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to bring computer vision to its valuationreview platform called Certainty. The companies hope Restb.ai’s technology can help ClearValue’s appraisalreview clients improve efficiency and quality control while also reducing costs. general manager of valuations, said in a statement. In August 2023, Restb.ai
Reviewingappraisal imagery, an essential step in the valuationreview process, is time-consuming and laborious. CoreLogic developed Image Analytics to drive innovation in the appraisalreview process and help lenders and mortgage industry professionals analyze property images quickly and accurately.
AppraisalWorks , Clear Capital Announce Partnership to Streamline Appraisal and ValuationReview for Lenders. Banks, credit unions, loan servicers and mortgage lenders now have access to a suite of tech-enabled products for property valuation.
District Court for the Northern District of California alleging an appraiser and an appraisal management company showed racial bias in the appraisal of a Marin County property owned by a Black couple seeking a mortgage refinance. Read on for more details.
ValuationReview sat down with CBC Mortgage Agency Diversity, Equity & Inclusion Officer Tai Christensen to discuss a variety of aspects surrounding appraisal bias/disparity. Christensen also gave insight as to why minority applicants are likely to receive an appraisal value lower than the contract price.
The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency announced the 2022 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $27,200 to $28,500. The threshold amount will be effective Jan.
In today’s uptick market, appraisers face a variety of challenges stemming from client expectations and from regulatory agencies. Director of Product Management Jeremy Staudenmaier, from ACI-a First American company, shared a few tips with ValuationReview to pass along to appraisers.
With mortgage rates now higher than they have been in a decade, are there any signs of a cooling? The rise of mortgage rates will decrease the number of market participants, which will lessen the demand in turn balance out the market. Appraiser’s Corner. Check out this month’s information just for real estate appraisers.
Many of the areas where we appraise sustained damage, most notably the town of Jacksboro in Jack County. As we have been sharing, our markets have been appreciating at an unprecedented rate in North Texas as the high demand for housing, limited supply, and low mortgages have all fueled this appreciation. What did I miss?
AutomatIQ Collateral, part of CoreLogic’s AutomatIQ Suite of Digital Mortgage Solutions, serves as a single point of access for crucial property underwriting data. AutomatIQ Collateral is a single underwriting system built on automation and analytics and powered by the industry’s most reliable and current collateral data and insights.
The Uniform Appraisal Dataset (UAD) is being updated to reflect changes to the appraisal industry since the current version was adopted in 2010. Addressing future appraisal needs and facilitating ongoing digitization in the appraisal process/mortgage industry was also highlighted.
The Uniform Appraisal Dataset (UAD) is a component of the Uniform Mortgage Data Program, an initiative undertaken by Fannie Mae and Freddie Mac under the direction of the Federal Housing Finance Agency.
Deephaven Mortgage recently announced an alliance with Incenter Appraisal Management. The partnership will give non-agency/non-QM brokers a new competitive advantage by offering remote appraisal services for Deephaven’s loans.
Reggora, an appraisal software company, announced Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal.
Supreme Court remanded to the United States Court of Appeals for the Fourth Circuit the class action lawsuit decided in favor of borrowers alleging tainted appraisals. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans, now Rocket Mortgage, originated from 2004 to 2009.
The many reports recently alleging racial bias in home appraisals has created a not-so favorable image of the appraisal process in the mortgage industry.
Incenter Appraisal Management recently released its RemoteVal technology, which it said dramatically streamlines one of the biggest bottlenecks in mortgage lending: appraisals. RemoteVal empowers appraisers to achieve compliant inspections.
United Wholesale Mortgage (UWM) has launched UWM Appraisal Direct, giving clients another option when ordering appraisals on UWM loans. The program currently is in the pilot stage and was released in all 50 states on Oct.
Better, a digital homeownership company, recently launched Better Appraisal Guarantee enabling mortgage applicants and prospective homebuyers to waive their appraisal contingencies and more effectively compete with cash offers.
Appraiser Scam – Be Careful! Posted Jan 5 on National Appraisers Forum. This was also posted in the 100% Appraisers group on FaceBook as happening to others. Last week, I received a text from “Master Chief Robert Roy” requesting an appraisal for a cash purchase. Appraisal Business Tips .
Global DMS, the leading provider of cloud-based real estate appraisal management software, announced its next-generation EVO platform is now voice-enabled, providing lenders access to key functionality and up to the minute information of their entire pipeline with Amazon’s Alexa voice control.
Appraisal Logistics recently announced its president, Frank Danna, will serve as president of the Maryland Mortgage Bankers and Brokers Association for 2022. Danna is a long-time member of the organization and has served in various capacities through the years, but this is first time serving as president. Read on to learn more.
The Mortgage Industry Standards Maintenance Organization recently said it is seeking public comment on its Commercial Appraisal Dataset, according to an announcement from the Mortgage Bankers Association. Read on to learn more.
The Federal Housing Finance Agency announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities. Additionally, Freddie Mac and Fannie Mae will incorporate desktop appraisals into their selling guides.
Mortgage Connect LP, a national mortgage services provider for the nation’s largest financial institutions, investors and servicers, recently announced Andrew Bough has joined the company as executive vice president, as well as head of valuations.
ForbesBooks author Tim Pagliara recently addressed the issue of the government needing to fill gaps for minorities and the middle class to access mortgages. We expanded our discussion with Pagliara, founder, chairman, and chief investment officer of CapWealth, to the current market trends that need to be watched. Read on to learn more.
Using an Automated Valuation Model (AVM) for real estate valuations isn’t new in the mortgage industry. Each year, technology plays more of a role in valuing homes for property appraisals , loan originations, secondary market investments, and even portfolio monitoring.
Valuation Connect, an appraisal management company and division of Mortgage Connect LP, recently appointed Shawn Murphy as its executive vice president of traditional appraisal operations, according to a release. Read on for more about Murphy’s assignment.
Class Valuation has acquired South Carolina-based appraisal management company (AMC) SouthEastern Evaluation (SEE), the company announced. Class Valuation is a technology-enabled AMC focused on providing regulatory-compliant appraisals to the nation’s largest mortgage lenders and originators.
ClearValue Consulting, a provider of enterprise-class vendor management technology for the mortgage industry, announced a partnership with ValueScape Analytics. This partnership allows artificial intelligence technology usage to enhance ClearValue Consulting’s CLARITY appraisalreview engine.
SettlementOne Valuation, a leading provider of appraisal management services to the U.S. mortgage industry, recently announced the hiring of Stephen French as chief executive officer. French also will be appointed to the SettlementOne Valuation Board of Managers.
The year 2021 is off to a fast start for AppraisalVision as the company begins its hiring spree for mortgage and appraisal professionals to keep up with their increasing number of client implementations. Read on for more information.
The COVID-19 pandemic has significantly impacted the mortgage industry, creating business and operational changes for both lenders and servicers. According to Black Knight, one of the important changes resulting from the pandemic is the accelerated use of appraisal alternatives. Read on to learn more.
UniversalCIS, a market-leading, technology-enabled provider of credit data and related origination solutions in the mortgage industry, acquired the Lending Solutions and Appraisal Management Divisions of Data Facts, a national and international consumer reporting company.
Department of Housing and Urban Development has approved a conciliation agreement between JPMorgan Chase Bank and an African American woman, resolving the woman’s claim the mortgage lender, relying on an appraisal that she believed was inaccurate, valued her home at an amount lower than its actual worth because of her race.
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