Housing Wire

MARCH 24, 2023

When you google “ appraisal gap” — and I just did — a long list of search results appear. What I did see were links to lender websites almost apologetically explaining what an appraisal gap is to their customers and willing them not to panic if it happens to them. Well, a cure for appraisal gap anxiety has appeared on the scene.

Loans 446

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Housing Wire

JUNE 6, 2023

Nationwide Property & Appraisal Services LLC (NPAS), a pioneer in the real estate appraisal sector, announced on Tuesday the launch of its product line, Pinnacle Desktop Appraisals. By separating the data collection and valuation processes, potential bias is eliminated, ensuring that homeowners and appraisers never meet.

Technology 370

Technology Equity Banks Design 370

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. Lenders using Blend’s home equity product can offer personalized home equity loans and then close in a few days as opposed to multiple weeks it takes through legacy home equity processes, according to the firm.

Equity 395

Equity Loans Banks Title 395

Housing Wire

AUGUST 25, 2022

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. In the last five years alone, homeowners have gained, on average, $125,000 in equity on their properties.

Lending 395

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Housing Wire

APRIL 6, 2023

The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) in May for its second public hearing on appraisal bias. At the first ASC hearing in January, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra took aim at the dysfunctional regulatory system that governs the appraisal industry. “I

Industrial 383

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Housing Wire

JANUARY 12, 2023

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 How do you identify the right home equity partner? Excellent turn times.

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Housing Wire

FEBRUARY 28, 2023

Digital mortgage lender and nonbank home loan provider Better.com has launched “Equity Unlocker,” a mortgage innovation that allows employees to pledge vested stock equity as collateral for a down payment without selling their stock. Equity Unlocker is currently available in Florida, New York and Washington state.

Equity 383

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Housing Wire

OCTOBER 29, 2021

JPMorgan Chase recently donated $3 million to the Appraiser Diversity Initiative , putting its financial support behind a growing movement to bring more diversity to the residential appraisal field. A commitment to advance racial equity. particularly among Black and Latinx communities. Become a member today. Already a member?

Equity 370

Equity Residential Lending Industrial 370

Housing Wire

OCTOBER 14, 2022

The Office of the Comptroller of the Currency , the Consumer Financial Protection Bureau , the Federal Reserve Board on Thursday announced that the 2023 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will jump to $31,000 from $28,500. The threshold amount will be effective Jan.

Loans 407

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Housing Wire

MARCH 23, 2023

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S.

Lending 383

Lending Finance Equity Development 383

Housing Wire

NOVEMBER 17, 2022

Jim Amorin, the CEO of the Appraisal Institute , on Thursday announced his resignation from the appraisal trade group. In a statement, the Appraisal Institute said Amorin’s five-year term will end effective Feb. The racial gap itself in appraised values increased by 75% during that period. as Hispanic.

Equity 370

Equity Banks Residential Finance 370

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

Equity 383

Equity Loans Lending Banks 383

Housing Wire

FEBRUARY 24, 2023

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. Another common theme is reducing the amount of subjectivity within the appraisal forms and data standard.

Development 383

Development Industrial Equity Investor 383

Housing Wire

AUGUST 22, 2022

Mortgage startup NFTYDoor plans to launch a home equity platform, promising borrowers “a one-minute online application and funding in as little as three days.” He’s entering a bright space: home equity products have become more popular given the surging value of homes used as collateral. Presented by: ServiceLink.

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Housing Wire

JULY 12, 2022

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser. Made to order.

Inspection 407

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Housing Wire

DECEMBER 6, 2021

A San Rafael, California real estate appraiser is being sued for allegedly undervaluing a home by almost 50% because the homeowners are Black. Miller of Miller & Perotti Real Estate Appraisal and AMC Links LLC , an appraisal management company headquartered in Lehi, Utah.

Development 395

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Housing Wire

OCTOBER 20, 2021

Less than one month after launching operations , the private holding group StoicLane – the backers of Interfirst Mortgage – has acquired control of the appraisal management company Lender’s Valuation Services (LVS). The team co-founded several companies and, since 2004, they claim to have created $4 billion in equity value to investors.

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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.,

Marketing 407

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Housing Wire

FEBRUARY 10, 2021

Lender Sierra Pacific Mortgage (SPM) announced Wednesday it will use CoreLogic’s collateral valuation platform in order to streamline future home appraisals. HousingWire recently spoke with CoreLogic’s Chief Appraiser Shawn Telford about re-examining traditional appraisal workflows in light of the changes brought on by COVID-19.

