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Building a quality-centric culture is essential to ensuring appraisal integrity

In light of market fluctuations and regulatory changes, mortgage lenders face significant challenges in today’s market. Even at the highest demand levels in 2024, purchase mortgage applications were nearly 45% lower compared to the same weeks in 2018 and 2019, exacerbated by record-high origination costs. Freddie Mac’s recent study reveals the average cost to originate for the top 25% of performers is $6,900, rising to $16,500 for the bottom 25%.

Adding to this challenging financial reality, the “COVID” vintage of loans has led to brutal repurchase costs for lenders, significantly driven by appraisal defects. While the volume details ⇒

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