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Erik Morin reflects on his return to the reverse mortgage appraisal space

Housing Wire

Now, after more than a year back partnering with the industry, Morin sat down with HousingWire ’s Reverse Mortgage Daily (RMD) to discuss what the business is dealing with now, and how valuation in the reverse mortgage space is evolving with business realities and the ever-changing appraisal management company (AMC) landscape.

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VA hikes appraisal fees, turn-times in select markets

Housing Wire

In the high-demand markets of Florida’s Franklin, Indian River, Jefferson, Suwannee and Walton counties, appraisal fees will increase to $750 from the current cap of $500, and turnaround times will increase to 10 business days. The post VA hikes appraisal fees, turn-times in select markets appeared first on HousingWire.

Appraisal 482
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Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

The FHFA directed the GSEs to begin using both drive-by appraisals and desktop appraisals in certain circumstances to ensure that the mortgage process is not held up due to appraisal issues.

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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

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. Most appraisers have diversity in their business channels.

Appraisal 397
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How agents are winning bidding wars in America’s most competitive markets

Housing Wire

Susan Hamblen, broker and owner of Long Island-based EXIT Realty Achieve , said that her agents are slammed with business, and homes that are “priced right” are getting offers within the first 24 hours. For our seller-clients, we were counseling them on how the buyers waive appraisals or waive mortgage contingencies,” Cordano said.

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Guaranteed Rate rolls out program to approve loans within 24 hours

Housing Wire

The Same Day Mortgage program now covers a “much larger portfolio of loan types and offerings including purchase and refinance; 72% of the company’s conforming business qualifies for the program,” Guaranteed Rate said.

Appraisal 397
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BREAKING The New York State AMC Law Is Now In Effect

Miller Samuel

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.

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