Tagged: Property Inspection Waiver

Fix What is Broken before Replacing the Product 34

Fix It Before Replacing It!

Fix what is broken before replacing the product. Appraisers are talented professionals that know how to take mass amounts of data, filter through it, analyze & make sense of it all. Utilize the talents of the 70,000 plus experienced, licensed professionals & don’t short change the consumer… Yesterday was the National Association of Realtors Real Property Valuation Forum: Rethinking Real Estate Valuations: Alternatives to Traditional Appraisals. First, VaCAP was well represented with 8 members present from all over the state.  There were many of our Network colleagues there as well from all over the country. Thank you for taking the...

Do Not Get Quiet, Ever Again... As a Matter of Fact, Get LOUDER! 17

Get Louder!

We are most certainly being heard… Do not get quiet, ever again… As a matter of fact, get louder! Colleagues, As Appraisers we have witnessed a lot of changes, some good, some not so good. However, it is undeniable we are most certainly being heard. On state and national levels we are a relatively new voice. Do not get quiet, ever again. As a matter of fact, get louder! We have watched as AMCs have gained stronger and louder voices. However, they are now wary of us as Appraisers as never before. We stand toe to toe with them, and please never forget that truth...

Appraisal-Free Race to the Bottom Home Loans - Risky Business 15

PIW’s Get National Attention

…“a race to the bottom” between the two companies in pushing for more appraisal-free loans Ken Harney, a friend of the appraisal community has written an article about Fannie and Freddie waiving appraisals. The article will be seen by consumers throughout the country. VaCAP encourages everyone reading this to share Ken’s article on all your social media outlets, your websites, blogs, etc.  See the article here. For homeowners and buyers, appraisal-free loans have offered an unexpected windfall: relief from having to pay between $400 and $600 for the service… Fannie’s and Freddie’s no-appraisal option has been popular with lenders… The...

Community Banks Appraisal Waivers Deja Vu - If I Could Turn Back Time 61

If I Could Turn Back Time

Community Banks want to bypass appraisals in rural area… Evaluations are the answer, right? There have been lots of discussions lately concerning property inspection waivers, waivers of appraisals in rural areas, and allowing appraisers to complete Evaluations outside of USPAP standards. Doesn’t this all sound familiar? It should, we have already lived it 30 some years ago, prior to FIRREA. Back then Savings and Loans had staff appraisers to complete appraisals. The appraisal was not completed by a licensed appraiser, because licensing to protect the public did not exist. Today Community Banks want to bypass appraisals in rural area. Their...

Fraudulent Appraisals Class Action Lawsuit, LREAB Oral Argument... 7

Better Than Your Favorite Band’s Concert!

This will be better than your favorite band’s concert! Watch the oral arguments in the FTC vs LREAB case live in Washington DC on Thursday February 22, 2018! “The Federal Trade Commission (“FTC” or "Commission") will meet on Thursday, February 22, 2018, in Room 532 of the FTC Building for an Oral Argument In the Matter of Louisiana Real Estate Appraisers Board. The public is invited to attend and observe the open portion of the meeting, which is scheduled to begin at 2:00 p.m. The remainder of the meeting will be closed to the public ” VaCAP will be there...

State Organizations Changing the Landscape, Appraisal House Is in Order 19

Who’s for Dinner?

State Organizations & Appraisers Helping Appraisers You may have heard the expression “if you do not have a seat at the table, you are on the menu.” VaCAP can honestly state, appraisers are not on the menu. Over the past several weeks, members of the Network (NSAO), which has now grown to 28 state organizations, have been recapping the events that transpired at the meetings in Washington D.C. last month. These meetings consisted of the FHFA meeting, the NSAO meeting, the ASC meeting, and the AARO conference. Most state organizations participated and many individual appraisers attended. The support for the appraisal...

Greedy Players Engaged in Illegal Activities, Lie-Ability & Tax Payers 28

Lie – Ability

Tax payers should not be LIE-ABLE for the actions of greedy bad players! Michael Simmons, Principal and founding Director of AXIS Appraisal Management Solutions, a national AMC had an article published in Appraisal Buzz titled  “What If?” on October 2, 2017. The article, which I believe was intended to spark interest and membership in the Collateral Risk Network (CRN), is an epic failure. Thank you Appraisal Buzz for shedding some light on the garbage being discussed at a CRN meeting! Of course no independent appraiser even remotely gives any credibility to this group. We all know who and what they are. First, let...

Special Report on Appraisal Technology Rebuttal - Hey! BIG Data, Leverage This! 13

Hey BIG Data, Leverage This!

The image above is not a part of the Appraisal Technology Special Report “Across the street from a house are two vacant lots. Zillow thinks one of them is worth $16K and the other one’s worth $169K. You can see them on the aerial view here.” I was recently asked by professional peers if I would read and comment on a Special Report published by ValuationReview, with the introduction penned by Mike Holzheimer, Editor. This Special Report may be downloaded here. Let’s be clear up front. I was not asked because of my proficiency with grammar, punctuation or even my...

PIW & ACE Waivers Still a Hot Topic 2

PIW & ACE Waivers Still a Hot Topic

A few weeks back, VaCAP asked appraisers to start a conversation with agents and brokers about the ACE & PIW Waiver Programs being used for purchases. This is an opportunity for appraisers to gain more non lender work. As it turns out, appraisers are not the only ones that are concerned about these program. The National Association of Realtors (NAR) sent a letter Director Melvin Watts of the Federal Housing Finance Agency expressing concerns over the use of these programs. Specifically siting lack of transparency on how the use of these programs will ensure a safe and sound housing market....

Call to Action About Risky Appraisal Waiver Program 1

Call to Action Againt Risky Appraisal Waivers

Call Congress about Fannie/Freddie’s Risky Appraisal Waiver Program! VaCAP has received the following from the Appraisal Institute. Please contact your representative concerning Fannie and Freddie. Appraisers, Appraisal Organizations and NAR are all uniting to stop this. Make your voice be heard. Contact your representatives today. All, FYI — An action alert has been set up for appraisers to call their members of Congress relative to the GSE appraisal waiver issue. Click here to find the contact information of your member of Congress. Please let me know if you need assistance or have any questions. Bill Garber Director of Government and...

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