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The CFPB and the wait for customary and reasonable
Posted Date: Tuesday, October 21, 2014
When Congress established the Consumer Financial Protection Bureau in 2010 through the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, it signaled the arrival of a new sheriff in Washington to help clean up problems in the financial services industry exposed by the Great Recession. Unfortunately for appraisers, the CFPB has been mum on the issue of customary and reasonable fees to this point. Keep reading to see what industry experts had to say about the CFPB and the wait for customary and reasonable.
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Fannie answers questions on new appraiser requirements — Part Two
Posted Date: Wednesday, October 1, 2014
Fannie Mae has released a Q&A to help provide answers to common appraisal and property questions regarding Fannie’s policies. The Q&A included questions stemming from its latest revisions to its Selling Guide, which were published April 15. Keep reading for the inside scoop on Fannie’s latest updates.
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Protecting yourself in the field
Posted Date: Monday, October 13, 2014
The issue of staying safe out in the field is back in the news following the murder of Arkansas real estate agent Beverly Carter last month. By the nature of the job, appraisers open themselves up to vulnerabilities whenever they walk onto a stranger’s property and face the unknown. Keep reading for tips on how to protect yourself while on the job.
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Appraisers speak out against county’s chief appraiser
Posted Date: Thursday, October 9, 2014
A pair of appraisers have come out against their former boss, alleging that the district’s chief appraiser was verbally abusive during their stints as deputy chief appraiser under the 19-year veteran.
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Home features vary by region
Posted Date: Tuesday, October 21, 2014
A recent study revealed significant regional differences in new single-family home characteristics, ranging from price, design features, building materials and even financing. Keep reading to see how housing preferences vary throughout the country.
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Buffett predicts the future
Posted Date: Thursday, October 9, 2014
If you look hard enough, you could probably find a new housing forecast every day of the year. But when a man who’s made billions forecasting the future of global markets talks, you tend to put a little more weight into it. Keep reading to see what Warren Buffett had to say about the future of the economy and housing market.
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Case of appraisers’ conflicting cost approach values goes to court
Posted Date: Wednesday, October 15, 2014
A homeowner who disagreed with the real market value placed upon his newly built home by the county had his day in court when both the plaintiff’s appraisal and the county’s appraisal were called into question. Keep reading to see whose opinion won out.
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Defunct AMC to stand trial for conspiring to inflate appraisals
Posted Date: Tuesday, October 7, 2014
A nationwide class action filed in 2008 against an appraisal management company accused of inflating values in the run up to the financial crisis finally is set to move forward. Keep reading to see which AMC and lender allegedly conspired to boost appraisal values to pad their own bottom lines.
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Free appraisal review tool for appraisers hits the market
Posted Date: Wednesday, October 1, 2014
A provider of collateral valuation and risk assessment technologies has launched the first cost-free automated appraisal quality technology designed specifically for residential real estate appraisers to help ensure appraisal reports are error free. Keep reading about the new website that allows appraisers to check for report errors in less than a minute.
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Foreclosure nightmare is a reoccurring one for some homeowners
Posted Date: Tuesday, October 21, 2014
Thousands of Americans who hoped to leave the foreclosure crisis of the Great Recession in the rearview mirror are getting an unwanted reminder of the economic downturn in the form of present-day debt collection notices. Keep reading for the details.
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Appraisal scoring tool wins award for innovation
Posted Date: Tuesday, October 21, 2014
A provider of collateral valuation services and predictive analytics has been awarded the 2014 Mortgage Technology “Transforming Valuations” Award for its game-changing appraisal scoring tool. Keep reading to see which company was recognized for its innovative product.
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Appraisal veteran added to AMC executive team
Posted Date: Tuesday, October 21, 2014
An end-to-end servicing and default solutions provider for mortgage lenders and servicers announced the addition of an appraisal industry veteran to its national sales executive team Oct. 16. Keep reading to learn about the new hire.
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Company announces distributorship for Freddie valuation tools
Posted Date: Tuesday, October 21, 2014
A provider of title insurance, settlement services and risk solutions for real estate transactions announced it is now a distributor of Freddie Mac’s Home Value Suite. The Home Value Suite is a defined set of valuation modeling tools that automate, streamline and drive down the cost of collateral valuation in the housing market. Keep reading for the details.
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Consumer attitudes rebound in latest Fannie survey
Posted Date: Tuesday, October 21, 2014
Following a recent dip in consumer housing optimism, most indicators have rebounded, according to results from Fannie Mae’s September 2014 National Housing Survey. Keep reading to see what led Fannie’s chief economist to say that a “broad-based, albeit measured, housing recovery is on track to resume in 2015.”
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Industry regulations having ‘significant’ impact, lenders say
Posted Date: Wednesday, October 15, 2014
The mortgage industry crackdown brought on by an influx of federal regulations over the past several years hasn’t gone unnoticed by the nation’s lenders, with an overwhelming majority now saying the impact has been “significant.” Keep reading to see the trickle-down effect of mortgage regulation.
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New software aimed at helping on-the-go appraisers
Posted Date: Wednesday, October 15, 2014
A software provider for the appraisal industry just announced the launch of an application that arms appraisers with instant access to information and communication capabilities that facilitates greater productivity in the field. Continue reading to learn about the new product.
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Freddie Mac to back small multifamily loans
Posted Date: Wednesday, October 15, 2014
Freddie Mac Multifamily announced a new initiative to purchase and securitize small multifamily loans. The initiative is the company’s newest nationwide effort to support affordable rental housing and provide the underserved small rental property borrower with access to long-term debt capital. Keep reading for the details.
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VA recommits to Fannie Mae 1004MC
Posted Date: Monday, October 13, 2014
The Department of Veterans Affairs announced last month that it is recommitting to Fannie Mae Form 1004MC. Keep reading for the details.
