Housing Wire

SEPTEMBER 21, 2021

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. Now the administration is mandating the use of the platform starting next year.

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Housing Wire

JANUARY 24, 2025

A group of 2,769 West Virginian borrowers claimed in the lawsuit, which was originally filed on July 23, 2012, that Rocket Mortgage (known then as Quicken Loans ) and its insurance arm, Amrock (formerly Title Source ), were unfairly influencing home appraisal values. Rocket Mortgage has faced other legal activity over the last year.

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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

APRIL 24, 2023

The Mortgage Bankers Association (MBA) filed an amicus brief on Friday in response to the Consumer Financial Protection Bureau (CFPB) and the Department of Justice ‘s interest in determining a liability standard that would apply to lenders in cases of alleged bias by third-party appraisers. ”

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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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Housing Wire

AUGUST 2, 2022

The Department of Veterans’ Affairs announced last week that it would allow desktop and exterior-only appraisals for some transactions. In a department memo, the VA explained that the move was a response to “high demand for appraisal services and limited availability of appraisers in certain local market areas.”.

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Appraisal Appraisal Process Renovations Finance 370

Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic. Scott Murphy, CEO of D.S.

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Appraiserblogs

JUNE 13, 2024

Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners. In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability.

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Appraisal Buzz

JUNE 8, 2022

Reggora , an appraisal management software company, is offering a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance. The evaluation will review appraisal costs, turn times. of closings are delayed because of the appraisal, and part of the delay is actually within.

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Appraisal Buzz

JUNE 8, 2022

Reggora , an appraisal management software company, is offering a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance. The evaluation will review appraisal costs, turn times. of closings are delayed because of the appraisal, and part of the delay is actually within.

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Mortgage Appraisal Appraisal Mortgage 150

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.

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Appraisal Buzz

JULY 28, 2022

There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers. The mortgage appraisal forms we use today were designed in 2005 using technology and mortgage processes in place at the time.

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Appraisal Buzz

JULY 15, 2024

I had just returned from college, and back then, there was no appraisal software available. 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 problem is… it’s not a form.

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Appraiserblogs

MARCH 7, 2024

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. appeared on Appraisers Blogs.

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Appraisal Hub

DECEMBER 11, 2024

Thats why understanding home inspections and home appraisals is your first step to making a smart investment. Home Appraisals: Whats the House Really Worth? A home appraisal determines the fair market value of the property. A licensed appraiser evaluates similar homes’ size, condition, location, and recent sales.

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Housing Wire

AUGUST 3, 2022

National appraisal management company Class Valuation is extending its reach, with the acquisition of yet another appraisal management company. According to a Class Valuation press release, AppraisalTek operates in all 50 states, as well as the District of Columbia, and has a “significant staff appraiser impression” in Arizona.

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Housing Wire

MAY 25, 2022

The VA also expects to overhaul its procedure on appraisals following the mid-May introduction of legislation in the Senate aimed at streamlining the appraisal process for VA loans. The legislation would remove a stipulation requiring all VA appraisals to be performed in-house. If passed, the legislation introduced by Sen.

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Housing Wire

JULY 2, 2024

“The data released today will provide insights into consumer behavior and borrowers’ experiences, leading to better analysis of how mortgage processes could be improved for future borrowers.” The new dataset also includes insights from three additional questions the survey first asked borrowers beginning in 2021.

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Annarbor Appraisal

SEPTEMBER 6, 2020

Challenging the results of the appraisal for mortgage financing. Even though the consumer may pay for the appraisal, they are no more the client than is the credit reporting agency or title company hired directly by the lender. Another possible reason for an ROV would be incorrect information in the appraisal report.

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Padove Appraisal Service

FEBRUARY 27, 2023

Many people’s experiences with real estate appraisals are limited to mortgage applications. The appraiser is usually selected, and the report ordered through the lender. The task of selecting an appraiser for purposes such as estate planning and settlement, divorce, tax appeal, etc.,

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Housing Wire

NOVEMBER 8, 2021

There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle. 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.

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Miller Samuel

APRIL 27, 2019

The bill summary was: Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state. No, it isn't.

