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Rule concerning state supervision of AMCs could come down this month
Posted Date: Wednesday, December 3, 2014
The Consumer Financial Protection Bureau announced it could finalize an interagency proposed rule this month that would mandate minimum requirements for the state registration and supervision of appraisal management companies. Keep reading to see the proposed rule and what industry participants had to say about it.
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Appraisals to gain new importance in commercial loan business
Posted Date: Wednesday, November 19, 2014
New rules that revise capital requirements for all banks, savings associations and U.S. bank holding companies with more than $500 million in assets have put a renewed focus on the appraised “as complete” value of some commercial loans. Continue reading for the details.
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Fannie announces changes to UCDP
Posted Date: Wednesday, November 19, 2014
Fannie Mae announced Nov. 18 that it will be making changes to the Uniform Collateral Data Portal that include new risk flags that detect quality issues, overvaluation, property eligibility and policy compliance violations in an appraisal report. Continue reading to learn about the changes.
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MISMO releases new version of standards for comment
Posted Date: Monday, November 17, 2014
Mortgage Industry Standards Maintenance Organization, the standards development body for the mortgage industry, has announced the release of version 3.3.1 of the MISMO Residential Reference Model for public comment. This version of the standard includes new data points and structures to support regulatory requirements and additions in the area of property valuation. Keep reading for the details.
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AMC adds to management team
Posted Date: Wednesday, November 19, 2014
An Ohio-based full service appraisal management company serving commercial and residential mortgage lending operations throughout the United States announced Nov. 18 it has appointed a 35-year industry veteran to its management team. Continue reading to learn about the hire.
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Fannie announces changes to help boost lending
Posted Date: Monday, December 1, 2014
Fannie Mae announced Nov. 20 that it has made changes to its representation and warranty framework intended to provide lenders with greater certainty and clarity around potential repurchase risk. Keep reading to learn about the changes Fannie is making to help free up credit for more homeowners.
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The housing segment that continues to flourish
Posted Date: Wednesday, November 12, 2014
According to new data, there is one area of the housing market that continues to flourish even as the rest of the market has struggled to rebound. Keep reading to see why a specific segment of the population is rushing to the signing table.
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Single-family production on the upswing
Posted Date: Wednesday, November 19, 2014
Housing starts are inextricably linked to the strength of the housing market, but as single-family production hit its highest level in October in nearly a year, multifamily production dropped precipitously. Keep reading to see what conclusion a pair of industry experts drew from the latest housing data.
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Increased home prices lead to drop in affordability
Posted Date: Monday, November 17, 2014
A rise in home prices to levels not seen since 2007 contributed to a slight dip in nationwide housing affordability in the third quarter, a new report shows. Keep reading for the details.
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Ex-appraiser avoids jail sentence amid objections
Posted Date: Wednesday, November 19, 2014
A former Ohio appraiser who received jail time for using other appraisers’ identities to continue to complete assignments after his license was revoked won’t have to complete his four-year prison sentence thanks to a judge’s ruling Nov. 14. Keep reading to see why one of the appraiser’s victims objected to his release.
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Court case centers on whether appraisal wrongfully influenced buyer
Posted Date: Wednesday, November 12, 2014
A pair of California appraisers found themselves defending allegations in court that they intended to influence the plaintiff’s decision on whether or not to purchase a California property. Keep reading for the court’s verdict.
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De Niro stands down in appraisal dispute with city
Posted Date: Monday, December 1, 2014
In a case of the Hollywood bad guy exchanging his black hat for a white one, Robert De Niro made nice with the town of Gardiner, N.Y., after a drawn-out battle over the tax assessment the town placed on his rural property cost the town more in legal fees than it stood to win in tax revenue. Keep reading to see how the final scene in De Niro’s appraisal dispute played out.
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FHFA COO found not guilty of threatening former director
Posted Date: Monday, December 1, 2014
The Federal Housing Finance Agency’s chief operating officer who was charged April 30 with threatening to kidnap or injure the former director of the agency was found not guilty of making the threats Nov. 20.
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Software to help lenders satisfy appraisal regulations
Posted Date: Wednesday, November 19, 2014
A software provider has announced its Valuation Portal can help keep lenders compliant with the Equal Credit Opportunity Act and Electronic Signatures in Global and National Commerce Act when delivering appraisals to borrowers. Continue reading to learn how the software satisfies today’s regulations.
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Integration to help lenders better manage appraisal services
Posted Date: Monday, December 1, 2014
A national provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries announced that its valuation lifecycle management hub now seamlessly connects more than 17,000 mortgage lenders and service providers to better facilitate the valuation process. Keep reading for the details.
