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Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long.

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Class Valuation acquires AMC AppraisalTek

Housing Wire

National appraisal management company Class Valuation is extending its reach, with the acquisition of yet another appraisal management company. Class Valuation said it would bring on AppraisalTek’s 75 full-time employees. The acquisition is Class Valuation’s fifth in recent years.

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Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

Appraiserblogs

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. appeared on Appraisers Blogs.

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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. It all starts with the standard appraisal forms used in the mortgage process.

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Proposed VA appraisal law looks to even the playing field

Housing Wire

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together. Sponsored Video.

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BREAKING The New York State AMC Law Is Now In Effect

Miller Samuel

The bill summary was: Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state. No, it isn't.

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Like it or not, desktop appraisals are here to stay

Housing Wire

A recent federally commissioned report further detailed the appraisal industry’s dysfunctional regulatory regime. In October 2021, FHFA Acting Director Sandra Thompson announced to a crowd of mortgage industry professionals that desktop appraisals would become permanent, starting early in 2022.

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