Appraisal Buzz

APRIL 15, 2024

UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. It all starts with the standard appraisal forms used in the mortgage process. Really, appraisers have always thought this way.

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Appraisal Design Lending Technology 397

Housing Wire

JUNE 14, 2021

ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. Digital mortgage platform DocMagic Inc. ICE also acquired Simplifile in 2019 for $335 million.

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Technology Supply Chain Training Valuation 362

Housing Wire

MAY 23, 2023

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. To break into appraising, you need to essentially apprentice with an existing appraiser, and for them to spend that much time training you often requires them to already have a close relationship with you. Johnson said.

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Technology Appraisal Lending Valuation 338

McKissock

MARCH 28, 2023

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. What are some specific types of non-lending assignments that might be worth adding to your workload this year? Read the full survey results below.

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Lending Appraisal Property Taxes Training 99

Housing Wire

JUNE 2, 2022

The question was on the minds of many at the Waldorf Astoria in Dana Point, California on Thursday – will non-qualified mortgage products become more commoditized as the rising rate environment wallops agency lending? of the overall mortgage market. Underwriters are trained as desktop underwriters (DUs).

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Lending Investors Mortgage Clients 343

Housing Wire

MAY 18, 2021

Real estate and mortgage industry professionals are facing major challenges to meet the escalating demands of the housing market. It is no wonder then that, when asked, WFG’s lender clients and their borrowers identified training, collaboration, process efficiency and communication as the four major pain points they want to improve.

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Mortgage Training Clients Development 203

Housing Wire

FEBRUARY 5, 2021

Mortgage Champions founder and CEO Dave Vermillion will be speaking on a panel covering operational strategies in the current market at HousingWire’s Spring Summit on March 4. He is the author of Navigating the Mortgage Maze , a guide teaching the simple truths to securing the best possible mortgage, every time.

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Training Technology Real Estate Valuation 234

Housing Wire

APRIL 20, 2021

This general alignment matters a great deal as the FHFA, through their oversight of the GSEs, who have the vast majority of the market share, plays a key role in the conforming lending market being the de facto regulator. In these responses, I hear a lending industry clamoring for the freedom to use the “new tools” that already exist.

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Technology Appraisal Valuation Lending 393

Appraiserblogs

MARCH 29, 2023

With falling values across many markets combined with rising mortgage rates putting even more pressure on borrowers’ wallets, this decision could potentially put. Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Related Posts: Dear Representative, FNMA Has Gone Rogue!

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Property Appraisal Training Lending Appraisal 132

McKissock

JANUARY 6, 2023

There are appraisal jobs available in the lending sector, such as staff appraisers, review appraisers, fee panel managers, and with experience and time on the job, chief appraiser and valuation compliance officer jobs can be found. You should also consider non-QM lenders (non-qualified mortgage lenders).

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Appraisal Training Lending Land Management 74

Boston Appraisal

OCTOBER 8, 2022

As a result, delays in the lending or mortgage process are not uncommon; more recently, there have been attempts to mitigate this problem. Finally, the appraiser is tasked with completing the valuation, which they typically do by utilizing data from MLS and other public records. What Are Hybrid Appraisals?

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Appraisal Inspection Appraisal Process Valuation 135

Clear Capital

APRIL 30, 2024

In part one of our home equity lending series , we discussed home equity lending and how lenders can use an AVM to market to home equity customers. In this second part, we’ll discuss how to meet interagency guidelines for property valuation while expediting underwriting by using ClearAVM + Property Condition Inspection (PCI).

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Valuation Inspection Lending Real Estate Agent 28

Housing Wire

JANUARY 24, 2022

“Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote. Apart from questions of governance, the report found significant gaps in the Appraisal Foundation’s fair housing requirements and training.

