Appraisal Buzz

MAY 6, 2024

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. ICON, an Austin based firm, has developed a 3D printed wall system. Areas more exposed to such risk are likely to see increased volatility in valuations.”

HOA 370

HOA Insurance Legal Fees Valuation 370

Housing Wire

JUNE 21, 2023

Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry. At the top of the list of housing issues the Bureau will aim to address is a rule related to automated valuation models (AVMs). While only a fraction of the total items on the agenda for the U.S.

Valuation 336

Valuation Finance Legal Development 336

McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.” Stay tuned.

Valuation 91

Valuation Property Appraisal Training Appraisal 91

Appraiserblogs

OCTOBER 12, 2022

The government wants to move to a fully automated appraisal format, and the more that they can dirty the narrative in their favor, the quicker they get to their objective… This just in: In a recent memo, the CFPB wants you to know that if you are buying a home, that you can contest your appraisal. A lot of appraisers feel that way.….

Government 130

Government Appraisal Valuation Development 130

Housing Wire

MARCH 23, 2023

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. Led by U.S. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

Appraisal 372

Appraisal Reconsideration of Value Valuation Training 372

Housing Wire

APRIL 9, 2021

“This strategic acquisition bolsters recurring revenues and accelerates the development of Voxtur’s data ingestion engine, allowing clients to achieve optimal efficiency and cost savings,” Voxtur said in a statement. Canadian real estate technology company Voxtur Analytics Corp. million, the company said this week.

Appraisal 381

Appraisal Valuation Real Estate Agent Real Estate 381

Housing Wire

SEPTEMBER 28, 2021

“We have 10 times more AMCs per capita than New Zealand and Australia,” said Lyle Radke, director of collateral policy at the powerful government-sponsored enterprise. Housing and Urban Development is running a task force to combat inequality in appraisals. Why is that?”.

Valuation 402

Valuation Appraisal Process Appraisal Government 402

Housing Wire

MAY 27, 2022

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.”. The requirement also applies to mortgage lenders, legal experts say.

Law 417

Law Legal Valuation Government 417

Housing Wire

JANUARY 25, 2023

Real estate valuation technology company Clear Capital has conducted a new round of layoffs as part of a company restructuring plan. We looked at this as not just an adjustment to the current market climate, but also looking at the current shift that’s happening in the valuation industry.

Valuation 394

Valuation Technology Modernization Appraisal 394

Housing Wire

OCTOBER 4, 2023

Top recommended AI application ideas included compliance, underwriting and property valuation. About 22% of surveyed lenders responded they started deploying AI or ML on a limited or trial basis, a jump from only 13% in 2018. A total of 242 senior executives from 219 lending institutions completed the survey between Aug.

Technology 386

Technology Lending Valuation Mortgage 386

Housing Wire

JUNE 1, 2021

Housing and Urban Development Secretary Marcia Fudge joined Biden to mark the 100th year since a white mob killed hundreds of Black residents of the Greenwood District. How hybrid title and valuations help increase lending efficiency. Developers, lenders or local governments could compete for the funds through an application process.

Renovations 505

Renovations Development Investors Legal 505

Housing Wire

JANUARY 12, 2024

As a marketer by profession, I tend to put these companies into categories to create a narrative and to develop brand specificity. There are hundreds of companies that help with various parts of the transaction and process “supply chain,” from search and valuation to closing, from appraisal to title, from targeting to closing.

Supply Chain 389

Supply Chain Finance Development Modernization 389

Housing Wire

JANUARY 31, 2021

Clear Capital’s suite of field valuations, real estate analytics, and platform technology solutions help servicers prevent fraud, check the accuracy of completed appraisals and broker price opinions (BPOs), conduct portfolio valuation analysis and updates, and help with disposition analysis on distressed loans.

