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CFPB: TAF ethic rule must be clear on discrimination bans
Posted Date: Monday, February 14, 2022
The Consumer Financial Protection Bureau (CFPB), in a letter to The Appraisal Foundation’s (TAF) Appraisal Standards Board (ASB), outlined concerns it has towards TAF and the ASB’s failure to be clearer on federal law requirements surrounding appraisal discrimination.
The CFPB is concerned appraisers are unaware of federal discrimination bans.
Read on for more comments from the CFPB.
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Appraisal company exec discusses market matters, COVID stresses
Posted Date: Wednesday, February 16, 2022
Valuation Review spoke with Reggora Appraisal Compliance and Initiatives Director Ken Dicks on the topic of marketing matters.
The conversation also included lender regulatory requirements, and the underlying basis for enabling inspection relief when it comes to the appraisal of one-to-four-unit properties in the mortgage application process.
Read on for more of this story.
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Company president outlines appraisal partnership
Posted Date: Monday, February 28, 2022
Desktop appraisals will be a very important element in the overall process as valuations move deeper into 2022.
Recently, Incenter Appraisal Management and McKissock Learning joined forces to train and prepare appraisers for these types of assignments, and Incenter Appraisal Management President Mark Walser spoke with Valuation Review about this collaboration.
Read on to find out what we learned.
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JLL directors streamline operations
Posted Date: Monday, February 28, 2022
Recently, Valuation Review introduced its readers to newly appointed JLL Managing Directors Aimee Morgan and Kai Pan.
Both executives detail their plan for growing the business and external brand development.
Read on to learn more.
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AI guides path to successful property tax appeals
Posted Date: Friday, February 18, 2022
Highly qualified appraisers are able to assist homeowners with appeals of property taxes, which can be a large annual expense. Appraisal Institute President Pledger (Jody) Bishop offers ways homeowners can benefit by choosing the appropriate methods.
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Clear Capital names new executive
Posted Date: Monday, February 28, 2022
In support of its goal to accelerate the digital appraisal movement and improve the collateral valuation experience through thoughtful innovation, Clear Capital has announced two senior executive personnel moves. This provides focus on product delivery, including Mei Ling being hired as the company’s first executive vice president, engineering.
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ASC, CLEAR analysis focuses on appraisal standards, qualifications
Posted Date: Monday, February 28, 2022
A report on real estate appraisal standards and appraiser qualifications commissioned by the Appraisal Subcommittee (ASC) and managed by the Council on Licensure, Enforcement and Regulation (CLEAR) was recently released.
Valuation Review obtained more information regarding this report from ASC Executive Director Jim Park.
Read on to find out what Park had to say.
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FHA removes temporary COVID-19 mitigants for multifamily transactions
Posted Date: Wednesday, March 2, 2022
The Federal Housing Administration (FHA) recently announced at the Mortgage Bankers Association Commercial/Multifamily Finance Convention & Expo in San Diego that it is removing temporary COVID-19 underwriting mitigants for multifamily transactions insured under Section 223(f) of the National Housing Act. This takes effect immediately for all insured transactions that have yet to reach endorsement.
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Commercial/multifamily borrowing jumped to record high
Posted Date: Monday, February 28, 2022
Commercial and multifamily mortgage loan originations were 79 percent higher in the fourth quarter of 2021 compared with a year ago and increased 44 percent from the third quarter of 2021. This is according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, which was released at the 2022 Commercial/Multifamily Finance Convention and Expo in San Diego.
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STRATMOR Group: Lenders should focus on customer experience to grow
Posted Date: Monday, January 17, 2022
According to the STRATMOR Group’s December Insights Report, virtually every lender wants to grow, but only those who focus on the customer experience are likely to do so. In “Mapping the Evolving Customer Journey,” STRATMOR Customer Experience Director Michael Seminari and Senior Advisor Sue Woodard provide insight into a critical step in creating a positive customer experience.
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Survey shows 75 percent of recent homebuyers have regrets
Posted Date: Wednesday, March 2, 2022
Purchasing a home in a rapidly appreciating and hypercompetitive housing market can feel like the right “move.”
But a new Zillow survey finds even those who are successful often make compromises and can suffer from buyer’s remorse.
Read o n to learn more.
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FHFA raising high balance, second-home loan fees
Posted Date: Monday, January 24, 2022
The Federal Housing Finance Agency recently announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for certain high balance loans and second-home loans. High balance loans are mortgages originated in certain designated areas above the baseline conforming loan limit.
