This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
However, many lenders have issues building profitable home equity programs due to some misconceptions about handling valuations in a way that ensures they are underwriting quality loans. Misconception #1: You need an appraisal every time you do a loan. Misconception #2: AVMs are not an accurate way to gauge home value.
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. Really, appraisers have always thought this way.
Year Founded Description 98 OptiFunder 4,767% 2018 Finance company helping independent mortgage lenders choose among funding options and streamline the process. 126 Transactly 3,852% 2017 Real estate transaction platform providing automation, integrations and tech-enabled services that significantly reduce process time. Source: Inc.
The Uniform Appraisal Dataset (UAD) is being updated to reflect changes to the appraisal industry since the current version was adopted in 2010. Addressing future appraisal needs and facilitating ongoing digitization in the appraisalprocess/mortgage industry was also highlighted.
Despite the UAD being introduced in 2010, the mortgage appraisal forms have largely remained unchanged, and several property types were not part of the UAD. Ken has worked in the Mortgage and Real Estate industry for the past 30 years with extensive experience in loan originations fulfillment, quality control and servicing valuations.
Blogging provides me a creative outlet to help educate the public on the appraisalprocess. If you had told me in 2010 that I would still be writing my appraisal blog 14 years later I would have said you were crazy, but here I am. Guess what? True, there are many occasions when they do align, however, let me explain why.
The Role of AMCs in the Real Estate AppraisalProcess The real estate appraisalprocess is complex, with Appraisal Management Companies (AMCs) overseeing appraiser selection and report review. AMCs maintain a diverse appraiser network and assign experts based on property type and location.
In a blog post on its website, law firm Morgan & Morgan said that AMC involvement in the appraisalprocess is potentially concerning because of a perceived lack of transparency, inflated costs and limited additional value to the consumer.
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content