Skip to main content

Homeowners and Appraisers Still Lack Consensus on Valuations

Phil Hall
Aug 09, 2017
Ginnie Mae has announced that it had approved the inclusion of a servicing advance financing facility under its Acknowledgment Agreement program

Homeowners and appraisers continue to agree to disagree over property valuations, according to new data from Quicken Loans.
In July, the average spread between a homeowner’s estimate and the appraised value of the property was 1.55 percent, down from 1.70 percent in June. Also in July, reported home values rose an average of 0.33 percent from the previous month, and they increased by 4.21 percent on a year-over-year basis. Among geographic regions, the Northeast had the lowest annual home value growth in July at 2.65 percent, while the West had the greatest with a 5.64 percent upswing.
“The regional differences in home value growth mirror the perception difference across the country,” said Quicken Loans Executive Vice President of Capital Markets Bill Banfield. “Areas with slower growth were more likely to have owners overestimating their home value, and areas with much stronger growth had higher appraisals than owners realized they would be. With home values constantly changing, and the rates of change varying across the country, this is one more way to show how important it is for homeowners to stay aware of their local housing market.”

Aug 09, 2017
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022