9/23/2023 0 Comments Fallout shelter stats above 10![]() And that’s the way it is – March 1, 2023. The only reason for these changes are about a piece of the 11 TRILLION dollar mortgage market. Ok appraisers, it’s time to speak out and stand together. ![]() ![]() If appraisers don’t stand up and say no, right now, the running joke of the appraisal industry could be gone in five years well, it just very well may come true. Why trainees can’t provide the data is simply because big banking and AMC’s don’t make profit from the inspection part of the process. At the end of it all, it’s about control and profits. Both options say they are good for consumers and both options are filled with fabrications and misinformation. FNMA wants an appraiser’s signature so the appraiser can be held responsible if there’s any problem in the future. Secondly, the 3rd party inspection is sent to a licensed appraiser. And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. Appraisal trainees aren’t good enough, so now we will have unlicensed inspectors going through the homes of unsuspecting homeowners. Two options for the future, both of which do great harm to the appraisal industry.įirst, “third party” inspections. Hamp Thomas 12 minute video – my favorite commentary on this issue!įannie Mae took a direct shot at appraisers today with the announcement of changes in their Selling Guide. Fannie Mae: Appraisals are no longer the default option: Value Acceptance replaces Appraisal Waiverįannie Mae updated its Selling Guide on March 1 to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.” Those options include value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals.įannie Mae – No Appraisals Required – The End of Appraisers?
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