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How data and technology can combat appraisal bias

Housing Wire

In the past few years, appraisal bias has come to the forefront of conversations about appraisals and how they can be improved. Today, we actually have an opportunity to combat it in a way that we didn’t have five or 10 years ago, which is leveraging automation, artificial intelligence (AI) and machine learning.” Johnson said.

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3 misconceptions about using AVMs in home equity lending

Housing Wire

With 2022 more than halfway behind us, economic indicators continue to forecast minimal refinance volume while purchase volume faces its own headwinds. Misconception #1: You need an appraisal every time you do a loan. The appraisal process can be both lengthy and stressful, especially for the homeowner.

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VA official talks future of partial claims and revamping its reputation

Housing Wire

HousingWire sat down with Bell to learn about how the VA is working to revamp the image of the loans it offers, how it plans to modernize its appraisal processes, how it coordinates with other agencies, and whether its COVID-19 partial claim program will get an extension. Last year the Assisted Appraisal Processing Program launched.

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Mortgage lenders need to lean in to consumer expectations

Housing Wire

From hybrid appraisals to virtual showings to RON/RIN, the digital mortgage process took center stage over the last year. As the industry continues to experience this seismic shift to digital, ServiceLink aimed to dive deeper on consumers’ evolving expectations of the home-buying and refinance process, particularly over the last year.

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Building the next generation of tech: Three ways to digitize home lending

Housing Wire

At each stage of the buying process, there are multiple siloed transactions, from appraisals, inspections and settlements to mortgage payments and homeowners’ insurance. There are many lessons the industry can learn from other companies that have successfully digitalized their processes.

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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. To learn more about RMF and reverse mortgages visit reversefacts.com/HW. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Not tax advice.

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28,000 Reasons to Have Your Home Measured Before You List It

Cleveland Appraisal Blog

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. Last year, I appraised a home for a homeowner. Contrary to popular belief, good appraisers do not magically appraise homes at their contract price simply to rubber-stamp a sales price.

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