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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. HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?

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House passes bill to modernize VA appraisals

Housing Wire

House of Representatives this week passed a bill that streamlines the appraisal process for U.S. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether. “The

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ClearValue teams with Restb.ai to bring computer vision to appraisal process

Housing Wire

By integrating Restb.ai’s technology into Certainty, we are taking a leap forward in appraisal modernization. This partnership will reduce resource costs, improve the accuracy of reviews, and generate greater efficiencies in the appraisal process.”

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Lenders see appraisal modernization as a top priority

Housing Wire

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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Reshaping appraisals: Jaro’s high-tech solutions innovate the appraisal process in an evolving real estate market

Housing Wire

Jaro’s products are designed to offer new and improved solutions to help lenders tackle modern-day appraisals with pinpoint accuracy designed to eliminate bias and urban pricing discrepancies as homebuyers migrate between the suburbs and major cities. Career Institute. This trend had a profound impact on the housing market.

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Clear Capital launches UDC to support appraisal modernization

Housing Wire

Real estate valuation technology provider Clear Capital on Thursday launched Universal Data Collection (UDC), a product designed to support appraisal modernization. The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement.

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Best practices to speed up the appraisal process

Housing Wire

One reason appraisals are taking less time is the adoption of different appraisal models. For instance, desktop appraisals became a permanent option for certain loans in March 2022, and along with hybrid appraisals, they’re reducing cycle times significantly. Can appraisals keep pace?