FREE To CHOOSE… A member of VaCAP shared this on Facebook… We though it is very appropriate as a reminder of the choices we have as appraisers: You Are FREE To CHOOSE, But You are NOT FREE from the CONSEQUENCE of Your CHOICE In case you missed it… The Housing Wire Webinar held on March 1st is now posted for everyone to listen to. Some mistruths about an appraiser shortage is put to bed. The webinar is 60 minutes. You can watch it below and download the slides used in the presentation here. What is going to happen to...
About half of AICPA members don’t believe in USPAP… When I first heard that “they” were trying to do away with the Appraisal Practices Board (APB) of the Appraisal Foundation (TAF), I tried to keep an open mind. I also wondered who “they” are. Did the Appraisal Institute (AI) finally get a sympathetic ear in Congress? Was it preemptive action by the Board of Trustees in anticipation of budget cuts by the new administration? By the way, what does the APB do? I certainly had it wrong. I thought they helped develop the Advisory Opinions (AOs)! To be candid the...
Refocused effort to eliminate the ASC… Why? It’s now much more than rumor. There is a concerted effort to eliminate not just the Appraisal Practices Board (APB) which was the Appraisal Institute’s original target, but now a refocused effort to eliminate the Appraisal Subcommittee (ASC) itself! Think about that folks. What started as a partisan effort to lay ground work for the eventual elimination of Dodd-Frank has quickly morphed into a behind the scenes opportunistic all out push to eliminate the ASC too! It’s no secret among regular Appraisal Institute (AI) members or non AI appraisers that have listened to...
Harmful trend implemented by Collateral Underwriter and AMCs… There is a new trend starting in our industry! Phil Crawford with Voice of the Appraisal exposes it. The trend is being implemented by Collateral Underwriter and AMCs. It is extremely harmful to the consumer and local communities. VaCAP recommends each appraiser, residential and commercial listen to his show. His show is 42 minutes long and worth every second. Listen to the Voice of Appraisal E138 Manipulating Chucky and Alexis Craig!!! 1/28/2017 Great Webinar from Network of State Appraisal Organizations! On January 18th, NSAO sponsored a webinar with Jim Parks with the...
Real Change is on the Horizon! It is always the same; out with the old, in with the new. New Year resolutions typically last a few weeks and then we are back to the same routine. Sound familiar? Well, 2016 saw some improvements in the appraisal profession, but real change is on the horizon. VaCAP’s new year resolution is all about change. Change for the good! 2017 will be a year in which Virginia appraisers continue to move forward in a positive direction. Over the next few months, pay attention to our communications. Some exciting opportunities are in the works...
Dodd Frank created the illusion… I had a different “take away” from the Housing and Insurance Subcommittee “Modernizing Appraisals” hearing. My impression was that there were two simultaneous hearings by the same people in the same place. There was the actual televised hearing with disparate prepared speeches, and then there was the real underlying reason for the hearing. The partisan battle to eliminate Dodd Frank. I try very hard to take a non partisan approach to the issues facing appraisers when writing about or for the American Guild of Appraisers (AGA). Obviously AGA is a union organization, though as I’ve...
Modernizing Appraisals: It seems we’re stuck in 1989… On November 16, 2016, the Housing and Insurance Subcommitte held a hearing on “Modernizing Appraisals: A Regulatory Review and the Future of the Industry.” Subcommittee discussed modernizing appraisals to benefit American consumers. The hearing focused on necessary changes to the appraisal industry. Subcommittee Chairman Blaine Luetkemeyer (R-MO) explained: “Appraisals are one of the cornerstones of the home-buying process. Issues that impact appraisers also impact nearly every American buying or selling a home, in rural and urban areas; in high- and low-income neighborhoods. Yet when it comes to the regulatory regime surrounding appraisals,...
Freddie Mac is opening itself up to over 150,000± potential individual lawsuits… This is a response from Mike Ford to Kenneth Harney’s article, “Freddie Mac planning appraisal-free mortgages”. I represent the American Guild of Appraisers, #44OPEIU, AFL-CIO, and the real estate appraisal-related consumer and taxpayer interests of our more than fifteen million± AFL-CIO members, retirees and their families. I’m prompted to write this open letter regarding your recent well written & researched article, titled “Freddie Mac planning appraisal free mortgages”. Regrettably, it was too brief to cover several additional critical aspects of the issue, but I assume the Chicago Tribune’s...
AMC Registry Fees not be passed on to the appraiser… The Appraisal Subcommittee is accepting comments on the proposed rulemaking to implement the collection and transmission of AMC registry fees. VaCAP has submitted a letter in support of the registry of AMCs by the ASC and is strongly advocating in the rulemaking that the registry fees not be passed on to the appraiser or consumer. We encourage each appraiser to provide comments to the ASC. Comments are closed on July 19, 2016, so please comment NOW. Post your comment here. Comments must be submitted by 07/19/2016 at 11:59 PM As...
Personal safety of appraisers I have several issues that focus on PERSONAL SAFETY of appraisers especially female appraisers that I need to address. I had a recent event where a homeowner was not happy with the appraised value of his home. Four weeks after I had turned in the appraisal, the lender, Freedom Mortgage, proceeded to send five sales that were 16 to 29 months old, for my review. I responded via StreetLinks AMC communication log stating these were not within FNMA guidelines. A few weeks later StreetLinks sent me the following: Good afternoon, the lender has ordered a second...
