Will this benefit the average appraiser? Maybe they will cut the handbook down so we are not garbage disposal inspectors.
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FHA to cut 40% of work force.
- Thread starter Trihard
- Start date
Will this benefit the average appraiser? Maybe they will cut the handbook down so we are not garbage disposal inspectors.
Fernando
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- Nov 7, 2016
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- Certified Residential Appraiser
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- California
Sounds like less workers, less FHA or longer time to get such a loan.
Dublin ohio
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- Mar 20, 2008
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- Licensed Appraiser
- State
- Ohio
Clickbait headline
Antonio Gaines, president of AFGE National Council 222, said Tuesday those cuts will also hit the FHA. AFGE National Council 222 is the union that represents more than 5,000 employees at HUD. The agency employs 9,600 people, according to its website. It’s unclear how many are detailed to FHA work.
glenn walker
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- Oct 11, 2006
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- California
Wont effect apprasers actually be a win because you have less people trying to create busy work as their loan volume is way down. The apprasers held desks are mostly non appraisers who just read you what's in the handbook anyway. I expect to see the VA at some point exit the real estate loan and appraisal markets as most are funded by lenders and VA guarantees the loan but the insurance and appraisals can be done by lenders like FHA did years ago.
- Joined
- Feb 14, 2002
- Professional Status
- Certified Residential Appraiser
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- Louisiana
Interesting. Is this just a feeling or have you read something? I can’t say I’ve even heard a whisper that VA would go lender select.
Elliott
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- Apr 23, 2002
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- Certified General Appraiser
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- Oregon
FHA loan volume:
(Perplexity) Here is the annual number of Federal Housing Administration (FHA) loans originated from 2020 to 2024:
• 2020: Approximately 1.3 million FHA loans were originated, reflecting a peak year in mortgage activity due to historically low interest rates.
• 2021: FHA loan origination volume increased by 3%, with about 1.34 million loans.
• 2022: FHA loan originations declined significantly due to rising interest rates, dropping to approximately 800,000 loans.
• 2023: FHA endorsed around 690,000 forward mortgages, continuing the downward trend.
• 2024: FHA endorsed 766,942 forward mortgages, showing a moderate increase from the previous year but still below pre-pandemic levels
...........................
766,942 is about 50% of 1.3 million. : )
(Perplexity) Here is the annual number of Federal Housing Administration (FHA) loans originated from 2020 to 2024:
• 2020: Approximately 1.3 million FHA loans were originated, reflecting a peak year in mortgage activity due to historically low interest rates.
• 2021: FHA loan origination volume increased by 3%, with about 1.34 million loans.
• 2022: FHA loan originations declined significantly due to rising interest rates, dropping to approximately 800,000 loans.
• 2023: FHA endorsed around 690,000 forward mortgages, continuing the downward trend.
• 2024: FHA endorsed 766,942 forward mortgages, showing a moderate increase from the previous year but still below pre-pandemic levels
...........................
766,942 is about 50% of 1.3 million. : )