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The opportunity cost of modern-day redlining

Housing Wire

Modern-day redlining persists, and it’s costing lenders millions in legal fees. By shifting to a modern mindset and making diversity central to all lending initiatives, lenders can build strategies that are inherently anti-redlining. Last October, Ameris Bank had to pay $9 million to settle a redlining case.

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What is Appraisal Modernization? Pt 13

George Dell

The word “modernization” has a meaning different from what I thought. The dictionary definitions and explanations focus on the social and even political aspects of […] The post What is Appraisal Modernization? It seems to depend on who is using the word. To me, it just meant “get with it!”

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Why ADUs can be used for aging in place — and how reverse mortgages might help

Housing Wire

In one recent instance highlighted by the Los Angeles Times , one family turned to an ADU after finding limited options and is poised to see a loved one live in a modern, age-appropriate setting. The FHA included the addition of ADUs to the definitions of eligible properties in the Single Family 4000.1

Tenants 475
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HUD Updates Manufactured Home Regulations

Appraisal Buzz

This update of the HUD Code is long overdue and will help increase production while also ensuring modern designs to suit the needs of families.” “Manufactured homes are an affordable housing option for Americans across the country,” said HUD Acting Secretary Adrianne Todman.

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CFPB ponders how well HMDA captures discrimination

Housing Wire

Since HMDA was introduced, regulators’ definition of redlining has evolved. In a virtual seminar Thursday on “modern-day redlining,” attorneys from Garris Horn, LLP , said the CFPB’s current definition of the practice is better termed “marketing discrimination.”.

Lending 386
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Flueid CEO Peter Bowman on rethinking the real estate transaction process

Housing Wire

“To move forward, the industry needs to focus on driving greater transparency across workflows by unifying these innovations — bringing the data, insights and the best of each process together — to unlock their full potential and deliver a modern digital transaction.”.

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Black Knight offers new servicer solutions to curb foreclosure, late-stage default

Housing Wire

ICE announced in May 2022 that it had entered into a definitive agreement to acquire the firm. ICE claims the merger will modernize the mortgage servicing platform and will be beneficial for U.S. Servicing Digital, offered as an app or web design, enables customers to access their loan- and home-related information.