Housing Wire

OCTOBER 23, 2020

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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Housing Wire

JANUARY 14, 2021

Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings.

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Housing Wire

AUGUST 25, 2022

Mortgage tech firm Blend launched a software solution for home equity products amid a mad dash from lenders into the space. Despite downturns in the mortgage origination market, Americans’ tappable home equity surged to a historic-high of $27.8 trillion in the first quarter, according to the Federal Reserve Bank of St.

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Appraisal Buzz

OCTOBER 28, 2024

Department of Housing & Urban Development (HUD) have released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration (FHA). The data previously included only appraisals of properties where the loan would be acquired by Fannie Mae or Freddie Mac (GSEs).

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Housing Wire

JULY 11, 2024

The efficiency and reliability of property appraisals are the linchpin to the success of a steady flow of mortgage transactions. Opteon, a leader in the appraisal and property valuation industry, utilizes their tech-enabled service fulfillment to streamline and enhance the appraisal process.

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Appraisal Buzz

JULY 2, 2024

The Federal Housing Finance Agency (FHFA) has published updated aggregate statistics from the National Mortgage Database (NMDB) and launched the NMDB Aggregate Statistics Dashboard —new data visualization tool for the NMDB Outstanding Residential Mortgage Statistics. million outstanding mortgages with unpaid balances totaling $11.7

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Housing Wire

SEPTEMBER 21, 2021

The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. The FHA Catalyst: Electronic Appraisal Delivery module will allow for the administration to expand their data collection and analysis capabilities.

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Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. ZL: Consolidated Analytics recently rolled out a ‘Quality Control Checklist.’

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Housing Wire

DECEMBER 28, 2020

“The comments we receive will inform how we will modernize appraisals to improve both loan quality and the origination process.”. At the onset of the pandemic in March, the FHFA began easing standards on property appraisals that allowed drive-by and desktop valuations in certain circumstances.

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Housing Wire

APRIL 21, 2021

During the Mortgage Bankers Association’s spring conference on Tuesday, FHFA Director Mark Calabria hinted that the power of attorney, verification requirements and condo project reviews would be wrapping, however, more likely “this summer.”

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Housing Wire

MARCH 11, 2021

According to the FHFA, the extended flexibilities include: Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings. In a statement issued on Feb.

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Housing Wire

MAY 23, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. It was conducted by analytics firm SP Group LLC and its subcontractor Econometrica Inc.

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Housing Wire

APRIL 6, 2023

A report commissioned by the Appraisal Subcommittee in 2021 and led by the National Fair Housing Alliance found that the industry has been allowed to regulate itself, a rarity in the heavily regulated housing and mortgage industries. housing market in the future.

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Housing Wire

AUGUST 28, 2023

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. In 2023, nearly half of appraisers surveyed said fee pressure was their biggest challenge, up 20 percentage points since last year.

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Housing Wire

AUGUST 11, 2020

Last week, HousingWire reported surging mortgage volume and record low interest rates are putting excess pressure on appraisal turn times. This week, appraisal experts said those same variables are having a profound effect on an age-old conflict of appraisal reports versus what the market believes the home is worth.

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Housing Wire

DECEMBER 6, 2021

They refinanced their mortgage in 2018 and 2019, and sought to do so again in 2020. It was in this third iteration of mortgage refinancing where the alleged appraisal bias occurred. Miller who, according to her LinkedIn , has operated Miller & Perotti appraisal services since 1992, valued the home at $992,000.

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Housing Wire

JUNE 4, 2021

With intense demand for homes on the higher end of the pricing spectrum, new updates to the QM rule that went into effect on March 1 and growing investor interest in jumbo mortgages – this is the perfect time for the broker community to support their clients with speed and ease. Presented by: Rocket Pro TPO. year over year, to $465,000.

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Appraiserblogs

MARCH 27, 2023

Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending purposes is nothing more than wanton recklessness that could have serious repercussions in the future.

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Appraisal Hub

OCTOBER 12, 2021

A property appraisal is also known as real estate appraisal and it can help you learn your property’s real market value in Toronto. The company will assign an appropriate property appraiser to take care of the commercial or residential appraisals depending on your requirements. For commercial loans.

