Adam Constantine on MLK Jr.’s impact on housing equality

During the interview, Constantine explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives.

Navigating capacity concerns amidst record-high volumes

High loan volumes continues to loom large in the new year, making the “one-stop-shop” approach to the servicing and lending process even more appealing.

Amid record-high origination volumes, mortgage fraud risk is down

CoreLogic's recently released Mortgage Fraud Report is the industry standard for nationwide fraud monitoring and analysis. Read the findings here.

How student loan debt impact homeownership

Student loan expert Catalina Kaiyoorawongs shares her practical and tangible advice for people who feel overwhelmed by their student loan debt.

Politics & Money

Appraisal Institute names Rodman Schley president

Schley's appointment comes amid a time of great uncertainty for the profession

Rodman Schley was selected to become the next president of the Appraisal Institute (AI) beginning Jan. 1, succeeding appraiser Jefferson Sherman, according to the trade organization.

Schley, a senior managing director at BBG in Colorado, served as vice president of the trade group in 2019. He has served on the Appraisal Institute’s board of directors, the strategic planning committee, the governance structure project team and the national nominating committee. He has also served as president of the group’s Colorado chapter.

Schley will lead the national nominating committee in 2022 as well, the company said. In 2002, he founded Commercial Valuation Consultants, Inc., which was acquired by BBG.

Appraisal Institute’s other elected officials for 2021 are President-elect pledger Jody Bishop, Vice President Craig Steinley, and Immediate Past President Jefferson Sherman.

WFG reports its highest volume months ever during Q2 and Q3 of 2020

As the company celebrates its 10th anniversary, WFG continues to look for new ways to serve its clients, consumers and industry.

Presented by: WFG

Bishop serves nationally on the AI’s board of directors and was previously on the audit committee. Steinley also serves on the board of directors as a regional vice chair, and Sherman has served on the finance committee, nominating committee, education committee, international relations committee and strategic planning committee.

It’s a particularly uncertain time for appraisers, who have traditionally physically walked through homes to make their assessments, and are often leery of automation.

Due to the effects of COVID-19, mortgage giants Fannie Mae and Freddie Mac have significantly relaxed appraisal standards. The Federal Housing Finance Agency earlier this year directed the GSEs to begin using both drive-by appraisals and desktop appraisals in certain circumstances to avoid logjams in the mortgage process.

Last week, the FHFA announced a potential move toward hybrid appraisals that allow for a third-party – typically an appraiser trainee, home inspector or real estate agent – to collect the data for a lender and certified appraiser once past the automated underwriting system.

Though appraisers are accustomed to the highs and lows of the mortgage industry, some have struggled with record demands in 2020 and the constraints of coronavirus. Many of the nation’s top lenders have granted appraisal waivers to more than 50% of their borrowers seeking to refinance their mortgages.

Leave a comment

Most Popular Articles

Prepare for the rise in mortgage rates

Economists offer their takes on how high mortgage rates will climb, how lenders will respond and what impact this will have on the housing market. HW+ Premium Content

Jan 18, 2021 By

Latest Articles

2020 ends with 3.4 million loans in delinquency

The final delinquency tally for December is in, with data revealing that by end of 2020, 1.54 million more mortgages were reported delinquent.

Jan 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please