Appraisals

The continued home price spike also drove the negative equity share to an all-time low, according to CoreLogic.

At the metro level, Buffalo, N.Y., had the worst undervaluation for Black-owned homes at 86% followed by 72% in both Memphis, Tenn., and Indianapolis, Redfin found.

These trends, in addition to the increase in appraisal contingency waivers, could add risk to mortgage lender businesses.

After its three acquisitions since last August, the Philadelphia area-based credit data firm predicts more industry consolidation is on the way.

The agreement calls for the bank to pay $50,000 to an unnamed consumer and requires its staff to undergo fair lending training as it relates to appraisals.

With extreme winter weather about to give way to ballooning insurance and mortgage forbearance claims in Texas, servicers will need to get through their pipelines with urgency while weeding out fraud.

The organization postponed the issuance of its next set of revisions, which would have gone into effect at the start of 2022.

The shrinking ranks of appraisers, combined with the record number of loan applications in 2020, created "the perfect storm between supply and demand," which inspired the new payment plan, Incenter's Mark Walser said.

With the shift to a low-rate environment dominated by no cash-out refinancing, use of an alternative to traditional valuations has soared.

The acquisition brings the credit report provider into the commercial and residential appraisal technology space.