Comment Detail
Date: 01/09/21 First Name: Henry Last Name: Youngstrom Email: youhen@earthlink.net Organization Type: other Organization: Residential Appraiser Comment
One area of residential lending that has not changed in 30 years is underwriting. There is inadequate training and requirements for lender's underwriters. There needs to be an underwriting certification with an exam to insure that underwriters have sufficient knowledge and understanding of appraisals to review and comment on work quality. Most underwriting is from a check list of requirement for an appraisal. The underwriting process creates unnecessary delays in
loan approval and wastes appraisers time answering irrelevant request for data or explanations of appraisal principles that they should already understand.
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