Appraisal News and Appraisal Tips For Real Estate Appraisers - Your source for appraisal industry news, appraisers' opinions, and discussions of appraisal issues

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...

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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....

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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...

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UAD Quick Reference Guide

Dave Towne developed this UAD Quick Reference Guide (QRG). The UAD is the most significant change to report preparation since national forms were adopted in the early 1960’s. His reference guide condenses the current 37 page UAD Appendix D manual into 5 basic ½ sheet pages, plus a conversion chart for the site size (since many counties report small sizes as a digital portion of an acre). It is organized so that appraisers can reference page 1 & 2, depending on which page in the report is being worked on. Definitions and other details are also included, taken from the...

Reasonable and Customary Fees - Who to Call? 4

Reasonable and Customary Fees – Who to Call?

Who to Call? Fellow appraisers, peers, coalition members and all who work as professional real estate appraisers, we ask for your help. Federal Law known as the Dodd-Frank Act went into effect on April 1, 2011. It clearly states and intends that real estate appraisers be paid “Reasonable and Customary” fees for appraisals performed by state licensed and certified real estate appraisers. Reasonable and customary, generally means what appraisers in a geographic area are generally paid based on a survey of such fees. The survey is supposed to be of fees paid by such entities as the Department of Veterans...

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...

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The Dawn of a New Era in Appraising

We all know it is a far more complex environment to be appraising today than it was just five years ago. Approximately 30 years ago the automobile industry began to introduce computers into cars and since that time they have never been the same. What was once considered a rather simple procedure – tuning up your engine or even changing the spark plugs – has become an almost impossible project for anyone, except the highly trained automobile technician. Today nearly every aspect of your car is aided or controlled in some manner by a computer. Digital radios with CD players,...

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Real Estate Appraisers in 2011

Now that we are entering the new year, real estate appraisers in any U.S. market must start looking to increase their marketing efforts and reach to find new clients. Although the last few years have been difficult for any real estate profession, there are always new opportunities to be found. We are certain that 2011 will be a stability year, housing markets are finding footing and there have been increases in home buyer demand throughout the country. Home inventories are higher than ever and prices are the lowest we have seen for a decade. Whenever the economy is shifting and...

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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

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...

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