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On the earnings call, Sieffert discussed a new “digital innovation” team that is being built at FOA with the purpose of delivering “financial services to seniors in a way that is modern and user-friendly.”
Top five reverse mortgage lender Finance of America (FOA) announced on Tuesday the hiring of two new executive leaders to modernize the companys digital and customer experience strategies. ” Sieffert previously indicated that a renewed effort around digital processes at the company would be a priority for 2025.
The AUS is built upon FHA’s Catalyst technology platform – a modernization initiative the company says will build trust through “reliable and accurate data, facilitating modern systems for the FHA program participant community.” It is modernization of the entire process.
Department of Housing and Urban Development (HUD) single-family policies can be reviewed prior to going into full effect — the new “ Modernization of Engagement with Borrowers in Default ” document can be reviewed by stakeholders. Published on FHA’s Single Family Drafting Table — an online portal where proposed U.S.
Dovenmuehle Mortgage , a top mortgage subservicing company, has appointed Robert Howerton as chief information officer to oversee the company’s IT infrastructure, the company announced on Tuesday. His responsibilities will include maintaining and expanding Dovenmuehle’s current information technology (IT) infrastructure.
The new search paradigm for real estate The introduction of artificial intelligence overviews is changing how users consume information online. Traditional top-of-funnel searches like “how-to” topics and basic informational queries now stem from AI-generated overviews on search result pages.
In recent developments, the Financial Crimes Enforcement Network (FinCEN) has reinstated the Beneficial Ownership Information Reporting (BOIR) requirements under the Corporate Transparency Act (CTA). What Is the Beneficial Ownership Information Reporting (BOIR)? LLCs, corporations, partnerships,etc.,
The Mortgage Bankers Association (MBA) on Thursday released a new white paper , which argues that Section 8 of the Real Estate Settlement Procedures Act (RESPA) is in need of reform and modernization to better reflect “today’s highly-regulated mortgage market.” It was originally overseen by the U.S.
Real estate valuation technology company Clear Capital rolled out two application programming interfaces (APIs) that aim to make adopting and deploying modern valuation solutions easier, ultimately closing loans faster. The post Clear Capital launches APIs to make adopting modern valuations solutions easier appeared first on HousingWire.
Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Why are appraisers essentially being excluded from the conversation about modernizing the profession? Collaborative valuation is a natural step in modern appraisal firms. Can it be abused?
Appraisal modernization is generating a lot of buzz in the real estate lending industry. Most would agree (me included) that the appraisal process is long overdue for modernization — a 2022 Fannie Mae survey showed 94% of lenders are in favor of appraisal modernization. However, is appraisal modernization on its own enough?
Editor in Chief Sarah Wheeler sat down with Kenon Chen, executive vice president of strategy and growth at Clear Capital , to talk about appraisal modernization and how technology is just part of the solution. SW: Is the end goal of appraisal modernization to replace appraisers?
However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. How do the solutions work? Why do we need them? But you already know this.
When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.
Here it is: another article about appraisal modernization. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents. Based on these classifications, additional information would be input.
In the modern mortgage industry, lenders are not just setting themselves apart on who has the best Super Bowl ad or the biggest branch footprint, but increasingly also on their approach to technology. However, transitioning to a more modern, modular strategy has proven to be difficult and complex.
By integrating Restb.ai’s technology into Certainty, we are taking a leap forward in appraisal modernization. For more information on ClearValue Consulting’s Certainty QC Review platform and Restb.ai’s computer vision technology integration, visit clearvalueconsulting.com. For more information visit clearvalueconsulting.com.
In the proposal’s supplementary information section, HUD explains that the rule as currently enforced is simply outdated, and does not account for modern methods of communication that would comply with the protection of the involved parties’ personal information.
The variety of modern digital solutions offered by the homegenius family of companies helps add a level of quality and efficiency to nearly every point in the home buying and selling process, all the way from search to close and beyond. For more information on homegenius and innovation you can trust from search to close, visit homegenius.com.
With first hand knowledge of how complex and time consuming appraisals can be, Reggora is motivated to streamline and modernize the process, benefiting appraisers, lenders and buyers themselves. As appraisal modernization continues to take shape, Reggora is uniquely positioned to lead its customers through the ever changing landscape.
PACE loans are typically marketed via door-to-door sales by independent brokers who work with contractors who perform the modernization and enhancement work. Homeowners deserve to know just how much they are paying when they put their home and financial future on the line.
The new HUD.gov embodies these qualities and continues to build on our pledge to be mission-minded and fulfill our statutory responsibilities while efficiently and effectively providing vital information to the American public. HUD has been on a yearslong road to modernize its technology systems.
By assessing potential limitations upfront, I can inform my clients of any obstacles that may affect the operation, such as restricted zones, weather conditions, or Temporary Flight Restrictions (TFRs) that may arise. While this may sound excessive, modern apps make it easy to verify airspace conditions quickly.
