Consumer bureau wants to open a window on home appraisals - latimes.com
The Consumer Financial Protection Bureau
wants you to see the full appraisal report on the house you're buying
or refinancing as early in the mortgage process as possible, and without
your having to ask the lender for it.
This means all the
comparable properties the appraiser selected, adjustments for property
condition or location, plus all additional data — especially
computer-generated estimates — that may have been used to arrive at the
final value.
It also means you would get to see who performed the
appraisal and whether he or she is merely licensed in the state or
carries a professional designation — letters such as "SRA" after the
name indicating higher levels of training and experience. Plus it would
give you an idea about whether the appraiser is locally based and thus
knowledgeable about neighborhood sales and listing trends, or has
traveled from another part of the state.
No comments:
Post a Comment