Traditionally, closing on a mortgage or home equity loan requires coordinating a lot of people, paperwork and signatures to happen at the same time and place. For both borrowers and lenders, this can be a source of frustration. Typically, the average time to close a home loan is approximately 50 days and involves disparate technologies, people and processes – creating an environment prone to error. While many mortgage lenders still depend on the old way of doing things, leading mortgage and home equity lenders are striving toward a more cohesive digital mortgage platform that integrates apprai ..read more

Tune in to August 23, 2023 Episode: Appraisals in Crisis? 6 Insights to Turn the Tide and Thrive Don’t miss this inspiring episode where Michele Golden, Accurate Group’s Chief Appraiser, explores the evolving landscape of ethics in appraisals and why appraisers should embrace change, seize opportunities, and be the catalyst for transformation in the appraisal industry.   Need Help Implementing Appraisal Modernization? Accurate Group’s appraisal modernization and property data collection suite, powered by its proven flagship technology products, ValueNet and GroundWorks, meet th ..read more

Traditional Appraisals No Longer the Industry Standard Traditional appraisals are no longer considered the default home valuation option, according to the updated Fannie Mae selling guide released March 1, 2023. The speed, accuracy and transparency servicers can achieve from digital mortgage and appraisal management technology has become a must-have. Tech-savvy lenders, originators and service providers are leveraging digital mortgage technologies to speed up loan turn times, enable faster property data collection, eliminate administrative overhead and deliver more accurate results. The pandem ..read more

We spent three amazing days at this year’s CBA LIVE in Las Vegas discussing “What’s NEXT” in challenges, trends and innovations impacting home equity lending. Two of the most complex issues examined during the conference facing home equity lenders today are appraisal bias and fraud protection. Helping to Mitigate Appraisal Bias Concerns of how to appropriately combat appraisal bias are growing among mortgage and home equity lenders – especially in the wake of the recent PAVE Action plan that outlines a series of industry regulations to ensure discrimination does not happen during the appraisal ..read more

As real estate lenders begin to embrace desktop appraisal technology as a new industry standard for a wider variety of loans, many lenders have questions. In this blog, we answer the ten most common questions we receive about desktop appraisals and outline how you can leverage desktop appraisal technology to process a higher volume of loans, reduce overhead costs, expand product offerings, and gain a competitive advantage. What form does an appraiser use to complete a desktop appraisal? Lenders must use a Fannie Mae 1004 (desktop) or Freddie Mac 70D form to complete desktop appraisals. It’s wo ..read more

Higher mortgage rates, record levels of home price appreciation, constrained housing inventories and economic inflation have lenders and borrowers on edge this year. Fannie Mae recently found consensus opinion among mortgage executives that both purchase origination and refinance activity will decline. In addition, Fannie Mae’s December 2022 report offered insights into the mortgage industry forecast for 2023, including: “housing [will] continue to slow, even though mortgage rates have come down recently. Home purchases remain unaffordable for many due to the rapid rise in rates over the last ..read more

Friday, May 20 at 12pm CT   We Need Long-Term Solutions, Including Adoption of Tech for Appraiser Shortages   The GSE approval of appraisal waivers last year helped during a demanding market but it only solves one part of the overall problem. Join Accurate Group’s Frank Guarnera, M&T Bank’s Mike McClintock and HousingWire for a Lunch & Learn that navigates how the appraisal industry is ready for innovation and the next generation of appraisers. Registration is complimentary and if you can’t make the date, HousingWire will provide the Lunch & Learn on demand! The post Hou ..read more

May 19, 2022 – 2 pm ET Complimentary Webinar   Join Tony Pistilli, Chief Appraiser & Director of Valuation Operations, this Thursday for our complimentary webinar Desktop Appraisals – Yes, No, Maybe? where he’ll give an in-depth examination on the many advantages in completing desktops. During our 1-hour webinar, Tony will cover helpful tips to avoid pitfalls in completing desktops, the types of desktop products you may want to consider to expand your business, and more! Confidently accepting 3rd party inspection information What does USPAP say about desktop appraisals Determini ..read more

Industry leaders gathered recently at the 13th annual CBA LIVE for three days of discussion on challenges, trends and innovations impacting home equity lending. With home values continuing to skyrocket, modernization continues to be key in gaining market share. Below we highlight three important takeaways from this year’s conference that we expect to make an impact on the real estate and home equity lending industry in 2022. 1.    Embrace appraisal modernization to gain a competitive advantage. Tech-savvy lenders have implemented appraisal modernization for compliant, consistent ..read more