Reggora Utilizes STRATMOR Study Data for Mortgage Appraisal Evaluation

Appraisal Buzz

Reggora , an appraisal management software company, is offering a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance. The evaluation will review appraisal costs, turn times. AMC vs. panel operations, appraisal-dedicated employees, appraisal-revision requests, industry pain points, and more. of closings are delayed because of the appraisal, and part of the delay is actually within.

Reggora Utilizes STRATMOR Study Data for Mortgage Appraisal Evaluation

Appraisal Buzz

Reggora , an appraisal management software company, is offering a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance. The evaluation will review appraisal costs, turn times. AMC vs. panel operations, appraisal-dedicated employees, appraisal-revision requests, industry pain points, and more. of closings are delayed because of the appraisal, and part of the delay is actually within.

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Challenging a mortgage appraisal

Annarbor Appraisal

Challenging the results of the appraisal for mortgage financing. Even though the consumer may pay for the appraisal, they are no more the client than is the credit reporting agency or title company hired directly by the lender. real estate Realtors Ann Arbor Appraisal Reconside

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. Implementing desktop appraisals would help alleviate this.

VA removes pre-approval process for some loans?

Housing Wire

The VA also expects to overhaul its procedure on appraisals following the mid-May introduction of legislation in the Senate aimed at streamlining the appraisal process for VA loans. The legislation would remove a stipulation requiring all VA appraisals to be performed in-house.

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. In 2018, Class Valuation, then Class Appraisal, acquired reverse-mortgage focused AMC Landmark Network.

VA now accepting desktop and exterior-only appraisals

Housing Wire

The Department of Veterans’ Affairs announced last week that it would allow desktop and exterior-only appraisals for some transactions. Lenders had better be sure that an alternative appraisal is appropriate when requesting one for a property.

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. Currently, all VA appraisals must be performed in-house. In March 2022 , the Federal Housing Finance Agency (FHFA) made hybrid appraisals a permanent fixture.

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VA hikes appraisal fees, turn-times in select markets

Housing Wire

The Department of Veterans Affairs will raise appraisal fees and lengthen allowable turnaround times in select markets across the country in response to high demand for appraisals. Conventional buyers who need an appraisal done quickly can pay a premium. .

Lenders mandated to use FHA Catalyst for appraisals

Housing Wire

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week.

UWM appraisal shakeup makes small splash

Housing Wire

United Wholesale Mortgage (UWM) announced late last year that it would turn the appraisal space on its head by launching an in-house appraisal program. Even if it has not made quite the outsized impact UWM said it would, appraisers mostly like the wholesaler’s new program.

Why VA mortgage loans go to the bottom of the stack

Housing Wire

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. The post Why VA mortgage loans go to the bottom of the stack appeared first on HousingWire.

Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec.

Like it or not, desktop appraisals are here to stay

Housing Wire

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic.

Rocket Mortgage’s Rachel Robinson to speak at HW Annual

Housing Wire

As the housing economy becomes increasingly digital, appraisal modernization may hold the key to not only providing a better experience for borrowers and lenders but also reducing potential appraisal bias.

CFPB reverses pandemic flexibilities, vowing enforcement

Housing Wire

In one of its key decisions, the CFPB said it will roll back its leniency on reporting Home Mortgage Disclosure Act data. The flexible standards allowed for more appraisal options on certain qualifying primary residence loans, including desktop appraisals and exterior-only appraisals.

New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

What New Homebuyers Need To Know About Appraisals. In this new homebuyer’s guide to appraisals, I’ll help you understand the process during your first home purchase. I would like to do my part by informing and educating you on the appraisal part of the transaction.

Home Appraisal: Why Would a Person Need It?

Appraisal Hub

A home appraisal is an important aspect of buying or selling a residential property. By hiring appraisers in Toronto, you can get an unbiased assessment of your property’s worth and make informed decisions. A property appraisal is necessary because banks need to check the home’s value.

FHA delays mandatory use date for FHA Catalyst appraisal submission

Housing Wire

The Federal Housing Administration announced this week that lenders have an additional year before they must submit appraisals through the FHA Catalyst: EAD Module. What role does appraisal tech have in creating customers for life?

The Appraisal World is changing, as is UAD and the URAR

Appraisal Buzz

There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers.

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Michelle Mencarini Joins SettlementOne as Vice President, National Sales

Appraisal Buzz

Indianapolis, Indiana, July 20, 2022 (AppraisalBuzz.com; Newswire.com) – SettlementOne Valuation, a leading provider of credit, data, and appraisal management services to the U.S. mortgage industry, today announced the hiring of Michelle Mencarini, Vice President of National Sales.

What Is A Relocation Appraisal?

