Housing Wire

MARCH 10, 2023

Fannie Mae has approved six firms to handle its new valuation initiative, which cuts traditional appraisers out of the process and potentially represents the biggest shift in the valuation space in years. Our appraisal, property inspection, title and closing technologies are designed to plug into any digital platform.”

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Valuation Inspection Training Appraisal 397

Housing Wire

MARCH 31, 2022

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.

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Appraisal Valuation Training Government 448

Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long.

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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. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

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Appraisal Valuation Reconsideration of Value Training 396

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

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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Appraisal Valuation Government Appraisal Process 397

Appraisal Buzz

JUNE 26, 2024

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.

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Appraisal Tools Appraisal Process Real Estate 391

Appraisal Buzz

NOVEMBER 3, 2021

Joan Trice, Founder and President of the CRN states, “gross living area (GLA) is one of the most important inputs in a valuation report. It is imperative to set and adopt a standard that can be applied by appraisers as well as other stakeholders. Valuation professional application samples of unique properties.

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Valuation Development Technology Appraisal 370

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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Valuation Appraisal Appraisal Process Technology 199

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!

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Appraisal Process Appraisal Market Value Tenants 148

Housing Wire

MAY 23, 2023

It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. In March , Fannie Mae released an update to its Seller’s Guide that outlined more options for property valuations, including value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals.

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Technology Appraisal Lending Valuation 396

Housing Wire

JUNE 9, 2021

This is a critical advancement in the industry as we’ve seen appraisal timelines continually increase. And third, the foundation of the property valuation methodology must be accurate. From there, the assessor can incorporate into its assessment methodology additional valuation data.

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Appraisal Property Taxes Valuation Technology 418

Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Housing Wire

JUNE 11, 2021

An appraisal is a valuation of a property by a third party. The buyer typically covers the cost of the appraisal. 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.

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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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Law Appraisal Modernization Appraisal Process 418

Housing Wire

JULY 15, 2024

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. Fawaz said alternatives to the conventional appraisal process can reduce time and costs.

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Appraisal Process Valuation Government Mortgage 447

Housing Wire

MAY 25, 2021

Navigating appraisal challenges in today’s housing market. HousingWire recently spoke with PCV Murcor Founder, President and CEO Keith Murray, and COO Cindy Nasser on how the appraisal process can be streamlined in today’s tight housing market. And appraisal waivers would be informed, not blind. Presented by: PCV Murcor.

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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.

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Mortgage Appraisal Process Finance Appraisal 401

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. When COVID-19 complicated the appraisal process, Xome was able to direct its lender clients to its contactless valuation option via a mobile app.

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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. Complexity in Process and Properties. Real Estate valuation can be a complex exercise in problem solving. Opportunities for uniformity are infrequent, and market preferences change over time.

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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.

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Appraisal Appraisal Process Valuation Loan Officers 225

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

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Appraisal Appraisal Process Training Lending 367

Appraisal Buzz

APRIL 15, 2024

Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation. Really, appraisers have always thought this way. Only those data and report elements that are important for the scope of work will be presented to the appraiser.

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Appraisal Design Lending Technology 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.

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Housing Wire

APRIL 6, 2021

One California-based real estate agent who originates her own loans told HousingWire that she believes appraisers are being far too conservative in this high-octane market, and are also using bad comps. She recently had a deal fall apart due to appraisal. How hybrid title and valuations help increase lending efficiency.

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Appraisal Reconsideration of Value Real Estate Agent Sellers 540

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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Real Estate Valuation Lending Appraisal 221

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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Appraisal Inspection Technology Appraisal Process 394

Appraisal Buzz

SEPTEMBER 15, 2021

—Digital transformation is underway with a modern approach to appraisal management—. Boston, September 14, 2021 – Reggora , an appraisal software company, improving residential real estate valuation, announced today that Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal.

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Technology Appraisal Modernization Mortgage 195

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.

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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!

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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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Real Estate Real Estate Agent Technology Investors 370

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. So what can we do? Write about what you do know.

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Business Appraisal Real Estate Agent Lending 394

Housing Wire

DECEMBER 29, 2020

Blend has digitized lending for more than 150 companies before, including Wells Fargo and U.S The San Francisco based mortgage tech startup also achieved unicorn status in August of this year after a $75 million Series F seed round bumped its valuation to $1.7

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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

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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. This commitment to objectivity is important to the appraisal process.

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Appraisal Appraisal Process Valuation Buyers 63

Realvals

FEBRUARY 10, 2025

The appraiser then weighs all factors to arrive at the appraised value. The methodology of this valuation approach is based on the principle of substitution. Role of the Appraiser Appraisers play an important role in real estate transactions. Confidentiality is a key part of the appraisal process.

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Appraisal Property Taxes Real Estate Market Value 78

McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.” Stay tuned.

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