Fannie Mae and Freddie Mac's new rules are raising appraisal costs, critics say
Fannie Mae and Freddie Mac’s new rules are raising appraisal costs, critics say
http://www.latimes.com/classified/realestate/news/la-fi-harney17-2009may17,0,5903005.story
The rules, intended to improve the accuracy of home valuations, push most large lenders to use third-party appraisal management companies.
Reporting from Washington -- How about this scenario the next time you refinance or apply for a mortgage: The real estate appraisal that used to cost you $325 now costs $450, even though the appraiser doing the work is getting only $175 or $200.