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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. The document states that the plaintiffs undervalued a homeowner’s property based on her race in an appraisal made in 2021 in Denver. ” On Monday, the U.S.

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A View on Risk: Desktop Appraisals

Appraisal Buzz

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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Progress now or perfect later: Improving the appraisal process

Housing Wire

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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Veros Launches iVALUATION, an Interactive Tool That Validates Property Valuations

Appraisal Buzz

iVALUATION is designed for the needs of mortgage originators, home equity lenders, appraisal reviewers, investors, and a wide array of other housing finance professionals and is particularly helpful for navigating the complexities of Reconsideration of Value (ROV) claims processes.

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What is New about Reconsiderations of Value (ROV)?

Walitt Solutions

Borrower-Initiated Reconsiderations of Value (ROV) Policies Fannie Mae, Freddie Mac, and HUD recently released Borrower-Initiated Reconsiderations of Value policy changes to their Guides and Handbook, which impact lenders, appraisers, AMCs, and… consumers! alternative sales), the data sources (e.g.,

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Why Appraisal Workfiles Are Important

Appraisal Today

Why an Organized Workfile is Your Best Defense By Craig Capilla Excerpts: We all know that the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for what must be included in a workfile. Still, all too many appraisers seek only to meet that minimum standard and little more. Newer appraisers are lucky.

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Are Appraisers Professionals?

Appraisal Today

Valuing Appraiser Professionalism: A Blueprint for Survival By Jo Traut, McKissock Learning Excerpts: Having spent nearly three decades in the field of real estate appraisal, I’ve witnessed firsthand the evolution of our profession, particularly with respect to technological advancements.