Remove Appraisal Process Remove Logistics Remove Mortgage Remove Valuation
article thumbnail

Why is now the time for lenders to modernize their appraisal processes

Housing Wire

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HW: What are some of the biggest challenges to implementing modern appraisal solutions? HW: How can appraisal modernization enhance the valuation process?

article thumbnail

Best practices to speed up the appraisal process

Housing Wire

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. Can appraisals keep pace?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Appraisers raise alarm on AMC revenue-sharing models

Housing Wire

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. In 2023, nearly half of appraisers surveyed said fee pressure was their biggest challenge, up 20 percentage points since last year.

Appraisal 362
article thumbnail

What role does appraisal tech have in creating customers for life?

Housing Wire

For lenders to successfully manage their portfolios, they need to provide borrowers with a seamless mortgage process from start to finish. While having core systems in place is important, no matter how good a lender’s process is, if there’s an issue with the appraisal, everything could be compromised.

Appraisal 379
article thumbnail

VA official talks future of partial claims and revamping its reputation

Housing Wire

The perception of VA loans as risky and logistically complicated — even if an outdated view — continues to impact the competitiveness of the borrowers it serves. John Bell, deputy director at the VA, said the agency has made strides in recent years to get loans processed and out the door in a timely manner.