New Fannie Mae and Freddie Mac Guidelines on Market-Level Analyes: What Appraisers Need to Know The real estate appraisal industry is facing a significant shift with the latest updates to Fannie Mae and Freddie Mac’s selling and servicing guidelines. These changes, which went into effect earlier this month, aim to create greater consistency and standardization […]
Five Questions to Ask Your AMC Provider About Appraisal Bias Appraisal bias is a significant concern for lenders, borrowers and regulators. Ensuring that your Appraisal Management Company (AMC) has robust processes in place to prevent bias is critical. Here are five essential questions to guide your discussions with potential AMC providers, helping you understand how
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A Recap of the 2024 Valuation Expo Last month, our CEO Ashley Jelinek, attended the Valuation Expo Conference in Las Vegas along with more than 500 other appraisers, lenders, AMCs and valuation professionals. Recently we sat down with her to get her take on the event. Q: To start off, what was your overall impression
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Home Appraisal Price-Gap Analysis Shows That Home Appraisals Were Higher Than Sale Prices 51% of the Time It’s fairly common for home appraisals to differ from actual sales prices, particularly with recent record home price appreciation seeing home prices skyrocket. Appraised values indicate what a licensed or certified appraiser believes a home is worth, while
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There’s More to Appraisal Management Than Just Ordering by Ashley Jelinek, CEO For decades, lenders have relied on appraisal management companies (AMCs) to compliantly deliver accurate property valuations and to act as a “firewall”, preventing interested parties from exerting pressure on appraisers. The existence of AMCs has enabled lenders to expand their geographic footprints into
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Here’s a quick rundown of some recent legislative updates we’ve been tracking. This month we’re focusing on legislation regarding the appraisal industry. NJ Senate Approves Penalties for Discriminatory Appraisals New Jersey Senate lawmakers recently approved a bill aimed at penalizing real estate appraisers who undervalue homes based on protected characteristics, such as race, sex, or
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Understanding the new Uniform Property Dataset from Fannie Mae & Freddie Mac A Q&A with Sherri Zahtilla, SVP Operations 1. Let’s start with the basics, what is the new Uniform Property Dataset (UPD)? The Uniform Property Dataset, or UPD, is a standardized dataset developed by both Fannie Mae and Freddie Mac that is designed to
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Accelerate Your Mortgage Process With Improved Appraisal Management by Jerome Jelinek, CEO and President. December 17, 2023 Effective appraisal management is crucial for mortgage lenders looking to optimize and accelerate their mortgage processes. By streamlining appraisal workflows and focusing on technology-driven solutions, lenders can ensure borrower satisfaction, faster turnaround times, improved accuracy, and compliance with
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Fannie Mae’s Value Acceptance + Property Data Overview You’ve heard of this program, but you may not have had time to look into the details. This article is intended to provide you with a quick overview and connect you with the resources for a deeper dive: 1. What Is the Program?2. Which Loans Are Eligible?3.
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How lenders can combat appraisal bias by Ashley Jelinek, Chief Operating Officer. April, 2023.Appraisal bias represents a significant source of regulatory, legal, and reputational risk to every mortgage lender. Here are the steps lenders can take to ensure their borrowers are getting fair and unbiased appraisals, and to protect themselves from the negative consequences of
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