If lenders shift from traditional appraisals to automated valuation models, there could be an im-pact on loan-to-value ratios and loan balances for new originations, according to CoreLogic. The firm found that traditional appraisals done when a mortgage is originated are less likely than AVMs to reach a value below the contract price.
If Montgomery garners final approval, HUD Secretary Ben Carson will begin tackling key issues, including finalizing new condominium rules, dealing with reverse mortgage losses and more…