News By Edition

On Feb. 13, the Appraisal Subcommittee (ASC) conducted its final hearing on the all-important topic of appraisal bias from the Office of the Comptroller of the Currency in Washington, D.C.

The ASC panel, with Valuation Review in attendance virtually, heard from five witnesses representing the Federal Financial Institutions Examination Council.

Read on to find out what was said at the hearing.

In its continuous efforts to advance the appraisal modernization movement in residential real estate, Stewart Valuation Intelligence (SVI) recently teamed up with Restb.ai.

The partnership brings the Restb.ai artificial intelligence and computer vision technology to SVI’s VALIDITY, the company’s family of inspection applications.

Read on for more information regarding this alignment.

Commercial real estate firm BBG reached out to Valuation Review to share thoughts about infrastructure demand in 2024.

BBG Vice President T.J. Smith and Right of Way Vice President Mark Sadler broke down the beneficiaries of these demands.

Read on to learn more.

The Federal Financial Institutions Examination Council recently issued a statement of principles.

It related to valuation discrimination and bias for member entities to consider in their consumer compliance and safety and soundness examinations.

Read on for more from the statement.

Valuation Review continues to share many helpful tips from Dustin Harris, “The Appraiser Coach.”

This month, Harris, from his blog posts “Turn ‘Time is Money’ on its Head,” and “Surround Yourself with Success,” explained how to further increase your business.

Read on to learn more.

D.R. Coell & Associates marks five decades of experience in property valuation and consulting services with exciting new developments and opportunities, according to a post in the Times Colonist.

With the 2024 election deciding for many who represents us in our state capitals, the personal-finance website WalletHub recently released its report on “2024’s Best State Capitals to Live In.”

Property data curator ATTOM released a special report on U.S. commercial foreclosures, revealing a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024.

Augusta Mortgage Co. recently partnered with Calque to launch The Trade-In Mortgage in Georgia. Augusta Mortgage now offers a buy-before-you-sell program to empower borrowers to leverage their home equity to purchase a new home before selling their old one.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.88 percent of all loans outstanding at the end of the fourth quarter of 2023, according to the Mortgage Bankers Association’s National Delinquency Survey.

Recently, the U.S. Department of Housing and Urban Development awarded nearly $20 million to 11 communities through the Indian Community Development Block Grant program. These grant funds may be used to support families on Indian reservations and in other Indian areas.

First American Data & Analytics released its January 2024 Home Price Index (HPI) report. The report tracks home price changes less than four weeks behind real time at the national, state and metropolitan levels.

As many in the real estate and valuation profession make their way through 2024, real estate brokers are also facing challenges.

The new 2024 Delta Real Estate Leadership survey recently announced its top five challenges for broker leaders this year.

Read on to learn more.

Mortgage Cadence, a subsidiary of Accenture, recently announced a 25-year mortgage and real estate veteran has joined the company’s sales team.

In March 2023, Fannie Mae announced value acceptance + property data, which was limited to certain one-unit properties, excluding condos.

On Jan. 1, McKissock announced the company was withdrawing further action and planning regarding the PAREA (Practical Applications of Real Estate Appraisal) project.

McKissock stated the primary factor contributing to this cancellation was the substantial resource cost.

Read on to learn more information.

The rise of artificial intelligence sophisticated enough to impersonate individuals has led to a surge in complaints about fraud and other consumer harm. In response, the Federal Trade Commission issued a supplemental notice of proposed rulemaking to strengthen anti-fraud measures included in its recently finalized Government and Business Impersonation Rule.

In The Appraisal Foundation’s March newsletter, president David Bunton shared some of the organization’s initiatives for the month.

Connexions, a company providing appraisal management solutions, recently announced the integration of a vendor directory feature within its platform.

Valuation Review concludes its conversation with Jim Amorin, former president and CEO of the Appraisal Institute, who discussed the contents of his new book “The Generative Shift-Preparing Appraisers for Artificial Intelligence Models Like ChatGPT.”

In Part II of our feature, Amorin highlighted some boundaries surrounding this technology.

Read on for the conclusion.

Each year, the average American household spends $2,869 on real-estate property taxes. In order to determine who pays the most relative to their state, the personal-finance website WalletHub recently released its “Property Taxes by State in 2024” report.

In STRATMOR Group’s February Insights report, Senior Advisor Sue Woodard compared the miscommunication often seen between mortgage lenders and their technology partners to couples in need of marriage counseling.

Valuation Review continues its conversation with Bryan Lockard, executive managing director and head of healthcare and alternative real estate at JLL Value and Risk Advisory.

In Part II of this feature, Lockard shares more factors from the JLL 2024 Seniors Housing report.

Read on for the conclusion to this special feature.

The CoreLogic S&P Dow Jones Indices recently released the latest results for December 2023.

It showed a 5.5 percent annual gain in December, up from the previous month. 

Read on for more statistics from this report. 

Intercontinental Exchange, Inc., recently reported its “first look” at January’s 2024 month-end mortgage performance statistics.

The information was derived from its loan-level database representing the majority of the national mortgage market.

Read on to learn more.

The Federal Housing Administration (FHA) recently announced a new loss mitigation home retention option for borrowers with FHA-insured single family forward mortgages who are behind on their mortgage payments.