twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Appraisal News | AMC Directory
Appraisal industry news coverage, including stories about independence requirements, AVMs and appraiser fraud.


P R E S S   R E L E A S E


FOR IMMEDIATE RELEASE

APPRAISERS IN DEMANDóNAN IS READY!


TAMPA, Florida -- (July 20, 2015) Everyone has heard the term "Catch-22", a phrase that can have vastly different meanings depending on the circumstances for which it is used. In the case of real estate appraisers, the industry is running into a huge Catch-22 and the outlook is not very good for many involved. The latest statistics from the Appraisal institute bears that out.

From their report in June of 2014:
"The number of active real estate appraisers in the U.S. stood at 80,500.The number of appraisers decreased at an average rate of 2.6 percent per year over the past six years. A broader analysis suggests the rate of decrease could rise sharply over the next 5 to 10 years due to retirements, reduced numbers of new people entering the appraisal profession, economic factors, and greater use of data analysis technologies."

The weak market, increasing regulations and smaller fees have also factored into the dwindling appraiser population. "Itís definitely something weíre aware of and addressing within our network," says Joni Pilgrim, Co-Founder of Nationwide Appraisal Network (NAN), one of few Appraisal Management Companies†registered in all 50 states. "After the turbulence that started in 2008, regulations became tighter and the market really dried up for a while, forcing appraisers out of the business. Itís 8 years later and we have seen a lot of rebound in home sales, but those appraisers never came back and many that stuck with the business are now around retirement age. In fact, over half of the current appraisers are between 50 and 65 years old."

So why arenít more young people jumping into the appraisal business? According to NAN Co-Founder Cari Burris, there are a number of factors. "People are a bit hesitant since the fall-out of 2008. That period in history really hurt the appraisal profession. There was no money to lend and therefore few homes to sell. NAN does not foresee that kind of bubble burst in the overall current landscape. But even if there was a slowdown, our business is set up so that our appraisers would never suffer from a lack of work."

However, that doesnít solve the overall problem of dwindling appraiser professionals. How can people be encouraged to enter the profession and make it easier and faster for one to transition from apprenticeship to licensure while maintaining competency and experience?

A big concern is that the Real Property Appraiser Criteria has been updated over the past decade with changes to the education and examination requirements for licensure or certification. However, the appraisal experience requirement has gone virtually unchanged.

Appraisal experience is important to becoming a minimally competent appraiser on whom the public can rely. There is much discussion, however, as to whether there should be alternatives to fulfilling the appraisal experience component of the Criteria in lieu of the traditional supervisor/trainee model currently in place.

NAN understands the importance of these types of discussions because of the high standards theyíve set in the industry regarding appraiser vetting. Finding high quality appraisers doesnít happen overnight. "Requirements in general are more stringent," adds Burris. "And NANís guidelines require nothing short of excellence for our appraisers. We have to verify experience and competency with each appraiser we select for an appraisal assignment. This task is becoming more and more difficult as new loan products come about. And the Catch-22 is that while seasoned appraisers are retiring, very few higher education programs are really focusing on real estate and appraisal certification."

Itís not all doom and gloom, though, says Pilgrim. "As members of several industry associations, we along with many are brainstorming on ways to make the appraiser career attractive to young people again. We know that the AQB is also looking into alternatives such as different tracks for obtaining experience as well as revising the credentialing system and restructuring licensing classifications. At Nationwide Appraisal Network, we take this matter seriously. We hope that our continued participation with industry affiliates and appraiser vendors can work towards creating a profession that is once again thriving and succeeding well into the future", Pilgrim concluded.


About Nationwide Appraisal Network - NAN is an industry leader in appraisal management, providing a unique approach to valuations through customization, innovation, and quality. Visit us at www.nationwide-appraisal.com†or call call

###



Source: Nationwide Appraisal Network

Public Relations News | PR Agencies | Mortgage Daily Press Releases
Announcements about mortgage industry public relations firms. Stories about building your brand and increasing your exposure.




Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news