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Appraisers talk turn times
Posted Date: Monday, October 13, 2014
This summer, Valuation Review polled more than 1,500 appraisal industry professionals as part of our 2014 Voice of the Appraiser annual survey, which is designed to capture the mindset of the modern property appraiser. One issue appraisers expressed their concern about in this year’s survey was turn-time requirements. Keep reading to see what appraisers had to say about today’s deadlines.
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AMC names new VP
Posted Date: Monday, October 13, 2014
An independent nationwide appraisal management company announced Oct. 9 that it has hired a new vice president of sales and marketing to help enhance its client partnerships. Keep reading to learn about the new hire.
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Lending standards subduing housing demand
Posted Date: Monday, October 13, 2014
Tight mortgage lending standards are continuing to stifle the housing recovery, especially for first-time buyers, a new survey showed. Keep reading for the details.
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ClosingCorp names chief technology officer
Posted Date: Monday, October 13, 2014
ClosingCorp, a provider of residential real estate closing cost data and technology for mortgage lenders, title and settlement companies and real estate professionals, announced the appointment of a new chief technology officer. Keep reading to learn about the industry veteran joining the company.
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Appraisers weigh in on fees
Posted Date: Thursday, October 9, 2014
Appraisers across the country weighed in on our 2014 Voice of the Appraiser survey to talk about the fees they’re generating and how they feel about it. Keep reading to see what the industry had to say about what’s getting paid.
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New review tool scores appraisals, BPOs
Posted Date: Thursday, October 9, 2014
A new automated appraisal review and collateral evaluation tool developed to support collateral risk assessment and address today’s compliance requirements has hit the market. Continue reading to learn about the new appraisal review product hitting the market.
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Firm hires new director of compliance solutions
Posted Date: Thursday, October 9, 2014
A New York-based mortgage risk management firm announced it has hired a new director of compliance solutions. The new hire will be tasked with furthering the company’s initiatives to help offer a complete range of mortgage-related compliant solutions and consultative guidance to the mortgage industry.
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Where is appraisal work coming from in 2014?
Posted Date: Tuesday, October 7, 2014
This summer, Valuation Review polled more than 1,500 appraisal industry professionals as part of our 2014 Voice of the Appraiser annual survey, which is designed to capture the mindset of the modern property appraiser. Keep reading to see what kinds of assignments were most popular among appraisers, and what appraisers said were the best ways to market their services in this year’s survey.
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Luxury bathrooms ain’t what they used to be
Posted Date: Tuesday, October 7, 2014
A new study shows that housing trends have shifted over the last six years, and some features that once were staples of luxury have been replaced by new preferences. Keep reading to see which features you can expect to start seeing a lot more of.
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Company announces arrival into appraisal space through acquisition
Posted Date: Tuesday, October 7, 2014
There will be a new player in the valuation space after a company announced it has broadened its client offerings to include appraisals, Broker Price Opinions and other valuation-related products through an acquisition. Keep reading to learn about the new kid on the block in the appraisal space.
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Appraisal software provider gets financial backing from industry participant
Posted Date: Tuesday, October 7, 2014
A provider of advanced database and report production software for real estate appraisers announced it has received a significant capital boost from a one of the nation’s largest appraisal and advisory services firms. Keep reading to hear about what the investment means for the industry.
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New publisher named for FHA single-family policies
Posted Date: Tuesday, October 7, 2014
A newly acquired information provider for the mortgage industry has been named the official publisher for FHA single-family policies. Keep reading to see what this means for industry participants.
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Maryland appraisers: License and registration, please
Posted Date: Wednesday, October 1, 2014
If you network with real estate agents in Maryland, be ready to provide your license for the agent to verify before they recommend your services. Read on to find out how a recent regulation adopted by the Maryland Real Estate Commission affects you.
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Appraisal company names new VP
Posted Date: Wednesday, October 1, 2014
The largest independent provider of residential real estate appraisals in the United States announced Sept. 30 that the company has named a new vice president of business development. Keep reading to learn about the new hire being charged with strengthening the company’s appraisal foothold.
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Fannie answers questions on new appraiser requirements
Posted Date: Wednesday, September 24, 2014
Fannie Mae has released a Q&A to help provide answers to common appraisal and property questions regarding Fannie’s policies. The Q&A included questions stemming from its latest revisions to its Selling Guide, which were published April 15. Keep reading for the inside scoop on Fannie’s latest updates.
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Lender, appraisal company reach settlement for alleged discrimination
Posted Date: Wednesday, September 24, 2014
A lender, its subsidiary appraisal company and one of the bank’s loan officers have reached an agreement with the U.S. Department of Housing and Urban Development over alleged discrimination stemming from the parties’ refusal to refinance the mortgage of a Native American couple.
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Detroit set to undergo first reappraisal in more than 50 years
Posted Date: Wednesday, September 24, 2014
The city of Detroit is set to undergo its first reappraisal of real property in more than 50 years to help place more accurate values on the city’s properties in the wake of widespread economic hardship in the Motor City. Keep reading to see what will be involved in the city-wide assessment.
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Company receives first MISMO certification for compliance
Posted Date: Wednesday, September 24, 2014
A provider of Web-based services for secure, paperless document distribution for the real estate industry announced that it has been awarded MISMO’s first Premiere Level certification for its compliance with new industry standards. Keep reading to see why MISMO applauded the company’s focus on facilitating more compliant closings.
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Valuation services provider releases new hybrid valuation report
Posted Date: Wednesday, September 24, 2014
A Chicago-based national valuation services provider announced the launch of its new USPAP-compliant hybrid valuation report for a variety of programs such as HELOCs, REOs, as well as purchases and refinances for non-agency and portfolio programs. Keep reading to learn about the new offering.
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