She cited the recent appointment of two new employees to the executive team Brian Conneen as chief information officer and Karime Benaissa as chief customer officer saying their leadership will be pivotal in enhancing the customer journey and enabling us [to] more meaningfully tap into the $14 trillion senior home equity market.
One of the easiest and most cost-effective ways to stay top-of-mind with clients and prospects is by consistently delivering value in an informative, helpful real estate newsletter. Content: Agents can include any combination of data and information. Provide value Offer engaging content that both informs and entertains.
Jonathan Scarpati Jonathan has been at the core of driving reverse mortgage adoption and awareness in the industry for over 20 years, and were excited to extend his leadership abilities to accelerate performance as we modernize our brand and expand our reach, FOA President Kristen Sieffert said.
Fortunately, there is a way around this for the well-informed. Servicing software improves efficiency and customer satisfaction Modern mortgage servicing software gives lenders an edge thats so efficient, it almost seems unfair. Borrowers also benefit from convenient online access to statements and real-time account information.
Modernizing consultations with GoFormz can eliminate these issues. Digital forms reduce paperwork, minimize errors, and ensure all necessary information is captured accurately and securely. GoFormz allows businesses to create and manage HIPAA forms digitally, ensuring that sensitive client information is handled securely.
The launch of this new portal may be a signal that the FHA — after what seems to have been a slight pause — is going full steam ahead in their modernization initiative, which was announced by HUD two years ago. The FHA, Office of Public and Indian Housing (PIH) and mainframe modernization were placed as top priorities.
The drive toward modernization has led to technological advancements and more data-driven valuations, which leaves many appraisers at a crossroads: while these changes can lead to greater efficiency and fairer home valuations, adopting new tech can be scary. The residential appraisal profession is at a transformational moment.
They need to be detailed, informative, capture the essence of the property and grab a readers attention all at once and with limited words not easy! Seamlessly blending historic elegance with modern luxury, this 5 bedroom 3.5 bath home boasts over 4k sq feet on 3 finished levels.
New ACI Sky Workbench Platform is Designed to Modernize Appraisal Processes SANTA ANA, Calif. Designed by appraisers for appraisers, Workbench modernizes appraisal workflows, enabling valuation professionals to take on additional assignments and complete them faster and with greater accuracy, while reducing the need for revisions.
Department of Housing and Urban Development ’s (HUD) reliance on its legacy appraisal processing system, the Loan Application Management System,” FHA said in an informational notice. Catalyst has been seen as a positive development in the ongoing effort to modernize the technology infrastructure of the federal housing agencies.
Ohio REALTORS, one of the largest and most influential real estate associations in the Midwest, has announced its partnership with HousingWire , the leading source for housing market news and information. ” HousingWire has established itself as the trusted source of information for housing professionals across the industry.
Appraisal modernization is a hot topic right now, but updating the appraisal process is easier said than done. Freddie Mac’s appraisal modernization strategy With these challenges in mind, Freddie Mac continues to work on modernizing the appraisal process for lenders that deliver loans to Freddie Mac.
The report, titled “The Modern Credit Challenge: Mortgage & Real Estate Professional & Consumer Research,” highlights credit health needs from IDIQ partners and consumer insights. The report also introduces a solution with IDIQ’s newly launched credit-building tool, CreditBuilderIQ®, based on the feedback provided.
The Consumer Financial Protection Bureau chimed in on an appeal to the McCoy vs. Wells Fargo Bank case, arguing that a borrower should be able to get information about their loan from their loan servicer. The requests ranged from a payoff statement to contact information of the loan’s assignee, court papers show. 31, 2021, in the U.S.
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.
The traditional ‘sell’ or ‘refinance’ mandates almost never align with the modern realities of today’s real estate market, or the family’s best interests.” On the platform, homeowners fill in information about their home, such as the estimated value and sale price, remaining mortgage debt, and their post-divorce goals.
Appraisal modernization is vital. Gareth Borcherds , managing director Ascent Software Group outlines the three categories to be aware of, how appraisal modernization can help scale new initiatives and more in this executive conversation. Many reasons given for appraisal modernization stem from appraisal turnaround times.
The Federal Housing Finance Agency (FHFA) announced Monday it is requesting input on the appraisal policies, practices and processes of Fannie Mae and Freddie Mac, especially as it relates to the GSEs’ appraisal modernization efforts. The Request for Input (RFI) – open to comment until Feb.
TTV Capital , Moderne Ventures , Erez Capital and other venture capital firms led the round of investment. It pulls information from more than 30 data providers and also features an AI-powered assistant, Aiden, which can answer questions about a property.
Tony Pistilli, general manager of valuations for Restb.ai, expressed his enthusiasm about the collaboration: “Working with Bradford, we are providing the newest and most advanced AI technology to accelerate the modernization of the appraisal process.” This is a service every appraiser needs to improve their inspection efficiency.”
In a recent survey by the National Association of Realtors , floor plans ranked as the third most desired listing feature for homebuyers, after photos and detailed listing information. But floor plans are a relative rarity on multiple listings services: only 10-15% home listings in the U.S. have floor plans. said Allen.
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