Tagged: ASC

Criminal Charges Brought Against AMC Owner Brian Coester - Appraisers Blogs 33

Criminal Charges

Criminal Charges Brought Against AMC Owner VaCAP has been informed that AMC owner Brian Coester, of Coester Valuation Management Services (VMS), has new criminal charges filed against him. We have confirmed these charges through the court system public access system: Maryland Judiciary Case Search Criteria Below is a list of 19 court cases found under the name Brian Coester: Is Another Financial Scare on the Horizon? George Will, Washington Post Writers Group, has an interesting column in entitled “America is overdue for another Lehman-Like Episode”. In this article he stated that the stock market has enjoyed its longest-ever bull run. The...

No Numerical Shortage of Appraisers in North Dakota - AppraisersBlogs 11

Nonexistent Shortage of Appraisers

…there is a shortage of appraisers willing to work for sub-par fees and unrealistic turn around times… The American Guild of Appraisers has already heard from many of our North Dakota and nearby states members on the above request. The most recurrent complaint is that there is no numerical shortage of appraisers in North Dakota (approximately 300+-) as well as adjacent states appraisers that regularly cross over to serve client needs there (another 30 to 40+-). What I am told is that there is a shortage of appraisers willing to work for sub-par fees and unrealistic turn around times! There...

How Many Appraisers Are in North Dakota? - Appraisal Shortage Saga Lingers 44

How Many Appraisers Are in North Dakota?

The answer is 153, who are individually licensed in North Dakota. I didn’t segregate the three different license types. This figure came from a download of the ASC appraisal registry of ND licensed appraisers, and not counting duplicate name appraisers with multiple licenses in other states. Many of these appraisers are ‘dual licensed’ in more than one state, in most cases immediately adjacent, but sometimes in states far distant from ND. What’s the population of North Dakota? According to Wikipedia: The United States Census Bureau estimates North Dakota’s population was 755,393 on July 1, 2017, a 12.3% increase since the 2010 United...

TriStar Bank Nuclear Option DENIED! FTC vs LREAB in Circuit Court 16

Nuclear Option DENIED!

VaCAP has just been informed the TriStar Bank Waiver Request has been DENIED by the ASC. Representatives from VaCap attended the TriStar bank appraisal waiver hearing at the Federal Reserve building in DC this morning. Also present were John Russell with the ASA-NAIFA, Leo Regensburg with the AGA, Bill Garber with the AI, Mark Shiffman with REVAA, appraisers and other stake holders. The board members consisted of Robert Witt with the FHFA, Veronica Spicer representing the CFPB, Richard Taft representing the OCC, and ASC board members. The meeting got off to a late start because the Tri-Star representatives were held...

REVVA Reacts to FHFA Study RE AMCs' Appraisal Quality 8

REVVA Reacts to FHFA Study

…the methodology, measures of quality, errors & the insertion of staff opinion seems to indicate bias…. REVVA responds to the FHFA study indicating AMCs bring little value. Mark Schiffman, Executive Director of REVAA, stated to Jacob Gafney, Editor of HousingWire, via email: “We are disappointed that AMCs and lenders were not consulted at the outset of this research so that we could have help ensure sound methodology. We are also disappointed not to have had the chance to discuss this research with the FHFA before it was distributed publicly. This is not a final report of any kind from the FHFA,...

Virtual Assistants & Outsourcing Appraisals? When is Enough, Enough? 96

When is Enough, Enough?

Yet another expert who is making gazillions of dollars using "virtual assistants and outsourcing"… I have been blessed in my life with more than my share of good friends. I’m talking about the lifelong kind. The kind we maintain friendships over 30; 40 or even 50+ years. My Mother and Father have always told me you can never really have too many real friends. They were right. So, at my age I don’t need or consciously seek to make enemies. Just as I have had more than my fair share of true friends, I’ve probably also had my share of...

Appraisal Waivers Meeting... Self Serving Risky Practices Going Forward 16

Appraisal Waivers

TriStar Bank’s request for appraisal waivers: The Appraisal Subcommittee has reached out to the Network Coalitions and has requested appraisers to attend their upcoming meeting on appraisal waivers. Direct from the ASC announcement: ASC Special Meeting – April 12, 2018 Tuesday March 06, 2018 The ASC will hold a Special Meeting scheduled for 10:00 a.m. on April 12, 2018, at the Federal Reserve Board facilities at International Square, 1850 K Street NW, Washington, DC. The purpose of this Meeting is to consider the temporary waiver request from TriStar Bank of Dickson, Tennessee. The agenda for the Meeting will be posted...

ASC Call for Comments: Dangerous Slippery Slope if Waiver is Granted 6

ASC Call for Comments

It is important for every appraiser to submit comments… The Appraisal Subcommittee wants to hear from appraisers on Tristar Bank’s request for appraisal waivers. The comment period is open until April 9, 2018. VaCAP has previously participated in a group letter with other organizations and expressed our concerns on this topic. We will once again be part of a group letter as well as send in our own comments. It is important for every appraiser to submit comments on how this is a dangerous slippery slope if the waiver is granted. Consumer protection is the issue and the door will be...

Appraisers Knew Fannie Mae Would Need Another Bailout 46

Kudos to Rep Hensarling!

Kudos to Congressman Member Jeb Hensarling! House Financial Services Committee Chairman Jeb Hensarling (R-TX) is one of the few federal watchdogs that ‘gets it’ on Fannie Mae’s & all GSE’s operations. All appraisers that have watched Fannie Mae’s changes in policies over the past 3+ years knew it was only a matter of time before they would need another taxpayer bailout. What we didn’t know was that it would be this soon. Most of us assumed it would be after the next crash that their reckless policies trigger. Reading the recent press release from the House Financial Services Committee, my...

TAF Admits Current USPAP Is Inadequate & Requires Substantial Change 11

TAF / ASB Challenge USPAP

30 days after implementation of the last changes, ASB/TAF is already admitting they think the current USPAP is inadequate and requires substantial change. They’re ALREADY Doing It Again! On January 30, 2018 the Appraisal Standards Board announced the release of their Discussion Draft for the 2020-2021 USPAP based in part on a survey from 2017 & prior draft comments. I’m confused. Didn’t we just have the 2018-2019 become effective 30 days ago? Should all those that have not yet purchased 2018-2019 just save their money and wait for the significantly revised 2020-2021 revisions? Rely on word of mouth and online...

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