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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

” The spokesperson continued: “It is clear the government isn’t interested in their own rules, or facts, and are simply including us in this case to score headlines based on our strong brand and prominent position in the industry.

Appraisal 511
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Class Valuation acquires AMC AppraisalTek

Housing Wire

National appraisal management company Class Valuation is extending its reach, with the acquisition of yet another appraisal management company. Class Valuation said it would bring on AppraisalTek’s 75 full-time employees. The acquisition is Class Valuation’s fifth in recent years.

Valuation 418
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Implementation deadline for appraisal review policy pushed to Oct. 31

Housing Wire

Department of Housing and Urban Development (HUD), the FHA and the government-sponsored enterprises (GSEs) in collaboration with the Federal Housing Finance Agency (FHFA) — was designed to ”develop an aligned approach for both FHA-insured mortgages and those purchased or guaranteed by” the GSEs, HUD explained.

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Why VA mortgage loans go to the bottom of the stack

Housing Wire

If she is unable to wait the six months or more it could take to finish construction, she may forgo her hard-earned government benefit altogether. From a risk-profile perspective, in addition to the government guarantee that veteran borrowers command, VA borrowers have much lower default rates than FHA loans, another government-backed loan.

Mortgage 459
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Proposed VA appraisal law looks to even the playing field

Housing Wire

. “[The MBA urges the subcommittee to] consider directing the VA to not only modernize and streamline its current processes, but also align them with those of the FHA and the housing Government Sponsored Enterprises — Fannie Mae and Freddie Mac — to the greatest extent possible,” he said.

Law 418
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Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

Appraiserblogs

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.

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BREAKING The New York State AMC Law Is Now In Effect

Miller Samuel

They've been progressive in their quick denouncement of other important issues, like appraisal waivers, so the lack of denouncement against AMCs is curious. This new law only applies to appraisals ordered through AMCs (which control an estimated 80% of U.S. mortgage appraisal volume) for properties in New York State.

Law 367