Mortgage Daily Logo
mortgage news from industry experts

2011 Loan Originator Survey – Appraisals

2011 Loan Originator Survey

Survey and analysis of the nation’s top-producing mortgage loan officers

Sponsored By
www.ezratequotes.comwww.mtginfo.comwww.mortech-inc.comwww.mortgagevco.comwww.motivitysolutions.com

Appraisals

Originators today have less leeway to select the appraisers with whom they work. Some are concerned with the values delivered by automated valuation technology tools.

Half of those surveyed said that they select appraisers through a company-approved appraisal management company.

More than a quarter use a company-managed appraisal panel.

Another 17 percent use an AMC approved by the investor, while just 5 percent use appraisal management software.

Here are some comments from the survey responses.

  • MLO should have the ability to determine home values via conversation or contact with an appraiser in the market to determine current values rather than relying on AVMs which are grossly inaccurate and very poor indicators of market values.

  • AVM Program is creating downward spiral in home values, putting pressure housing market and resulting loan production.

  • Appraisal process is horrendous

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION