FHFA extends relaxed appraisal, lending standards

Housing Wire

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The post FHFA extends relaxed appraisal, lending standards appeared first on HousingWire.

Will hybrid appraisals become the new normal?

Housing Wire

The Federal Housing Finance Agency (FHFA) announced Monday it is requesting input on the appraisal policies, practices and processes of Fannie Mae and Freddie Mac, especially as it relates to the GSEs’ appraisal modernization efforts.

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Appraisal coalition pledges to combat bias and discrimination

Housing Wire

The Appraisal Institute , American Society of Appraisers , American Society of Farm Managers and Rural Appraisers , and the Massachusetts Board of Real Estate Appraisers announced a concerted effort to combat unconscious bias and discrimination in a release on Friday.

Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec.

UWM will partially refund borrowers for late appraisals

Housing Wire

United Wholesale Mortgage ( UWM ) unveiled a new policy this week, telling brokers that appraisals will be completed within 10 business days or they’ll refund 50% of the appraisal cost back to the customer.

Reggora gets Series B funding, eyes 2-day appraisals

Housing Wire

Appraisal software company Reggora today announced the completion of a $30 million Series B funding round, led by returning investor Spark Capital. “The appraisal industry is ready for innovation, and we are excited to be at the forefront of those efforts,” Zitin said.

Bifurcated Appraisal: An Enhanced Desktop Appraisal

McKissock

There are many articles, blogs, and opinion papers that either support or reject bifurcated and hybrid appraisals, which contributes to a great deal of confusion. Here at McKissock Learning, we do not support any position regarding bifurcated and hybrid appraisals.

In a hot housing market, gap between purchase price and appraiser condition ratings causes headaches

Housing Wire

Last week, HousingWire reported surging mortgage volume and record low interest rates are putting excess pressure on appraisal turn times. To consider an ROV, appraisers are most often willing to review and consider comps that are more recent, more proximate and more similar,” Johnson said.

Appraisal Institute names Rodman Schley president

Housing Wire

Rodman Schley was selected to become the next president of the Appraisal Institute (AI) beginning Jan. 1, succeeding appraiser Jefferson Sherman, according to the trade organization. The post Appraisal Institute names Rodman Schley president appeared first on HousingWire.

How Does the VA Appraisal Panel Operate?

McKissock

The VA uses state-licensed or state-certified appraisers to provide opinions of value for the homes on which it guarantees the mortgages. In order to complete a VA appraisal , you must be on the VA panel. Here’s an overview of how the VA appraisal panel operates. Appraisal fees.

4 Potential Benefits of Hybrid and Bifurcated Appraisals

McKissock

A major selling point for completing hybrid or bifurcated appraisals is that the appraiser will save a good deal of time by not inspecting the property, not taking photos of comparable sales, and not sitting in traffic. Benefits of hybrid and bifurcated appraisals.

What Appraisers Look for During a Real Estate Appraisal

RISMedia

The home appraisal process can be a stressful time, whether you're buying or selling a property. It's the job of the appraiser to find the fair market value of the home. But if you know what appraisers look for, you […].

Federal regulators finalize appraisal and capital liquidity rules

Housing Wire

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said.

How to Become a Luxury Real Estate Appraiser

McKissock

Are you interested in learning how to become a luxury real estate appraiser ? There are many reasons to consider specializing in this profitable appraisal niche. Here are helpful tips on how to become a luxury real estate appraiser.

Top 5 Appraisal Membership Resources of 2020

McKissock

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide array of online appraisal classes, webinars, videos, checklists, job aids, and other resources. To access to these top appraisal resources and much more, become an Unlimited Learning Member.

20 Motivational Quotes for Appraisers and Small Business Owners

McKissock

To achieve your goals as an appraiser or small business owner, you’re going to need to stay motivated. What appraisal skills do you want to focus on improving? Free Download: Your Guide to an Appraisal License Upgrade. Looking to advance your appraisal career?

What New Appraisal Specialty Do You Wish to Break Into?

McKissock

Developing an appraisal specialty is a great way to grow your business and stay competitive in the industry. Last month we asked our appraisal community, “What new appraisal specialty or niche would you like to break into?” Review appraisal (23%). Luxury appraisal (9%).

Q&A: Is It Time to Take On an Appraisal Trainee?

McKissock

Appraisers are often reluctant to take on an appraisal trainee. They tend to assume that the trainee, once she earns the Certified Appraiser designation , will set up shop as a competitor. On the other hand, the appraisal industry needs fresh blood.

