Remove Government Remove Inspection Remove Modernization Remove Training
article thumbnail

Xactus’ valuation solution approved to fulfill Fannie Mae’s property data collection orders

Housing Wire

Appraisal Firewall X connects mortgage lenders with vetted and trained property data collectors to deliver the value acceptance + property data and hybrid appraisal solutions, the company said in a release. ” Fannie Mae’s program is part of its ongoing efforts to modernize the valuation component of the mortgage industry. .

Valuation 368
article thumbnail

The hybrid appraisal is here. Who benefits?

Housing Wire

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

Appraisal 405
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Race and the Property Valuation Industry

Appraisal Buzz

Only the wife was at home to greet the appraiser when they arrived to inspect her home. The term “redlining” comes from the development by the New Deal by the federal government of maps of every major metropolitan area in the country. A husband and wife requested a bank appraisal to refinance their Jacksonville, Florida home.

Valuation 370
article thumbnail

The Hybrid Appraisal: It’s Cheaper, but Does It Protect Homebuyers?

Realtor

“For a hybrid appraisal, the inspection, sketch, and photos are completed by a third party,” says Matthew Love , a HUD/FHA-approved Certified Residential Appraiser at Real Estate Bees. The hybrid appraisal uses a form almost identical to the URAR, but the appraiser doesn’t go to the property.

Appraisal 107
article thumbnail

Unequal Opportunity: Addressing appraisal bias is another step toward making housing more equitable

Clear Capital

government made bold steps to support homeownership through the GI Bill. Before that, the government addressed these issues through housing programs started under the New Deal. The government-sponsored enterprises (GSEs) Freddie Mac and Fannie Mae have released research addressing the existence of substantial appraisal gaps.

article thumbnail

Why Manufactured Housing Deserves a Fresh Look

Genworth MI Blog

In fact, some of the modern manufactured homes are constructed with a level of quality, features, and amenities that exceed those found in many new site-built homes. predictable scheduling, no weather delays, ease of inspection, etc.). Myth 2: Manufactured Homes Are Lower Quality Than Site-Built Homes. can work at night).

article thumbnail

Understanding desktop appraisals and how to use them for home valuations

Clear Capital

The mortgage industry is on its way to modernizing the appraisal process. In early February, Fannie Mae and Freddie Mac, the government-sponsored entities (GSEs), incorporated desktop appraisals into their Selling Guides beginning in March 2022. Keep reading to understand the new guidelines and what they mean for the mortgage industry.