Apr
16

Appraising the Appraiser

By
– The New York Times

Should you care about how much money your (residential) appraiser makes?

That question is at the heart of a dispute in the mortgage industry, pitting independent appraisers against established banks, which in recent years have built vast networks of affiliated appraisers, through appraisal management companies.

Appraisers who work on behalf of these companies typically receive less pay than those who do not. Some appraisers say the lower fees mean consumers are less likely to get a high-quality appraisal, which could jeopardize their loans.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.nytimes.com/2009/03/22/realestate/22Mort.html?_r=3&emc=eta1

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