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Lenders see appraisal modernization as a top priority

Housing Wire

The desire to invest in appraisal modernization came in third place, with 29% of lending institutions reporting that this was a top-of-mind investment. Lenders also mentioned concerns and roadblocks with adopting new appraisal modernization tools. The policy now expires on December 31, 2022.

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Understanding The Reverse Mortgage Appraisal Process

AmeriMac

What is a Reverse Mortgage Appraisal? A reverse mortgage appraisal is an evaluation of a property’s value to determine how much money can be borrowed through a reverse mortgage. The appraisal is important because it helps lenders assess the risk associated with the reverse mortgage loan.

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All You Need to Know About Reverse Mortgage Appraisals

AmeriMac

Reverse mortgages are becoming an increasingly popular financial tool for homeowners over the age of 62 who want to access equity in their homes. One important aspect of the reverse mortgage process is the appraisal, which determines the value of the property and plays a crucial role in determining the size of the loan.

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The New UAD: “Don’t Borrow Trouble.”

Appraisal Buzz

That’s how I first got involved in valuation technology. He taught me more than just appraisal; he taught me about life, often through a multitude of enigmatic phrases like “better than a poke in the eye with a sharp stick” or “don’t borrow trouble.” We know we are part of the valuation future as envisioned by the GSEs.

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The Appraiser-Agent Relationship: A Win-Win Approach

Birmingham Appraisal

Understanding the Roles: Agents and Appraisers: Real estate agents bring their expertise in marketing and negotiations, while appraisers provide impartial and accurate property valuations. Navigating Complex Properties: In cases of unique or complex properties, agents and appraisers collaborate to ensure accurate valuations.

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The Appraisal World is changing, as is UAD and the URAR

McKissock

There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers. The mortgage appraisal forms we use today were designed in 2005 using technology and mortgage processes in place at the time.

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AVM Accuracy?

Appraisal Today

The technology has been drifting into mortgage lending reliance for more than a decade because it has been marketed as having the ease of “pushing a button.” The driver behind this final rule was to eliminate potential bias in valuations by replacing appraisers with AVMS. To read more, Click Here My comments: Worth reading.