It is not news to anyone in the mortgage industry that the market has changed dramatically in the last decade. Back 
then, volume was high and the focus was on closing as many loans as possible. Thorough review of the collateral was not the highest priority in loan decision or risk management as the prevailing sentiment was that appreciation would offset inaccuracies in value and mitigate any potential loss. So, why slow the process just to dissect an appraisal? Well, we all learned why thoughtful analysis of the appraisal is crucial, not just to the lending decision, but also to maintaining the financial health and perhaps the survival of the organization, see the Innovation.
then, volume was high and the focus was on closing as many loans as possible. Thorough review of the collateral was not the highest priority in loan decision or risk management as the prevailing sentiment was that appreciation would offset inaccuracies in value and mitigate any potential loss. So, why slow the process just to dissect an appraisal? Well, we all learned why thoughtful analysis of the appraisal is crucial, not just to the lending decision, but also to maintaining the financial health and perhaps the survival of the organization, see the Innovation.
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