Housing Wire

DECEMBER 21, 2021

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opporThe FHFA and HUD are vigorously pursuing equitable housing goals, which means big changes for lenders. HUD is coordinating with FHFA to ensure fair housing and fair lending across the board.

Appraisal Process 434

Appraisal Process Lending Finance Appraisal 434

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together.

Law 418

Law Appraisal Modernization Appraisal Process 418

Simonson Real Estate

JULY 10, 2020

While commercial appraisals are a central part of evaluating real estate, the appraisal process itself can be frustrating and confusing – primarily since each assessment depends on the scope and nature of the specific property. What has your experience been navigating the appraisal process? Contact him today!

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

Housing Wire

OCTOBER 4, 2023

For investors, we can assist with finding problematic appraisals and evaluating them for a potential putback using the same process. HW: How is artificial intelligence being integrated into the property valuation and appraisal process? HW: With higher rates, the market for home equity lending continues to grow.

Valuation 435

Valuation Appraisal Process Appraisal Lending 435

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Ed Gerding: Sure.

Lending 447

Lending Tools Investors Inspection 447

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. MYTH: The appraisal process for VA loans is more stringent and difficult than conventional loans. David Smith is the VP of National VA Lending at loanDepot.

Mortgage 468

Mortgage Renovations Appraisal Process Finance 468

Housing Wire

JUNE 11, 2021

Due to today’s booming housing market, the appraisal process may take anywhere from days to weeks to complete. The process can take even longer if the buyer or seller requests a second appraisal. However, once the appraiser is at the home, it’s generally about five business days,” Masseria estimates.

Inspection 459

Inspection Appraisal Appraisal Process Buyers 459

Housing Wire

JULY 2, 2024

The NSMO provides a unique view of mortgage borrowers, helping illustrate underlying trends that can identify emerging issues in mortgage lending,” Saty Patrabansh, FHFA’s associate director for the office of data and statistics, said in a statement. The newest release adds data through 2021 into the available dataset.

Mortgage 430

Mortgage Appraisal Process Finance Appraisal 430

Housing Wire

AUGUST 14, 2023

Appraisal modernization is generating a lot of buzz in the real estate lending industry. Expanded use of desktop appraisal technology began out of necessity during the COVID-19 pandemic. However, is appraisal modernization on its own enough? The real estate lending market is more competitive today than it has ever been.

Modernization 370

Modernization Appraisal Technology Appraisal Process 370

Housing Wire

MARCH 31, 2022

The draft bill also proposed an “Office of Fair Lending” within the new valuations agency, which would report to the head of the agency. That office would oversee fair lending supervision and examination procedures, as well as the consumer complaint process.

Appraisal 448

Appraisal Valuation Training Government 448

Appraisal Buzz

JUNE 26, 2024

A proper home appraisal is essential whether purchasing or selling a property. This appraisal is used by mortgage lenders to calculate the maximum amount they will lend on a property. Many even watch the worth of their own homes, which are produced by these algorithmic appraisal techniques, on well-known real estate websites.

Appraisal 391

Appraisal Tools Appraisal Process Real Estate 391

Housing Wire

AUGUST 30, 2022

While the lending industry has traditionally seen a measured and conservative approach to technological evolution, we are finding that many “strategic” decisions are made during these relative lulls in production. We have also seen large multi-channel lenders reducing their risk footprint in wholesale and correspondent lending.

Tools 435

Tools Lending Valuation Technology 435

Housing Wire

MAY 11, 2022

As profit margins tighten, lending professionals are seeking out solutions to increase efficiencies wherever possible. And when you dive into that a little further, the appraisal process and the title processes take way too many days, and they’re completely shrouded in mystery to the consumer.”.

Appraisal Process 395

Appraisal Process Lending Technology Appraisal 395

Appraisal Buzz

MARCH 23, 2022

The PAVE Action Plan is aimed at advancing equity in the appraisal process and promoting generational wealth creation through homeownership. The post New Biden Plan Seeks to Eliminate Bias in Home Lending and Appraisals appeared first on DSNews.

Lending 150

Lending Appraisal Appraisal Process 150

Housing Wire

OCTOBER 29, 2021

. “Last October, we announced a $30 billion commitment to advance racial equity of which $26 billion is dedicated to expanding affordable housing and sustainable homeownership in underserved communities,” Mark O’Donovan, CEO of Chase Home Lending, said. “In

Appraisal 370

Appraisal Appraisal Process Training Lending 370

Housing Wire

DECEMBER 13, 2021

ACES said appraisal issues are well documented, with most of the concern centered around rising appraisal costs, long turnaround times, and a shortage of qualified appraisers. Property appreciation is still very strong, but the appraisal process becomes more important in a purchase-driven market.

Marketing 429

Marketing Appraisal Process Legal Appraisal 429

Housing Wire

MAY 23, 2023

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. This gives them an idea of whether they’re being discriminated against in the appraisal process, reducing the risk of appraisal bias — or at the very least, increasing the consumer’s ability to spot if it’s happening to them.

Technology 397

Technology Appraisal Lending Valuation 397

Housing Wire

JANUARY 3, 2023

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect. A fundamental change.

