Author: AppraisersBlogs

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Free FHA Webinar for Appraisers on Property & Appraisal Frequently Asked Questions

The Federal Housing Administration (FHA) is offering a webinar on January 22, 2013 on Property & Appraisal Frequently Asked Questions (FAQs): January 22, 2013: – Webinar: Property & Appraisal Frequently Asked Questions (FAQs). This FREE introductory webinar addresses the most common questions FHA receives from underwriters and appraisers on single-family property-related issues. The topics covered include: flipping, appraisal validity period,

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

ASA, NAIFA File Comments Regarding Appraisal Complaint Hotline 1

ASA, NAIFA File Comments Regarding Appraisal Complaint Hotline

The establishment of an appraisal complaint hotline… The American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers (NAIFA) appreciate the opportunity to jointly comment on the Paperwork Reduction Act implications of the establishment of the Appraisal Complaint Hotline system mandated by section 1473 of Dodd-Frank. Although we understand that the public will have an opportunity to comment on the appraisal complaint form itself when it is proposed (described as “the Interagency Appraisal Complaint Form”), we believe the agencies’ October 22nd Federal Register request for comment provides our organizations (and other stakeholders) with an important opportunity to...

American Society of Appraisers / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

Filing a Complaint Against ES Appraisal Services 0

Filing a Complaint Against ES Appraisal Services

Filing a Complaint Against ES Appraisal Services With Arizona Board of Appraisal The Board of Appraisal has received information that ES Appraisal Services, registration #40150, has filed for Chapter 7 bankruptcy and is closing its doors for business. If you have an open invoice on an appraisal completed for ES Appraisal Services in Arizona, which is past the 45 days required by statute, please file a complaint with Rebecca Loar at the Board of Appraisal by January 11, 2013. A.R.S § 32-3675. Payment EXCEPT IN CASES OF BREACH OF CONTRACT OR SUBSTANDARD PERFORMANCE OF SERVICES, EACH APPRAISAL MANAGEMENT COMPANY SHALL...

ABOA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Evaluation Solutions ES bankruptcy 7

Evaluation Solutions Closes Its Doors

Evaluation Solutions, ES Appraisal Services in bankruptcy… Another AMC is closing its doors. Evaluation Solutions, ES Appraisal Services is in bankruptcy. Appraisers who have been inquiring about money owed to them, are receiving emails stating “Due to unforeseen circumstances Evaluations Solutions, ES Appraisal Services is ceasing operations” and “any inquiries should be directed to Bradley R. Markey…” The following is a letter from their bankruptcy attorney, Stutsman Thames & Markey, P.A.: Our firm has been retained to file a Chapter 7 bankruptcy proceeding for the company. Evaluation Solutions lost its major client earlier this week and was forced to shut...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / ES Appraisal Services

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Possible USPAP Changes

The Uniform Standards of Professional Appraisal Practice (USPAP) is always a work in progress. If you haven’t heard, the Appraisal Standards Board (ASB) is hard at work considering potential changes for the 2014 –’15 edition. On Aug. 15, 2012, the Board released a second exposure draft covering these proposed changes. The ASB’s work plan for the 2014-’15 edition of USPAP includes reviewing and revising as needed the following areas of USPAP: Reporting and Communication Requirements Reporting Options Retirement of Standards 4 and 5 Other revisions and additions as needed to ensure clarity and relevance The deadline for comment on this...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB / The Appraisal Foundation

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3rd Exposure Draft: 2014-2015 USPAP

Third Exposure Draft of the Proposed Changes for the 2014-2015 Edition of the Uniform Standards of Professional Appraisal Practice The goal of the Uniform Standards of Professional Appraisal Practice (USPAP) is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. With this goal in mind, the Appraisal Standards Board (ASB) regularly solicits and receives comments and suggestions for improving USPAP. Proposed changes are intended to improve USPAP understanding and enforcement, and thereby achieve the goal of promoting and maintaining public trust in appraisal practice. The ASB is currently considering changes for...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB / The Appraisal Foundation

Appraisers Evaluations Guide 0

Evaluations for Lenders & Appaisers

Appraisal Institute Helps Appraisers Perform Evaluations for Lenders The Appraisal Institute’s “Guide Note 13: Performing Evaluations of Real Property Collateral for Lenders” addresses how appraisers should prepare an evaluation for a lender and comply with the Uniform Standards of Professional Appraisal Practice. The Guide Note states, “Federally insured lending institutions in the United States are subject to regulations regarding real estate appraisals. For lending transactions involving real estate, a lender must obtain an appraisal from a state licensed or certified appraiser. There are 12 exemptions from this requirement. For three of these exemptions, in lieu of an appraisal by a...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

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Charging by the Hour for Appraisal Services?

How much are you worth per hour? I am fuming. Thanks in advance for letting me vent and virtually ‘throw-up’ my frustration all over you. My Personal Assistant accepted an order for a Forensic Investigative Field Review the other day. Originally, the AMC had offered a fee of $350. We countered back at $500 and crossed our fingers… that we would NOT get the order. These types of orders are becoming more and more popular. As the market has dropped across the nation, lenders cannot sell the collateral they loaned on between 2005 and 2008 for a fraction of the appraised value. Naturally, it must be...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

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Over 275 Websites for Property Assessment and Valuation

Selected Internet Resources for Property Assessment Administration and Tax Professionals Property tax consultant Richard Sanderson has had more than 30 years experience in property tax administration and has valued some of the most complex properties for tax purposes over the years.  He has just compiled and released a 24 page resource guide for property assessors, appraisers, tax professionals, and others interested in property valuation and tax policy. Entitled “Selected Internet Resources for Property Assessment Administration and Tax Professionals” the guide includes more than 275 websites that are very useful to: Academics in the field of local government administration and tax policy...

Appraisal / Appraisal News / Appraisers News

Lenders May Still Profit Most from Appraisal Fees 2

To Disclose or Not to Disclose AMC Fees

To Disclose or not to Disclose AMC Fees… With the Consumer Financial Protection Bureau (“CFPB”) up and running, there are numerous regulatory issues still pending relating to the Dodd-Frank Act. The regulatory issues include appraisal independence rules, AMC fee disclosure, AMC registration, required physical property visit by appraisers in “higher risk” mortgages, HUD-1/RESPA Consumer Disclosure, and asset backed securities. Of particular note, the CFPB has proposed a new Consumer Disclosure form that is intended to replace the HUD-1 settlement statement. The proposed rule which was release for public until November, allows disclosure of appraisal management company fees, but does not...

AI / AMC / American Society of Farm Managers and Rural Appraisers / Appraisal / Appraisal Institute / Appraisal Management Companies

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