Top Appraisal Skills to Sharpen in 2021

McKissock

What New Year’s goals do you have for your appraisal business? Last month we asked our community of real estate appraisers, “What appraisal skill would you most like to improve in 2021?” What appraisal skill would you most like to improve in 2021?

Home Appraisal: What to Know About House Appraisals

Maximum Exposure Real Estate

Understanding Home Appraisals Are you interested in understanding what to expect from your home appraisal? Real estate appraisals are an integral part of purchasing and selling a property, particularly if the buyer is seeking funding from a lender.

12 Types of Expert Witness Assignments for Appraisers

McKissock

There are many types of litigation where real estate appraisers can be helpful in providing evidence to the court. Many of these will require engaging the appraiser to perform an appraisal specifically for the case. Appraiser negligence.

Second Annual Appraisal Income Guide Released, Reveals Keys to Increasing Earning Potential

McKissock

We’re excited to announce the release of the 2020-2021 Appraisal Income Guide , the second annual Income Guide to be published by McKissock Learning. This 23-page report analyzes appraiser income data gathered from nearly 500 active appraisers across the United States.

3 Tennessee Appraisal License Classes Now Available Online

McKissock

In July 2020, the Tennessee Real Estate Appraiser Commission approved three qualifying education courses to be completed online. Basic Appraisal Principles, Basic Appraisal Procedures, and the 15-hour National USPAP Course no longer have to be completed in a live classroom.

Global DMS transforms appraisal management software

Housing Wire

Finding an appraisal management software for real estate and commercial that works the way each individual lender does is difficult – usually resulting in time-consuming configurations, development work and training.

Appraising the Weird Stuff: Observations from a Seasoned Florida Appraiser

McKissock

During that time, we’ve offered several courses on appraising “oddball” or “complex” properties. Despite the rise of AVMs in recent years, these types of assignments continue to require competent, boots-on-the-ground residential appraisers.

Refinance Appraisal vs Purchase Appraisal: Is There a Difference?

HomeLight

Now you’re confused because you need a refinance appraisal, but you just got a purchase appraisal before being approved for a mortgage — is there a difference between a refinance appraisal vs. purchase appraisal? What do appraisers look for?

5 Resources to Help You Avoid Appraisal Errors and Violations

McKissock

As busy real estate appraiser, both your time and your professional reputation are extremely valuable. While most common appraisal errors are minor and won’t result in disciplinary action, even small mistakes take time to correct and therefore slow down your process.

7 Key Considerations for Using a Restricted Appraisal Report

McKissock

In any real estate appraisal assignment, you must use one of the two written report options outlined in USPAP: Appraisal Report or Restricted Appraisal Report. Before you take on a Restricted Appraisal Report, here are some important things to consider.

7 Ways for Appraisers to Spend Less Time on Email

McKissock

Many appraisers report that they’d like to spend less time on email. Here are seven things you can do to spend less time on email and more time on appraisal reports. Free Guide: Download your free copy of our Appraisal License Upgrade Guide.

FREE Webinar: The Appraisal Foundation 2021 Q1 Update

McKissock

On Wednesday, January 20, 2021, McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “The Appraisal Foundation 2021 Q1 Update.” Participate in this Q&A session with Lisa Desmarais, Vice President, Appraisal Issues with The Appraisal Foundation (TAF).

8 Characteristics of a Successful Real Estate Appraiser

McKissock

So, you’re interested in becoming a real estate appraiser. But how do you know if you’re a good fit for the appraisal profession? To help answer these questions, we’ve outlined eight characteristics of a successful real estate appraiser.

Cosmetic vs. MPR Repairs: Guidance for FHA Appraisers

McKissock

the intended users for an FHA appraisal report are FHA and the mortgagee. FHA appraisals are not a guarantee that the property is free from defects. The appraisal establishes the value of the property for mortgage insurance purposes only. Need to renew your appraisal license?

Do You Need a College Degree to Become an Appraiser?

McKissock

Consider becoming a real estate appraiser. ” and “How much money can you make as an appraiser?” What are the requirements to become an appraiser? To become a licensed real estate appraiser, you must pass the National Uniform Licensing and Certification Exam.

How Are Appraisal Complaints Enforced?

McKissock

Disciplinary complaints against appraisers have become more frequent over the last several years. Of course, not all appraisal complaints result in disciplinary action. Example: How one state handles appraisal complaints. Looking to upgrade your appraisal license?

Safety Tips for Appraising REO Properties

McKissock

REO properties represent business opportunities for appraisers, as property valuations may be needed for pre-foreclosure, loan workouts, short sales, asset evaluation, and more. Here are some safety threats to be aware of when appraising REO properties, and tips on how to avoid them.