Author: AppraisersBlogs

AGA Meets With Rep. Barney Frank to Discuss Fed's Rule on Appraiser Independence & Reasonable & Customary Fees 1

AGA to Discuss Appraiser Independence & C&R Fees

…excluded from Reasonable and Customary fee surveys… The American Guild of Appraisers (AGA) / Guild 44 of the Office and Professional Employees International Union, AFL-CIO met with Representative Barney Frank (D-MA) on April 14 to discuss the Guild’s concerns with the Federal Reserve Board’s Interim Final Rule (Rule) regarding Appraiser Independence. With the implementation of the Rule issued April 1, 2011, the Federal Reserve has introduced faulty regulation that implicitly fails to capture Congressional intent to reform the appraisal process and Appraiser Independence and the necessity to promote the use of market driven, Reasonable & Customary (R&C) fees for various...

AGA / AMC / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Lenders May Still Profit Most from Appraisal Fees 3

Lenders May Still Profit Most from Appraisal Fees

Lenders May Still Profit Most from Appraisal Fees, writes Kenneth Harney WASHINGTON — When you pay $450 to $550 at settlement for an appraisal on a  home purchase or refinancing, do you assume that all or most of the money is  going to the appraiser who comes to the house and performs  the valuation? That’s logical, but probably not correct. Despite new Federal Reserve  regulations that took effect April 1 requiring lenders to pay appraisers fair  fees, growing numbers of them say they are still being offered $200 to $250 —  even as low as $134 —  for work that...

AMC / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees / Dodd-Frank Act / C&R Fees

Questions Regarding Customary and Reasonable Fees? 0

Questions Regarding Customary and Reasonable Fees?

Where To Direct Questions and Comments Regarding Customary and Reasonable Fees There has been a lot of confusions about where appraisers can direct questions and comments regarding customary and reasonable fees. The Appraisal Subcommittee has recently posted the following information: The appropriate agency to receive your concern about a creditor’s compliance with the Truth in Lending Act (TILA), including the creditor or the creditor’s agent paying an appraiser a customary and responsible fee, is the agency that enforces TILA for the creditor. If the agent or appraisal management company (AMC) is affiliated with a federally-regulated creditor, the appropriate agency to receive...

AMC / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees / Dodd-Frank Act / C&R Fees

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a la mode’s UAD solution to the GSE’s Uniform Appraisal Dataset

Required as of September 1, 2011, the Uniform Appraisal Dataset or UAD changes how appraisers fill out the URAR and 2055. a la mode UAD solution let the appraiser fill out the form as easily and quickly as possible. There are no pop up windows with okay or cancel buttons. Clicking into a field simply expands part of the form if necessary where appraisers can check any boxes, select any appropriate pull downs, and fill out any additional comments. Tabbing or clicking out of the field will automatically combine the appraiser’s answer in the exact format that the GSEs need....

a la mode / Appraisal Software / Fannie Mae - Freddie Mac / Tutorials / UAD / Uniform Appraisal Dataset

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Appraisers Online Petition Opposing AMC fees as C&R

Appraisers online petition opposing use of AMC fees as Customary & Reasonable Please consider signing the online petition launched by appraisers and written by George Hatch, opposing the use of AMC fees as Customary & Reasonable: Federal Reserve Board to Clarify Customary and Reasonable Appraisal Fees On October 18, 2010, the Federal Reserve Board announced an interim final rule to Regulation Z of Title 12, also known as the Truth in Lending Act (TILA). One of the elements to Regulation Z is a binding requirement upon creditors and appraisal management companies to ensure that appraisers who are not employees of...

AMC / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees / Dodd-Frank Act / C&R Fees

WinTOTAL - Aurora Formfilling Essentials Tutorial 1

WinTOTAL Formfilling Essentials Webinar

WinTOTAL merging tutorial If you are a WinTOTAL user, you may be in in the habit of starting a report by cloning a template instead of merging a template. This class shows you how to start a report by merging a template instead of cloning it, or merging different sections of a report or several reports. Cloning overwrites everything while merging fills in the blanks. In other words, you can merge parts of one report or several reports over and over again without overwriting the fields you have already filled in. For example, let’s say you have done a report...

a la mode / Appraisal / Appraisal Software / Tutorials / Video / WinTotal

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Uniform Appraisal Dataset Tutorial

Freddie Mac’s Uniform Appraisal Dataset tutorial introduces appraisers to the requirements and instructions for appraisal reports in accordance with the new Uniform Appraisal Dataset, or UAD. The UAD is part of a larger effort by Freddie Mac and Fannie Mae to implement uniform appraisal and other loan delivery standards, which is being undertaken at the direction of their regulator, the Federal Housing Finance Agency. This webinar shows how to enter appraisal data in the prescribed format, how to report the condition, quality and improvements of a property, and what Fannie Mae and Freddie Mac expect appraisers

Fannie Mae - Freddie Mac / Tutorials / UAD / Uniform Appraisal Dataset

DataMaster Tutorial 3

DataMaster Tutorial

DataMaster is a software that works hand in hand with the following appraisal software: WinTotal, ACI, and ClickForms. It auto-populates MLS data and/or Public Records data directly into appraisal reports. These records are compared giving the appraiser the ability to decide which source to use. DataMaster also calculates the Fannie Mae 1004 Market Conditions Report, and transfers that information directly into the appraisal form (1004MC). By electronically transferring data, re-typing of data is eliminated, reducing time spent on an appraisal report. With little user input necessary, it populates the Subject, Comparable Sales, Rentals, and Listings Grids of an appraisal report in...

1004MC / a la mode / ACI / Appraisal / Appraisal Software / Appraisal Technology

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DaVinci for Ipad

DaVinci for iPad, the first real estate appraisal software for Apple’s iPad™, is available in the iTunes store. The sketcher takes advantage of the iPad’s high-resolution 1024 x 768 touch screen. Switching between drawind modes, defining areas, inserting symbols and labels is fast and simple. You can draw a wall with a simple finger swipe. A keyboard layout simplifies entering dimensions and drawing lines. You can pinch to zoom and pan across the screen. Data gathering is also quick and easy.  Gathering data, navigation between forms, data entry form and active QickList item couldn’t be easier to use.

a la mode / Appraisal / Appraisal Equipment / Appraisal Technology / Davinci / Ipad

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Davinci desktop: a walkthrough

Davinci Desktop is a a free sketcher built in WinTOTAL by a la mode. It is a simple, fast and reliable alternative to Apex Software. It has one-click line editing, full undo/redo eliminating the need to reopen and redraw lines and areas, and a large symbol and label libraries. In this webinar, you will learn how to draw and modify sketches with Davinci Desktop software.  Below is a tutorial for Davinci Desktop.

a la mode / Appraisal / Appraisal Equipment / Appraisal Technology / Davinci / Tutorials

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