Reverse Mortgage Appraisers: Pandemic Work Can Continue Without Desktop Option

Two weeks ago, the Federal Housing Administration (FHA) announced that in light of the ongoing COVID-19 coronavirus pandemic, appraisal relief will be extended through the end of 2020 which will allow the continued use of an exterior-only option in order to mitigate the spread of the virus. However, a previously-available desktop-only option was allowed to […]

Class Valuation Launches Borrower App to Show Home Interior During Alternative Appraisals

In light of the Federal Housing Administration’s recent shift to allowing desktop and “drive-by” appraisals for FHA-insured mortgages during the coronavirus crisis, national appraisal management company Class Valuation is launching an app to aid both borrowers and appraisers. The app, INvision YourHome™, is a mobile-based platform that allows homeowners to share interior photos and property […]

New Data Reveals Slight Increase in Second Appraisal Cases

A new analysis of second appraisals on Home Equity Conversion Mortgage (HECM) transactions under the new collateral risk assessment rule reveals that the overall frequency has jumped 5 percentage points to 26 percent from October 2018 to February 2019. This is according to data presented by valuation professionals at the National Reverse Mortgage Lenders Association […]