News By Edition

Valuation Review caught up with Nathan Brannen, chief product officer at Restb.ai, for a closer look at artificial intelligence and the data it will provide appraisers as well as the real estate profession.

Brannen lists the specific advantages forthcoming from this technology.

Read on for details from Part I of this exclusive feature.

Valuation Review sat down a second time with Phillip King, vice president, valuations product management for ServiceLink, for more insight on appraisal modernization.

King outlined how modernization has gone to even greater heights.

Read on for the full conversation.

Valuation Review spoke with Robert Smith, New York University (Schack Institute of Real Estate) adjunct instructor about some specifics of his article “The Application of Appraisal and Finance for Appraisers.”

Income and direct capitalization were two areas Smith touched on.

Read on for more of the conversation.

At the 2023 ASA International Conference in New Orleans, panelists William Tomlinson with Independence Wealth Advisors, Charles Dixon of CD Valuation Services, Louisiana attorney Tyler Arbour with Lugenbuhl, Wheaton, Peck, Rankin & Hubbard, and Jack Beckwith with EAGI outlined some ideas to consider when winding down careers in the presentation “Succession Planning for Appraisers.”

Valuation Review sat in on this session and caught up with Tomlinson and Dixon afterward for more strategies.

Read on to learn more from New Orleans.

Class Valuation, a national appraisal management company, announced the successful acquisition of Valuation Connect, an appraisal management company and subsidiary of Mortgage Connect LP.

Class Valuation leaders explain why they made the strategic acquisition.

Read on for more news about this key acquisition.

Accurate Group, a provider of technology-driven real estate appraisal, title data, analytics, and eClosing solutions, recently announced the acquisition of Voxtur Appraisal Services, LLC, an appraisal management company serving real estate finance providers nationwide.

The acquisition will expand the portfolio of the companies and their breadth of services.

Read on for more details.

The Federal Housing Finance Agency (FHFA) Office of the Inspector General issued an audit report noting the FHFA did not document reviews of desktop appraisal reports.

Colliers/U.S. recently hired a managing director for the South-Central Region, leading the multifamily team. In this role, she will leverage her 14 years of commercial real estate experience to grow the South-Central multifamily team in conjunction with Colliers’ growing national multifamily valuation practice. 

New AEI Housing Center analysis shows that seemingly large differences in the share of under-valuations – appraisals where the appraised value is below the contract price – received by people of color are almost entirely due to differences in geographies where people, regardless of race or ethnicity, reside.

The Massachusetts General Court introduced legislation that would provide consumers with equal protection for all real estate appraisals.

It is being introduced by the Joint Committee on Consumer Protection & Professional Licensure.

Read on for more about this piece of legislation.

Intercontinental Exchange, Inc. recently reported its initial look at September 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. As indicated earlier, mortgage performance has been very strong, but recent data suggests delinquency rates may have hit their floor.

With over 34,000 Americans affected by gun violence this year and the country having experienced $24 billion climate disasters, the personal-finance website WalletHub recently released its report on “2023’ Safest States in America.”

Shortages of affordable housing are a long-standing challenge. High interest rates and low inventory are contributing to this issue, as is the growing number of millennials who are looking for larger homes to raise families, according to the U.S. Government Accountability office.

SingleSource Property Solutions, a provider of property services supporting the housing industry, now offers data collection suites and a proprietary mobile app for the Fannie Mae Value Acceptance + Property Data initiative.

The United States Real Estate Appraisal Market report 2023 features profiles and analysis from Wells Fargo, Voxtur Analytics, Newmark, JPMorgan, Clear Capital, ServiceLink and more.

The report found the real estate evaluation market has seen significant changes in recent years, as technology has become increasingly important in the appraisal process.

Read on to learn more.

The National Association of Realtors (NAR) has appointed an interim CEO. The appointee replaces current CEO Bob Goldberg, who announced his retirement earlier this year. NAR’s newest C-suite executive brings with her leadership and strategy advisory experiences.

The Federal Housing Administration proposed updates to its home equity conversion mortgage (HECMs) assignment eligibility requirements. The changes allow for certain categories of due and payable HECMs previously ineligible for assignment to be assigned to the U.S. Department of Housing and Urban Development and allows servicers to obtain earlier resolution of these loans.

The National Association of Mortgage Brokers (NAMB) encouraged the Federal Housing Administration and the Biden administration to end its Life-of-Loan Premium Policy. NAMB joined the Community Home Lenders of America and The Mortgage Bankers Association in this effort.

Valuation Review concludes its conference coverage from the 2023 ASA International Conference in New Orleans.

We bring you Part II of our conversation with Jason Tillema, an appraiser from Indiana-based Access Valuation, who shared insights from his presentation “Supporting Residential Appraisal Adjustments.”

Read on for the conclusion of this conference feature.

Rental concessions and offers meant to entice tenants are at their highest level in more than two years despite strong renter demand, according to the latest data report from Zillow.

The analysis also shows property managers are now likely competing for tenants, as new, primarily upscale buildings from the recent construction boom enter the rental market.

Read on to learn more.

ASA recently announced its upcoming gems and jewelry appraisal courses, designed for jewelers, gemologists, and allied professionals looking to expand their knowledge or enter the appraisal profession.

CoreLogic recently announced it has launched a new property measuring and sketching tool, ScanToSketch. To date, ScanToSketch, which was developed using CoreLogic’s appraisal software brand, has been used to complete more than 20,000 property sketches and has been featured in over 12,000 appraisal reports.

The Mortgage Bankers Association recently issued a statement regarding the Federal Housing Finance Agency’s announcement of the 2024 multifamily lending purchase caps for Freddie Mac and Fannie Mae.

For the final month of 2023, Valuation Review brings you more advice from Dustin Harris’ (“The Appraiser Coach”) blog, where the industry veteran shares tips on how appraisers can run a business.

He also points out the difference between being a business owner or owning your job.

Read on for more from Harris.

CoreLogic recently released its Home Price Index (HPI) and HPI Forecast for September.

US annual home prices grew at a rate to reflect early gains for 2023.

Read on to learn more.

Property data curator ATTOM released its fourth quarter 2023 Vacant Property and Zombie Foreclosure Report, showing that 1.3 million residential properties in the U.S. are vacant.