Housing Wire

DECEMBER 11, 2020

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan. 31, 2021. “We

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Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. The initiative includes three new exclusive rates – 5.749% paying 1.5 points, 5.999% paying 2 points and 6.249% paying 2.5

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Housing Wire

MARCH 11, 2021

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021.

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Housing Wire

AUGUST 6, 2024

A policy designed for lenders to review and respond to borrower-initiated reconsideration of value (ROV) requests for appraisals — originally scheduled to be implemented between Aug. These include “improvements to the process by which borrowers may request an ROV if they identify a problem with the appraisal,” the original ML said.

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Housing Wire

MARCH 23, 2022

The Department of Housing and Urban Development ’s long-awaited action plan on appraisal bias outlines administrative actions the federal government will quickly take to address mis-valuations. But the report fails to offer a clear plan to release appraisal data from the government sponsored enterprises.

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Appraisal Reconsideration of Value Government Valuation 448

Housing Wire

DECEMBER 5, 2024

Department of Housing and Urban Development (HUD), alleging the agency is “unfairly” holding the company accountable for the actions of an independent appraiser in a 2021 case. We cannot affect or influence the appraised value — there has to be independence that goes all the way back to the Dodd-Frank Act. “For

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Housing Wire

JANUARY 3, 2022

Appraisal management company Clear Capital , in the latest effort to revamp the appraisal process, hopes to automate property photo reviews to ensure data and photo consistency with its photo review product , ClearPhoto. Permanent desktop appraisals are a win for everyone – here’s why. Presented by: Accurate Group.

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Tools Appraisal Appraisal Process Real Estate 459

Appraisal Buzz

DECEMBER 10, 2024

More than half of recent mortgages were government loans in Colorado Springs, Colorado; El Paso, Texas; and Virginia Beach, Virginia because of high VA-loan usage. Nearly three in four mortgage loans were government loans in El Paso, with 29.3% Miami leads with 42.7% comprised of VA loans and 41% were FHA loans.

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Housing Wire

MAY 2, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.”

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Appraisal Buzz

FEBRUARY 20, 2025

Open to all mortgage lending and servicing professionals, GSEs , government entities, and Legal League members, the annual Spring Servicer Summit gathers the nations elite financial services law firms to discuss default policies, procedures, and emerging issues with leading mortgage servicing executives.

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Housing Wire

SEPTEMBER 7, 2023

The Appraisal Institute , the nation’s largest professional association of real estate appraisers, appointed Cindy Chance as chief executive officer, the trade organization announced. The Appraisal Institute has been criticized for a lack of diversity in its ranks and acknowledged a need to modernize. as Hispanic.

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Housing Wire

MARCH 31, 2022

Congress hopes to supplant the appraisal governing body at the center of the industry’s self-regulated framework and make public the trove of appraisal data held by the government-sponsored enterprises. The registry would also track whether an appraiser had completed the minimum required fair housing training.

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Appraisal Buzz

FEBRUARY 3, 2025

In 1986, five years after the launch of the first space shuttle, Fannie Mae and Freddie Mac introduced the Uniform Residential Appraisal Report (URAR) form. Residential appraisers still use this form, albeit with some minor modifications, to this day. These alterations align more closely with appraisal methodology.

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Housing Wire

JULY 11, 2024

The Appraisal Foundation , a private organization that is the de facto regulator of appraisers , has settled with the United States Department of Housing and Urban Development (HUD) over allegations that its qualification program violated the Fair Housing Act. White and 0.6%

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Appraisal Valuation Development Property Appraisal 432

Housing Wire

OCTOBER 16, 2024

Reggora CEO Brian Zitin said his company is looking to help mortgage lenders by removing the need to manually underwrite most appraisals. Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. decline from Q1 2024.

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Appraisal Mortgage Valuation Technology 435

Appraisal Buzz

APRIL 8, 2024

The Dawn of a New Appraisal Era In the ever-evolving realm of technology, few innovations have garnered as much attention and promise as blockchain. One of its most intriguing applications lies in the domain of appraisals. Understanding the Basics: What is Blockchain?

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Appraisal Buzz

FEBRUARY 7, 2022

Fannie Mae announced on January 19, 2022 that they will be accepting desktop appraisals for eligible loan transactions. The team at Fannie Mae were the first to announce requirements lockstep with their Regulator that desktop appraisals will become a normal part of the appraisal product landscape. Appraisal Labels.

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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

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Housing Wire

AUGUST 25, 2022

With recent developments from Fannie Mae and Freddie Mac to pursue a more digital appraisal process that could both speed up the process and remove any unconscious bias from it, it is important for industry professionals across the space to stay at the top of their game. 3-5 is proud to present an appraisal-centered session this year.

