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

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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Appraisal Buzz

DECEMBER 7, 2021

Whether you’re a new appraiser or a seasoned appraiser looking to grow your income, you probably want to know, “What appraisal competencies do I need to master in order to maximize my success?” Key appraisal competencies Manage business expenses.

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Housing Wire

AUGUST 11, 2020

Last week, HousingWire reported surging mortgage volume and record low interest rates are putting excess pressure on appraisal turn times. This week, appraisal experts said those same variables are having a profound effect on an age-old conflict of appraisal reports versus what the market believes the home is worth.

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Housing Wire

MARCH 5, 2021

What a two-year stretch it has been for appraisers. The appraisal workforce was already in decline in 2019. These factors combined to throw the appraisal industry in flux. It has a very uncertain future: will in-person appraisals be the norm, or will technology overtake the process completely or partially?

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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% White and 0.6%

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Appraisal Buzz

OCTOBER 28, 2024

Department of Housing & Urban Development (HUD) have released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration (FHA). The data previously included only appraisals of properties where the loan would be acquired by Fannie Mae or Freddie Mac (GSEs).

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Housing Wire

SEPTEMBER 17, 2022

The Federal Housing Administration on Thursday said it would pause the mandatory effective date for its electronic appraisal delivery module because it is “reassessing aspects of [its] development and implementation.”. FHA will provide further updates on its plans for electronic appraisal delivery as they become available.”.

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Appraisal Buzz

SEPTEMBER 28, 2021

Time management challenges are a big issue for many property appraisers. Your income depends on how many appraisal assignments you can complete each month and each year—and you need time to produce each report. Last month we asked appraisers, “What’s one thing you wish you could STOP doing to save time in your workday?”

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Housing Wire

DECEMBER 6, 2021

A San Rafael, California real estate appraiser is being sued for allegedly undervaluing a home by almost 50% because the homeowners are Black. Miller of Miller & Perotti Real Estate Appraisal and AMC Links LLC , an appraisal management company headquartered in Lehi, Utah.

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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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Appraisal Buzz

DECEMBER 9, 2024

To effectively support market condition adjustments in line with recent Fannie Mae guidelines, appraisers can use a variety of market analysis techniques. These methods provide a solid foundation for demonstrating how changing market conditions affect property values over time.

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Housing Wire

AUGUST 28, 2023

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. In 2023, nearly half of appraisers surveyed said fee pressure was their biggest challenge, up 20 percentage points since last year.

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Appraisal Buzz

MAY 24, 2021

When you calculate a house’s worth, you think about how numerous factors position the property in the current market. This process has appraisers review location, condition, and other variables so they can assess whether buyers will be interested. Three Common Methods Appraisers Can Use. That’s where possible hurdles can arise.

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Housing Wire

DECEMBER 14, 2021

Appraisers are not supposed to base their analysis on protected classes, and in the Uniform Residential Appraisal Report, appraisers attest that “race and the racial composition of the neighborhood are not appraisal factors.” Still, there were a number of troubling examples — although the report does not specify how many.

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Appraisal Buzz

JANUARY 24, 2022

Are you ready to meet the new GSE requirement of a detailed floor plan for your desktop appraisals? Join us for our upcoming webinar on January 25th at 2 pm, “ The Future of Desktop Appraisals ” with Joshua Walitt and Mark Walser! Learn about all of the new features in RemoteVal – a free inspection app for appraisers!

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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.

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Housing Wire

NOVEMBER 17, 2022

Jim Amorin, the CEO of the Appraisal Institute , on Thursday announced his resignation from the appraisal trade group. In a statement, the Appraisal Institute said Amorin’s five-year term will end effective Feb. The racial gap itself in appraised values increased by 75% during that period. as Hispanic.

