Buyer Beware: Appraisers Bidding Up Fees After Loan Applications

Orange County Register, June 24, 2021–Jeff Lazerson
Appraisers are aging out and retiring. Fannie Mae and Freddie Mac have developed sophisticated, automated appraisal processes resulting in property inspection waivers for more and more borrowers. The residential appraisal industry will go the way of the horse and buggy soon enough. In the meantime, you might just end up paying a lot more than expected when applying for a mortgage and receiving a loan estimate. (MBA mention)