Consumer Financial Protection Bureau (CFPB): Allow NMLS loan originators to order appraisals directly from appraisers

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Consumer Financial Protection Bureau (CFPB): Allow NMLS loan originators to order appraisals directly from appraisers

This petition had 2,288 supporters
Marc Savitt started this petition to Richard Cordray, CFPB Director Consumer Financial Protection Bureau (CFPB)

Consumers and small business are being significantly harmed by the Interim Final Rule on Appraiser Independence. Consumer costs have increased by over 2.8 Billion dollars a year; thousands of small business residential appraisers have gone out of business, as the rule diverts appraisal orders to often unregulated middlemen-owned by the large banks and others. Since the rule was implemented, valuation fraud has increased over 50% and it has led to the continuing depreciation of home values.

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This petition had 2,288 supporters

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