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News By Edition
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Valuation Review Edition
October 4, 2021
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Updated UAD forms are coming
Posted Date: Monday, September 20, 2021
The Uniform Appraisal Dataset (UAD) is being updated to reflect changes to the appraisal industry since the current version was adopted in 2010.
Addressing future appraisal needs and facilitating ongoing digitization in the appraisal process/mortgage industry was also highlighted.
Read on for more from Valuation Review, who was in attendance for this session.
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Fractional interests in appraising
Posted Date: Wednesday, September 15, 2021
According to business and real estate appraiser Dennis Webb of California-based Primus PVX, fractional interests in real estate have proliferated like crazy, and are not going away.
At the 2021 Appraisal Institute Annual Conference attended by Valuation Review in Orlando, Fla., Webb’s presentation focused on looking forward to the 2.0 version of fractional interests involving data, methods and facts.
Read on for more from this conference session.
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Opteon announces another acquisition
Posted Date: Monday, September 27, 2021
Opteon, an international provider of valuation, advisory, and property services, has acquired Valucentric, the company announced in a release.
Opteon uses technology to deliver an average of two-day turn times and on-demand same-day appraisals.
Read on for more details.
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CEO discusses challenges facing appraisers
Posted Date: Wednesday, September 22, 2021
As we’ve come through a full year living under pandemic conditions, what are some of the specific challenges for appraisers moving past COVID-19?
ValueScape Analytics CEO William Leveson-Gower shares with Valuation Review his thoughts on this matter, and much more.
Read on for the complete conversation.
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Voxtur Analytics closes acquisition
Posted Date: Monday, September 20, 2021
Voxtur Analytics Corp. has completed its acquisition of Xome Services LLC and Xome Valuation Services LLC.
Voxtur CEO Jim Albertelli said the acquisition would provide scalability.
Read on to learn more about this transaction.
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BBG expands national presence
Posted Date: Monday, September 27, 2021
BBG recently acquired five Integra Realty Resources appraisal offices in the southeastern U.S.
Terms of the acquisition were not disclosed.
Read on for more information.
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Veteran offers appraisers office help
Posted Date: Monday, October 4, 2021
For this month’s installment of news appraisers should know, Dustin Harris, “The Appraiser Coach,” offers advice from his blog “The Best Idea for IT Support for Your Appraisal Office.”
Harris reminds appraisers of how to better spend their time in the office.
Read on to learn more.
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Integra Realty Resources names director
Posted Date: Monday, October 4, 2021
Integra Realty Resources, one of North America’s largest independent commercial real estate valuation and consulting firms, announced a new team member. Thomas Humbert has joined its Syracuse, N.Y., office as managing director.
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Class Valuation names tech officer
Posted Date: Thursday, September 2, 2021
Class Valuation recently appointed Kaushal Shah to the company’s leadership team as chief technology officer. Shah is a global technology leader with more than 25 years of experience.
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White House announces steps to increase affordable housing
Posted Date: Monday, September 27, 2021
The White House recently announced, immediate steps to supplement the administration’s push for historic, long-term investments in new housing as part of its Build Back Better Agenda.
Since President Joe Biden took office, the economy has created more than four million jobs, with an average of more than 830,000 new jobs over the last three months, the White House said.
Read on for more information from Washington, D.C.
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S&P CoreLogic Case-Shiller Index shows annual home price gain
Posted Date: Monday, October 4, 2021
S&P Dow Jones Indices released the latest results for the S&P CoreLogic Case-Shiller Indices.
The data released for June showed home prices continued to increase across the U.S.
Read on to find out more information.
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BBG director addresses strong housing demand in U.S. multifamily market
Posted Date: Monday, September 20, 2021
Surging rental rates, dwindling inventory of single-family homes and apartments, low-interest rates, higher construction costs and brisk demand for housing nationwide are driving the multifamily sector’s stellar performance during the pandemic, according to BBG Southeastern region Senior Managing Director Grant Griffin.
In a recent article, Griffin noted compression in cap rates for this property sector is one attributing factor.
Read on for more insight.
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Redfin: High-risk areas gaining population
Posted Date: Wednesday, September 22, 2021
America’s disaster-prone areas are becoming more populous as new residents move in, according to a new report from Redfin. The U.S. counties with the largest share of homes facing high heat, drought, fire, flood and storm risk saw their populations grow from 2016-2020 due to migration.
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Survey: Millennials would consider a 3D printed home
Posted Date: Monday, September 20, 2021
Hitting the mainstream is 3D printed home technology with builders claiming these homes can be built in half the time and for half the cost, according to a survey by Realtor.com. But will people actually buy them?
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Incenter Appraisal Management launches key technology
Posted Date: Monday, September 20, 2021
Incenter Appraisal Management recently released its RemoteVal technology, which it said dramatically streamlines one of the biggest bottlenecks in mortgage lending: appraisals. RemoteVal empowers appraisers to achieve compliant inspections.