Valuation 249

Valuation Technology Development Real Estate 249

Housing Wire

NOVEMBER 17, 2022

The residential appraisal space has been rocked by increased federal scrutiny over the past two years, with several agencies studying whether appraisers let racial bias change their valuations. In late October, the Federal Housing Finance Agency released 47 million appraisal reports to the public for the first time.

Appraisal 350

Appraisal Valuation Modernization Property Appraisal 350

Appraiserblogs

JANUARY 8, 2024

The seeming destruction of the appraisal profession by the federal government, GSEs and lending stakeholders is a collective action problem. Appraisal waivers, hybrid appraisals, automated valuation models, all based on the last 13 years of data collection by an entity I will call Goliath has created a paradoxical inversion of.

Appraisal 131

Appraisal Valuation Lending Contracts 131

Housing Wire

JANUARY 3, 2022

Clear Capital’s data science team developed the product and built it into the already existing platform, a review system that automates collateral underwriting in compliance with internal credit policies and government-sponsored enterprise guidelines. According to a recently published study by the U.S.

Tools 415

Tools Appraisal Appraisal Process Real Estate 415

Appraiserblogs

MARCH 7, 2024

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate.

Modernization 141

Modernization Appraisal Valuation Appraisal Process 141

Housing Wire

FEBRUARY 24, 2023

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. That means development can start this year, so the industry is ready to roll out the new forms in 2024.

Appraisal Process 347

Appraisal Process Appraisal Reconsideration of Value Valuation 347

Housing Wire

NOVEMBER 11, 2021

In September, Biden’s administration also called on state and local governments to “reduce zoning and financing barriers to these kinds of housing – housing that allows families to achieve homeownership and build wealth.”. How Freddie Mac is addressing affordable housing challenges. Presented by: Freddie Mac.

Finance 446

Finance Valuation Insurance Lending 446

Housing Wire

JUNE 8, 2022

The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. We look forward to working with the enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans.”.

Development 348

Development Finance Government Lending 348

Housing Wire

MAY 23, 2023

In March , Fannie Mae released an update to its Seller’s Guide that outlined more options for property valuations, including value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals. These additional valuation options will lessen the opportunity for appraisal bias.” Johnson said.

Technology 368

Technology Appraisal Lending Valuation 368

Appraisal Buzz

FEBRUARY 7, 2022

During 2020 and 2021 as the Covid-19 pandemic global pandemic disrupted our lives and the way we all do business, regulators, agencies, and the government sponsored enterprises allowed inspection relief in certain circumstances. Inspection relief was successful as lenders and appraisers developed appropriate processes.

Appraisal 435

Appraisal Inspection Development Technology 435

Housing Wire

AUGUST 25, 2022

With recent developments from Fannie Mae and Freddie Mac to pursue a more digital appraisal process that could both speed up the process and remove any unconscious bias from it, it is important for industry professionals across the space to stay at the top of their game. That is why HW Annual Oct. That is why HW Annual Oct.

Appraisal 378

Appraisal Modernization Appraisal Process Technology 378

The Appraiser Coach

JANUARY 2, 2024

Everyone has their opinion, and there are many who are not in favor of this new development. The point is simple; you have options both inside and outside the valuation profession. It can be so easy for us sometimes to feel trapped. There’s been a lot of talk recently about desktop appraisals.

Appraisal 195

Appraisal Valuation Development Inspection 195

Housing Wire

AUGUST 11, 2020

Shockingly, the gap is wider than it was in 1968, when the federal government first outlawed racially based housing discrimination. For example, many appraisers were artificially inflating home valuations to cover the assistance, driving housing prices to insupportable highs from which they eventually crashed.

Government 417

Government Sellers Development Mortgage 417

Housing Wire

AUGUST 7, 2023

The result is higher costs, lower productivity, unmeasured quality, and systemic exposure as government monopolies take most of the risk and make most of the money. Technology hasn’t been the barrier since 1998 when Equifax, and later other firms, developed systems to secure complex, multi-party transactions over the Internet.

