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There are big changes coming to appraisals, and they’ll have a huge impact on how the mortgage industry does business. When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. How many years of experience must the appraisers/propertyinspectors have? What does that mean?
There are big changes coming to appraisals, and they’ll have a huge impact on how the mortgage industry does business. When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. How many years of experience must the appraisers/propertyinspectors have? What does that mean?
All Advisory Opinions, Frequently Asked Questions and the recently launched Reference Manual will now be part of a standalone publication called the 2024 USPAP Guidance and Reference Manual. You can also purchase a linked digital version of the eUSPAP and Guidance and Reference Manual and get seamless access across both documents.
During my presentation, I reviewed with the audience a number of appraisal scenarios that have been common practice for decades – often in spaces outside of first mortgage lending. For 203K appraisals, an individual performs an inspection of the subject property for HUD or the lender as a separate order from the valuation assignment.
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