Appraisals and Valuations

Property appraisals were a significant pain point for lenders and borrowers in the pandemic years, attracting the attention of regulators and agencies who sought to make valuations faster and more efficient. Even as rising mortgage rates cooled the pace of home sales and refinances starting in 2022, appraisal modernization efforts picked up steam. In 2023, Fannie Mae updated its Selling Guide to include more options for valuations, including value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals. Today, lenders are relying on technology more than ever before to deliver accurate, timely valuations.

Another area of continued focus is appraisal bias. In 2022, the Biden administration formed the PAVE task force, made up of 13 federal agencies and offices, to combat appraisal bias. Led by HUD, the task force created an action plan the agencies could pursue through administrative action, rather than legislation, and released analysis of its appraisal data. Today the regulators and agencies in the task force continue to pursue a more equitable valuation process.

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Featured Webinars

Latest Shifts in the Spring Housing Market 

Hosted by Altos Research

The market has been heating back up, but rising mortgage rates have spooked some buyers. What signals can we see in the data for the housing market this spring? Join us March 21st for a free webinar with Altos President Mike Simonsen, who’ll look at the recent signals for the market’s trajectory, give an update […]

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Navigating new norms: Outsourcing as a catalyst for mortgage service excellence 

May 17, 2024Published by AIS

As the mortgage sector navigates through complex market dynamics, the primary objectives for many organizations remain the same: master cost efficiency, ensure the delivery of high-quality service, and effectively scale operations. Outsourcing activities to specialized providers continues to be a primary strategy for achieving such goals. This white paper discusses how lenders and servicers can:

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