Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. An appraisal is a valuation of a property by a third party.

Inspection 459

Inspection Appraisal Appraisal Process Buyers 459

Appraisal Buzz

JUNE 26, 2024

A proper home appraisal is essential whether purchasing or selling a property. This appraisal is used by mortgage lenders to calculate the maximum amount they will lend on a property. Many even watch the worth of their own homes, which are produced by these algorithmic appraisal techniques, on well-known real estate websites.

Appraisal 391

Appraisal Tools Appraisal Process Real Estate 391

Housing Wire

APRIL 6, 2021

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal. How hybrid title and valuations help increase lending efficiency.

Appraisal 540

Appraisal Reconsideration of Value Real Estate Agent Sellers 540

Housing Wire

AUGUST 14, 2023

Appraisal modernization is generating a lot of buzz in the real estate lending industry. Expanded use of desktop appraisal technology began out of necessity during the COVID-19 pandemic. However, is appraisal modernization on its own enough? However, is appraisal modernization on its own enough?

Modernization 370

Modernization Appraisal Technology Appraisal Process 370

Housing Wire

MAY 23, 2023

In the past few years, appraisal bias has come to the forefront of conversations about appraisals and how they can be improved. It’s a problem, it’s real, it’s documentable,” said Shannon Johnson, Touchless Lending product manager at Tavant. We often hear the statistic that the average appraiser is a 57-year-old white male.

Technology 397

Technology Appraisal Lending Valuation 397

Housing Wire

APRIL 6, 2023

The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) in May for its second public hearing on appraisal bias. At the first ASC hearing in January, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra took aim at the dysfunctional regulatory system that governs the appraisal industry. “I

Appraisal 397

Appraisal Valuation Government Appraisal Process 397

Housing Wire

OCTOBER 29, 2021

JPMorgan Chase recently donated $3 million to the Appraiser Diversity Initiative , putting its financial support behind a growing movement to bring more diversity to the residential appraisal field. In addition to driving sustainable homeownership, we’re working with our partners to root out bias in the residential appraisal process.

Appraisal 370

Appraisal Appraisal Process Training Lending 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. As appraisers, we know! GET A WEBSITE.

Business 393

Business Appraisal Real Estate Agent Lending 393

Housing Wire

SEPTEMBER 23, 2021

Appraisers have experienced many challenges in the last couple of years. From juggling high volume demand for appraisals in the middle of a pandemic, appraisers had to radically change their processes. Remote inspections have the power to make homeowners and appraisers more comfortable. Introducing RemoteVal.

Appraisal 397

Appraisal Inspection Technology Appraisal Process 397

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.

Appraisal 397

Appraisal Valuation Reconsideration of Value Training 397

Housing Wire

JUNE 9, 2021

As the appraisal industry struggles to meet demand, Voxtur has developed a solution to streamline the process. HousingWire: What can the industry at large do to support the work of appraisers right now? HousingWire: What can the industry at large do to support the work of appraisers right now? This is misguided.

Appraisal 418

Appraisal Property Taxes Valuation Technology 418

Appraisal Buzz

SEPTEMBER 1, 2021

Incenter Appraisal Management ’s new RemoteVal technology works to streamline one of the biggest bottlenecks in mortgage lending: appraisals. Already being piloted nationally, RemoteVal is empowering appraisers to complete thorough, compliant appraisal inspections without ever leaving their desks.

Appraisal Process 150

Appraisal Process Appraisal Inspection Lending 150

Appraisal Buzz

SEPTEMBER 5, 2022

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The Recent History of Appraisal Revisions. Complexity in Process and Properties.

Appraisal 281

Appraisal Modernization Appraisal Process Technology 281

Housing Wire

MAY 25, 2021

The FHFA’s engagement of industry stakeholders signifies a critical inflection point for appraisal transformation. For example, appraisal turn time has swelled 65% from 2018, according to recent data published by Freddie Mac. Appraisal costs have also soared 24% since 2016, according to the Freddie Mac data. Appraiser shortage.

Appraisal 370

Appraisal Valuation Real Estate Modernization 370

Housing Wire

JUNE 17, 2024

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.

Lending 482

Lending Retail Appraisal Process Mortgage 482

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 is an Appraisal ? Defining the Appraisal Scope of Work.

