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Podcast: Sales Pitch
Episode: Listen to this How Do Home Appraisals Work in 2023?
Description: How Do Home Appraisals Work? please follow me on spotify
Federal regulations dictate how lenders and appraisers must behave throughout the appraisal process.
After the mid-2000s housing crisis, the U.S. government wanted to increase appraiser independence to prevent the possibility of lending based on inflated home values. The Dodd-Frank Act and the Truth in Lending Act are among the regulations that require appraisals and evaluations to be conducted independently, based on established criteria, and free from outside influence.
The lender may order the appraisal through a third party called an appraisal m...