National AMC Class Valuation has been acquired by a Connecticut-based investment firm, and says it will use the firm’s investment experience to remain at the forefront of home valuation including for reverse mortgages.
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 […]
Although the federal government has allowed certain forms of relief for property appraisers during the COVID-19 coronavirus pandemic, the possibility of a second appraisal of a prospective reverse mortgage property remains a distinct possibility in a minority of cases during these unusual times. This is on top of some of the confusion that has been […]
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 […]
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 […]
The emergence of new, proprietary offerings in the reverse mortgage market has been seen by originators and business observers as a general boon to the larger industry. Certain firms recently shared with RMD that, in the case of proprietary “jumbo” loans that are outside the purview of Federal Housing Administration (FHA) oversight, they’ve seen a […]