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Housing Wire

MARCH 5, 2021

The appraisal workforce was already in decline in 2019. To compound matters, homebuyer demand skyrocketed thanks to historically-low mortgage rates and societal changes. These factors combined to throw the appraisal industry in flux. When the COVID-19 pandemic hit in 2020, the industry’s workforce shrank even further.

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Appraisal Today

SEPTEMBER 27, 2024

What does it mean for appraisers? Understanding the depth, quality of the water, and type of shoreline is crucial, as these elements directly influence the property’s usability, aesthetics, and long-term stability. The value can vary significantly depending on whether the property is adjacent to a lake, river, ocean, or pond.

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Housing Wire

MAY 16, 2024

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S.

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Housing Wire

APRIL 8, 2021

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process. In high-demand areas, escalation clauses should be considered. In an extremely competive market?

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Housing Wire

JANUARY 14, 2022

The tides of the mortgage industry are changing as we head into 2022, and just like the sand under the waves, we can expect the appraisal landscape to shift along with it. Appraisers, like many other service providers, must adapt to market changes to accommodate their clients’ needs. Appraisal demand from generators (i.e.,

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Appraisal Buzz

APRIL 15, 2024

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. It all starts with the standard appraisal forms used in the mortgage process.

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Housing Wire

JANUARY 10, 2023

However, all of the concerns from last year threaten to carry over — from the fear of recession to stubborn high home prices and the stickiness of sub 3% mortgage rates that keep future buyers firmly planted in their existing homes. And yet the MBA Mortgage Finance Forecast for 2023 has some bright spots in it. Property Appraisal.

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Appraisal Buzz

JULY 2, 2024

The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have published updated loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). Since 2014, FHFA and CFPB have sent quarterly surveys to borrowers who recently obtained mortgages.

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Appraisal Buzz

AUGUST 1, 2022

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. Standard 2 is the specific standard that addresses the reporting of appraisals.

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Cleveland Appraisal Blog

APRIL 11, 2023

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Isn’t that all that appraisers do? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value?

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Housing Wire

JANUARY 14, 2022

Cignarale noted signs of cooling off, including some properties appraising for lower than expected and once desperate buyers no longer waiving home inspections. We are still seeing 15 to 20 offers on properties and that has been during the holiday time,” Tiffany Hilbert, a Rochester Keller Williams agent, said. “I

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Housing Wire

APRIL 14, 2023

Currently, 75% of real estate agents and 97% of property appraisers in the U.S. Concepts like getting a mortgage, taking out a line of credit, buying and selling a property and becoming a landlord are rarely part of classroom discussions or dinner-table conversations, unless your family happens to be in real estate.

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Cleveland Appraisal Blog

MAY 9, 2024

GETTING TRENDY (Cuyahoga County Housing Trends) The housing market in Northeast Ohio has remained strong despite the relatively higher mortgage interest rates and affordability issues. You can also listen right here at Cleveland Appraisal Blog! If you’re a real property appraiser in Ohio, check us out!

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East Coast Appraisal

FEBRUARY 23, 2022

A commercial property appraisal has numerous benefits to all players in the real estate industry. Property owners, sellers, renters, buyers, and even mortgage companies can all benefit from commercial property appraisals. Below are some reasons to commission commercial property appraisals.

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Housing Wire

AUGUST 31, 2023

Fast forward to 2022 and Freddie Mac announced the availability of ACE+ PDR for cash-out refinance and certain “no cash-out” refinance mortgages. But volume dried up as mortgage rates continued to increase, crossing the 5% threshold in April 2022 (sounds nice now, doesn’t it?).

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Appraiserblogs

APRIL 9, 2023

We the people need to redirect the mortgage lending direction… The time for every appraiser and consumer to step up is now. Appraisers have been the target for blame for everything gone wrong in the mortgage lending world. Fannie Mae’s decision to waive/eliminate property appraisal for lending… No Appraisals Required.

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Realvals

FEBRUARY 10, 2025

Appraisals are typically private evaluations of a property’s market value done by a licensed real estate appraiser. They are often required by lenders when someone applies for a mortgage. Home appraisals are not part of public records. County assessors conduct these assessments to determine property taxes.

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Appraiserblogs

MARCH 29, 2023

With falling values across many markets combined with rising mortgage rates putting even more pressure on borrowers’ wallets, this decision could potentially put. Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Related Posts: Dear Representative, FNMA Has Gone Rogue!

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