Appraiser News
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Industry experts give opinions on 2014 (pt. 2)
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Thursday, January 9, 2014
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Valuation Review asked industry experts the following: “How do you see the appraisal industry changing/growing in the next year?”
Here are some of the responses in part two of our 2014 preview:
Paul Doman, president/ chief executive officer, Accurate Group
I see lenders and mortgage servicers, big and small, continuing to outsource valuation and compliance management to quality companies who have technology that promotes full and complete compliance transparency to meet the new regulatory guidelines and to produce high-quality values. Most lenders and servicers do not currently have, or do not want to invest in, the technology to meet the new compliance requirements.
I also see lenders and servicers continuing to struggle with a growing problem — the lack of well-qualified, new appraisers entering the marketplace. The aging population of available appraisers will, in the longer term, negatively affect service levels and the quality of values. Lack of appraiser supply, along with questions about the use of real estate brokers to develop broker price opinion (BPO) products, will continue to drive a demand for high-quality appraisal and BPO alternatives that are compliant and use technology to leverage the available appraisers in the marketplace.
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