Author: Dave Towne

Ryan Lundquist Medical Fundraiser 1

Ryan Lundquist Medical Fundraiser

Folks, well known respected appraiser, blogger, writer, speaker, mentor – Ryan Lundquist of Sacramento, CA – is presently in the hospital with ulcerative colitis. A GoFundMe account has been set up by two other appraisers to help with medical expenses, with payments going directly to his wife Jennifer. At the time of my message, the donation status is just under 50% of the goal. Let’s push it higher!! If you can help out, the link is https://gf.me/u/yiqv25 Additional details: Our friend Ryan Lundquist has suffered from colitis for several years and has had a flare-up in the past month. He...

Appraisal Report Corrections Protocol 12

Appraisal Report Corrections Protocol

For some time, appraisers have written or called me, asking about how to do report corrections, or respond to client requests – after an original report has been sent in. I decided to distribute these suggestions to encourage a uniform procedure across the appraiser universe. I don’t recall ever seeing anything published about this topic. Disclose, don’t bury – modifications, corrections or responses to the original report, or even subsequent changes. I have seen too many reports where the appraiser hides changes within the body of the report as if those were part of the original, when in fact they...

Ending the Conservatorship... Potential Changes to GSEs Gaining Steam 2

Potential Changes to GSEs Gaining Steam

Folks, if you have not been hiding under a rock since 2009, you know that both FNMA and FrMAC have been under ‘conservatorship’, regulated by FHFA for over the past 10+ years. If you’ve been paying attention, you also know that over the past few years there has been increasing talk to end the conservatorship, and now, to add competitors to the GSE’s in the mortgage loan purchase arena. That prospect is outlined in the latest Report to Congress by Mark Calabria, Director of FHFA, summarized in this article posted Tues, June 16, 2020, in Mortgage News Daily: The Federal...

Appraiser Directory... Another Suspicious Outfit - AppraisersBlogs 3

Appraiser Directory, Another Suspicious Outfit

There is a new outfit sending emails designed to extract dollars from appraisers, with the message “you need us to market your appraisal service.” The name in their email is: Appraiser Directory. I decided to forensically check this outfit. Their registered “business address” for their web site is actually a UPS Shipping Center business on Sunset Blvd, in Los Angeles. But there is no person’s name tied to that registration. Is it a good deal to send this suspicious outfit $30 to theoretically advertise your business for a year? You’ll have to decide for yourself. But I’ll bet you know...

The GSEs to Split from FHFA? Will the Separation Happen? 7

The GSEs to Split from FHFA?

A key issue is Congress’s thirst for the income the two GSEs generate since they paid off their bailouts… Will separation happen? I found this info in the Mortgage News Daily e-newsletter by Jann Swanson on May 19, 2020: From the article “Fannie/Freddie Seek Financial Advisor to Help Them Exit Conservatorship”: “Fannie Mae and Freddie Mac (the GSEs) have taken what each is calling an important step toward ending their 12 years of operating under conservatorship. Each has announced they are about to issue a request for proposals (RFP) to secure a financial advisor to facilitate that move. In a...

You Are a FEE Appraiser Not a FREE Appraiser - Ponzi Scheme AMCs 32

You Are a FEE Appraiser Not a FREE Appraiser

you are a FEE appraiser, not a FREE appraiser. Do not continue doing business with AMCs who don’t pay you in a timely manner per your state law… There’s an old phrase, whose origination is not precisely known, which says “mind your p’s and q’s.” What it means is ‘watch what you are doing’, or various other aspects of life. How many of you realize that the AMC business model as we currently experience, it is actually a Ponzi scheme in operation? Remember Bernie Madoff? That kind of scheme. It’s been publicized recently in various places that several AMCs, including...

Pandemic Exacerbating Anxiety & Depression in Some - Appraisers Blogs 8

Pandemic Exacerbating Anxiety & Depression

Medical professionals who understand human psyche have been sounding alarms about personal actions relating to how this pandemic is being managed… Folks, this was tough to write, but it’s important. Yes, that’s my opinion! The current state of affairs in this country, and globally, is the worst we humans have seen in generations. Most of us were not alive during the last major pandemic in the early 1900’s, or even during WWII, when living situations were very trying for many people. In later years, pandemics have occurred, but governments’ reactions and actions to those were much more mild as compared...

Desktop Appraisal Not the Same as Hybrids - Suggestion for Doing Them 7

Desktop Appraisal Not the Same as Hybrids

A modified desktop appraisal is NOT anything like hybrid/bifurcated reports promoted by some AMCs and lenders… Appraisers, I have a correspondence relationship with an appraiser within one of the ‘agencies’ who this past week issued new guidance for “modified” reports, including desktops. I’m not allowed to say who, or which agency, but I have actually met the person at a conference, and the individual has been in this industry about 99 years, give or take a few – no…lots! The person provided this suggestion for those of you who are beginning to do the new desktop appraisal, regardless of which...

Homeowner Enabled Appraisal Inspection Tool, Social Distancing Protocols 28

Homeowners Providing Interior Home Data

Clear Capital is launching a new homeowner-enabled appraisal inspection tool the week of March 30… Over the past few weeks, I have seen in forums many appraisers talking about having homeowners provide home interior details (photos, videos, etc.), which can be used in appraisal reports. Well, guess what? American Ingenuity at work, which will be available soon. From the HousingWire article titled “Clear Capital launches new remote inspection tool“: “Real estate technology company Clear Capital has launched a new homeowner-enabled appraisal inspection tool, which adheres with encouraged social distancing protocols in light of the coronavirus. OwnerInsight is a tool that...

Temporary Appraisal Requirement Flexibilities - FHFA Allowing Alternatives 18

Temporary Appraisal Requirement Flexibilities

Temporary Guidance From Fannie Mae… FNMA has issued temporary guidance on appraisal requirements, including allowing desktop & exterior-only appraisals… Folks, due to the ongoing COVID-19 national emergency, the GSE regulator FHFA and both GSE’s have issued new (temporary) guidance on Monday, March 23, 2020. These remain in effect through May 17, 2020, but could be extended due to the on-going situation. NOTE: I have seen nothing yet from FHA or VA. Appraisers (and AMCs) CANNOT modify assignments or reports without specific authorization from the lender client. Appraisers CAN choose to do, or not do, assignments under the inspection guidelines, and per directives...

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