Government 365

Government Appraisal Reconsideration of Value Lending 365

Boston Appraisal

OCTOBER 8, 2022

As a result, delays in the lending or mortgage process are not uncommon; more recently, there have been attempts to mitigate this problem. Finally, the appraiser is tasked with completing the valuation, which they typically do by utilizing data from MLS and other public records. What Are Hybrid Appraisals?

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Appraisal Inspection Appraisal Process Valuation 78

McKissock

MARCH 6, 2023

On March 1, 2023, Fannie Mae issued Announcement SEL-2023-02, which addressed several different lending-related topics. Announcement SEL-2023-02 also sets forth requirements for these third-party inspectors, e.g., they must be professionally trained and undergo a background check.

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Modernization Valuation Appraisal Lending 72

McKissock

MARCH 6, 2023

On March 1, 2023, Fannie Mae issued Announcement SEL-2023-02, which addressed several different lending-related topics. Announcement SEL-2023-02 also sets forth requirements for these third-party inspectors, e.g., they must be professionally trained and undergo a background check.

Modernization 67

Modernization Valuation Appraisal Lending 67

Boston Appraisal

OCTOBER 8, 2022

As a result, delays in the lending or mortgage process are not uncommon; more recently, there have been attempts to mitigate this problem. Finally, the appraiser is tasked with completing the valuation, which they typically do by utilizing data from MLS and other public records. What Are Hybrid Appraisals?

Appraisal 78

Appraisal Inspection Appraisal Process Valuation 78

AmeriMac

MARCH 15, 2024

One of the key regulatory changes was the implementation of the Home Valuation Code of Conduct (HVCC) in 2009. These guidelines aimed to address concerns about inflated property valuations and the influence of lenders on appraisers. These changes mandated the use of independent appraisers and helped increase the demand for AMCs.

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Appraisal Appraisal Process Valuation Real Estate 36

D Fritz Appraisals

OCTOBER 11, 2022

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. Estate settlements.

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Appraisal Inspection Property Taxes Easement 105

DataMaster

APRIL 6, 2021

In Art’s eyes, the valuation of his home wasn’t keeping up with the current market’s trajectory. Appraising is an often misunderstood part of the refinance and mortgage process. An appraisal is an unbiased valuation of the fair market value of a home. Appraisers are highly educated and well-trained.

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Appraisal Appraisal Process Buyers Legal 158

Genworth MI Blog

AUGUST 15, 2019

There are big changes coming to appraisals, and they’ll have a huge impact on how the mortgage industry does business. When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In some cases, it might be a person completing a desktop for the valuation. What does that mean?

Appraisal Tips 78

Appraisal Tips Appraisal Property Inspector Training 78

Genworth MI Blog

AUGUST 15, 2019

There are big changes coming to appraisals, and they’ll have a huge impact on how the mortgage industry does business. When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In some cases, it might be a person completing a desktop for the valuation. What does that mean?

Appraisal Tips 78

Appraisal Tips Appraisal Property Inspector Training 78

Housing Wire

SEPTEMBER 13, 2023

It makes accessible information that used to be hard to obtain, such as the condition of the backyard, the proximity of a property to a loud road, train tracks, or a body of water as well as the occupancy status of a property. The tool can be paired up with other types of valuation metrics.

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Tools Valuation Inspection Investors 368

Housing Wire

AUGUST 31, 2023

Last year, Freddie Mac launched another solution that allows a trained property data collector to visit the home and gather images, measurements and property characteristics. A trained and vetted third party can perform the data collection. More recently, Fannie Mae launched a similar solution.

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Modernization Appraisal Inspection Valuation 335

Appraisal Today

APRIL 19, 2024

For too long, appraisers have faced sweeping claims that their valuations are biased against certain groups, despite appraisers’ ethical standards, rigorous training, and lack of financial stake in transactions. There are 12 principal forms used for a mortgage origination appraisal. bath, 5,258 sq.ft.

