NMP - December 2016 - 28


Attracting New Caree
By Michael Dresden

ll participants in
the mortgage
lending industry
have an interest in
recruiting new
talent to our
respective professions and
specialty areas. While the pace
of new entrants to the appraisal
profession has slowed in recent
years, many observers feel that
the availability of quality
appraisers for the assignments
at hand is now in balance. As a
result, our ability to produce a
quality work product is in no
way threatened.
Regardless, from our vantage
point as a fully national
appraisal management company
(AMC), we believe that there is a
distinct possibility in the coming
decade that we will not have
enough experienced appraisers
for the anticipated workload.
Factors for this assessment

A

DECEMBER 2016 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

28

include a steady rise in the
average age of real estate
appraisers, natural attrition from
the profession and a more
difficult path to entering the
appraisal profession. It is
imperative that the mortgage
lending industry, as a whole,
studies these trends and finds
ways to encourage quality
individuals to pursue a career in
real estate mortgage lending
and, in particular, residential
real estate property appraisal.
A look at the numbers
The Appraisal Subcommittee
(ASC) Active Appraiser
Credentials Summary Report
lists nearly 89,000 Certified
General and Certified
Residential appraisers and
another 8,000 Licensed
Appraisers. However, these
totals include appraisers
licensed in multiple states.

When you remove duplicates,
we believe there are about
75,000 active individual
appraisers.
Additionally, many of these
licensed appraisers are not
active in the field completing
core assignments. Instead,
many of them hold
administrative and supervisory
positions with AMCs, banks and
other lending industry
institutions. A good-sized AMC
may have 10 or more licensed
appraisers in the database who
are not out in the field.
At the same time, less than
200 individuals passed appraisal
exams last year and not all of
them moved into field appraisal.
In addition, similar to mortgage
loan officers, the average age of
appraisers is mid-to-late 50s,
advancing on "reduce my
practice" age or full retirement.
Overall, origination volume has

continued to grow through the
years, while the number of
credentialed, licensed
appraisers is actually down from
the last decade.
In our view, we believe that
the appraisal is the best way to
put a valuation on a home and,
thus, technology can never
replace the inspection and
market comparison performed
by a trained and experienced
professional.
However, technology can help
appraisers research and compile
comparables and meet ever
more stringent documentation
and quality assurance
requirements. Furthermore,
working with an AMC allows
appraisers to secure
assignments more readily and
access, without additional
investment, the latest
information and communication
technologies, including



Table of Contents for the Digital Edition of NMP - December 2016

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
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