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A loan officer’s ultimate guide to appraisal modernization

Housing Wire

However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. The original appraisal waiver solutions were launched in August 2017.

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California will require home insurers to offer policies in high-risk wildfire areas

Housing Wire

Modernizing regulations around reinsurance will enable insurance companies to expand coverage and write more policies in communities across the state facing greater risk, ensuring stability and resilience in our insurance market. The number of policies under the FAIR Plan more than doubled from 2020 to 2024, according to the AP.

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ESSA Bank to pay $3M to settle DOJ’s redlining allegations

Housing Wire

District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. Under a consent order still subject to court approval, ESSA has agreed to invest $2.92

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Orchard raises $69M in Revolution-led Series C

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. When something is seamlessly designed into the experience, you’re more likely to use it,” he said. Register for the FinLedger Daily Newsletter.

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Solving for fraud, biometrics are the future of mortgage

Housing Wire

Some may argue whether today’s technology is that much better than the tools we used in the past, particularly in the servicing business where many still use platforms designed and first built decades ago. payment amount in 2017?” Better, faster, cheaper has long been the promise of technology in the mortgage industry.

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BREAKING The New York State AMC Law Is Now In Effect

Miller Samuel

After years of AMCs chipping away at the public trust, the New York AMC law was designed to protect the consumer. Senate Bill S9080 was introduced two years ago during the 2017-2018 legislative session, signed into law on December 27, 2018 and became effective today. But I'm no lawyer so I'll look for clarification on their logic.

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The appraisal industry’s hidden hand

Housing Wire

A variation of the conduct code was inserted into the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, and the modern AMC was off and running. But he repeatedly surfaces as the designated mouthpiece for AMCs. Soon, AMCs went from being involved in 10% of all appraisals to 90%,” Miller said. “It

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