Housing Wire

DECEMBER 14, 2021

The Federal Housing Finance Agency (FHFA) is the latest stakeholder to examine how racial bias may creep into property valuations. An area was ‘not especially-diverse’ ethnically, with a high percentage of white people,” another appraiser wrote.

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Housing Wire

APRIL 21, 2021

In the 30-minute question-and-answer session with Kristy Fercho, MBA’s chair-elect and executive vice president and head of home lending at Wells Fargo , Calabria said his expectations are that by mid-summer, the FHFA would end the flexibilities on collateral valuations unless circumstances force another extension.

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Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

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Appraiserblogs

MARCH 29, 2023

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

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Empire Appraisal Group

NOVEMBER 22, 2023

He has been appraising real estate since 2003 and has successfully completed over 10,000 residential property appraisals. In addition to working with lending clients, Daniel provides valuations for attorneys, realtors, investors and homeowners in the local market.

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Empire Appraisal Group

NOVEMBER 9, 2023

He has been appraising real estate since 2003 and has successfully completed over 10,000 residential property appraisals. In addition to working with lending clients, Daniel provides valuations for attorneys, realtors, investors and homeowners in the local market.

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Appraiserblogs

MARCH 17, 2021

Bill A5185 and AMC Bill A5146 introduced to the state legislature in New Jersey show just how much state legislators don’t understand the appraisal profession. Valuation Legal warned us about this back in December: Appraiser and AMC Laws to Include Prohibitions Against Discrimination. From Bill A5185: 2. 45:14F-1 et seq.)

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Cleveland Appraisal Blog

JANUARY 19, 2023

Have you heard of a property being overimproved, or super adequate? Unless you’re in the property valuation profession, you may not have. ” Clearly, when valuing a property, appraisers must consider what the typical buyer expects a home to offer in terms of amenities and characteristics. What about financing?

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Appraisal Hub

MARCH 19, 2023

Mortgage lenders require assurance that they are issuing a loan commensurate to the value of the property. A property appraisal in Toronto will provide them with an accurate assessment of that home’s value. An impartial appraisal can help you set a fair price and attract more potential buyers. Appraisal Hub Inc.

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The Robert Weiler Company

SEPTEMBER 30, 2020

As per the above list, there are several motives for a commercial real estate appraisal review; however, what does a real-world scenario look like? Two of the best examples occur when there is lending involved or litigation pursued. A commercial appraisal review is also critical during litigation. Grant Applications.

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Birmingham Appraisal

JUNE 7, 2023

Appraisers Helping Accountants In the realm of real estate transactions, residential appraisers play an important role in providing accurate valuations. Appraisers also offer valuable support to accountants by providing crucial insights and data for various financial purposes.

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D Fritz Appraisals

MARCH 4, 2024

Fritz Appraisals Valuations Will Optimize Your Landscaping Dollar A home valuation with D. Fritz Appraisals will help you determine which landscaping designs will increase your home’s value the most. Fritz Appraisals Inc. Don’t forget the greenery, after all, what’s a garden without green? Contact D.

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The Robert Weiler Company

OCTOBER 21, 2022

So, take a deep breath, read on, and be prepared to gain a deeper insight into this important topic of commercial real estate valuation. We believe that you’ll feel better informed, more confident, and maybe even a little enthusiastic when it is time to schedule a free consultation with a commercial property appraiser.

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AmeriMac

NOVEMBER 30, 2023

It plays a significant role in several aspects, from buying and selling to lending purposes. In this blog, we will take you through everything you need about commercial real estate appraisal, from defining the term and understanding its importance to exploring the different types of commercial properties that are appraised.

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D Fritz Appraisals

OCTOBER 22, 2019

Looking for a Home Appraisal Company in Victoria, BC? In any of these situations, a property appraisal company can help, and it will be up to you to hire the right company for the job. So, when it’s up to you, how do you know what property appraisal company to hire? Are new schools and hospitals being built nearby?

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Housing Wire

AUGUST 31, 2023

For example, Class Valuation , one of the nation’s largest AMCs, provides its data collectors with imagery technology that creates a digital twin of the property. This ensures that, even if revisions to the property data collected are needed, no one will have to return to the property for additional data.

