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A Log Home Valuation

Appraisal Buzz

It is no secret that log homes do not appraise well. The question is raised as to what is the real problem with log home valuation and what is the problem with appraisers working in the niche log home market? Many appraisers in urban areas like Chicago believe that the log home market is irrelevant and is not worth exploring.

Valuation 396
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StoicLane has plans to create an appraisal giant

Housing Wire

Less than one month after launching operations , the private holding group StoicLane – the backers of Interfirst Mortgage – has acquired control of the appraisal management company Lender’s Valuation Services (LVS). ” How do remote valuation solutions benefit appraisers? Presented by: Incenter.

Appraisal 370
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Federal agencies propose guidance for residential real estate ROVs

Housing Wire

Additionally, the proposed guidance would describe the risks of deficient residential real estate valuations and how financial institutions may incorporate ROV processes into established risk management functions,” the announcement notes. The proposed guidance is available on the CFPB’s website.

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Bill would combat appraisal bias with new agency, public GSE database

Housing Wire

A draft discussion bill circulated this week, sponsored by House Financial Services Chairperson Maxine Waters (D-CA), would strike the Appraisal Foundation , and replace it with an independent federal agency. That office would oversee fair lending supervision and examination procedures, as well as the consumer complaint process.

Appraisal 448
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CFPB Approves Rule to Ensure Accuracy in Home Appraisals 

Appraisal Buzz

A new rule was passed by the Consumer Financial Protection Bureau (CFPB) to address the use of artificial intelligence and complicated algorithms in home valuations, both now and in the future. A proper home appraisal is essential whether purchasing or selling a property.

Appraisal 391
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Real estate is a people business, but automation can help

Housing Wire

So much of life radiates from both the location and the valuation of the house a family occupies. As mentioned, much is determined by the location and valuation of houses. Of these, one stands tall: valuation. We hear shocking stories of racial discrimination and a variety of other ills during the appraisal process.

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HUD, GSEs to Allow Consumers to Seek Reconsideration of Appraisal Valuations

Appraisal Buzz

Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), and government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are now allowing home appraisals to get a second look when bias is suspected in the appraisal process.