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Why is now the time for lenders to modernize their appraisal processes

Housing Wire

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. Erin Reed : Lenders are looking for a solution that improves the overall cycle time while maintaining the quality of a traditional appraisal report.

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The appraisal revolution: How Opteon is transforming the lending landscape

Housing Wire

Opteon, a leader in the appraisal and property valuation industry, utilizes their tech-enabled service fulfillment to streamline and enhance the appraisal process. This blend of technology and human expertise sets Opteon apart from traditional appraisal methods, providing a more robust and accurate appraisal process.

Lending 458
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3 misconceptions about using AVMs in home equity lending

Housing Wire

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. Misconception #1: You need an appraisal every time you do a loan.

Lending 412
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Critical defects increase as refi market fades

Housing Wire

Mortgage lenders generated more defective loans in the second quarter, reflecting the transition from a refinance to a purchase market, according to ACES Quality Management ’s latest critical defect report. Property appreciation is still very strong, but the appraisal process becomes more important in a purchase-driven market.

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Wells Fargo extends $5,000 closing cost credit

Housing Wire

It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees. Since January 2023, the bank has changed its strategy in home lending to focus on bank customers and minority homebuyers through its retail mortgage teams.

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Lunch & Learn about the latest FHFA and HUD policy changes affecting lenders

Housing Wire

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. Get More Info.

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How AI is changing the valuations process

Housing Wire

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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