Housing Wire

MAY 2, 2025

It removes the need to qualify for two mortgages simultaneously, although appraisal , credit score and minimum equity requirements still apply. Rate is also introducing a Buy Before You Sell product, enabling borrowers to make offers without first selling their current home.

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Housing Wire

APRIL 6, 2021

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal. That’s common these days. Streamline by combining services.

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Housing Wire

MAY 13, 2021

Sheridan’s listing appraised at the contract price, and the deal went through without a hitch. The challenge is that the sales data you’re looking at is dated,” said Shawn Telford, chief appraiser at CoreLogic. Indeed, time adjustments are a valuable tool that appraisers use to reflect changing prices in the local housing market.

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Housing Wire

NOVEMBER 1, 2023

Appraisal technology company Accurate Group announced this week that it has acquired Voxtur Appraisal Services , an appraisal management company (AMC). Voxtur primarily serves real estate finance providers and specializes in broker-price opinions (BPOs), alternative valuation methods and traditional appraisals.

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Housing Wire

MAY 24, 2022

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. One mid-sized lender echoed the opinion of others that appraisals still take too long.

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Housing Wire

DECEMBER 28, 2020

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. The Request for Input (RFI) – open to comment until Feb.

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Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. You make an offer on your dream home, and the appraiser verifies the property is worth what you offered (or more).

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Housing Wire

FEBRUARY 3, 2025

Company Name Company Website Markets Served Company HQ MMI mmi.io/ Loan Origination Cottonwood Heights, UT Paradatec paradatec.com/ Loan Origination, Servicing, Secondary and Closing Wilmington, DE Outamation outamation.com/ Servicing Southlake, TX Orion Lending orionlending.com/ Loan Origination Orange, CA Optimal Blue www2.optimalblue.com/

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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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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.

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Housing Wire

MARCH 24, 2022

The lack of appraisal data from the government sponsored enterprises took center stage at a Senate Banking Committee hearing Thursday on appraisal bias. Tina Smith, both Democrats, also piled on to support making appraisal data public. Capitol building in Washington, D.C. Pennsylvania Sen. Who could release that data?”.

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Housing Wire

JUNE 25, 2024

Home appraisals are critical to the home buying and selling process. But that’s not all a home appraisal can do. Let’s take a closer look at appraisals, what they mean for a sale, and how to leverage the results to get your clients the best price possible. What is the purpose of a home appraisal?

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Housing Wire

JUNE 17, 2024

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees.

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Housing Wire

DECEMBER 7, 2021

If there’s anything that lenders and borrowers have learned from the current purchase market it’s that speed and efficiency are key to a smooth closing. With desktop appraisals now a permanent option, we should expect to see some of the traditional pressure on turn times alleviated.

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Housing Wire

SEPTEMBER 21, 2021

Starting March 14, 2022, the Federal Housing Administration (FHA) will require all lenders to use FHA Catalyst for appraisals. The module can also accept appraisals for Home Equity Conversion Mortgages (HECMs), the administration announced last week. Now the administration is mandating the use of the platform starting next year.

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Housing Wire

MARCH 31, 2025

Rocket said the the transaction is expected to generate $100 million in additional pre-tax revenue from higher recapture rates and attaching its title, closing and appraisal services to Mr. Coopers existing originations. The deal is expected to close in the fourth quarter of 2025.

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Housing Wire

JULY 22, 2024

Last April, Erik Morin made a return to the reverse mortgage valuation space by joining appraisal and valuation company Atlas VMS. The wider appraisal industry itself is preparing for new appraisal forms, which should be introduced next year. “The The way we manage our appraisal process is different,” he said. “We

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Housing Wire

OCTOBER 16, 2024

Reggora CEO Brian Zitin said his company is looking to help mortgage lenders by removing the need to manually underwrite most appraisals. Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. decline from Q1 2024.

FHA loan 435

FHA loan Mortgages Loans Technology 435

Housing Wire

JANUARY 10, 2022

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays. HW: How can lenders help homebuyers avoid closing delays?