Real Estate 357

Real Estate Supply Chain Architecture Brokerage 357

Appraiserblogs

MAY 26, 2022

A new press release from Class Valuation, one of the largest US based AMCs, scampered across my office threshold on 5/17/22. How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. But the push this times seems to be “only for certain people.

Modernization 121

Modernization Valuation Appraisal Government 121

Cleveland Appraisal Blog

JUNE 18, 2022

But once these qualities are developed, many appraisers find eminent domain work to be interesting, challenging but worthwhile, and financially rewarding. Eminent domain or the power of the government to take private property for a public use without the landowner’s consent is embedded in the Fifth Amendment to the U.S.

Appraisal 309

Appraisal Law Development Valuation 309

Housing Wire

MAY 23, 2022

Meanwhile, the Department of Housing and Urban Development (HUD)recently extended its timeline for allowing desktop appraisals for certain transactions impacted by the pandemic. Both Fannie Mae and Freddie Mac now allow appraisals to be conducted remotely, using public records such as listings and tax appraisals, for purchase loans.

Law 395

Law Appraisal Modernization Appraisal Process 395

Boston Appraisal

FEBRUARY 11, 2024

Introduction Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. Preservation restrictions, often governed by the National Register or local historical commissions, can add value by ensuring the property’s integrity.

Appraisal 147

Appraisal Renovations Architecture Appraisal Process 147

Housing Wire

JULY 5, 2022

Real estate valuation technology company Clear Capital rolled out two application programming interfaces (APIs) that aim to make adopting and deploying modern valuation solutions easier, ultimately closing loans faster. Using automated valuation models “leads to relatively lower racial gaps,” according to Freddie Mac. .

Modernization 380

Modernization Valuation Property Taxes Appraisal 380

Housing Wire

NOVEMBER 17, 2022

But, to date, it’s not been altered,” said Michael Carnes, managing director of the MSR Valuation Group at the Mortgage Industry Advisory Corporation (MIAC). Government and conforming loans held for sale would have a 20% risk weight. . “That’s the ‘elephant in the room’ right now.

Marketing 396

Marketing Lending Mortgage Valuation 396

Appraisal Buzz

OCTOBER 10, 2022

I have weathered seasons marred by valuation professionals whose malfeasance adversely impacted the economy and society. The future of the valuation profession is not certain to me. Technological advances suggest we need to move toward automated valuation models that churn data through automated algorithms to produce valuations.

Valuation 74

Valuation Tools Development Technology 74

Housing Wire

OCTOBER 14, 2022

His work focuses on helping Freddie Mac develop its economic outlook, including forecasts of trends in the economy and housing markets. Burns specializes in real estate market research, housing analysis, strategic planning, financial analysis and valuation. His account includes data from a variety of sources, including JBREC.

Housing Market 467

Housing Market Marketing Real Estate Finance 467

Appraisal Buzz

AUGUST 1, 2022

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. The post The Value of Words in Valuation appeared first on Appraisal Buzz. Summary, What Does it Mean? i] [link].

Valuation 360

Valuation Contracts Appraisal Legal 360

Housing Wire

MARCH 31, 2021

The seven rescissions will be effective Thursday, April 1, with the government agency noting that it intends to exercise the full scope of its supervisory and enforcement authority provided under the Dodd-Frank Act. In one of its key decisions, the CFPB said it will roll back its leniency on reporting Home Mortgage Disclosure Act data.

Insurance 407

Insurance Appraisal Development Lending 407

Appraiserblogs

AUGUST 16, 2023

Nowadays, it appears that government efforts, aimed at curbing discrimination, are actually leading to increased pressure on appraisers to inflate values. This is a troubling development for honest appraisers who may be feeling more pressured than ever before by those looking for higher numbers than what an accurate appraisal would yield.

Appraisal 102

Appraisal Government Real Estate Development 102