Appraisal-free loans save millions for buyers

For homeowners and buyers, it’s been an unexpected windfall: relief from having to pay for a traditional mortgage appraisal that usually costs between $400 and $600. The savings nationwide to consumers in just the past year alone may total tens of millions of dollars. Sounds great. But to some key players in the home financing arena, the savings look ominous — potentially risky for taxpayers and financially nightmarish for the professionals who provide the service […]

source https://therealdeal.com/2018/05/04/appraisal-free-loans-save-millions-for-buyers/