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Housing Wire

JANUARY 14, 2022

The tides of the mortgage industry are changing as we head into 2022, and just like the sand under the waves, we can expect the appraisal landscape to shift along with it. Appraisers, like many other service providers, must adapt to market changes to accommodate their clients’ needs. Appraisal demand from generators (i.e.,

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Appraisal Hub

AUGUST 25, 2024

When someone wants to find out how much a property is worth through property appraisal, one of the factors that most influences price is its location. What is a Property Appraisal? A property appraisal is when experts, called appraisers, come to your property and figure out how much it’s worth.

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Housing Wire

FEBRUARY 24, 2023

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. Another common theme is reducing the amount of subjectivity within the appraisal forms and data standard.

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Housing Wire

AUGUST 31, 2023

However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. The original appraisal waiver solutions were launched in August 2017.

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Appraisal Buzz

JANUARY 24, 2022

LOUIS — January 24, 2022 — With Fannie Mae and Freddie Mac accepting desktop appraisals beginning in March, Incenter Appraisal Management and McKissock Learning are partnering to help appraisers update their remote inspection skills in response. About Incenter Appraisal Management. Click here to register.

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Cleveland Appraisal Blog

APRIL 11, 2023

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Isn’t that all that appraisers do? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value?

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Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!

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Housing Wire

FEBRUARY 27, 2024

Xactus provides solutions that include credit reporting, online verifications, fraud detection and property appraisal. Recently, Xactus’ valuation solution was approved to fulfill Fannie Mae’s property data collection orders.

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Appraisal Buzz

FEBRUARY 21, 2022

This includes sectors like home appraisals, which might not put a lot of focus on cybersecurity. What cybersecurity concerns should home appraisers be aware of? While the company took measures to correct the situation, the backlash of a security incident is something no appraisal firm wants to deal with. Growing Fraud Risks.

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Housing Wire

JULY 2, 2024

The CFPB is focused on the additional insights into the appraisal process along with homeowner openness to relocation, according to Jason Brown, CFPB’s assistant director for research. The new dataset also includes insights from three additional questions the survey first asked borrowers beginning in 2021.

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Housing Wire

JULY 5, 2022

Through the property valuation API, lenders and investors can track property valuation orders throughout the entire order management process because the API provides real-time status updates from order creation through completion. . “As

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Appraisal Buzz

JUNE 20, 2022

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern. There is a bright spot, however.

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Housing Wire

APRIL 21, 2021

The regulator is also advancing permanent changes to be made in the appraisal space. ” While some flexibilities are meeting their end, the FHFA said it will extend alternative appraisals on purchase and rate-term refinance loans out another month until May 31, 2021.

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Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

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Appraisal Buzz

DECEMBER 31, 2021

Appraisal industry insiders tend to agree that 2022 will generally be a good year for appraisers. As real property appraisers look ahead to the new year, we wanted to know where they plan to focus their efforts and what they will strive to achieve. ” Here’s what they said. ” Here’s what they said.

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Appraisal Buzz

AUGUST 4, 2022

Disciplinary complaints are a hot topic these days with appraisers. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, complaints against appraisers are becoming more and more common.

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Appraisal Buzz

OCTOBER 8, 2021

The Bureau of Labor Statistics projects that job growth for appraisers between 2019–2029 will be 3%, which is on pace for all occupations. Since the real estate market impacts the work of real property appraisers, demand for appraisers can fluctuate from year to year. So, is now a good time to become an appraiser?

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Appraisal Buzz

AUGUST 19, 2022

What are the essential tools and equipment to bring along when completing an on-site appraisal inspection ? Recently we asked our social media communities on Facebook and Twitter , “What’s ONE thing every property appraiser should always keep in their car?”

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Appraisal Buzz

JULY 1, 2024

Today’s release features data on three new survey questions first asked of mortgage borrowers in 2021 When asked about appraisal satisfaction, 70% of respondents reported being very satisfied with their property appraisal, 23% reported being somewhat satisfied, and 6% were not at all satisfied.

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