The short-term impacts of the new appraisal rules

Anytime new rules are introduced to the industry, either by investors or regulators, there will be lenders and vendors who will make changes before they have fully understood the new rules. We expect this to happen with regards to the new desktop appraisal rules and the mistakes that result will create the most significant short-term risk lenders will face.


When valuation professionals don’t pay attention to the fine print, mistakes occur that under the CFPB’s vendor management compliance requirements become the responsibility of the lender. They can also lead to buyback requests. We’ve seen this happen in the past when the GSEs provided some appraisal flexibilities in the face of high loan volume and the industry’s continuing appraiser shortage.


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