Housing Wire

OCTOBER 18, 2022

Real estate valuation technology company Clear Capital will cut 27% of its workforce across its offices in the U.S. Established in 2001, the Nevada-headquartered company delivers solutions to modernize the appraisal process, which may take days to weeks to complete, or even longer during booming markets.

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Housing Wire

SEPTEMBER 7, 2023

The Appraisal Institute has been criticized for a lack of diversity in its ranks and acknowledged a need to modernize. The appraisal industry is under scrutiny from various federal agencies and the government-sponsored enterprises over claims of racial bias. According to the group’s own statistics, 78% of U.S. as Hispanic.

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Housing Wire

JANUARY 25, 2023

Real estate valuation technology company Clear Capital has conducted a new round of layoffs as part of a company restructuring plan. We looked at this as not just an adjustment to the current market climate, but also looking at the current shift that’s happening in the valuation industry.

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Housing Wire

SEPTEMBER 13, 2024

The Appraisal Institute now faces a backlash from members who support Chance , a veteran nonprofit leader who joined roughly a year ago and pledged to make governance reforms and support the work of on-the-ground appraisers. “We want to reassure you that we take our mission as Directors of the Appraisal Institute seriously.

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Housing Wire

AUGUST 2, 2024

Singh explains that modern AI tools require increasingly larger amounts of data than ever before. CoreLogic relies on an internal governance structure to guide its use of AI solutions based on what happens in the larger regulatory market.

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Housing Wire

APRIL 21, 2021

The government agency also said it plans to retire all temporary selling flexibilities on May 31, 2021. Within the RFI, the FHFA sought insight on the appraisal policies, practices and processes of Fannie and Freddie, especially as it relates to the GSEs’ appraisal modernization efforts.

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Housing Wire

AUGUST 2, 2023

Government-sponsored enterprise Fannie Mae this week released new updates to its appraiser independence requirements (AIR), and also established new property data independence requirements (PDCIR) simultaneously. Fannie Mae approved six vendors for its controversial new valuation initiative a few days later.

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Housing Wire

MAY 23, 2022

The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together. A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans.

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Housing Wire

AUGUST 25, 2022

From modernizing appraisal technology to the government heightening their focus on appraisal bias, there’s no shortage of important and noteworthy topics to unpack in the appraisal space,” Brena Nath, director of HW+ and events, said. Appraisal Modernization: What’s the end game?” That is why HW Annual Oct. will be held on Oct.

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Housing Wire

MAY 25, 2021

Modernization will either take root and flourish throughout every branch of the mortgage industry, or our industry could miss a critical window to introduce meaningful reforms. In the traditional appraisal model, we ask appraisers to perform every single component of the valuation process. Delegating onsite data collection.

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Housing Wire

AUGUST 31, 2022

To continue to modernize the valuation process and achieve its goal of drastically increasing the number of floor plans in the U.S., Earlier this year, news of the 1004/70 Desktop Appraisal Guidelines came from government-sponsored entities Fannie Mae and Freddie Mac. to drive the industry toward a new paradigm.

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Housing Wire

NOVEMBER 17, 2022

The residential appraisal space has been rocked by increased federal scrutiny over the past two years, with several agencies studying whether appraisers let racial bias change their valuations. The Appraisal Institute has acknowledged that it needs to modernize. According to the group’s own statistics, 78% of U.S. as Hispanic.

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Housing Wire

JANUARY 31, 2021

Clear Capital’s suite of field valuations, real estate analytics, and platform technology solutions help servicers prevent fraud, check the accuracy of completed appraisals and broker price opinions (BPOs), conduct portfolio valuation analysis and updates, and help with disposition analysis on distressed loans.

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Housing Wire

JANUARY 10, 2023

GSE modern appraisal programs are finally expected to transition from test-and-learns to policy, the FHFA appears ready to accelerate work streams and data after their fintech RFI, and the ASC will begin conducting public hearings on appraisal governance and bias starting January 24.

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Appraisal Buzz

OCTOBER 10, 2022

I have weathered seasons marred by valuation professionals whose malfeasance adversely impacted the economy and society. The future of the valuation profession is not certain to me. Technological advances suggest we need to move toward automated valuation models that churn data through automated algorithms to produce valuations.

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Housing Wire

JUNE 14, 2022

According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models. Using its automated valuation models “leads to relatively lower racial gaps,” Freddie Mac said. Fannie Mae also included efforts to “modernize” appraisals in its equity plans.

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Appraiserblogs

MARCH 7, 2024

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. appeared on Appraisers Blogs.

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Housing Wire

MAY 2, 2022

It is an alternative appraisal method that is essentially a compromise between an automated valuation model (AVM), entirely done by software, and a traditional appraisal. The webinar was attended by nearly a thousand industry participants, including lenders, valuations experts and third-party fintech companies.

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Housing Wire

FEBRUARY 24, 2023

Concerns of racial bias , a lack of standardization for consumers in the reconsideration of value process and unclear authority in the governance structure are all present amidst increased requests from lenders for a more efficient process that provides value certainty sooner. Is “better” good enough as a starting point?

