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Delinquencies Accelerate

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Leon Stewart

Jan 15, 2002
Not necessarily from unemployment, but the significant increase in "Borderline" Borrowers to increase homeownership. Sometimes referred to as "Sub-prime" for non-FHA Loans. I think the "powers that be" knew the default rate would increase, but now they are trying to find a "scapegoat". This stuff isn't Rocket Science, and we have a history to support the outcome, but Appraisers should not expect an increase of "Full" Appraisals in the future as the "Power's try to relate the increase in foreclosures to faulty value estimates, because they will continue to move their program in the direction of a non-appraisal system.

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