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Housing Wire

SEPTEMBER 13, 2024

Cindy Chance, the CEO of the Appraisal Institute , was terminated during what she described as a “secret board meeting” on Thursday night that she was excluded from. “We want to reassure you that we take our mission as Directors of the Appraisal Institute seriously. . appraisers say they are male, 1.3%

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Housing Wire

FEBRUARY 12, 2024

The Federal Financial Institutions Examination Council (FFIEC) on Monday issued a statement outlining examination principles related to valuation and appraisal discrimination or bias in residential lending. FFIEC is a federal interagency coalition consisting of the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corp.

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Housing Wire

JUNE 22, 2023

Appraisal Insights , an appraisal education company committed to eradicating bias, announced its official launch this week. The goal is to quip key stakeholders and decision-makers in the housing industry with the knowledge necessary for preventing bias and enhancing the quality and integrity of real estate appraisals.

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Appraisal Buzz

DECEMBER 6, 2024

The report , which includes government-sponsored enterprise (GSE) mortgage data for manufactured homes, reveals that between 2000 and 2024, manufactured homes appreciated at nearly identical rates to site-built homes, growing approximately 5% annually.

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Appraisal Buzz

FEBRUARY 11, 2025

While the Government MCAI climbed by 1%, the Conventional MCAI increased by 3.8%. Key Highlights Conventional, Government, Conforming & Jumbo Indices In January, the MCAI increased by 2.5% While the Government MCAI climbed by 1%, the Conventional MCAI increased by 3.8%. In March 2012, the index was benchmarked at 100.

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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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Appraisal Buzz

MARCH 17, 2025

The post Homeowners Have Gained Nearly $300B in Home Equity appeared first on Appraisal Buzz. In particular, a number of Floridas markets, including Cape Coral, Sarasota, Lakeland and Tampa have experienced weakening prices over the past year, which led to Floridas average equity declining by about $18,000 at the end of 2024.

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Housing Wire

JUNE 25, 2024

The Consumer Financial Protection Bureau (CFPB) this week announced the approval of a new rule that aims to govern “current and future applications of complex algorithms and artificial intelligence used to estimate the value of a home.” businesses.

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Appraisal Buzz

OCTOBER 24, 2024

Following the implementation of government interventions, moratoriums, and economic assistance initiatives, the number of commercial foreclosures fell to just 144 by April 2020. Commercial Foreclosures Spike YoY appeared first on Appraisal Buzz. This pattern persisted throughout the years before to the pandemic. The post U.S.

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Housing Wire

NOVEMBER 15, 2023

Michigan-based United Wholesale Mortgage (UWM) wants to court more brokers by offering no-cost appraisals on 1-0 temporary rate buydowns amid fierce competition in the industry.

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Housing Wire

JULY 1, 2024

Adding to this challenging financial reality, the “ COVID ” vintage of loans has led to brutal repurchase costs for lenders, significantly driven by appraisal defects. Data from the most recent ACES Mortgage QC Industry Trends Report shows a year-over-year increase in appraisal-related defects.

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Appraisal Reconsideration of Value Technology Tools 435

Appraisal Buzz

SEPTEMBER 30, 2024

The 16th annual Appraisal Summit , held from September 14th to 17th, 2024 at Planet Hollywood in Las Vegas, provided attendees with a packed agenda of education, panel discussions, networking opportunities, and more. Kelly Davids , from The Appraisal Foundation, followed with a session titled “What’s Happening in DC?”

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. Made to order.

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Housing Wire

JANUARY 24, 2023

appraisal system, some experts say there’s no point in nibbling at the edges. Chopra spoke during the first-ever Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC) hearing, which focused on appraisal bias. The Subcommittee has authority over the state programs on appraisals. “We

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Appraisal Buzz

JANUARY 6, 2025

As part of its ongoing efforts and a larger, whole-of-government strategy to assist families in recovering from the economic and public health effects of the COVID-19 pandemic, HUD established the Eviction Protection Grant Program (EPGP) in 2021.

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Appraisal Buzz

DECEMBER 20, 2024

This updated report offers insights and tips on what is possible when governments and CLTs work together toward the shared goal of creating permanently affordable homeownership. State governments are increasingly providing legislative and financial support for CLTs from Connecticut to Texas.

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Appraisal Buzz

MARCH 17, 2025

Both conventional and government credit supply expanded over the month. The Government MCAI grew by 1.4%, while the Conventional MCAI increased by 1.3%. The Government MCAI grew by 1.4%, while the Conventional MCAI increased by 1.3%. In February, the MCAI increased by 1.4% In March 2012, the index was benchmarked at 100.

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Appraisal Buzz

APRIL 3, 2025

In the top three markets experiencing a reduction in pending home sales, Virginia Beach, VA (-14.2%), which has a high proportion of federal government employees, and Jacksonville and Miami (-15.1% which likewise has a large proportion of federal government employees, came in at number ten. Remarkably, with a 7.9%

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