Loans 383

Loans Inspection Mortgages Equity 383

Housing Wire

SEPTEMBER 29, 2020

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. Announced in April, this rule applies only to loans kept in a bank’s portfolio, and originally alarmed appraisers. 31 this year.

Commercial 417

Commercial Residential Equity Banks 417

Housing Wire

JUNE 8, 2022

Freddie Mac will also conduct research on formerly redlined areas, to more effectively target its equity plan. Both GSEs also plan to take action to reduce bias in appraisals, in part by doubling down on appraisal automation.

Equity 370

Equity Finance Loans Development 370

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.

Marketing 539

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Housing Wire

MARCH 17, 2021

Lovell Minnick Partners , a private equity firm that acquired ATTOM Data Solutions in 2019, announced Wednesday morning that it’s diving further in to the housing space with the acquisition of UniversalCIS. UniversalCIS also moved into the appraisal space in January after it acquired mortgage tech provider Sharper Lending.

Equity 383

Equity Technology Lending Title 383

Housing Wire

OCTOBER 4, 2023

HousingWire recently spoke to Chris McLain, division president of Valuations for Consolidated Analytics , about the current appraisals market, AI innovation in valuations and valuation products for HELOCs and second-lien mortgages. HousingWire: How is the market for appraisals changing in 2024? Then we did more of the same.

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HomeLight

NOVEMBER 30, 2023

An appraisal is one way to answer that question, but like anything price-related, that appraisal isn’t going to be good forever. A common question for homebuyers is: How long are appraisals good for? And how long is that appraisal good for? Why do you need an appraisal? Well, yes and no.

Banks 113

Banks Finance Loans Lending 113

Housing Wire

MAY 2, 2021

To help mitigate these pain points, Incenter Appraisal Management is offering remote BPO and remote inspection capabilities paired with AVMs. These virtual solutions enable lenders and servicers to get their eyes on a property, regardless of whether they can appraise it in person – as long as the homeowner has access to a cell phone.

Inspection 370

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HomeLight

MARCH 28, 2024

To determine your home’s true market value, you can hire a licensed appraiser for around $400 to $600. According to a 2023 Appraisal Survey by the National Association of Realtors, the typical cost is $500. Mortgage lenders require an official appraisal to ensure they’re not lending a buyer or homeowner more than the property is worth.

Inspection 111

Inspection Lending Equity Technology 111

Housing Wire

DECEMBER 15, 2022

Class Valuation , one of the largest appraisal management companies in the U.S., It’s picked up PropertyVal , a Maine-based AMC that is among the largest independent residential appraisal firms in the state. “We Class Valuation is owned by private equity firm Gridiron Capital. has acquired yet another firm.

Residential 370

Residential Lending Equity Technology 370

Housing Wire

FEBRUARY 1, 2022

Class Valuation , one of the largest appraisal management companies in America, just made another acquisition. In a press statement, Class Valuation said Metro-West, founded in 1987, is the largest independent residential appraisal firm in the country, with staff appraisers in over 80 U.S.

Equity 370

Equity Residential Construction Mortgages 370

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. margin and resulting HECM expected rate of 6.72% (Effective 4/2/24 – 4/8/24), a 73-year-old homeowner with a $500,000 home appraisal for would qualify for 39.2%

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Housing Wire

JULY 6, 2023

“Our primary focus has always been to offer our customers a streamlined experience that encompasses a full spectrum of appraisal, valuation data, analytics, and related collateral risk management solutions. Our partnership with ICE Mortgage Technology empowers Veros and Valligent to enhance efficiency for all our clients. .”

Technology 370

Technology Mortgages Lending Equity 370

Housing Wire

MARCH 20, 2024

Ally is partnering with HouseCanary, a tech-forward appraisal firm, to help consumers identify grant-eligible properties using the Ally ComeHome search portal. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 427

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HomeLight

AUGUST 26, 2020

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? Use the equity in your home. Refinance appraisal vs. purchase appraisal: What’s the difference?

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Housing Wire

NOVEMBER 14, 2023

CoreLogic, owned by private equity firm Stone Point Capital , offers a national database covering real property and mortgage information. CoreLogic recently rolled out an augmented reality-based property measuring and sketching tool to create home appraisal reports.

Lending 436

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Inman

JANUARY 31, 2024

Lowball home values cut into homeowner equity and exclude residents from resources and opportunities. A housing battle is raging in Detroit, writes Lee Davenport.

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Equity Agents Marketing 157

McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.”

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Housing Wire

AUGUST 16, 2022

The company, led by Alan Qureshi , says its self-service technology is “able to replicate any investor pricing and modeling construct in real time to provide a unique solution tailored to its clients, including private equity investors and investment banks.”

Technology 382

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