Category: Appraisal Organizations

Appraisal news for real estate appraisers and real estate professionals regarding Appraisal Organizations. News relating to the Appraisal Industry.

Exterior Appraisals & Temporary Appraisal Guidelines During COVID-19 15

COVID-19 Temporary Appraisal Guidelines

Fannie and Freddie are giving preference to desktop appraisals over exterior appraisals, which quite frankly, is completely backwards from what most appraisers believe to be a more reliable appraisal. HUD and the Veterans Administration, on the other hand prefer exterior appraisals…

Appraisers Are Considered an Essential Business 36

Appraisers Considered an Essential Business

Under the order, “essential businesses” cover a wide variety of workers…Appraisers are considered an essential business… Illinois Governor Issues Stay-at-Home Order. Illinois Gov. J.B. Pritzker today issued a “stay at home” order for the entire state starting Saturday March 21, 2020, at 5 p.m. through April 7. The order encourages all “essential businesses and operations” to remain open. Appraisers are considered an essential business The order encourages all “essential businesses and operations” to remain open, but directs them to enforce six-foot social distancing for both employees and customers. Under the order, “essential businesses” cover a wide variety of workers, including...

COVID-19 Pandemic and Exterior Appraisals - Appraisers Blogs 61

COVID-19 Pandemic & Exterior Appraisals

Everyone, not just appraisers is getting bombarded with information on COVID-19. So much of the information differs, it is hard to know what is real, hype or hysteria. So much has been shared within the appraisal groups on social media that there are more conversations about COVID-19 then appraisals. VaCAP is a volunteer organization of appraiser professionals. We are not medical professionals and are just as confused as most of you. Each and every one of us is different. We have different levels of health and different people living in our homes; some may have compromised immune systems, some maybe...

Unsolicited Appraisal Request - Don’t Be Afraid to Charge Your Worth 14

Unsolicited Appraisal Request

…an unsolicited appraisal request instructing payment be collected at the door… Well who said 2020 would be a nice calm year for appraisers? VaCAP has been receiving messages from appraisers about some of the crazy dumb stuff lenders and amcs are doing. What is scary is the things we are hearing are very reminiscent of 12-15 years ago. A long time VaCAP member forwarded an appraisal request to us he received via Mercury Network. All was good with the order, turn time, fee; all good except for one little issue, payment was to be collected at the door from the...

Biden's Claim of Racial Bias in Appraisals Faces Criticism from Appraisers 22

Biden Claims on Racial Bias in Appraisals

Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. He specifically cited the Brookings Institute Study ”The Devaluation of Assets in Black Neighborhoods, The Case of Residential Property”. If you are unfamiliar with this study, in a nutshell, the findings accuse appraisers of undervaluing properties in black neighborhoods. The study is an easy read and can be found here. We will warn you, much of the data used in the study carries very little weight as Census Bureau (self-reported data) and information from Zillow were used....

Arizona Goes After CoesterVMS - GAO to Investigate Appraisal Loopholes 1

GAO to Investigate Appraisal Loopholes

…Arizona is seeking damages and penalties against CoesterVMS… GAO has agreed to complete the study… Maxine Waters and Congressman William Lacy Clay requested a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. VaCAP has learned GAO has agreed to complete the study. The Network of State Coalitions has sent the following to their state members: This is the result of so many voices – the Foundation, ASA, coalitions, NAR, etc. Our Network efforts have given us an inside connection that hopefully we can continue to build on. Our meeting in DC...

FIRREA Under Attack - Protecting Homeowners from Appraisal Loopholes 25

FIRREA Under Attack!

…the federal agencies charged with implementing Title XI of FIRREA have taken steps to limit the number of transactions for which an appraisal is required… Congresswoman Maxine Waters and Congressman William Lacy Clay request a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. The letter to  Gene Dodaro, Comptroller General, Government Accountability Office, addresses threshold increases, regulatory exemptions, appraisal waivers, the North Dakota appraiser certification waiver and evaluations in lieu of an appraisal. It is clear the Chairwoman of the House Financial Services Committee and Subcommittee Chairman on Housing, Community Development and Insurance...

Fundamental Risks in Doing Hybrids 7

Fundamental Risks in Doing Hybrids

…the intent is to caution all appraisers about the fundamental risks in doing these… Hybrids – As if another reason for not doing them was required! Regular AppraisersBlogs readers are well aware of the controversy associated with doing bifurcated hybrids. Extensive information as well as disinformation has been spread by the hucksters that promote them, and those few management or owner-appraisers of such firms that benefit from them. This article is not to debate whether they should be done, or even if they could theoretically be done in anything resembling a USPAP compliant manner. Instead, the intent is to caution...

State Appraisal Board Disciplinary Cases Against Hybrid Appraisers 12

Disciplinary Cases Against Hybrid Appraisers

Rumor has it there are several Virginia Real Estate State Appraisal Board disciplinary cases against appraisers revolving around hybrid appraisals… Some are for and some are opposed. It is a business decision on which types of assignments you choose to accept. If you choose to complete a hybrid or bifurcated appraisal, you need to pay attention and ask yourself a few questions. Is the fee I am receiving for completing this assignment reasonable for the scope of work I must perform? Notice the term customary was not used as these products are new and there is no customary fee YET....

AMC Celebrating One Million Appraisal Orders Sucker Punches Appraisers 40

AMC Sucker Punches Appraisers

Class Valuation sucker punches appraisers! Class Valuation has been celebrating completing 1,000,000 orders and sent a Tweet thanking their clients and staff. There is no mention of the boots on the ground licensed professional appraisers who actually completed those appraisals. Is this the true feelings of Class Valuation? Do they not realize not one order would have been completed without appraisers? Not one simple thank you… Meanwhile VaCAP has learned InHouse Solutions, the AMC division of Get Connexions, Inc. is ceasing all operations as of February 28th. Appraisers on their panel across the country have been getting this email: Jan...

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