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

Housing Wire

OCTOBER 4, 2023

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? Then we did more of the same.

Valuation 435

Valuation Appraisal Process Appraisal Lending 435

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.

Mortgage 421

Mortgage Appraisal Process Finance Appraisal 421

Housing Wire

APRIL 27, 2021

Here it is: another article about appraisal modernization. Many are tired of hearing about how the appraisal industry needs to change and progress. 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.

Modernization 312

Modernization Appraisal HOA Valuation 312

Housing Wire

DECEMBER 21, 2021

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.

Appraisal Process 432

Appraisal Process Lending Finance Appraisal 432

Housing Wire

OCTOBER 5, 2022

Fannie Mae and Freddie Mac are working to provide more loss mitigation options to borrowers, studying ways to address appraisal bias and encouraging lending for manufactured homes, she said. Appraisal bias. The main challenge at present is affordability, Thompson told attendees. Racial bias is very real.

Appraisal 370

Appraisal Tenants Appraisal Process Mortgage 370

Housing Wire

DECEMBER 21, 2023

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. This product allows a homebuyer to purchase a fixer-upper and finance the purchase and renovation in one loan based on the expected appraised value of the home after improvements.

Mortgage 468

Mortgage Renovations Appraisal Process Finance 468

Realvals

FEBRUARY 10, 2025

Appraisals play an important role in real estate transactions, but privacy is always a concern. Home appraisals are never publicly available and are only shared with the appraiser’s client and authorized parties. This means that the general public cannot access your home’s appraisal report without permission first.

Appraisal 78

Appraisal Property Taxes Real Estate Market Value 78

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.

Modernization 83

Modernization Real Estate Agent Appraisal Process Reconsideration of Value 83

Appraisal Buzz

MARCH 23, 2022

The PAVE Action Plan is aimed at advancing equity in the appraisal process and promoting generational wealth creation through homeownership. The post New Biden Plan Seeks to Eliminate Bias in Home Lending and Appraisals appeared first on DSNews.

Lending 150

Lending Appraisal Appraisal Process 150

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.

Appraisal 228

Appraisal Appraisal Process Valuation Loan Officers 228

Appraisal Buzz

MAY 9, 2022

It is no secret that log homes do not appraise well. The question is raised as to what is the real problem with log home valuation and what is the problem with appraisers working in the niche log home market? Many appraisers in urban areas like Chicago believe that the log home market is irrelevant and is not worth exploring.

Valuation 396

Valuation Legal Construction Appraisal 396

Appraisal Buzz

APRIL 15, 2024

By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. It all starts with the standard appraisal forms used in the mortgage process.

Appraisal 397

Appraisal Design Lending Technology 397

Housing Wire

DECEMBER 13, 2021

According to the report, defects in the appraisal category also more than doubled to 5.42% in the second quarter. ACES said appraisal issues are well documented, with most of the concern centered around rising appraisal costs, long turnaround times, and a shortage of qualified appraisers.

Marketing 418

Marketing Appraisal Process Legal Appraisal 418

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.

Valuation 201

Valuation Appraisal Appraisal Process Technology 201

Appraisal Buzz

NOVEMBER 3, 2021

It is imperative to set and adopt a standard that can be applied by appraisers as well as other stakeholders. As the appraisal process is undergoing major shifts towards modernization and new levels of automation, this void was ripe for a solution.

Valuation 370

Valuation Development Technology Appraisal 370

Housing Wire

MAY 11, 2022

As profit margins tighten, lending professionals are seeking out solutions to increase efficiencies wherever possible. Key areas with room for improvement concerning tech adoption and efficiency include the appraisal and title processes, according to Jennings. “??The

Appraisal Process 390

Appraisal Process Lending Technology Appraisal 390

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Ed Gerding: Sure.

Lending 444

Lending Tools Investors Inspection 444

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.”

Valuation 397

Valuation Inspection Training Appraisal 397

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.

Technology 195

Technology Appraisal Modernization Mortgage 195

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.

Tools 435

Tools Lending Valuation Technology 435

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. By analyzing all three, appraisers get a well-rounded view of the markets activity.

Appraisal 63

Appraisal Appraisal Process Valuation Buyers 63