Modernization 83

Modernization Real Estate Agent Appraisal Process Reconsideration of Value 83

Housing Wire

APRIL 6, 2023

“This is an opportunity to expand our understanding of the issues facing today’s appraisal industry and to get a clearer picture of how current practices and the appraisal regulatory system impact lending in this country.” housing market in the future.

Appraisal 397

Appraisal Valuation Government Appraisal Process 397

Simonson Real Estate

AUGUST 24, 2020

This allows us to continue to deliver well-reasoned and credible appraisal reports. Our adaptive, hassle-free and convenient appraisal process will provide you with the confidence to make the right business decision for your needs, no matter what the market is doing. We had a great discussion!

Lending 148

Lending Construction Tenants Real Estate 148

Housing Wire

MARCH 23, 2023

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S.

Appraisal 397

Appraisal Valuation Reconsideration of Value Training 397

Housing Wire

JUNE 9, 2021

This is a critical advancement in the industry as we’ve seen appraisal timelines continually increase. HW: What role can data analytics play in alleviating these pain points? JW: The key to transactional efficiency is validated data.

Appraisal 418

Appraisal Property Taxes Valuation Technology 418

Appraisal Buzz

NOVEMBER 3, 2021

It is imperative to set and adopt a standard that can be applied by appraisers as well as other stakeholders. As the appraisal process is undergoing major shifts towards modernization and new levels of automation, this void was ripe for a solution.

Valuation 370

Valuation Development Technology Appraisal 370

Housing Wire

JULY 15, 2024

Fawaz said alternatives to the conventional appraisal process can reduce time and costs. The Detroit-based lender also said that it allows the use of automated valuation models (AVMs) on home equity loans of up to $400,000, almost double the limit imposed by other competitors.

Appraisal Process 448

Appraisal Process Valuation Government Mortgage 448

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.

Appraisal 234

Appraisal Appraisal Process Valuation Loan Officers 234

Riverfront Appraisals

JULY 1, 2021

For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.

Appraisal Process 88

Appraisal Process Reconsideration of Value Final Inspection Appraisal 88

Appraisal Buzz

SEPTEMBER 5, 2022

It took several years to re-establish effective and meaningful communication between appraisers and their lending partners. Users will re-engage the appraiser once they attain a level of confidence in that professional’s ability. Is there room for more improvement?

Appraisal 281

Appraisal Modernization Appraisal Process Technology 281

Appraisal Buzz

MAY 9, 2022

The real issue is that when the appraiser is preforming a pre-construction appraisal, an educated, knowledgeable appraiser can quickly determine if a log home is compliant with the required building codes and most importantly if that “Subject Property” or log home meets Federal Lending Requirements.

Valuation 396

Valuation Legal Construction Appraisal 396

Housing Wire

SEPTEMBER 20, 2024

Steve Irwin Irwin: Another area of focus has been the appraisal process. We’ve heard from our members about the need for better understanding in this area, so I’m looking forward to that discussion with appraisal management companies. Clow: What other topics would you say have importance for members?

Mortgage 468

Mortgage Logistics Loan Officers Appraisal Process 468

Housing Wire

MARCH 10, 2023

“Our appraisal, property inspection, title and closing technologies are designed to plug into any digital platform.” Among other initiatives the company is taking to digitize its real estate lending process is expanding its affiliate appraisal management platform AppraisalWorks to include title and closing services, Doman added.

Valuation 397

Valuation Inspection Training Appraisal 397

Housing Wire

SEPTEMBER 23, 2021

Others don’t provide appraisers with accurate enough data. Incenter Appraisal Management’s new remote appraisal inspection tool streamlines the appraisal process while ensuring appraisers stay in control of the inspection and data collection. Incenter recognizes the complexity of the appraisal process.

Appraisal 397

Appraisal Inspection Technology Appraisal Process 397

Housing Wire

NOVEMBER 8, 2021

A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

Clients 418

Clients Agents Buyers Sellers 418

Housing Wire

AUGUST 21, 2023

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.

Real Estate 370

Real Estate Real Estate Agent Technology Investors 370

Appraisal Buzz

APRIL 15, 2024

Appraisers will be presented with the data elements needed to report the characteristics of the subject property, and analyze the market, comparables, and other necessary parts of the appraisal process. Only those data and report elements that are important for the scope of work will be presented to the appraiser.

Appraisal 397

Appraisal Design Lending Technology 397

Housing Wire

APRIL 27, 2021

The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents. In many of those reviewed, there is a strong desire to keep appraisals and appraisers as key components of the mortgage lending process.

Modernization 340

Modernization Appraisal HOA Valuation 340

Housing Wire

JUNE 11, 2021

And there’s one lending partner that has the solutions and resources to give LOs just that. Continuing in the theme of closing loans faster, Rocket Pro TPO has also recently launched an appraisal fee guarantee for its broker partners. The high demand created a shortage of appraisers, sometimes resulting in fee fluctuations.

Appraisal 395

Appraisal Clients Insurance Lending 395

Appraisal Buzz

SEPTEMBER 15, 2021

Envoy is undergoing a digital transformation and providing extensive investment in technology optimization to improve its overall lending solution, resulting in a modern mortgage experience. Envoy recognizes that an appraisal management update will yield a faster time-to-value. “We

Technology 195

Technology Appraisal Modernization Mortgage 195