Appraisal Buzz

OCTOBER 28, 2024

With these advances in technology, the appraisal industry is transitioning toward a more scientific, data-driven approach. Modern tools can now compile and analyze vast datasets, providing appraisers with more accurate and comprehensive information than ever before. Resulting in fairer and more accurate appraisals.

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Housing Wire

SEPTEMBER 27, 2024

Department of Housing and Urban Development ’s (HUD) reliance on its legacy appraisal processing system, the Loan Application Management System,” FHA said in an informational notice. The agency cited a need to take a closer look at the development and implementation of this part of the platform to streamline its efficiency.

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Housing Wire

AUGUST 25, 2022

With recent developments from Fannie Mae and Freddie Mac to pursue a more digital appraisal process that could both speed up the process and remove any unconscious bias from it, it is important for industry professionals across the space to stay at the top of their game. Appraisal Modernization: What’s the end game?”

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Appraisal Buzz

DECEMBER 6, 2021

A natural reaction to this situation, especially when faced with these statistics, is to try and get more appraisers to enter the industry. But this alone cannot solve the underlying issues with the current appraisal process, such as inefficient workflows and analogue data collection. AMCs Driving Tech Innovation .

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Housing Wire

NOVEMBER 22, 2023

Editor in Chief Sarah Wheeler sat down with Scot Rose , CIO at Class Valuation , to talk about innovation in the appraisal space and how the technology being deployed for appraisal modernization can actually protect appraisers. Everybody is affected by the appraisal process. SR: We’ve leveraged AI for years.

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Appraisal Buzz

JULY 8, 2024

We all have seen the buzz phrases: appraisal modernization, bifurcation, data collectors, desktop and hybrid appraisals, and observation (rather than Inspection). Others, like independent appraisers, blame AMCs and say there is only a shortage of appraisers willing to work for the fees AMCs pay.

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Appraisal Buzz

NOVEMBER 3, 2021

The Collateral Risk Network (CRN) announced today its formal endorsement of the gross living area measuring standard developed by the National Association of Home Builders (NAHB). It is imperative to set and adopt a standard that can be applied by appraisers as well as other stakeholders. Technology impacts.

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Housing Wire

OCTOBER 18, 2022

Established in 2001, the Nevada-headquartered company delivers solutions to modernize the appraisal process, which may take days to weeks to complete, or even longer during booming markets. Real estate valuation technology company Clear Capital will cut 27% of its workforce across its offices in the U.S.

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Housing Wire

AUGUST 23, 2022

Desktop appraisals became a permanent option for certain loans earlier this year. HousingWire recently spoke with Kenon Chen, Executive Vice President of Corporate Strategy at Clear Capital, about desktop appraisal adoption and appraisal modernization. How willing are appraisers to adopt desktop and hybrid appraisals?

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Appraiserblogs

MARCH 7, 2024

It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgage appraisal process. Despite its roots in a methodology designed to support appraisers, Value. It’s time to grab your popcorn and… The post Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

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Housing Wire

JANUARY 25, 2022

Digging into the workflow technology a bit further, it’s going to become increasingly important for appraisal management systems to have built-in flexibility for managing new types of workflows. The appraisal process, which isn’t simple to begin with, is becoming even more dynamic. The second are streamlined integrations.

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Appraisal Buzz

SEPTEMBER 5, 2022

It took several years to re-establish effective and meaningful communication between appraisers and their lending partners. Complexity in Process and Properties. When it comes to lending activity, appraisal revisions have always been a part of the appraisal process. Appraisal Modernization.

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Housing Wire

FEBRUARY 16, 2022

What role does appraisal tech have in creating customers for life? In this day and age where borrowers put speed and efficiency over anything, a slow appraisal process could reflect negatively on the lender and cause strain with the borrower. Presented by: Reggora.

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Appraisal Buzz

FEBRUARY 7, 2022

Part of the reason why there was no perceived measurable risk attributed to this change in process was because of adapted upfront lender controls that were established, creating guardrails on when inspection relief was appropriate. Appraisers rely on standards of practice and processes. Lenders rely on regulation and policy.

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Housing Wire

DECEMBER 1, 2020

Now leading Clear Capital’s mortgage collateral modernization programs, Allen is reimagining and re-engineering how home valuations are manufactured and partnering with major lenders and GSEs to bring greater efficiency and speed to the consumer.

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Housing Wire

APRIL 30, 2022

“However, for lenders to take advantage of these benefits on behalf of their customers, they need to navigate new GSE requirements, such as ensuring appraisers have access to a digital floor plan.”. Kenon Chen, Executive Vice President of Corporate Strategy.

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Appraisal Buzz

DECEMBER 27, 2021

Thus, the FHFA will likely have to develop a set of best practices in the coming years to prevent these snags and protect you and lenders. Shifting Toward Modernization. Some people argue that improper appraisals are skewing the system and contributing to industry bias.

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Housing Wire

JULY 12, 2022

John Bell, deputy director at the VA, said the agency has made strides in recent years to get loans processed and out the door in a timely manner. MV: VA’s appraisal process is criticized for being lengthy and costly. Is this a positive development for the VA? Last year the Assisted Appraisal Processing Program launched.

