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The home inspection process: Should you skip it?

Housing Wire

People often confuse the home appraisal with the home inspection. Appraisals are estimates of a home’s value — and they’re typically required before you can close on your mortgage loan. Inspections, on the other hand, are designed to assess the condition of the home, and they’re 100% optional for the buyer.

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FHA reiterates loss-mitigation options as Helene devastation continues

Housing Wire

handbook, including inspection and repair escrow environments for loans that have yet to close. Properties in PDMDAs which have pending loans or endorsements, and which have been designated for individual assistance, must have “a damage inspection report that identifies and quantifies any dwelling damage.”

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ICE unveils two new property valuation solutions

Housing Wire

Regulators are paying close attention to valuations for many valid reasons. Valuation Selector helps lenders and investors identify the most suitable valuation method (AVM, AVM with inspection, desktop exterior, desktop interior or full appraisal) for a property, depending on its complexity.

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Agent commissions are being negotiated more often, but it’s a ‘tale of two markets’

Housing Wire

The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. Almost a month after the rules went into effect, that appears to be happening.

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Why is now the time for lenders to modernize their appraisal processes

Housing Wire

Providing appraisers with more product options designed to increase efficiency helps to create more capacity, which will become essential when volumes increase again. Tasks like scheduling, property inspection and driving comps adds a great deal of time to the process. HW: How can appraisal modernization enhance the valuation process?

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A loan officer’s ultimate guide to appraisal modernization

Housing Wire

The solutions, ACE+ PDR (automated collateral evaluation plus property data report) by Freddie Mac and Value Acceptance + Property Data by Fannie Mae, were designed to increase efficiencies for all stakeholders and lower costs in comparison to traditional appraisals, while maintaining the high risk mitigation standards employed by the GSEs.

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Fannie Mae approves six vendors for controversial new valuation initiative

Housing Wire

.” In a statement Friday, Accurate Group said it has completed more than three million property data inspections and hybrid appraisals through its ValueNet suite of products. Our appraisal, property inspection, title and closing technologies are designed to plug into any digital platform.”

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