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A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together.
The most recent statistics show Value Acceptance accounts for up to 40% of all mortgage approvals. It is presented as part of the GSEs “AppraisalModernization” initiative, which aims to streamline the mortgageappraisal process. Despite its roots in a methodology designed to support appraisers, Value.
The Vanguard Forum convenes at one of the most consequential moments in the history of the modernhousingmarket,” said Clayton Collins, CEO of HW Media. “As This forum brings together the most impactful leaders in housing, all committed to moving the housingmarket forward,” said Collins.
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.
Desktop appraisals arrived in March of 2020, allowing the housingmarket to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic.
Fannie Mae and Freddie Mac are not designing the software for the future, but they have provided the specification for the Uniform Appraisal Data set (UAD) they want to receive. It is up to appraisal software companies to develop solutions to provide this specific data set.
Urban, Suburban, Rural in AppraisalsAppraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! Let the Sunshine In: 5 Gorgeous Glass Houses That Make Full Use of Daylight Saving Time Just For Fun! By Dallas T.
Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! One example is that mortgageappraisal work allows an appraiser to say: “I’m appraising it as repaired,” which is acceptable in some mortgage assignments.
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