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HUD rescinds appraisal review policies

Housing Wire

Policies related to appraisal appeals, or reconsiderations of value (ROV), were rescinded Wednesday by the Federal Housing Administration (FHA). Garber added that the most pressing concern for appraisers remains the resolution of fair housing claims by the U.S. Department of Housing and Urban Development (HUD).

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Building a quality-centric culture is essential to ensuring appraisal integrity

Housing Wire

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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ICE unveils two new property valuation solutions

Housing Wire

Intercontinental Exchange (ICE) Mortgage Technology introduced two new tools, Validate ROV and Validate Selector, to its growing suite of property valuation solutions, the company announced on Monday. Consumers will supplement their requests with pictures of the property.

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Overcoming 2023’s biggest appraisal challenges

Housing Wire

From an appraiser shortage to turn-time challenges amid record-breaking volumes, the past few years have been a whirlwind for the appraisal industry. HousingWire recently sat down with Jaro Managing Director Gareth Borcherds to learn what steps housing professionals can take to speed up appraisals.

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White House marks one year of PAVE appraisal bias action plan

Housing Wire

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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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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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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