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Opinion: The path to modernizing the appraisal process

Housing Wire

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. The modern appraisal movement is accelerating. Consider that, per recent research by Freddie Mac , 12.5%

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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. .

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CubiCasa’s free SaaS technology has helped create more than 1 million floor plans to date

Housing Wire

Users can complete a schematic 2D floor plan using just a smartphone, with no training or cost required. To continue to modernize the valuation process and achieve its goal of drastically increasing the number of floor plans in the U.S., Users have the ability to leverage CubiCasa’s technology without prior training.

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OCC used “outdated, unclear” guidance for redlining exams

Housing Wire

Emanuel Cleaver of Missouri asked the Government Accountability Office (GAO) to review the OCC’s fair lending oversight. In response to the GAO report, the OCC said it would update guidance for redlining examinations and develop examiner training. Democratic lawmakers Rep. Joyce Beatty of Ohio, Rep. Gregory Meeks of New York and Rep.

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Clear Capital Launches Property Valuation, Risk Assessment APIs for Streamlined Access to Modern Valuation Solutions

Clear Capital

Each API connects directly into existing systems through a single integration for lenders, investors, and system providers, making it easier to adopt and deploy modern property valuation solutions. ” Over the past year, the government-sponsored enterprises (GSEs) have made sweeping changes around modern valuation solutions, and ?? .”

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The hybrid appraisal is here. Who benefits?

Housing Wire

Starting in July, the government-sponsored enterprise will allow remote inspections on some refinance loans it buys. Freddie Mac requires data collectors to be trained, but that training need not be in person. Both ProxyPics and Clear Capital provide virtual training for their property data collectors.

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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

Modernization will either take root and flourish throughout every branch of the mortgage industry, or our industry could miss a critical window to introduce meaningful reforms. In fact, real estate professionals are accountable to the exact same type of state government licensing requirements and regulatory frameworks that appraisers are.

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