Housing Wire

OCTOBER 4, 2023

HousingWire recently spoke to Chris McLain, division president of Valuations for Consolidated Analytics , about the current appraisals market, AI innovation in valuations and valuation products for HELOCs and second-lien mortgages. HousingWire: How is the market for appraisals changing in 2024?

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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.

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Housing Wire

DECEMBER 21, 2023

VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market. 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. REALITY: There is no limit.

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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. Most lenders will request the fee simple interest be appraised. Note that U.S. Value Scenarios.

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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.

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Housing Wire

JUNE 11, 2021

A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value. For example, an appraiser will check the condition of the walls, roof, floors and the structure’s overall integrity.

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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.

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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.

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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.

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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.”.

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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.

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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.

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Simonson Real Estate

AUGUST 24, 2020

Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. . At Simonson Appraisals, our team works tirelessly to ensure those worries are needless. This allows us to continue to deliver well-reasoned and credible appraisal reports.

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Housing Wire

JULY 15, 2024

With our home equity program, we want to make sure that we’re offering our broker partners a product they can win in this market and help their clients.” Fawaz said alternatives to the conventional appraisal process can reduce time and costs. It starts on Monday and is valid until Aug.

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Appraisal Buzz

MAY 9, 2022

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. However, statistics do not support this logic.

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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. Opportunities for uniformity are infrequent, and market preferences change over time. Users will re-engage the appraiser once they attain a level of confidence in that professional’s ability.

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Housing Wire

JUNE 9, 2021

HousingWire recently spoke with Jim Albeertelli, CEO of Voxtur, about the company’s r ecent acquisition and launch of an automated workflow management platform for the global market. HousingWire: What can the industry at large do to support the work of appraisers right now?

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Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. Half my work is non-lending work, and that’s been a blessing. Everyone’s market is different.

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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.

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Housing Wire

DECEMBER 29, 2020

Data and analytics giant Black Knight made moves in the secondary mortgage market again, launching its Mandatory Analytics dashboard that will allow investors to analyze and benchmark their actions on the secondary market. Today’s secondary mortgage market is one marked by intense volatility and fierce competition,” said Happ.

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Housing Wire

APRIL 6, 2021

The gap between appraisal and what buyers are willing to pay in one of the wildest real estate markets in modern history has created friction between agents, lenders and appraisers working under stressful conditions. She recently had a deal fall apart due to appraisal. Streamline by combining services. million,” he added.

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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.

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Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. Even under “normal” market conditions, VA buyers struggle to successfully purchase a home using their benefit.

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Housing Wire

JUNE 11, 2021

And there’s one lending partner that has the solutions and resources to give LOs just that. We’ve been growing our team to support our partners and that is paying off for brokers during this wild purchase market.”. The high demand created a shortage of appraisers, sometimes resulting in fee fluctuations.

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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.

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Housing Wire

MAY 25, 2021

Appraisal costs have also soared 24% since 2016, according to the Freddie Mac data. Appraiser shortage. A 2017 study conducted by the National Association of Realtors found that “lack of training, downward trends in compensation, and increasing regulation,” were driving both existing and would-be appraisers away from the industry.

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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.

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Housing Wire

APRIL 27, 2021

In many of those reviewed, there is a strong desire to keep appraisals and appraisers as key components of the mortgage lending process. A desire to see the collateral analysis and valuation process evolve, modernize, and move forward—whatever term you prefer.

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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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Miller Samuel

FEBRUARY 12, 2019

Over the years, I have bantered with the Espinal Adler Team (Marie Espinal and Jeff Adler) at Douglas Elliman Real Estate about the market which has been invaluable for on the ground intel. I hope you find that this apple was fully peeled: Jonathan Miller’s Market Outlook. And, in-turn, when the market falls, it will fall forever.

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Housing Wire

OCTOBER 26, 2020

In times like these, the “one-stop-shop” approach to the servicing and lending process has become even more appealing, and there is a company providing that in a flexible capacity: Xome. As low mortgage rates continue to fuel the housing market, lenders are reporting record-breaking purchase and refinance volumes.

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Simonson Real Estate

DECEMBER 6, 2022

Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisal process for the first time.

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Appraisal Buzz

AUGUST 12, 2024

Additionally, appraisers should clearly communicate their pricing structures to clients, emphasizing the scope of work and the time required to complete that scope credibly. TRID is a set of regulations that combine the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA).

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Realvals

FEBRUARY 10, 2025

These comparables or “comps” help determine the home’s value in the current market. The appraiser then weighs all factors to arrive at the appraised value. This figure represents the property’s fair market value. Confidentiality is a key part of the appraisal process.

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Appraisal Buzz

MAY 31, 2022

As we all know, the home valuation is an integral part of the lending process that helps Americans in their journey to homeownership. This series of articles explores the role of appraisal review processes in the risk system in the format of mortgage lending for 1-4 family real estate.

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Birmingham Appraisal

JANUARY 29, 2025

Brush Up On Your Appraisal Knowledge Most people have a basic understanding of the appraisal process. If you’ve ever purchased a home or refinanced your mortgage you’ve most likely had to get your home appraised. By analyzing all three, appraisers get a well-rounded view of the markets activity.

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Appraisal Buzz

JULY 8, 2024

Heck, appraisal modernization was being discussed by FNMA and Freddie Mac in 2016! Moves to modernize The most recent efforts to “modernize” the appraisal process was highlighted significantly due to the years of the pandemic when appraisal turn times and fees reached all-time highs.

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