Appraisal Services Technology Enhanced
Several mortgage service providers that offer appraisal technology have recently announced enhancements that are designed to help residential lenders increase efficiency, maintain compliance and meet new government mortgage requirements.
Fannie Enabling Appraisal Sharing
Next month, Fannie Mae is updating its Collateral Underwriter. Among the changes will be a new appraisal-sharing functionality for aggregators.
Proposal Would Have Borrowers Order Appraisals
A proposal to make residential real estate appraisals portable would have prospective mortgage borrowers ordering appraisals directly from appraisal management companies.
Case for Making Appraisals Portable
In the current home finance process, appraisals are ordered by the lender and eventually make their way to the home buyer. But one proposal would shift the reins in the appraisal ordering process to the prospective borrower.
Appraisal Services Integrated With EAD
Several firms have integrated their appraisal offerings into the electronic portal for government-insured mortgages. Other advancements were announced by appraisal management companies.
Mortgage Banker on Trial for $30 Million in Fraud
A federal prosecutor delivered his opening statement to a New York jury in a criminal case alleging $30 million in secondary and mortgage fraud.
UCDP Update Enables Appraisal Sharing
Changes to the data portal used by Fannie Mae and Freddie Mac will enable the sharing of appraisal reports among aggregators.
AMCs Enhance Appraisal Services
Several appraisal management companies have announced enhancements and integrations intended to help home lenders improve compliance and cut costs.
Appraisal Fraud Warning on Reverse Mortgages
A warning has been issued about the use of fraudulent appraisals on the refinance of government-insured reverse mortgages.
Appraisal Fees Lead to Multi-State Settlement
Prospect Mortgage LLC has agreed to a settlement with state mortgage regulators. At issue are fees charged to borrowers by an appraisal affiliate.