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Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. However, they have several more pressing priorities when it comes to what they’re investing in.

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Lenders mandated to use FHA Catalyst for appraisals

Housing Wire

Meanwhile, lenders can electronically submit, track and manage single-family property appraisals, the FHA said. The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process. How increased regulation presents a huge opportunity for lenders.

Appraisal 476
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Class Valuation acquires AMC AppraisalTek

Housing Wire

The fragmented and decentralized appraisal management company sector is ripe for consolidation, amid increased regulatory pressures on appraisers and potentially disruptive technological changes. billion real estate appraisal services market has cumulatively grown by 32% since 2008.”.

Valuation 415
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

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.

Appraisal 397
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The New UAD: “Don’t Borrow Trouble.”

Appraisal Buzz

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. at the very beginning.

Appraisal 363
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Like it or not, desktop appraisals are here to stay

Housing Wire

In January, Fannie Mae said it would start accepting desktop appraisals, where an appraiser need not perform a walk-through, for some agency-backed loans after March 19. Any loan application flagged as ineligible by Fannie Mae’s automated underwriting system will have to use a traditional appraisal.

Appraisal 370
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UWM appraisal shakeup makes small splash

Housing Wire

Brian Zitin, CEO of Reggora , an appraisal tech company, said that he’s observed a movement where lenders want to be more involved in the appraisal process. Lenders] want to be able to react with the market and have more control over our appraisal performance,” said Zitin.

Appraisal 448