Might your appraisals be risky still?
Tom Showalter, PhD, Chief Analytics Officer for Digital Risk, conducted research between 2011 and 2014 across numerous lenders involving over 200,000 originated loans. His research focused on property valuations and their level of accuracy when compared to the true property value.
The result of this comprehensive study can be found in the newly released paper, These Loans are Pristine! (Or Are They?): A Multi-Billion Dollar Loan Quality Problem (IS) Still Prevalent. In his work, Dr. Showalter challenged the popular notion that manufacturing risk is no longer a concern given the current processes used by the majority of lenders today. His intent was to answer the question, “Is the Industry really seeing a reduction in valuation risk”?
Download the full report now.