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Appraisal Buzz

APRIL 8, 2024

As industries grapple with the challenges of transparency, accuracy, and trustworthiness in valuation processes, blockchain emerges as a beacon of hope. Lack of Transparency: Traditional appraisal methods often lack a clear audit trail, making it difficult to trace back decisions or valuations.

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Housing Wire

JANUARY 12, 2024

There are hundreds of companies that help with various parts of the transaction and process “supply chain,” from search and valuation to closing, from appraisal to title, from targeting to closing. Of these, category 2 is the most established. But they all lead us into economic myopia and societal spirals.

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Appraisal Buzz

MAY 6, 2024

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. Areas more exposed to such risk are likely to see increased volatility in valuations.” The post Going to Extremes appeared first on Appraisal Buzz.

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Housing Wire

JUNE 28, 2021

Appraisers decry them as counterproductive, even exploitative middlemen, while lenders offer a pat on the back for keeping them one step ahead of government auditors. But they did not become key players in the home valuation industry until the recent housing bubble.”. They would then pay Rickard. Rickard never got paid.

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Housing Wire

OCTOBER 6, 2020

Purveyors of very complex financial instruments, sold to risk-averse investors under the careful oversight of government regulators, have given us a process that must conform to investor and regulatory compliance requirements. Many were pleasantly surprised that today’s modern web-based LOS platforms were designed to accommodate this.

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Appraisal Buzz

FEBRUARY 7, 2022

During 2020 and 2021 as the Covid-19 pandemic global pandemic disrupted our lives and the way we all do business, regulators, agencies, and the government sponsored enterprises allowed inspection relief in certain circumstances. Desktop Process Challenges & Risks. The announcement has been met with less enthusiasm by others.

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Housing Wire

JULY 12, 2022

Starting in July, the government-sponsored enterprise will allow remote inspections on some refinance loans it buys. Both desktop and hybrid appraisals, according to Fannie Mae, “have the benefit of reducing contact between borrowers and appraisers, thus lowering the likelihood of valuations being affected by personal or unconscious biases.”.

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Appraisal Inspection Real Estate Agent Training 435

Appraisal Buzz

JUNE 20, 2022

The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern. All the talk and attention given to appraisal modernization, appraisal waivers, desktop and hybrid appraisals contributes to anxiety.

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Miller Samuel

APRIL 27, 2019

The criticism seems like a weird attempt at fogging since this law is protective of USPAP and the public trust, something that has been forgotten in the attempt to "modernize" the appraisal industry. Even worse, they stole the economic livelihood of the actual market valuation experts and replaced them with form-fillers. No, it isn't.

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Housing Wire

OCTOBER 2, 2020

Its MSR portfolio contains 41% government and 59% conventional loans as of June 30. billion valuation in the fourth quarter. And on the same day that AmeriHome’s S-1 hit the wires, it was reported that Texas-based lender Caliber Home Loans could go public next week at a valuation north of $2 billion.

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Housing Wire

AUGUST 7, 2023

The result is higher costs, lower productivity, unmeasured quality, and systemic exposure as government monopolies take most of the risk and make most of the money. Homebuyers and other investors will gain better views of risk and return as hyper local “Forward” projections inform valuations and pricing for a range of assets.

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Clear Capital

JUNE 28, 2022

Reno, NV — June 28, 2022 — Clear Capital , a national real estate valuation technology company, today announced the launch of two Application Programming Interfaces (APIs), Property Valuation API and Risk Assessment API.

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Housing Wire

DECEMBER 5, 2024

Two bipartisan measures introduced this week would address concerns about how banks use AI in property valuations and underwriting , among other issues. Even in a divided Congress, there is bipartisan support for learning more about how artificial intelligence , and especially gen AI, is being leveraged in the housing and banking industries.

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Housing Wire

JUNE 8, 2022

The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap. The 2022 to 2024 plans will be updated annually, FHFA said in a statement, and will pay special attention to barriers to homeownership in Black and Latino communities.

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Appraisal Buzz

MARCH 24, 2025

But our training must govern here and force us to ask the question, Does this adjustment protocol reflect current market verities? This simplistic analysis means that for a sale that went under contract at $400,000 42-days ago, the increase factor would be $400,000 X 0.000329, or an increase of $131.51 times 42-days or $5,523.

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McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.” Stay tuned.

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Housing Wire

JUNE 7, 2022

For example, a loan processor may use a modern LOS to order a flood certification, title report, AUS decision or data verifications, but once the order has been placed, what if the data doesn’t arrive? Both lenders and servicers are under constant time pressure to complete their work.

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Appraiserblogs

MAY 26, 2022

A new press release from Class Valuation, one of the largest US based AMCs, scampered across my office threshold on 5/17/22. the modern appraisal industry perpetuates racial inequality through its continued use of the “sales comparison approach”. But the push this times seems to be “only for certain people. I added the. A synopsis is….

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