Monthly Archive: September 2019

We Became Complacent... Appraisers Are to Blame - Appraisers Blogs 33

We Became Complacent

We raised a fuss when it first came out, but we became complacent and accepted what was being dictated to us. Appraisers are supposed to be messengers of the market, right? If that statement is accurate, the question everyone needs to be asking is why appraisers are not allowed to do their jobs? Without getting into a lot a finger pointing and blame, I am just going to come right out and say it. Appraisers are to blame. Not because appraisers wanted to influence the market, but we allowed others to take control and we sat by and did nothing....

Price Fixing & Discrimination - FNMA & FHLMC Bond Price Fixing Claims 7

FNMA & FHLMC Bond Price Fixing Claims

Are the profits being reported by Fannie and Freddie being skewed because of price fixing? In an article released on CNBC by Reuters, US District Judge Jed Rakoff ruled investors can pursue antitrust claims against banks for conspiring to fix prices of bonds from Fannie Mae and Freddie Mac. According to the article, there are transcripts of chat room discussions that prove a conspiracy to price fix mortgage backed bonds from Fannie and Freddie between January 2009 and January 2016. Rakoff wrote. The chats unmistakably show traders, acting on behalf of those defendants, agreeing to fix prices at a specific level before...

Evaluations Concept Paper, Bringing Evaluations Under USPAP Umbrella 5

Bringing Evaluations Under USPAP’s Umbrella

Evaluations: Concept Paper, Webinar, Public Meeting In early August, The Appraisal Foundation announced that the The Appraisal Standards Board would be considering adopting standards for evaluations in the Uniform Standards of Professional Appraisal Practice (USPAP). On September 3, 2019, they announced three opportunities to learn more and share your insights. Concept Paper The Appraisal Standards Board is seeking your feedback on the concept of developing standards for performing evaluations in USPAP. Submit your comments to ASBcomments@appraisalfoundation.org. The comment period closes on October 11, 2019. Read the evaluations concept paper here Webinar Wayne Miller, chair of the Appraisal Standards Board, and...

Computershare 15 Minutes Appraisal Reviews & Cheap Diapers 10

Computershare Reviews & Cheap Diapers

The resulting “outcome” of those cheap diapers is the same outcome as Computershare 15-minute reviews must be… This didn’t start out as an article, but you know me. Doing research prior to posting in the 100% comments board I was shocked at how pervasive this new ‘service’ already is. A simple blog post can’t begin to cover it. Every single reader needs to research their own states requirements. The AMC at the following link makes this easy. Please look your state up. My concern was with Computershare and Colorado. Feel free to look them up by clicking here. If that doesn’t...

$15 USPAP Appraisal Reviews in 15 Minutes? - Appraisers Blogs 36

USPAP Appraisal Reviews in 15 Minutes?

$15 USPAP Appraisal Reviews in 15 minutes? A VaCAP member shared with us something they read in an appraiser group on Facebook last week and expressed concern. We agree there is a reason to be concerned and want to alert our members to be cautious. We do not know if the source of this request is an amc or a lender, but either way, there is reason for concern. Here is what was shared: “I have been diligently looking for appraisers to complete to do our NEW USPAP reviews. These pay $15 per report and are completed in 10-15 minutes....

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