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Housing Wire

MARCH 8, 2023

To be eligible, borrowers are required to upload all documents — including pay stubs, bank statements and a copy of a complete purchase agreement for the subject property of their mortgage loan. Properties must also be eligible for an appraisal waiver and borrowers must opt-in for automated income and asset verification.

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Housing Wire

MARCH 31, 2021

The above agencies also signed a statement outlining flexibilities on industry appraisal standards and then addressed appraisal regulations for Fannie and Freddie a week later. The CFPB said it will also be removing its signature from this letter.

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Housing Wire

SEPTEMBER 9, 2020

For our seller-clients, we were counseling them on how the buyers waive appraisals or waive mortgage contingencies,” Cordano said. “With the influx of New York City buyers bidding these houses up, oftentimes waiving the financing/mortgage/appraisal contingencies was not a difficult thing to ask for and most of them did that.”.

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Birmingham Appraisal

SEPTEMBER 15, 2022

What New Homebuyers Need To Know About Appraisals. In this new homebuyer’s guide to appraisals, I’ll help you understand the process during your first home purchase. I would like to do my part by informing and educating you on the appraisal part of the transaction. What is a Mortgage Appraisal?

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McKissock

DECEMBER 28, 2021

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. Desktop appraisals, with information provided by third-party hirelings, may increase.

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Appraisal Hub

SEPTEMBER 8, 2023

One crucial step that often goes unnoticed by many prospective homeowners is the mortgage appraisal. This step is not just a formality; it plays a pivotal role in determining whether or not you get approved for a mortgage. A mortgage appraisal is an unbiased estimate of the true (or fair market) value of a property.

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Birmingham Appraisal

AUGUST 23, 2023

How Can Appraisers and Agents Work Together? In the often chaotic world of real estate, the appraiser-agent relationship can contribute to a smoother process. There are many areas that appraisers and agents can inform and educate one another so that each of their jobs is done more successfully.

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Appraisal Buzz

JULY 20, 2022

Indianapolis, Indiana, July 20, 2022 (AppraisalBuzz.com; Newswire.com) – SettlementOne Valuation, a leading provider of credit, data, and appraisal management services to the U.S. mortgage industry, today announced the hiring of Michelle Mencarini, Vice President of National Sales. About SettlementOne Valuation .

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Housing Wire

AUGUST 2, 2022

They come from all corners of the industry, including mortgage, appraisal, real estate, finance and more. This forum brings together the most impactful leaders in housing, all committed to moving the housing market forward,” said Collins. Vanguard honorees are c-suite leaders who have made a clear difference in their respective fields.

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Appraisal Hub

MARCH 19, 2023

A home appraisal in Toronto is necessary when applying for a mortgage, refinancing, or selling your house. This appraisal will give you critical information to help you make informed choices and understand the true value of the asset. Keep reading to find out more about its significance and understand the appraisal process.

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McKissock

JULY 28, 2022

There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers. The mortgage appraisal forms we use today were designed in 2005 using technology and mortgage processes in place at the time.

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Appraisal Technology Valuation Real Estate 83

AmeriMac

JANUARY 30, 2024

What is a Reverse Mortgage Appraisal? A reverse mortgage appraisal is an evaluation of a property’s value to determine how much money can be borrowed through a reverse mortgage. The appraisal is important because it helps lenders assess the risk associated with the reverse mortgage loan.

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AmeriMac

MARCH 29, 2024

One important aspect of the reverse mortgage process is the appraisal, which determines the value of the property and plays a crucial role in determining the size of the loan. Understanding reverse mortgages can be complex, but it essentially involves converting a portion of the home’s equity into usable cash.

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Appraisal Today

MARCH 15, 2024

How To Appraise Rural Properties Excerpts: Appraising residential properties in rural areas can be both challenging and rewarding. Whether you’re a seasoned appraiser or new to the field, having a better understanding of rural properties is essential for providing credible appraisals. Well written.

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Appraisal Hub

JULY 29, 2021

As a result, appraisal firms found an uptick in the demand for residential appraisals due to the pandemic. There is also a higher demand for desktop appraisal services as well as commercial property appraisers in Toronto. Home and Mortgage Appraisals. Desktop Appraisals. Commercial Appraisals.

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