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HUD and FHFA Increase Transparency in Home Appraisals

Appraisal Buzz

The data previously included only appraisals of properties where the loan would be acquired by Fannie Mae or Freddie Mac (GSEs). Offering the public access to appraisal data for FHA-insured loans will bolster policymakers’ efforts to identify and address potential inaccuracy, bias, and discrimination in the broader mortgage market.”

Appraisal 409
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FHA unveils Automated Underwriting System as part of modernization initiative

Housing Wire

The Federal Housing Administration announced on Wednesday the launch of its first automated underwriting system that will allow lenders to submit loan application data electronically for single family forward mortgages from their loan origination systems to FHA for mortgage insurance eligibility.

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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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FHA to “reassess” Catalyst appraisal tech solution

Housing Wire

“FHA strongly recommends that industry partners pause EAD onboarding and direct integration activities until final determinations are made regarding the electronic appraisal delivery system for loans originated for FHA insurance endorsement,” FHA said in its industry notification. No new date has been announced.

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Maintain that Workfile

Appraisal Buzz

Real property appraisers have had quite a bit dumped on them in the past couple of years. 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.

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HECM program study assesses policy impacts of recent years

Housing Wire

Using detailed mathematical models to determine the impact of PLF reductions, the report found that “the first and second PLF reductions [in 2009 and 2010, respectively] were associated with reduced demand for HECM loans, lower likelihood of an unscheduled draw, and lower net losses to the program,” according to the study.

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How to Become a Property Appraiser

McKissock

Keep reading for insights on the appraisal profession, how to become a property appraiser, and, finally, how to maintain your license and grow your career. What’s it like to be an appraiser? Every piece of real property, from a two-bedroom condo to a 500-acre farm, has a value. Call 800.328.2008.