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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. The document states that the plaintiffs undervalued a homeowner’s property based on her race in an appraisal made in 2021 in Denver. ” On Monday, the U.S.

Mortgages 511
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Reshaping appraisals: Jaro’s high-tech solutions innovate the appraisal process in an evolving real estate market

Housing Wire

As mortgage rates fluctuate based on decreasing housing inventory volume, the appraisal market is more volatile than ever in key areas such as urban and rural communities states like California and Texas. Jaro stands tall as the only end-to-end appraisal platform on the market. Low transaction volumes may soon be a thing of the past.

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ClearValue teams with Restb.ai to bring computer vision to appraisal process

Housing Wire

The companies hope Restb.ai’s technology can help ClearValue’s appraisal review clients improve efficiency and quality control while also reducing costs. By integrating Restb.ai’s technology into Certainty, we are taking a leap forward in appraisal modernization. The firm has partnered with Restb.ai In August 2023, Restb.ai

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Appraiser at center of Rocket Mortgage lawsuit has license revoked

Housing Wire

The Colorado Board of Real Estate Appraisers executed a Stipulation and Final Agency Order for public censure, fines, and revocation of the license for Maksym Mykhailyna, according to an announcement in early January. Mykhailyna was the appraiser at the center of legal action by the U.S.

Mortgages 417
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Home-price growth is cooling, leading to appraisal challenges

Housing Wire

Cleveland-based Corporate Settlement Solutions (CSS) released an analysis Thursday that highlights a growing gap between appraised home values and sale prices. Across the 19 East Coast and Midwest states in which CSS operates, appraisals were higher than sale prices in 57% of transactions during the second half of 2024.

Sales 396
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AppraisalVision launches AI-powered appraisal execution system

Housing Wire

AppraisalVision has restructured its platform into what it describes as the mortgage industrys first fully autonomous appraisal execution system. The shift eliminates the need for traditional software-based appraisal order management systems. Appraisal order management platforms were built for humans. The future is autonomous.

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The evolution and future of appraisal regulation 

Housing Wire

Title XI of FIRREA established a regulatory framework for appraisers to ensure credible and independent valuations in federally related transactions (FRTs). A crisis-driven regulatory legacy Despite FIRREAs implementation, the 2008 financial crisis underscored persistent issues within the appraisal industry.

Title 318