article thumbnail

GSEs Seek Input on Duty to Serve Plans

Appraisal Buzz

Additional initiatives that Freddie Mac noted included the financing of more than 46,000 manufactured homes titled as real property from 2018-2023, providing more than $6.7 The rural housing market includes an estimated 82 million people nationwide, or 25% of the U.S. population.

Finance 390
article thumbnail

The Value of Words in Valuation

Appraisal Buzz

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. Below is the definition from Webster’s online dictionary of the plain meaning rule: Plain meaning rule.

Valuation 360
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What it’s like originating reverse mortgages in Montana

Housing Wire

Montana automatically declares these as real property once they are permanently affixed, but the government requires the de-titling paperwork. I definitely agree it’s a product that should have a lot more upside,” DeWolf said. “I A burgeoning challenge relates to manufactured housing.

Mortgage 435
article thumbnail

The title industry’s latest cat-and-mouse game: seller impersonation fraud

Housing Wire

This recent trend involving seller impersonation is particularly concerning, as the real property owner is typically not aware nor in a position to prevent the fraud, until it is too late,” said Thomas W. That definitely tipped us off because very few people really live like that.” Cronkright II, Executive Chairman of CertifID.

Sellers 397
article thumbnail

What Is a Reconciled Value?

Cleveland Appraisal Blog

One definition of the word reconcile in Dictionary.com is “to bring into agreement or harmony; make compatible or consistent.” What does the appraiser do with the three different values that may be developed? The appraiser must now reconcile these three values into one final opinion of value.

Appraisal 337
article thumbnail

Checklist: What to Include in a Narrative Appraisal Report

McKissock

for mortgage financing purposes or tax assessment appeal purposes) Identification/brief description of the property appraised Real property interest appraised (e.g., fee simple, leased fee, etc.) population, news articles, economic data, internet searches, etc.)

article thumbnail

Fannie and Freddie Release New Hybrid and Desktop Forms for Testing

McKissock

The GSEs have also aligned on guidance regarding the use of these test forms, including formal definitions for “Hybrid” and “Desktop” assignments. These two terms are often used interchangeably by appraisers and clients, but under the GSEs’ new definitions, they are different types of assignments. Written by Dan Bradley.