Are In-Person Appraisals On Their Way Out?
As technology improves, the concept of valuation modernization is gaining traction and some industry leaders say in a few years in-person appraisals could be a novelty instead of the norm.
Last month, leaders at Fannie Mae announced an update to their selling guide which includes newly available valuation options. They said valuation modernization helps lenders, appraisers, and risk investors manage collateral risk more efficiently while also benefiting customers with greater appraisal accuracy, lower costs, and an increased speed of loan decisions.
Matt Stepanovich, vice president of national sales, hybrid valuations and quality control at SingleSource Property Solutions, recently sat down with Editor Kimberley Haas to talk about what he is seeing.
SingleSource, located in Canonsburg, Penn., is a nationwide service…