I had a great conversation with Brian Zitin, CEO at Reggora, for our latestHousing News podcast. We discussed what's happening with hybrid valuations and what the valuation space might look like after a year of doing a lot of things differently.
As Zitin notes, the volume of appraisals combined with the pandemic brought things to a head over the last year, and appraisal waivers and other flexibilities became a pressure relief valve to keep the home-buying process moving along.
In December theFHFA announced a Request for Input on hybrid appraisals, updating the UAD and the increased use of appraisal waivers. I asked Zitin if he thought hybrid appraisals were going to be a permanent part of the appraisal landscape.
"It seems like it's inevitable because any of the changes that have been rolling out have not addressed the problem in the industry, which is the lack of appraisers joining the market. So, unless there is something introduced, whether it's some of the things that are mentioned in this RFI or more embracing of trainee appraisers, there is going to continue to be more and more of a capacity problem, which affects the liquidity of the market and accessibility of financing for folks," said Zitin.
In today's HousingWire Daily episode, HW+ Managing Editor Brena Nath and Editor in Chief Sarah Wheeler discuss the latest Real Trends 500 list, which ranks the largest real estate brokerage firms in the country by transaction sides and sales volume.
Automatically order settlement services based on your lending guidelines with technology identifying key loan attributes: Loan Amount, FICO, and LTV. Reduce your time to close, fulfillment costs and increase your team's efficiency. See this ONE solution in action.
To accommodate the large volume of loans still in forbearance, mortgage servicers must have functional, flexible and effective forbearance processes in place. Here are some actionable steps to create that process. Presented by FICS.
The need for process automation is great, not just to provide more satisfying mortgage experiences but also to significantly increase productivity, reduce operational costs and minimize the impact of human error. Read More.
Sponsor Content
HousingWire, 433 East Las Colinas Blvd., Suite 830, Irving, TX 75039, (469) 893-1480
EmoticonEmoticon