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CoreLogic: June foreclosure rate lowest in over two decades
Posted Date: Wednesday, October 6, 2021
CoreLogic released its monthly Loan Performance Insights Report for June.
CoreLogic President & CEO Frank Martell said “providing resources to homeowners experiencing distress to help educate them on available government and private-sector support will aide in shrinking delinquency and foreclosure rates even more over the remainder of this year.”
Read on for more from this report.
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Accurate Group welcomes veteran appraiser
Posted Date: Wednesday, October 6, 2021
Accurate Group, a leading provider of technology-driven real estate appraisal, title data, analytics, and e-closing solutions, announced Tony Pistilli will join the company as director of valuation operations and chief appraiser. Pistilli will join the company’s leadership team and report to Steve Baczkowski, the company ‘chief operating officer.
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Freddie: Mortgage rates remain relatively flat
Posted Date: Monday, September 27, 2021
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) which showed the 30-year fixed-rate mortgage averaged 2.88 percent. The PMMS also outlines 15 and 5-year rates.
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Artificial intelligence provider enhances technology
Posted Date: Monday, September 27, 2021
Paradatec, Inc., a provider of AI-based document classification and data extraction technology for mortgage loan processing, now offers its software in the cloud. The company said it is the leading optical character recognition vendor in the world and helps three of the 10 largest mortgage lenders and four of the 10 largest mortgage servicers in the U.S. automate the processing of loan documents.
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Class Valuation stays busy with acquisitions
Posted Date: Wednesday, September 22, 2021
Appraisal management company Class Valuation has acquired real estate software service provider DataMaster.
Class Valuation CEO John Fraas said he is “thrilled” about the move.
Read on for more details.
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Freddie Mac: Research examines causes for appraisal valuation gap in minority neighborhoods
Posted Date: Wednesday, September 22, 2021
Freddie Mac released an analysis showing appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households.
The extent of that appraisal gap increases as the percentage of Black and Latino individuals in the census tract increases.
Read on for more and find out what the Appraisal Institute president had to say about this.
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Accurate Group partners with Novacap
Posted Date: Wednesday, September 22, 2021
Accurate Group, a provider of technology-driven real estate appraisal, title data, analytics, and eClosing solutions, has entered into a strategic partnership with Novacap, one of Canada’s leading private equity firms. The partnership aims to support Accurate Group with the capital and expertise to further grow the business.
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Mortgage delinquencies decrease
Posted Date: Wednesday, September 22, 2021
The Mortgage Bankers Association National Delinquency Survey showed mortgage delinquencies decreased in the second quarter of 2021 for one-to-four-unit residential properties. For purposes of the survey, and to take mortgages in COVID-19 forbearance into account, the organization asked servicers to report loans in forbearance as delinquent if the payment was not made on the original terms of the mortgage.
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CRED iQ launches interactive valuation software
Posted Date: Monday, September 20, 2021
CRED iQ, a data, analytics and valuation platform serving the commercial real estate finance and investment communities, recently launched its interactive valuation tool MyQ. MyQ is the latest development in commercial real estate software and is the first to provide a one-stop-shop for CRE valuation and data, the company said.
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AI president speaks to knowledge of what appraisers do, and more representation
Posted Date: Wednesday, September 15, 2021
Valuation Review concludes its one-on-one conversation with Appraisal Institute (AI) President Rodman Schley from the AI Annual Conference “Rising to the Challenge” in Orlando, Fla.
Schley elaborated on several misnomers people have about the appraisal profession.
Read on for the rest of the interview.
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Commercial firm announces promotions
Posted Date: Wednesday, September 15, 2021
Valbridge Property Advisors, the largest independent commercial property valuation and advisory services firm in the United States, announced multiple promotions in their northern California offices.
The company is seeking appraisers and trainees/analysts throughout its four offices in northern California.
Read on to learn more.
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PropMix platform becomes Profet.ai
Posted Date: Wednesday, September 15, 2021
PropMix.io, the creator of the real estate valuation platform called Market Conditions Advisor, has rebranded the platform to better reflect its vision and capabilities. At the heart of the rebranding is a change to the name of the platform to Profet.ai to represent its objectives of helping customers predict accurate property values.
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STRATMOR: Lenders should shift focus to purchasing businesses
Posted Date: Wednesday, September 15, 2021
In its latest Insights Report, mortgage advisory firm STRATMOR Group connects the dots between lender profitability and business mix and details how the coming purchase market will impact lenders that are not prepared. In “Prepare Now for the Storms Ahead: Build Your Purchase Business,” Garth Graham, STRATMOR senior partner, reveals the data that makes clear the causal link between high refinance volume and high profitability.
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Ribbon raises $150 million to expand digital homebuying
Posted Date: Wednesday, September 15, 2021
Ribbon, the homeownership company, announced it has secured $150 million, inclusive of $75 million in Series C equity financing and $75 million in additional working capital. Additionally, Ribbon has also upsized its $500 million credit facility, on the heels of a 15-time growth spurt this year.
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