TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1490083
64 | TH E M R EP O RT FINAL THOUGHTS Bridging the Appraisal Gap "racial undervaluation" Jonathan Liles, Senior Financial Analyst for the FHFA, details references to race in appraisals and the importance of appraisals in the discussion of wealth inequality. "lack of visibility" Mike Seminari, Director of Customer Experience, STRATMOR Group, on the inefficiency and overall lack of control that is often associated with the appraisal process. "strengthening equality" National Urban League President and CEO Marc H. Morial discusses racial discrimination in the home appraisal industry and how it is a significant barrier to economic equity. "encouraging hybrid appraisals" Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association, on the enactment of the MBA-endorsed legislation that will help streamline the home buying process for veterans and their families by requiring the VA to update its home appraisal rules and program guidelines. "drawing conclusions" Justin Contat, FHFA Senior Economist, discusses how the new aggregate statistics collection is being used to establish better understanding about fair lending, appraisal values, and sizes of homes.