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More MLS databases to highlight accessibility features
Posted Date: Wednesday, December 17, 2014
Multiple listing services are expected to become more informative over the next year thanks to an effort to increase uniformity between the terms different services use when it comes to reporting homes’ disabled access features. Keep reading for the details.
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Appraisal company names new members to management team
Posted Date: Wednesday, December 17, 2014
A nationwide provider of appraisals, broker price opinions and other valuation-related review products to the financial services industry announced Dec. 15 that it has strengthened its management team to support the company’s emphasis on quality assurance and compliance. Keep reading for the details.
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Ferguson and the price of civil unrest
Posted Date: Monday, December 15, 2014
The economic damages to Ferguson, Mo., might go beyond the looted and vandalized properties seen on the news. According to a new report, the area’s housing market is showing signs that could lead to long-term economic trouble. Keep reading for the details.
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Housing continues ‘slow march back’
Posted Date: Monday, December 15, 2014
Housing market strength is anticipated to continue to improve in the New Year even though homebuilder confidence is down slightly heading into 2015, according to a new report. Keep reading to see how the housing market is expected to shake out in the near future.
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Report shows how homes appreciate
Posted Date: Monday, December 15, 2014
A new report released Dec. 9 that analyzes data of single-family residential home sales from the past decade shows how different types of homes appreciate in value. Keep reading for the results.
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New pre-appraisal report designed to value homes before they go up for sale
Posted Date: Wednesday, December 10, 2014
A provider of property-specific reporting products and a New Jersey-based provider of residential and commercial appraisal management services announced a new service for homeowners and real estate professionals to aid in estimating a home’s value before the property goes on the market. Continue reading to learn about the new report.
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Developing Story: Wells Fargo talks about Closing Disclosures plan
Posted Date: Wednesday, December 10, 2014
Wells Fargo is addressing questions from title agents and other settlement services professionals about their plans for the Closing Disclosure, after the lender announced in September that it would deliver the Closing Disclosure to borrowers when the new rules take effect Aug. 1, 2015. It also addresses delivering appraisals at the loan closing.
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Industry consultant talks appraisal growth strategies
Posted Date: Monday, December 8, 2014
No matter the industry, advice on how to grow a business is always in great demand. The problem is, it can be difficult to know where to go for sound guidance. Valuation Review spoke with an industry expert about how independent appraisal companies and AMCs can maximize their businesses and thrive in the New Year.
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Whitepaper prepares industry for Fannie’s Collateral Underwriter
Posted Date: Monday, December 8, 2014
A new whitepaper from an industry leader gives advice on lender and AMC best practices for complying with implementation of Fannie Mae’s new appraisal quality tool, Collateral Underwriter, as well as other Fannie requirements for mortgage origination. Keep reading to see the appraisal oversight that lenders and AMCs are going to be focused on next year.
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AMC expands into two new states
Posted Date: Monday, December 8, 2014
A Rhode Island-based AMC announced Dec. 5 that it has been granted the licenses to expand into two new states. Continue reading to see where the company will be branching out.
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Appraisal services provider rolls out eSignature solution
Posted Date: Monday, December 8, 2014
A nationwide appraisal services provider announced that it has rolled out its eSignature solution to comply with the latest industry regulations. Keep reading to see who is jumping on the eSolution bandwagon.
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Pressure causing appraisers to inflate home values?
Posted Date: Wednesday, December 3, 2014
Pressure from loan officers, real estate agents and appraisal management companies has contributed to home value inflation by residential appraisers, according to a new report. Keep reading to see what industry experts had to say on the matter.
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Zillow target of two California lawsuits
Posted Date: Wednesday, December 3, 2014
Online real estate database Zillow Inc. is the target of two lawsuits filed in California. In both cases, inside sales consultants allege Zillow violated state and federal laws by requiring employees to work unpaid overtime, and one case accuses the online real estate database of “rampant” fraudulent activity that, when reported to managers, resulted in employee retaliation in violation of whistleblower laws. For more on the plaintiffs’ lawsuits — filed by a well-known celebrity criminal defense attorney — keep reading for the details.
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ServiceLink announces addition of industry veteran
Posted Date: Wednesday, December 3, 2014
ServiceLink, a national provider of valuation and transaction services to the mortgage and finance industries, announced the addition of a 40-year mortgage industry veteran to its team Dec. 3. Keep reading for the details.
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Home prices tick up to six-year high
Posted Date: Wednesday, December 3, 2014
A new housing report shows that the median sales price of U.S. homes has reached its highest point since September 2008. Keep reading to see what analysts attribute the uptick to.
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Fannie, Freddie policy relaxed to help initiate home sales
Posted Date: Wednesday, December 3, 2014
The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac on Nov. 25 to alter one of their policies relating to the sale of real estate owned properties in their current inventory to help spark home sales. Keep reading to see who will benefit from the changes.
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