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Housing Wire

MARCH 23, 2021

Over the years the real estate appraisal workforce has experienced a shortage and has fallen behind to attract new entrants to replace those retiring due to high barriers of entry such as training, cost, and licensure regulations. HW: How and why has appraisal management technology evolved over the past year?

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Appraisal Buzz

JULY 15, 2024

I had just returned from college, and back then, there was no appraisal software available. We had to do it ourselves in the beginning, developing our own local software using DOS. It is up to appraisal software companies to develop solutions to provide this specific data set.

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Appraisal Buzz

JULY 5, 2021

With that said, appraisers are often tasked with having a knowledge of the local community and the local market — specifically how it affects the quality of a home. Everything from neighborhood sales to unique weather conditions plays a role in the appraisal process. That includes the appraisal process.

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Appraisal Buzz

APRIL 8, 2024

AI can analyze vast amounts of data on the blockchain to provide insights, predictions, and even automate certain appraisal processes. For instance, AI algorithms can predict real estate property values based on historical data stored on the blockchain, making appraisals faster and more accurate.

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Housing Wire

MAY 2, 2021

There’s no denying the complexity of the appraisal process. With so many people involved – including the appraisal desk, loan operations, loan officers, underwriters, the IT/product team, borrowers and appraisal vendors – there’s room for error that could negatively impact the home buying experience.

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Appraisal Buzz

DECEMBER 2, 2024

This is a concept not unfamiliar to the real estate appraisal professional. What level of data and analysis does an appraiser need to present when providing support for market conditions adjustments? The following is where I have arrived at developing answers: #1. What does USPAP say? Short answer – No.

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DataMaster

FEBRUARY 3, 2021

Replacing the old process with the new! Is it time to overhaul the appraisal process? By now, most appraisers have read the Request for Information (RFI) published by the Federal Housing Finance Agency (FHFA) on December 28, 2020. Appraisal Modernization. Many appraisers share Horn’s concerns.

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Appraisal Buzz

MAY 13, 2024

Most, if not all of the complaints stem from “low” appraisals being followed by “high” appraisals – ironically, all of these appraisals were performed by appraisers that lived in close proximity of the subject property and were deemed to have geographic competency.

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Appraisal Partners Blog

JANUARY 12, 2025

This article will delve into the various technological tools and platforms that are modernizing the appraisal process, exploring the benefits, challenges, and future trends that are defining this evolution. This makes the valuation process better for everyone involved.

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Housing Wire

MAY 2, 2021

With an increased demand for appraisals across the country, the need for efficiency during the appraisal process is greater than ever. Nationwide Appraisal Network (NAN) is an industry-leading appraisal management company providing residential and commercial valuation services in all 50 states.

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Appraisal Buzz

APRIL 15, 2024

Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation. Really, appraisers have always thought this way. Only those data and report elements that are important for the scope of work will be presented to the appraiser.

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Appraisal Buzz

MARCH 21, 2022

From streamlining 1004D updates to performing full appraisals, it is now available and accessible to appraisers and property owners via their smartphones. Incenter’s RemoteVal technology actually combines both of these major technologies for appraisers. There is a need for speed and efficiency in the appraisal process.

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Housing Wire

MAY 2, 2022

In October, FHFA Acting Director Sandra Thompson announced at the MBA’s annual conference that Fannie Mae and Freddie Mac would begin permanently accepting desktop appraisals for conventional loans, noting that “frictions in the appraisal process” can slow down turn times, especially in rural areas.

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Appraisal Buzz

AUGUST 12, 2024

With the new system, each appraisal may require different data elements and levels of analysis, making it more difficult to establish a uniform pricing model. Appraisers will need to develop a more flexible pricing strategy that considers the specific requirements of each assignment.

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Housing Wire

MAY 31, 2021

And, the impact of the pandemic has complicated this process even further. Black Knight’s REvolution suite provides appraisers and other valuation professionals with a seamless appraisal process from property inspection to report delivery.

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Clear Capital

FEBRUARY 2, 2022

Over the past few years, leading companies from across the industry have modernized and transformed how appraisals are manufactured to streamline the lending process and improve the borrower’s experience. We applaud this move and are dedicated to supporting lenders in the adoption of 1004 Desktop appraisals.

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Clear Capital

JULY 28, 2021

Unfortunately, several myths and misconceptions around appraisal modernization persist, resulting in many within our field being unable to move forward and embrace needed change. . A primary example of one of these mistaken beliefs is that modernization efforts will diminish an appraiser’s importance.

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Housing Wire

NOVEMBER 30, 2021

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% All people.

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AmeriMac

MARCH 25, 2021

In fact, in-depth research reveals that appraisal turn times in certain regions like the Pacific Northwest is double that of neighboring regions. Plus, the sudden increase in supply and demand for appraisers resulted in a spike in appraiser fees. Luckily, there are several ways you can shorten the home appraisal process.

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