Items Tagged with 'Appraisals'

ARTICLES

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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Appraisal volume remains quiet in September

4-week average slightly edges up
There’s less than one week left in September, and so far, the month’s recorded quite the roller coaster. However, despite the drastic rise and fall, September still followed season trends, especially given the beginning of the month included the Labor Day holiday.
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