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Examples
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Automated valuation models are replacing live appraisers and are taking a significant proportion of appraiser's fees.
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Instead of being able to winnow out the incompetent from the competent appraisers over time, now the loan officer must rely on the luck of the draw and on the ability of a far-away AMC to substitute its judgment as to the appraiser's competency.
A common-sense way to mend the draconian appraisal process 2011
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From an appraiser's standpoint, valuing a new home can be a challenge, says Sara W.
Who Wants to Buy a New Home? Amy Hoak 2011
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We believe the appraiser's impartiality is an appropriate and needed check and balance.
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Instead of being able to winnow out the incompetent from the competent appraisers over time, now the loan officer must rely on the luck of the draw and on the ability of a far-away AMC to substitute its judgment as to the appraiser's competency.
A common-sense way to mend the draconian appraisal process 2011
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William Maxwell's unhappiness with his appraiser's value estimate, his economics chair provides no qualifications to appraise real estate or review appraisals.
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Pat Turner, an appraiser in Richmond, said Fannie's new requirement "is great news for consumers" because loan underwriters hundreds of miles from the property "no longer will be able to change the appraiser's valuation" simply because they pulled a lower number off a computer.
To boost quality, Fannie Mae calls for experienced appraisers 2010
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Once an appraisal is done, homeowners should double-check all the appraiser's facts for accuracy, both for their home and its comparables.
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Once an appraisal is done, homeowners should double-check all the appraiser's facts for accuracy, both for their home and its comparables.
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Pat Turner, an appraiser in Richmond, said Fannie's new requirement "is great news for consumers" because loan underwriters hundreds of miles from the property "no longer will be able to change the appraiser's valuation" simply because they pulled a lower number off a computer.
To boost quality, Fannie Mae calls for experienced appraisers 2010
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