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Appraisal Today

MARCH 15, 2024

How To Appraise Rural Properties Excerpts: Appraising residential properties in rural areas can be both challenging and rewarding. Unlike the standardized expectations of urban and suburban properties, rural properties often present unique characteristics that require a nuanced approach to valuation.

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Birmingham Appraisal

FEBRUARY 8, 2023

Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not. For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes.

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Appraisal Today

APRIL 14, 2023

5 Resources to Help You Avoid Appraisal Errors and Violations As busy real estate appraiser, both your time and your professional reputation are extremely valuable. While most common appraisal errors are minor and won’t result in disciplinary action, even small mistakes take time to correct and therefore slow down your process.

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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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Housing Wire

MARCH 13, 2023

The lawsuit alleges that an appraiser with 20/20 Valuations lowered the valuation of a home because the owners, Nathan Connolly and Shani Motta, were Black — and were also denied the owners’ mortgage refinancing application with loanDepot based on the lower appraisal, which violated the FHA and ECOA.

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Realtor

MARCH 9, 2016

Behold the 9 most common reasons for a low home appraisal, according to our expert sources. The home appraisal expert didn’t do a neighborhood deep-dive. To appraise the value of a property, appraisers rely heavily on comps, which are prices paid for similar homes sold recently.

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Clear Capital

MAY 24, 2022

Using an Automated Valuation Model (AVM) for real estate valuations isn’t new in the mortgage industry. Each year, technology plays more of a role in valuing homes for property appraisals , loan originations, secondary market investments, and even portfolio monitoring. What is an AVM in Real Estate ?

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McKissock

DECEMBER 28, 2021

Another content and curriculum manager at McKissock, Dan Bradley, warns that three major unknowns face the appraisal profession for 2022: the PAVE (Property Appraisal and Valuation Equity) task force ; inflation and interest rates; and property values/market conditions.

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Housing Wire

JULY 29, 2021

The Property Appraisal and Valuation Equity task force will deliver a report to Biden within six months to describe the “extent, causes, and consequences of undervaluing of properties,” a HUD official told HousingWire. Many appraisers say disparities in valuation are caused by factors outside their control.

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Realvals

JUNE 18, 2023

The appraisal helps in establishing the loan-to-value (LTV) ratio. The LTV is a percentage that represents the amount of money to lend compared to the value of the home. An appraisal can assist you in determining the value of real estate, personal items, and business interests.

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Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry.

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McKissock

DECEMBER 3, 2021

During the last several weeks, the task force has held online “listening sessions” to solicit feedback from appraisers, lenders, and other stakeholders in the residential mortgage lending industry. The task force itself does not have the authority to pass laws or promulgate regulations.

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Appraiserblogs

JUNE 22, 2021

In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the part of real property appraisers providing appraisal services to lenders who provide home mortgages.

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Housing Wire

AUGUST 22, 2022

A Maryland couple is suing appraisal firm 20/20 Valuations , its appraiser and mortgage lender loanDepot after their home was appraised at a far lower value than it was a few months later when they removed indications that a Black family lived there. Racial discrimination has been deeply rooted in the U.S.

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Empire Appraisal Group

AUGUST 12, 2021

The agencies involved in residential lending—Fannie Mae, Freddie Mac, the Department of Veterans Affairs, and the Federal Housing Administration—have slightly varying definitions of gross living area, but all agree on these facts: Gross living area is the finished, above-grade residential area. appeared first on Empire Appraisal Group.

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Walitt Solutions

MARCH 29, 2020

Walitt Solutions encourages appraisers, firms, vendor management companies, lenders, and other interested parties to continue to monitor changes and resources in the valuation industry related to the COVID-19 novel Coronavirus and impacts of the national emergency. ” “Desktop Appraisal Valuations.

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Housing Wire

FEBRUARY 7, 2022

A spokesperson for HUD said the agency could not discuss investigations or strategy of fair lending enforcement, but said that fair lending is a priority of the Biden-Harris Administration and HUD. In August, HUD Secretary Marcia Fudge signed an agreement with the Federal Housing Finance Agency to strengthen fair lending enforcement.

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