Interesting. I believe all the appraisers in my neck of the woods are independents. The banks up here closed their real estate appraisal departments long ago. But you are right, the appraisers who don't come in at the contract price typically are no longer hired. Also, some banks are placing more weight on automated pricing models. A big mistake in my book.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.