First American family of companies, has been chosen as the CRN 2022 Valuation Visionary.

Valuation 195
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Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

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.”

Valuation 397
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Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). the trade groups state. Department of the Treasury ; and the Federal Reserve System. .

Valuation 370
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CFPB spring agenda aims to tackle AVMs, overdraft fees, FCRA and more

Housing Wire

At the top of the list of housing issues the Bureau will aim to address is a rule related to automated valuation models (AVMs). The Agencies expect to issue a proposed rule to implement the Dodd-Frank Act’s AVM amendments to FIRREA in June 2023.” Initial pre-rule action on the matter is expected this coming November, according to the agenda.

Valuation 367
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White House marks one year of PAVE appraisal bias action plan

Housing Wire

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. HUD also announced this week that it had awarded $54 million in grants across 42 states designed to curb appraisal bias.

Appraisal 384
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Going to Extremes

Appraisal Buzz

I recently attended the Going to Extremes conference in DC on April 18-19, which focused on how climate change is affecting the US housing and finance industries. According to Mehlomakulu, ICON’s homes are 350% stronger and are designed to outlive the traditional spec home by nearly triple their life expectancy.

HOA 370