Category: Trending

Why Not Qualified Appraisers Instead of Cheap Appraiser Imposters? 29

Appraiser Imposters!

AMC sends a “non-appraiser” to photograph, measure, sketch, and observe a property, it’s quality, condition, and surroundings instead of using a qualified appraiser… I’m not an Appraiser, You just think I’m one Ever see the AT&T commercial where the surgeon walks in and he says “I Just got reinstated, Nervous? That’s ok so am I”. If not see here:   Or the late 1986 commercial with Peter Bergman that states I’m not really a doctor but I play one on TV.   Well get ready Consumers because the person that is about to visit your home IS NOT an appraiser...

Score Card, Turn Times, Undue Pressure & Appraisal Independence 16

Appraisal Independence

Most appraisers could care less about an amc score card… Professionals don’t treat other professionals like they are in grade school… What exactly is appraisal independence? Dodd Frank requires appraisal independence and associates it with pressure against the value of the property. But what about other areas of the appraisal process in which appraisers receive pressure? Let’s take turn times for example. Normal turn times in a steady market average 5-7 business days in most markets. Market activity, location, complexity, etc. will require longer turn times. First let’s define a business day. This is Monday through Friday and excludes Federal...

Why Haven't State Licensing Boards Audited AMCs? 22

Should AMCs Be Audited?

Why haven’t State Licensing Boards audited AMCs? Things went a bit crazy, but in a very good way! Monday April 29th, VaCAP launched a consumer protection campaign on WRVA 1140 AM News Radio. Our email and social media accounts were non stop. Many of our sister Coalitions in The Network of State Coalitions helped spread the word and shared our Press Release with their members, posted on their websites and on their social media pages. A huge thank you to all our Sister Coalitions for helping us spread the word. In case you missed all the excitement, here is the...

Desktop Appraisals, the be-all end-all of Valuation Hype by non-Appraisers 29

Desktop Appraisals Hype

…attempts to make readers believe desktop appraisals are the be-all, end-all of property valuation… Folks, a ‘white paper‘ was put out by a company in the property title, escrow and servicing sectors, tied to mortgage lending. It does a reasonable job of explaining what Hybrid appraisals are… which they call “desktop” assignments. Then this puff piece put out by Clear Capital, attempts to make readers believe these products are the be-all, end-all of property valuation. Both of these are typical PR pieces, designed to provide information while promoting a specific brand. Interestingly, neither mention anything at all about the interest...

NY AMC Law Sends Shockwaves Through AMCs - Appraisers Blogs 20

NY AMC Law Sends Shockwaves

Back on April 19th, I wrote about the New York AMC law in my Housing Notes newsletter. After years of AMCs chipping away at the public trust, the New York AMC law was designed to protect the consumer. The bill summary was: Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state. Last week, AppraisersBlogs ran it as a standalone post and I got a lot of feedback. To be clear, the bill was...

Let's Come Together, and Take Control of the Appraisal Process 28

Take Control of the Appraisal Process

If the appraisers want to take back their industry they need to come together… This new law in NY has aroused a lot of comments from appraisers but let’s be honest. Appraiser have been complaining about AMCs for the last 10 years and waiting for the government, regulators and other to solve the problem with the whole AMC disaster. I have written about this before, the appraisers have no one to blame except themselves. If you wait for someone else to solve the AMC problem you are looking in the wrong place. We all know of the problems with AMCs...

REVAA Doesn't Like New NY AMC Law 50

REVAA No Fan of the New NY AMC Law

The NY State Coalition of Appraisers wants you to to know that there is a new AMC law coming into effect at the end of the month and REVAA doesn’t like it. Last December New York State Governor Andrew Cuomo signed Senate Bill S9080 into law, effective at the end of this month. REVAA‘s biggest concern is that it requires all valuations to be performed by appraisers AND invoices must be attached to the report so the consumer knows what the appraiser was paid. This is groundbreaking for our industry. Let’s hope that the word spreads and the consumer is...

Beware of Appraisers Point Solicitations 64

Beware of Appraisers Point Solicitations

Appraisers, a new ‘company’ with “Appraisers Point” in their name has been marketing their services via emails across the fruited plain lately, encouraging appraisers to sign up on their web site and pay an annual fee so that ‘you’ can get on a list to be presented to, or accessed by, unnamed lenders, who might, or might not, want your service. They have a very slick looking web site that makes them look legit. Appraisers Point has no location shown on their website, so in reality, it could be anywhere in the world. The email messages show a location in...

We the Owners Are the Only Ones that Can Fix Low Appraisal Fees 59

Customary and Reasonable Fees?

…appraisal firm owners roll up your sleeves & hold the line on fees… I have been the owner of HF Appraisal Ltd since 1993 and I have sat on the sidelines in regards to Customary and Reasonable appraisal fees. I can no longer stand by and read nor hear about this issue. It is amazing to me that over the past five to ten years our fees have remained the same and in some cases are lower than they were 10 years ago. The more that I read about this and talk to appraisers across the country in classes and...

What Will Happen to Clarocity Valuation Services? Clarocity Soap Opera 30

Clarocity Soap Opera

…so what will happen to Clarocity Valuation Services? VaCAP has been following the Clarocity Corporation Soap Opera since one of our members had trouble getting paid from them back in November of 2017. After doing a bit more research on them, we issued a warning to our members in December 2017 to pay attention as Clarocity was in financial trouble. We kept watching and alerted our members that many of the AppraiserLoft Executives were now at Clarocity. We shared Clarocity was borrowing money at a bought down rate of 24% and repaying in stock shares in lieu of cash; all...

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