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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. ” Another trade group weighed in on the newly proposed rule.

Valuation 364
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Going to Extremes

Appraisal Buzz

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. 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
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CFPB wants lenders to disclose reason for denial of credit

Housing Wire

The requirement also applies to mortgage lenders, legal experts say. The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”.

Law 447
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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). Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry.

Valuation 311
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5 Resources to Protect Your Appraisal Practice

McKissock

Luckily, there are steps you can take to limit your legal liability and keep yourself and your business protected. Craig Capilla will discuss the legal ins and outs of the engagement letter to put appraisers in the best position to satisfy client expectations and limit liability. About the presenter. Learn more with our free guide.

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Choosing the Right Appraiser: A Guide for Agents, Attorneys, Accountants, and Homeowners

Birmingham Appraisal

Whether you’re a homeowner looking to make improvements, an agent who needs a pre-listing appraisal, or an attorney or accountant who requires a certified appraisal, a well-qualified and experienced appraiser is essential for accurate property valuation.

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Non-Arms Length Sales for Appraisers

Appraisal Today

Acres: 0.7960055, built in 1993 The residence in Poipu was built in 1993 and designed by Seattle architect Ralph D. In the 1930’s, appraisers (then known as valuators) were instructed to follow a rating system. . = Oceanfront Estate on Kauai’s South Shore $13,995,000 Excerpts: 4 bedrooms, 4 baths, 3,706 sq.ft., built in 2000.