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Results 1 - 10 of 98 |
Posted Date: Friday, September 24, 2021
Fannie Mae and Freddie Mac followed up reports of potential bias resulting in racial and ethnic valuations gaps in home purchase appraisals by conducting research and analysis to determine where these gaps are occurring, why they exist, and what steps they can take to remediate the situation.
“As one of the largest consumers of residential appraisals in the United States, we’ve asked ourselves whether we are doing all we can to identify and help prevent it,” Jake Williamson, Fannie Mae vice president, single-family collateral risk management, said.
Read on for more details. Read on »
Posted Date: Thursday, September 16, 2021
United Wholesale Mortgage (UWM) has launched UWM Appraisal Direct, giving clients another option when ordering appraisals on UWM loans.
The program currently is in the pilot stage and will be released in all 50 states on Oct. 1, 2021.
Read on for more details. Read on »
Posted Date: Thursday, September 16, 2021
Envoy Mortgage has adopted an appraisal management system from Reggora, an appraisal software company, to assist in processing all loans requiring an appraisal.
Envoy said the integration is part of its “digital transformation” and investment in technology optimization to improve its overall lending solution.
Read on for more details. Read on »
Posted Date: Thursday, December 17, 2020
Evolve Mortgage Services has acquired the appraisal platform assets of Veptas Technology Solutions, Inc.
Read on for more details. Read on »
Posted Date: Tuesday, November 24, 2020
Quantarium and Valligent Technologies announced the launch of QVM-Insights, an AI-powered, automated valuation model for equity lending, broker price opinions, and real estate owned valuations.
Read on for more details. Read on »
Posted Date: Wednesday, November 21, 2018
A proposal to exempt residential real estate transactions of $400,000 or less from appraisal requirements could help alleviate industry concerns about the time and cost associated with completing such transactions.
Federal banking regulators issued a notice of proposed rulemaking to raise the residential appraisal threshold, stating that they believe doing so could provide meaningful relief from appraisal burdens without posing safety and soundness threats.
Find out what the proposal could mean for banks if implemented. Read on »
Posted Date: Tuesday, October 9, 2018
To stem the rise in what it called appraisal bias in reverse mortgage applications, the Federal Housing Administration (FHA) recently announced that it will require a second appraisal any time it suspects a home’s value has been overestimated when being considered for a Home Equity Conversion Mortgage (HECM).
The agency was scant on details about its evaluation methodology during a media conference call. However, FHA Commissioner Brian Montgomery said the agency would be looking for patterns among individual lenders, using unique attributes of its assessment tools.
Find out more about findings that led to the FHA’s new appraisal requirements and what Montgomery had to say about the move. Read on »
Posted Date: Friday, September 28, 2018
The Federal Housing Administration (FHA) will start requiring second independent appraisals for Home Equity Conversion Mortgage (HECM) originations, commonly known as reverse mortgages, in cases where the agency suspects inflated property values.
The new requirement will apply to case numbers assigned on or after Oct. 1 through Sept. 30, 2019 but did not include details on what might trigger FHA to require a second appraisal.
Read on to find out more details about the new requirement. Read on »
Posted Date: Tuesday, September 25, 2018
The National Credit Union Administration (NCUA) Board has proposed a rule that will decrease the number of properties requiring appraisals among non-residential properties and in rural areas, and clarify certain requirements for completing appraisals.
Some of the changes implement provisions of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).
Find out more about the proposed rule and the credit union industry’s reaction to it. Read on »
Posted Date: Thursday, June 7, 2018
After helping build more than 200 bikes and Big Wheels for local youth over the past six years, attendees at the National Settlement Services Summit (NS3) took time Wednesday to provide a different kind of summer fun for Michigan children.
The seventh annual “Make a Child Smile” community service event, sponsored by Adeptive Software, saw attendees put together Summer Fun Supply Kits, which will be delivered to the Boys & Girls Clubs of Southeastern Michigan.
Read on for more from the event and presentation. Read on »
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