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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

Under federal law, mortgage lenders are required to work at arm’s length during the appraisal process, partnering with independent appraisal management companies who assign the work to state-licensed professional appraisers,” a spokesperson for Rocket told HousingWire.

Appraisal 487
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Progress now or perfect later: Improving the appraisal process

Housing Wire

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. housing cannot be accomplished with a focus on appraisal alone.

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Will hybrid appraisals become the new normal?

Housing Wire

According to FHFA director Mark Calabria, modernizing the appraisal process has the potential to create a more “streamlined and accurate collateral valuation process.” The comments we receive will inform how we will modernize appraisals to improve both loan quality and the origination process.”.

Appraisal 468
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CFPB Approves Rule to Ensure Accuracy in Home Appraisals 

Appraisal Buzz

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.

Appraisal 392
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Real estate is a people business, but automation can help

Housing Wire

So much of life radiates from both the location and the valuation of the house a family occupies. As mentioned, much is determined by the location and valuation of houses. Of these, one stands tall: valuation. The task is best suited for advanced technologies, collectively referred to as AI and machine learning.

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The New UAD: “Don’t Borrow Trouble.”

Appraisal Buzz

That’s how I first got involved in valuation technology. He taught me more than just appraisal; he taught me about life, often through a multitude of enigmatic phrases like “better than a poke in the eye with a sharp stick” or “don’t borrow trouble.” The most innovative solutions will involve a combination of both processes.

Appraisal 363
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Supporting Market Conditions Adjustments: A Comprehensive Guide for Appraisers

Appraisal Buzz

The goal is to make sure every adjustment is defensible, based on empirical evidence, and can withstand scrutiny from all stakeholders involved in the appraisal process. This comprehensive approach ultimately leads to more accurate, credible, and reliable valuations that reflect current market conditions.

Appraisal 358