appraisals

2016 Survey of Mortgage Originators, Fourth Quarter

Anecdotes have increased in recent quarters that there is a growing shortage of appraisers.  55.6 percent of lenders who took part in the most recent Survey of Mortgage Originators indicated some level of issues getting appraisals.  However, 11.1 percent indicated that the issue was significant.

appraisalsRespondents indicated that roughly 9.8% of volume was hit with a rush fee for getting an appraisal within a short time-frame.  On average, those fees were 37.1 percent higher in this sample.

NAR will work with appraiser-members to continue to monitor constraints in the appraisal industry

 

Ken Fears, Director, Regional Economics and Housing Finance

Ken Fears is the Manager of Regional Economics and Housing Finance Policy. He focuses on regional and local market trends found in the Local Market Reports and the Market Watch Reports . He also writes on developments in the mortgage industry and foreclosures.

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