Valuations

How to manage appraisal expectations on reverse mortgages

As gap between values and expectations widens, HECM experts share tips on navigating this tricky process
Any time a homebuyer seeks an appraisal as part of obtaining a mortgage, there's a good chance expectations won't align with the appraiser's verdict on value. For older homeowners seeking a reverse mortgage, this can be especially challenging, as a lower-than-expected value could preclude the borrower from securing the loan. How can HECM LOs best prepare borrowers ahead of an appraisal to avoid disappointment? Experts weigh in.
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Consolidated Analytics grows offerings by acquiring Carrington Property Services

Adds provider of REO asset management, rental management, valuation services
Consolidated Analytics, a provider of property valuation, loan due diligence, mortgage fulfillment, and advisory services for the real estate finance industry, announced Monday that it acquired Carrington Property Services, a provider of third-party REO asset management, rental management, and valuation services.
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Introducing Pulse, HW's new column for industry thought leaders

Where you can hear directly from the most influential voices in housing
Ever since HousingWire launched more than a decade ago, our objective has been to keep Moving Markets Forward. And we thought, what better way to do that than to create a platform where the housing industry’s best and brightest share their ideas on issues affecting the market? And so, we’d like to introduce you to Pulse, an invitation-only column penned by industry thought leaders. No noise. Just expertise.
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Zillow awards $1 million prize for making Zestimates more accurate

Claims contest winners’ algorithm improves Zestimate accuracy
The Zestimate that appears on every listing on Zillow is about to get a little closer to the expected sales price of a house, and all the online real estate giant had to do is give away more than $1 million. But Zillow is hardly chalking this exercise up as a loss. Just the opposite, in fact.
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Appraisal profession sees major uptick in Millennial interest

Is this aging workforce about to see a surge of newcomers?
For the past several years, the appraisal profession has battled the fact that a significant percentage of its workforce is aging. And as a greater number of appraisers approach retirement age, fewer newcomers are jumping in, meaning that their ranks are dwindling, and fast. But according to a new survey, this might be about to change.
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Class Valuation names John Dingeman chief appraiser

National Association of Appraisers president joins AMC
Michigan-based appraisal management company Class Valuation has named John Dingeman chief appraiser. As such, Dingeman will be responsible for overseeing quality control, underwriting support and the Appraiser Resource Center.
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Veros predicts home price growth will weaken in 2019

Housing supply and interest rates play a role
The latest VeroFORECAST from valuations provider Veros Real Estate Solutions predicts an average appreciation of 3.9% over the next year in the 100 most populous markets surveyed – down from the 4.5% predicted last quarter as the company foresees "a definite slowing down of most markets."
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Appraisal tech startup Reggora raises $3 million in seed funding

Claims it can “streamline the appraisal process”
Reggora, a Boston-based startup that claims its software can “streamline the appraisal process,” now has $3 million in its coffers to help grow it business. According to the company, its software “condenses and streamlines appraisals by automating traditionally manual processes such as finding appraisers, scheduling appraisal inspections and reviewing the final appraisal product.”
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