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Lenders see appraisal modernization as a top priority

Housing Wire

“If they can, they want to charge more money for the appraisal. Despite a majority of lending institutions agreeing that adopting new technology for appraisals would be beneficial, survey takers identified several other priorities that were even more important.

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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. The mortgage appraisal forms we use today were designed in 2005 using technology and mortgage processes in place at the time.

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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Traut notes that the Federal Housing Finance Agency (FHFA) announced in late October 2021 at the Mortgage Banker Association’s annual conference that banks and mortgage lenders will be able to use desktop appraisals in place of traditional appraisals for qualifying Fannie Mae or Freddie Mac backed mortgages.

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Chat GPT For Fannie Form Appraisal Reports

Appraisal Today

Chat GPT For Fannie Form Appraisal Reports By Dustin Harris Excerpts: The world of real estate appraisal is constantly evolving (much to our dismay sometimes), and as professionals in this field, it is crucial to stay ahead of the curve by embracing innovative tools and technologies. You don’t need a website.