AmeriMac

To make it an easier process, you can get a relocation appraisal. This is an appraisal that will give your company, as well as you, an estimated price for the house that is being sold. Relocation Appraisals. The relocation appraisal will help with these questions and more.

The Benefits of Real Estate Appraisals

Appraisal Hub

Before signing a contract, make sure to have the home appraised. Appraisal companies can provide a professional opinion on the estimated value of the property so you can make better decisions. When should you get home appraisal services in Toronto? Real Estate Appraisal

Don’t miss the Vanguard Forum at HW Annual Oct. 4

Housing Wire

As our market rapidly moves from a state of frenzy to a more normalized state, mortgage and real estate executives are tasked with developing the strategies, financial resources and partnerships that position their businesses for market share growth. They come from all corners of the industry, including mortgage, appraisal, real estate, finance and more.

The Appraisal World is changing, as is UAD and the URAR

McKissock

There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers.

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.

Law 259

Types of Appraisals that are in High Demand Due to COVID-19

Appraisal Hub

Many people lost their jobs—and this put homeowner who cannot keep up with their mortgage payments at risk of losing their property. As a result, appraisal firms found an uptick in the demand for residential appraisals due to the pandemic. Home and Mortgage Appraisals.

How agents are winning bidding wars in America’s most competitive markets

Housing Wire

and I counseled my client to bid accordingly, waive his mortgage contingency, then we bid $1.45 For our seller-clients, we were counseling them on how the buyers waive appraisals or waive mortgage contingencies,” Cordano said.

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Disagreeing with the Appraiser: Tips for Staying Compliant While Making Your Case

Genworth MI Blog

This article first appeared in the June issue of National Mortgage Professional Magazine. . The home appraisal has been requested…the waiting begins. Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood?

Disagreeing with the Appraiser: Tips for Staying Compliant While Making Your Case

Genworth MI Blog

This article first appeared in the June issue of National Mortgage Professional Magazine. . The home appraisal has been requested…the waiting begins. Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood?

Agents fight misconceptions to win deals for military veteran clients

Housing Wire

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

What Is Appraisal Review in Real Estate?

AmeriMac

This is why home appraisals are advised to ensure property costing is as fair as possible. This article discusses what an appraisal requires, why it needs to be reviewed and the methods involved in arriving at both conclusions. What Is an Appraisal? What Is Appraisal Review?

2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. Opportunities for appraisers in 2022.

What Are Reverse Mortgage Pros and Cons?

AmeriMac

If you are at retirement age, or close to it, you may be seeing a lot of advertising for reverse mortgages. Reverse Mortgage Basics. If you own property, and you are 62 or older, a reverse mortgage makes it possible for you to borrow against the equity you have in your home.

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Top 10 Tips for Working with AMCs

McKissock

But with a majority of the mortgage appraisal volume being engaged through appraisal management companies, as an appraiser, working with AMCs is almost a necessity today. Keep your vendor information, your E&O insurance, and your appraisal license up to date.

What About Those Fixer-Uppers? Insights from a Seasoned Appraiser

McKissock

The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. There is virtually no way to get a mortgage on the property in its present condition, so it takes a cash buyer. Insights from a Seasoned Appraiser appeared first on McKissock Learning.

The Importance of Appraisal Quality Control in Appraisal Management Companies

AmeriMac

The results of a real estate appraisal carry major implications for borrowers, lenders, and sellers alike. Ultimately, the goal of an appraisal is to determine a fair and reasonable value for any given property. Common Issues With Appraisal Quality Control. commercial appraisals.

Legal 36

The Importance of Appraisal Quality Control in Appraisal Management Companies

AmeriMac

The results of a real estate appraisal carry major implications for borrowers, lenders, and sellers alike. Ultimately, the goal of an appraisal is to determine a fair and reasonable value for any given property. Common Issues With Appraisal Quality Control. commercial appraisals.

Legal 36

The Importance of Appraisal Quality Control in Appraisal Management Companies

AmeriMac

The results of a real estate appraisal carry major implications for borrowers, lenders, and sellers alike. Ultimately, the goal of an appraisal is to determine a fair and reasonable value for any given property. Common Issues With Appraisal Quality Control. commercial appraisals.

Legal 36

Saving the Real Estate Industry from the HVCC and AMCs

CP Home Appraisals

Once the HVCC, Home Valuation Code of Conduct, is enacted the majority of lender and mortgage appraisal requests will be diverted through Appraisal Management Companies (AMCs). Although this may curb the evils of “lender pressure” on us appraisers, it will also take up to 50% of our fee!! For their role they take a healthy 30%-40% cut off the appraisal fee. Oh yea, AND the appraiser will have to wait 30 – 60 days to get their money.