Appraisal Fee Reference- Interesting Article

[Administrator]

This is an interesting article on fees across the country, I am not sure of it's veracity but it is interesting.... If you are not an alamode member click the attachment below for a copy of the report.

Amanda

http://www.mercuryvmp.com/analytics/reports

The Appraisal Fee Reference™ is the authoritative guide to median and average fees observed between clients and independent fee appraisers when specifying the Uniform Residential Appraisal Report, or URAR.  It provides statistical data on hundreds of thousands of URAR transactions at the national, regional, and state levels, covering all 3,221 counties and local administrative districts in the fifty United States, the District of Columbia, Puerto Rico, and Guam. 

Click here to get the data now.

It is just one of the monthly data sets published as part of our Appraisal Industry Analytics™ practice, which is itself part of our Mercury Network vendor management division.   Mercury Network is used by lenders to manage the appraisal process in compliance with applicable regulatory guidelines.

The transactions we observe between lender clients and appraisal clients using Mercury Network’s technology backbone form the basis of the fee data reported here.  The analysis excludes reports ordered by known appraisal management companies, or AMCs, in order to determine the customary fees paid to independent fee appraisers when they are engaged directly,
without middlemen.

The transactions cover the prior twelve months, up to the end of the month immediately prior to publication.  It is actual observed data, not an industry survey of perceived fees. Each transaction is extensively validated and verified before inclusion.

The objective data presented here is useful to appraisers, lenders, AMCs, Realtors, and regulators in a variety of business planning and compliance functions.   It provides a defensible basis for compliance with FHA rules regarding customary fees, and also is useful in predicting closing costs for the HUD 2010 GFE when appraisers are engaged directly by the lender. For more information regarding this analysis, see the Frequently Asked Questions (FAQ) at the end of the report.

a la mode releases inaugural national Appraisal Fee Reference™ for ...

Industry Analytics FAQ