Items Tagged with 'Appraisals'

ARTICLES

First for 2017: Fannie Mae refines appraisal policies

But will investors change their policies?
Fannie Mae released its first selling guide updates for 2017. And it's a real standout. The GSE clarified rules around property inspections by appraiser trainees. However, some say that more still needs to be done in order for appraisers to act on the clarification.
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Appraisal volume hits a standstill in December

Holidays dent volume
As the month of December and the holiday season wraps up, appraisal volume recorded another decline for the week of Dec. 18. Since 2006, the week before Christmas has had a normal drop of around 7%, according to a la mode. In 2011, however, when Christmas fell on a Sunday as it did this year, the drop was 12.9%. Read on for more context on typical holiday declines.
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Appraisal volume halts as the holidays set in

Four-week average sinks lower
This week's appraisal volume report quickly put an end to the recent increases in volume witnessed the past couple of weeks. The drop doesn't come as much of a surprise though, since the holidays have slowed the ordering of appraisals.
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Appraisal volume finally edges slightly higher

After weeks of declines
After weeks of consistent declines, appraisal volume finally posted an increase for the week of Nov. 13. But it’s hard to say how long this will last given the likely rise in interest rates. This chart gives a look back on how appraisal volume has performed.
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Why does it take so long to close a loan? Appraisers

Speakers at CoreLogic and Urban Institute housing summit say appraisals delay closing
Recent data from Ellie Mae showed that it takes about a month and a half on average to close a mortgage. Several speakers at Wednesday’s housing summit hosted by the Urban Institute and CoreLogic said that closing times could conceivably be much shorter than that, even as little as 10 days. So what’s keeping lenders from closing a loan in a week and a half instead of a month and a half? Appraisers.
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Wells Fargo to pay $50 million to settle claims of overcharging for appraisals

Accused of hiking up appraisal prices for struggling borrowers
It’s been a rough few weeks for Wells Fargo and things aren’t about to get any better. The besieged bank is reportedly set to pay $50 million to settle claims that the bank overcharged “thousands of homeowners” for appraisals conducted after the borrower defaulted on their mortgage.
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Appraisal volume falls three weeks in a row

Continues recent lows into fourth quarter
Appraisal volume doesn't look like it's changing pace anytime soon. Looking at the latest report from a la mode, the fourth quarter is continuing the slow volume levels witnessed for most of the past two months.
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Appraisal volume trudges through September

Only one week in September posted a rise
With September completely over, the latest National Appraisal Volume Index gives a full picture of how the month performed, revealing that only one week posted a rise for the whole month. In fact, the NAVI has actually fallen five of the last six weeks.
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