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Appraisal Contracts Valuation Design 68

Housing Wire

MAY 20, 2021

Accurately establishing a home’s value is not just an important factor in real estate transactions and mortgage lending, it is integral to household wealth creation, as homeownership continues to be one of the primary pathways for Americans to build wealth. So, what can be done to mitigate bias and inequality in the valuation process?

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Appraisal Valuation Technology Training 475

DataMaster

APRIL 6, 2021

In Art’s eyes, the valuation of his home wasn’t keeping up with the current market’s trajectory. Appraising is an often misunderstood part of the refinance and mortgage process. An appraisal is an unbiased valuation of the fair market value of a home. Appraisers are highly educated and well-trained.

Appraisal 78

Appraisal Appraisal Process Buyers Legal 78

DataMaster

APRIL 6, 2021

In Art’s eyes, the valuation of his home wasn’t keeping up with the current market’s trajectory. Appraising is an often misunderstood part of the refinance and mortgage process. An appraisal is an unbiased valuation of the fair market value of a home. Appraisers are highly educated and well-trained.

Appraisal 78

Appraisal Appraisal Process Buyers Legal 78

Housing Wire

MARCH 12, 2024

Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. Of that total, $220 billion is estimated for standard forward mortgages and $17.9 Within the congressional justifications for the U.S.

Mortgage 333

Mortgage Insurance Training Government 333

Clear Capital

FEBRUARY 2, 2022

It’s an exciting time in the mortgage industry, especially for appraisals. Over the past few years, leading companies from across the industry have modernized and transformed how appraisals are manufactured to streamline the lending process and improve the borrower’s experience. What are the benefits of 1004 Desktop appraisals?

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Modernization Appraisal Appraisal Process Inspection 69

Birmingham Appraisal

FEBRUARY 20, 2024

The lender, whether it be a bank, mortgage company, credit union, or other financial institution will provide the buyer with the funds through a mortgage to pay for the house. The appraiser must make sure that they are providing an impartial valuation so that the market value shown in the appraisal is as accurate as possible.

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Agents Appraisal Real Estate Agent Bracketing 87

Realtor

JANUARY 23, 2018

Blackstone and its lender, Deutsche Bank AG, settled on a sort of drive-by valuation done by real-estate agents that are more cursory and cost far less than traditional appraisals. Congress outlawed the use of such assessments, called broker price opinions, or BPOs, to value properties for traditional mortgages. It never did, said Ms.

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Appraisal Real Estate Agent Valuation Real Estate 78

Realtor

JANUARY 23, 2018

Blackstone and its lender, Deutsche Bank AG, settled on a sort of drive-by valuation done by real-estate agents that are more cursory and cost far less than traditional appraisals. Congress outlawed the use of such assessments, called broker price opinions, or BPOs, to value properties for traditional mortgages. It never did, said Ms.

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Appraisal Real Estate Agent Valuation Real Estate 78

Walitt Solutions

JULY 28, 2019

However, given current changes in the valuation space, nothing is further from the truth: valuation, specifically the collection of data that supports a valuation method, has never been one-size-fits-all. Are these “other” inspection-and-valuation processes appropriate for lending?

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Appraisal Inspection Valuation Lending 28

Appraisal Today

FEBRUARY 24, 2023

NOTE: Please scroll down to read the other topics in this long blog post – Bias, Cost cutting, slow business, unusual homes, mortgage origination stats, etc. AMCs had taken over the mortgage-lending work. They also fail to note the size of these under-valuations. Budget cuts. Retraction. Or hit the reply button.

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Appraisal Architecture Valuation Business 52

Housing Wire

JUNE 15, 2021

Understanding the market value of collateral is a key fundamental component of safe and sound lending. the House Financial Services Committee passed the Real Estate Valuation and Fairness Act. Educating all those who participate in collateral valuation and underwriting is at the core of what the CoreLogic Columbia Institute does.

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Appraisal Valuation Law Lending 395

Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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Reconsideration of Value Appraisal Valuation Appraisal Process 454