Appraisals

HUD Deputy Secretary Brian Montgomery questioned "whether we could ever totally accept desktop-only appraisals" at the Mortgage Bankers Association conference this week.

Diversity initiatives for home appraisers would cut down the racism and bias within the valuation process.

More defaults will lead to an increase in distressed sales, and that will drive down prices, CoreLogic said.

Remote, homeowner-assisted appraisals used amid the coronavirus could be a useful tool post-pandemic, in limited circumstances.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.

From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers' ability to get new loans, here are five examples of mortgage requirements that have been in flux since the coronavirus outbreak in the United States.

With inventory tight and demand compounded by a nonexistent spring home-buying season, a fifth of all buyers waived inspection or appraisal contingencies to win bidding wars, according to Redfin.

Other moves it is undertaking include business divestitures and increased dividends while defending against a takeover attempt.

After taking a deep dive in March and April due to the pandemic, housing sales throughout the Twin Cities rebounded in May, coming back strong to even make up lost ground.

The South Florida housing market is experiencing its highest overvaluation in eight years. Still, a housing crisis is unlikely, one expert said.

Borrowers gained over $6 trillion in home equity since the Great Recession ended and the relative health of the housing market should stave off a coronavirus-induced collapse, according to CoreLogic.

The measures extended by the Federal Housing Finance Agency include alternative methods used for certain appraisals and for verification of employment.

A $740 million jury verdict against Amrock was thrown out by a Texas appeals court that said tech firm HouseCanary failed to prove the big title insurer stole its trade secrets to build a competing real estate analysis tool.

The social distancing related limitations on home appraisals is inspiring some companies to find new ways to advance the process.

After over two years of falling delinquency rates, the burgeoning unemployment following the coronavirus economic shutdown will bring a surge of outstanding mortgages.

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.

Net income grew by nearly 1,990% year-over-year as its core mortgage services businesses gained scale.

The National Credit Union Administration is giving lenders and borrowers extra time to complete appraisals to ensure mortgages are still being completed despite the pandemic.