Tagged: discussion draft

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...

The Decline of Appraisers 26

The Decline of Appraisers

The problem is not simply that too many appraisers are retiring. Very few appraisers are entering the profession. In Illinois, the drop in real estate appraiser trainee applications went from 1,231 in 2005 to only 55 in 2015. That’s an over 95 percent decline. This drastic reduction in new entrants is being seen in states across the country. Many appraisers welcome the shortage, which has already driven up fees in many areas. But many believe the celebration is shortsighted. A decline in the number of appraisers threatens the integrity of lending and undermines the stability of the real estate market…

Mortgage Rates Approaching all Time Lows 2

Mortgage Rates Approaching all Time Lows

Mortgage rates are approaching all time lows…again In case you have not been following mortgage lending rates activity, mortgage rates are again very close to what we experienced in the second quarter of 2013. Here’s the link to a Mortgage News Daily e-newsletter article. From the article: Mortgage rates were widely available at 3.5 percent for much of the day today. At any other time from the middle of 2013 through the end of 2015, that’s not something that very many people thought they’d be able to say (or read, or think!). A few lenders had been dabbling in quoting...

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