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Voxtur applauds Freddie, Fannie digital appraisal decision
Posted Date: Friday, February 18, 2022
Voxtur Analytics Corp., a North American technology company, applauds the recent decision by Fannie Mae and Freddie Mac to permanently allow desktop home appraisals beginning in March. This move addresses the backlog of appraisals created by the pandemic, the corporation said.
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JLL adds cost segregation to valuation advisory services
Posted Date: Wednesday, March 2, 2022
JLL announced it has added cost segregation analysis services to its Valuation Advisory offerings.
The new service is led by the Renewable Energy team and will enable its infrastructure and renewable energy clients, as well as owners of traditional commercial real estate, to maximize their tax benefits.
Read on for more details.
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Freddie Mac introduces automated assessment to assist lenders
Posted Date: Wednesday, March 2, 2022
Freddie Mac recently announced that the company will launch a new, automated capability that allows mortgage lenders to assess a prospective homebuyer’s income paid through direct deposit. This should reduce the paper documentation burden on borrowers so they can close loans faster and simplify the lending process.
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Valbridge Property Advisors welcomes new team member
Posted Date: Wednesday, March 2, 2022
Valbridge Property Advisors, an independent commercial property valuation and advisory services firm, recently added William Roitsch to the Valbridge Property Advisors’ Houston team. Roitsch will serve as director of subdivision Valuation for the Houston office.
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Executive discusses possible hindering requirements
Posted Date: Friday, February 18, 2022
Valuation Review concludes its conversation with Reggora Appraisal Compliance and Initiatives Director Ken Dicks.
The industry veteran wraps up matters on regulatory requirements, in addition to whether or not flexibilities might hinder appraisal reports.
Read on for the conclusion of this feature story.
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CoreLogic: Delinquency numbers decreased in November
Posted Date: Friday, February 18, 2022
The CoreLogic Loan Performance Insights (LPI) report through November 2021 showed interesting numbers.
One of which was that 3.6 percent of mortgages were delinquent by at least 30 days, or more.
Read on to learn additional results from this report.
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Black Knight: Homeowner tappable equity at record high
Posted Date: Friday, February 18, 2022
The Data & Analytics division of Black Knight, Inc. released its latest Mortgage Monitor Report, based upon the company’s mortgage, real estate and public records datasets.
After a year of historic home price gains, homeowners’ tappable equity has hit yet another record high, according to Black Knight Data & Analytics President Ben Graboske.
Read on to learn more.
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ASB announces comprehensive Ethics Rule review
Posted Date: Friday, February 18, 2022
The Appraisal Foundation’s Appraisal Standards Board announced a comprehensive review of the Ethics Rule in the Uniform Standards of Professional Appraisal Practice (USPAP). This announcement follows a Feb. 4 letter from federal regulators asking for clarity regarding discrimination.
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Redfin predicts rising rates, affordability
Posted Date: Friday, February 18, 2022
Redfin economists predict the 30-year fixed mortgage rate will climb to 3.9 percent by the end of this year, according to a release. And if it does, home affordability is going to take a dive.
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AMC team speaks to confidence matters with desktop appraisals
Posted Date: Wednesday, February 16, 2022
Valuation Review concludes its conversation with Class Valuation’s Chief Innovation Officer Scot Rose and Chief Appraiser John Dingeman, who give more insight regarding Freddie Mac and Fannie Mae incorporating desktop appraisals into their Selling Guides.
Rose and Dingeman noted many advantages to this technology, including the time-saving factor.
Read on for the conclusion of this story.
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BBG appoints VP
Posted Date: Wednesday, February 16, 2022
BBG recently appointed Raj Roy as vice president of special projects.
This role is a newly created position within the company.
Read on for more information about this appointment.
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RealtyTrac data shows increase in investor purchases
Posted Date: Wednesday, February 16, 2022
Real estate investor purchases accounted for 16.4 percent of all home purchases nationally in Q3 2021 compared with 11.7 percent in Q3 2020, a year-over-year increase of just over 40 percent, according to the RealtyTrac Investor Purchase Report.
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Black Knight to offer CRM, mortgage-marketing engine
Posted Date: Wednesday, February 16, 2022
Black Knight, Inc.’s Surefire, the company’s customer relationship management and marketing automation software, has been integrated with its Empower loan origination system. The company said the integration will offer greater support for mortgage lenders to power retail, whole, and direct-to-consumer channels through the loan application process.
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NAR files counterclaim against REX
Posted Date: Wednesday, February 16, 2022
The National Association of Realtors (NAR) has filed a counterclaim against a real estate technology company that is accusing the trade association of antitrust violations. REX sued in March, claiming its competitive mode is threatened by the concerted action of NAR and Seattle-based Zillow, along with their multiple listing services affiliates.
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