Tagged : Appraisals 
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Appraisals in Fresno - Challenging Times
Friday, July 16th, 2010 at 3:55pm. 273 Views, 0 Comments.
August 2009 --
Appraisal
Update
In May 2009, the “Home Valuation Code of Conduct” was
adopted by all Freddie Mac and Fannie Mae backed loans (which accounts
for over half of the loans in the United States). These regulations
were created out of a concern that a lender who directly hires the
appraiser for a property could unduly influence or pressure the
appraiser to adjust the price. So, the government backed a new policy
that appraisals must now be ordered through a third-party company in
order to limit communication between the appraiser and the lender or
realtor.
The act has had some negative consequences. Local
lenders were previously able to choose their appraisers based on
quality, knowledge and experience. …