Items Tagged with 'Appraisals'

ARTICLES

[Charts] NAR survey breaks down problems plaguing appraisal industry

Including what’s happening with appraisal trainees
Not only does the appraisal industry have problems, but there is also a lot of disagreement around what exactly those problems are. This new survey of appraisers from the National Association of Realtors should help give more insight on what’s going on. What will it take for the appraisal industry to start training future appraisers?
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Experts answer: Will technology replace appraisers?

The state of the appraisal industry
The appraisal industry has a heaping amount of questions. This became increasingly clear after HousingWire’s webinar on the state of the appraisal industry, featuring four industry experts. The hour allotted to the webinar was able to cover a range of hot-button issues. However, there was one that stood out: Will technology replace appraisers?
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Guess who just joined the HousingWire free Appraisal webinar?

Hint: He works with the largest mortgage finance entity in the nation
HousingWire is hosting a free webinar next week on the state of the appraisal industry in 2017. We are already getting flooded with questions and, lucky for all of us, Zach Dawson, the director of collateral strategy at Fannie Mae, will join us. Here's how to sign up!
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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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