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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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Reverse mortgage industry prepares for annual meeting in San Diego

Housing Wire

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?

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Busting VA mortgage loan myths

Housing Wire

I’m here to debunk the myths and explain why every veteran and qualifying service member should embrace this well-deserved benefit and capitalize on the opportunities it presents. 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.

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Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

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.

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How data and technology can combat appraisal bias

Housing Wire

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. At Tavant , they’re taking a look at the past and present of appraisals to prepare for a better future. On an industry leader level, that is where we need to be.

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Reevaluating your origination tools? Here’s where to start

Housing Wire

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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Opinion: The pros and cons of VA modernization bill

Housing Wire

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.