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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Appraisal and Valuations News
Financial services firm Consolidated Analytics acquires Real Info
Jan 23, 2024Financial services firm Consolidated Analytics expands its valuation solutions with its latest acquisition.
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FHFA analysis finds racial disparity in appraisers’ use of time adjustments
Jan 17, 2024 -
HUD: Housing has a role to play in combating the opioid epidemic
Dec 08, 2023 -
Clear Capital’s Kenon Chen on appraisal modernization
Nov 30, 2023 -
Ascent Software Group acquires property data collection platform Value Acceptance
Nov 28, 2023 -
Class Valuation’s CIO on solving the appraisal conundrum
Nov 22, 2023 -
Class Valuation acquires AMC Valuation Connect
Nov 15, 2023 -
CoreLogic announces new augmented reality appraisal tool
Nov 09, 2023 -
SingleSource’s new app to support to Fannie Mae’s Value Acceptance + Property Data program
Nov 08, 2023 -
Property taxes have been rising. Here’s what it means for housing
Nov 07, 2023
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