In February 2021, The Mortgage Bankers Association responded to the FHFA's Request for Information (RFI) on Appraisal-Related Policies, Practices, and Processes. In the MBA's response, Bob Broeksmit, CMB wrote, "FHFA’s objective of promoting the modernization of the appraisal process is a welcome step toward determining the appropriate intersection of traditional evaluation methods and the incorporation of innovative digital tools. As the mortgage finance industry continues to grapple with the effects of an aging appraiser population and longer turnaround times on appraisal findings, greater demand has been placed on identifying ways to automate aspects of the valuation process, while supporting the development of approaches that offer fair and unbiased results."
Listen as Amy Swaney, CMB discusses the issues with Appraisals and what a future-state could look like.
Host: Mike Eshelman, CMB - Head of Consumer Finance (Jornaya)
Guest: Amy Swaney, CMB - Branch Manager (Citywide Home Loans)
