Appraisals And The Loan Process

Dated: December 13 2016

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Ever wonder why it can take 45-60 days to close on a home? On average a lender spends about 3-5 days on a loan file, so the technology exist to close in about 15 days. So, where does the additional 15-30 days go? Well some of it is waiting for your turn in line with the underwriters but much of that time is spent in the appraisal process. Jordan Petkovski, CoreLogic’s chief appraiser and senior vice president has created an outline of the regulatory environment that appraisers have to navigate before your appraisal can be submitted to your lender. The real estate and mortgage industry has made advancements in technology that has allowed us to move at lightning speeds, it is time for the appraisal industry to step up their game also by removing some of the bureaucracy.

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Brian Jacobs

Mr. Jacobs has been in the industry for the better part of two decades starting in the mortgage industry growing his own Mortgage Brokerage which he then sold in 2006, since obtaining his Real Estate ....

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