Appraisals

Positive feedback from participants in existing programs led to the decision to expand them in order to assist more lenders.

The interagency Property Appraisal and Valuation Equity initiative, which was tasked by the Biden administration with rooting out bias in home valuations, appears to have run its course. But experts say it could be years before the group's efforts bear fruit.

The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.

The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.

A Connecticut-based couple sued the bank and Cavanaugh Appraisals, LLC for denying them a refinance in 2021 because of racial bias.

The researchers found that the disparities that emerged from the analysis of 1.8 million appraisals from 2019 and 2020 were statistically significant.

The Federal Housing Finance Agency found several comments that could lead to fair lending concerns in the “neighborhood description” section of reports.

The agency's request for input will shape how mortgages underwritten by Fannie Mae and Freddie Mac handle appraisals and curb risk.

More defaults will lead to an increase in distressed sales, and that will drive down prices, CoreLogic said.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.