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Many homes have equity available, unlike the 2008 housing collapse. Nonetheless, it would be prudent for appraisers to refresh or develop their knowledge on appraising REO properties.”. It’s likely that the task force’s recommendations will be adopted by most of the major players in the residential mortgagelending arena.
Kiedrowski The most recent statistics show Value Acceptance accounts for up to 40% of all mortgage approvals. It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgageappraisal process. This kept appraisers busy. I worked for an assessor’s office then.
. = Appraisal Business Tips from Ann O’Rourke Why is the residential lender business so slow now, as compared with 2008? There are very few direct lender appraisals now. There were a lot of foreclosure appraisals starting in 2008. Only a little of it is relevant to the practicing appraiser.
CDEI, MNAA Excerpts: Typically, this time starts when the comparable goes under contract, then ends on the effective date of the appraisal. Remember what it was like during the crash after 2008, when there were very few loans and appraisal volume severely declined? Mortgagelending is very, very cyclical.
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