Tagged: review

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A Mind Blowing Trend

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 the Appraisal below: 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...

Appraiser Safety - Stalked by Homeowner 29

Appraiser Safety, Stalked by Homeowner

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...

Review appraiser - adjustments 8

Observations of a Review Appraiser

Adjustments appeared to come from some List or Automated… Recently I had the opportunity to work on a Class Action case. The case settled, and there are confidentiality agreements for both sides, so I cannot reveal any details. I will summarize the allegations and findings, as well as the scope of work performed. I should say also that before being hired, I was interviewed, and vetted. Every reference provided, was contacted, as well as a records check and background check. What they were looking for was a combination of a clean reputation for being unbiased, as well as depth of...

An Opportunity for More Work? 15

An Opportunity for More Work…

Work opportunity for $25… Opportunity? A member of VaCAP forwarded this email from an AMC. VaCAP wanted to share. “We have a new product which is a review of a BPO. You’ll need to log onto a site and complete a checklist. The pay is $25 per report with a 24-48 hour turn time. Most can be done in about 10-20 minutes. All work can be done from your desktop. Training will be provided. Please let us know if you are interested. At this time, we are reaching out to garner interest. We’ll let you know the next steps as...

Second appraisal controversy - argument 11

Second Appraisal Controversy

On reading a recent post about agents telling their clients to just order a second appraisal when the values came in ‘low’, I’m reminded of an old saying that both my parents used to frequently address toward me, “People who live in glass houses, shouldn’t be throwing stones.” I had no idea what they were talking about since when growing up I’m CERTAIN that ALL of my criticisms were well founded and deserved by those they were directed to. Teachers, government officials, world politicians, teachers, general authority figures, friends, enemies, and did I mention teachers? Basically most of the entire...

Adjustment Values, Frequency & Dollar Amount 17

Adjustment Values, Frequency & Dollar Amount

Ever wondered what other appraisers are doing with adjustment values? Appraisers, Have you ever wondered what other appraisers are doing with adjustments in their reports? CoreLogic has done research over the past 3 years, using 1.3 MILLION+ reports, and has produced the graph attached here.  You may want to print this for reference. This graph shows the percentage of time a certain feature is adjusted, and the average dollar amount of the adjustment for each of those. It’s rather interesting. The highest amount of adjustment, approximately $14,000, is for the Quality Rating. Not really surprising as to the amount, but the percentage...

Beware of Appraiser Karma - Llano Cases - Imagecredit Flickr - Doug Geisler 7

Beware of Appraiser Karma – Llano Cases

In our world of claims involving appraisers, we quite often see different versions of this same story — in this version of the story, an appraiser did a review appraisal that was used by Savant LG in a currently pending case against another appraiser in Florida. Just months later, that appraiser found himself named as a defendant in a lawsuit filed…

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FHA Electronic Appraisal Delivery (EAD) Portal

Use of the Electronic Appraisal Delivery portal will be required for all FHA-approved mortgagees, effective for FHA case numbers assigned on or after June 27, 2016.  Mortgage Letter 2015–08  published on March 26, 2015, provides more information. FHA’s EAD portal is a web-based technology system that enables electronic transmission of appraisal data and reports to FHA by FHA-approved mortgagees and/or their designated third-party service providers prior to loan endorsement. Features The EAD portal’s system messages provide real-time feedback on compliance with FHA appraisal data and report requirements. The portal leverages industry data standards and industry appraisal practices, and: Offers process efficiencies inherent...

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Can’t We All Just Get Along?

“Our investigation and the Board’s review concluded that the evidence did not reveal a violation of the Board’s laws and rules governing the practice of Real Estate Appraising. The Board has, therefore, closed the file in this matter.” That is how the most recent complaint against me ended. The ordeal began last spring. I have been called upon multiple times from my current clients to please be willing to go to a new area. It is an area with few appraisers, and there is a need. Unfortunately, it is a bit of a drive for me so I have avoided...

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CU: Nightmare or Income Opportunity?

Place this statement into your canned comments as it can serve you well. I received a copy of Ken Harney’s recent CU article today via email. The article was sent from an old appraiser contact that remembered me from the fight that I was leading to boycott AMCs from 2009 to 2010. Ken Harney is undoubtedly the best friend an appraiser could ever have in the national media as he was the only syndicated columnist willing to cover the injustice of HVCC. He and I exchanged several emails during those days. I found no ground breaking news within his article....

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