On May 1, the home appraisal industry underwent a devasting overhaul. I don't know who is benefiting from the increased cost and delay in getting a home appraisal, but it's not lenders or borrowers.
This sort of government intervention is exactly what the housing industry doesn't need. How about making it easier for qualified borrowers to buy a house, instead of harder?
Check this article from the Los Angeles Times.
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