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Housing Wire

MAY 17, 2024

has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000. It also offers a homebuyer grant that distributes up to $7,500 in eligible areas.

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Housing Wire

MAY 2, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.”

Mortgages 468

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Housing Wire

DECEMBER 8, 2022

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. What’s going on? New products speeding up the process.

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Technology Inspection Industrial Closing 418

Housing Wire

APRIL 18, 2025

Cosmetic updates like flooring, paint or finish work can sometimes be done after closing at a lower cost. Buyers should also budget for post-closing expenses such as landscaping, window treatments, built-in cabinetry and appliances that may not be included. For quick move-in homes, closing dates can also be adjusted.

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Purchase and sale agreement New Construction Construction Closing costs 374

Housing Wire

NOVEMBER 22, 2023

Editor in Chief Sarah Wheeler sat down with Scot Rose , CIO at Class Valuation , to talk about innovation in the appraisal space and how the technology being deployed for appraisal modernization can actually protect appraisers. Everybody is affected by the appraisal process. SW: How is technology changing appraisals?

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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.

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Housing Wire

MAY 2, 2022

From drive-through closings to drone-guided inspections, industry experts got creative to meet the growing demand for new homes for a surge of homebuyers and homeowners who wanted to take advantage of low interest rates. Why desktop appraisals and why now?

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Industrial Technology MLS Inspection 418

Housing Wire

SEPTEMBER 17, 2022

The Federal Housing Administration on Thursday said it would pause the mandatory effective date for its electronic appraisal delivery module because it is “reassessing aspects of [its] development and implementation.”. FHA will provide further updates on its plans for electronic appraisal delivery as they become available.”.

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Housing Wire

JULY 1, 2024

Adding to this challenging financial reality, the “ COVID ” vintage of loans has led to brutal repurchase costs for lenders, significantly driven by appraisal defects. Data from the most recent ACES Mortgage QC Industry Trends Report shows a year-over-year increase in appraisal-related defects.

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Technology Loans Industrial Mortgages 435

Housing Wire

AUGUST 25, 2022

With recent developments from Fannie Mae and Freddie Mac to pursue a more digital appraisal process that could both speed up the process and remove any unconscious bias from it, it is important for industry professionals across the space to stay at the top of their game. 3-5 is proud to present an appraisal-centered session this year.

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Technology Industrial Development Closing 418

Housing Wire

AUGUST 24, 2022

For the past two years appraisal gap clauses have been de rigueur in many markets , much to the disdain of frustrated homebuyers. On Wednesday, the firm launched Tomo Appraisal Coverage. The post Tomo launches solution for the dreaded appraisal gap appeared first on HousingWire.

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Housing Wire

DECEMBER 27, 2023

The systems outage has derailed closings across the country over the holidays for homebuyers and sellers using the company’s title services in more than 2,000 locations. Homebuyers, sellers and appraisers have been responding to the company’s LinkedIn announcement on the cybersecurity incident, asking for clarification.

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Closing Title Technology Mortgages 508

Housing Wire

JANUARY 8, 2021

Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs? Closing costs are the thousands of dollars associated with buying a home.

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Closing costs Closing Title search Title 531

Housing Wire

MARCH 23, 2022

The Department of Housing and Urban Development ’s long-awaited action plan on appraisal bias outlines administrative actions the federal government will quickly take to address mis-valuations. But the report fails to offer a clear plan to release appraisal data from the government sponsored enterprises.

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Finance Loans Industrial Development 448

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs ‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals all together.

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VA loan Loans Lending Finance 418

Housing Wire

AUGUST 5, 2022

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?

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Inspection Lending Industrial Technology 435

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

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Industrial Lending Equity Banks 397

Housing Wire

MAY 26, 2021

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The percentage of purchase mortgages increased to 43% of total closed loans.

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Closing Mortgages VA loan FHA loan 476