Ann O'Rourke - Chief Appraiser & Publisher of AppraisalToday

UAD and Forms Redesign

Ann O'Rourke — Wed, 06 May 2020 12:30:26 +0000

Last year the hot topic was Appraisal Modernization – mostly bifurcate appraisals and UAD changes. In late 2019, FHFA decided to not do much more on bifurcated. However, the GSEs have been working on UAD fields. There is an active work group of appraisers advising the GSEs on UAD changes. There has been a sample of what is being worked on floating about the internet. Per Danny Wiley, Senior Director of Single Family Valuation at Freddie Mac since 10-19, in a Facebook post, this a very preliminary UAD list and is not to be relied on as representing what will...

Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…
How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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CA Appraisers 50% Decline & Fees Up 76%

Ann O'Rourke — Fri, 03 Jan 2020 13:30:53 +0000

The Number of CA appraisers drops from 20,120 to 9,987. Renewal fees up 76% for 2020. Excerpt: It’s time to assess and reflect on the numbers as the decade ends. It’s noteworthy that the total population of Bureau of Real Estate Appraisers (BREA) licensees has now fallen below 10,000 for the first time since the Bureau began keeping records. The numbers reflect some interesting trends. Licensee population counts vary daily as licenses are granted and others expire, so this data is a recent snapshot in time. Also, approximately 7% of licensees are trainees, 8% report out-of-state addresses, and some percent...

The Future of Residential Lender Appraisers What if you don't want to do desktop bifurcated appraisals or the very tough appraisals that don't work for AVMs?…
The Reality There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

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The Future of Residential Lender Appraisers

Ann O'Rourke — Fri, 01 Feb 2019 13:30:15 +0000

What if you don’t want to do desktop bifurcated appraisals or the very tough appraisals that don’t work for AVMs? Or, wait, once again, for the lender market to finally come back. There are many forces trying to get field appraisers out of doing full valuations for mortgage loans. Automation and Artificial Intelligence will increase this trend, as it has done in other professions. For example, Quicken dramatically decreased demand for manual bookkeepers. Once lenders can determine which properties will work with an AVM, there will be fewer human appraisals. Recently, several appraisers emailed and called me saying their non-lender...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

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Is it jUSt PAP?

Ann O'Rourke — Wed, 17 Jan 2018 13:30:15 +0000

…standards written in weasel words… Appraisal is not rocket science, but it’s been around for about 300 years and it worked pretty well when the principles were kept simple and the consequences for ignoring them were disastrous. It would also have been nice if individual lending institutions still had to hold their own loans into perpetuity. The “Just Pap” is more unpopularly known as the Uniform Standards of Professional Appraisal Practice, which came into being after the last big residential mortgage greeding frenzy (the failure of S&Ls in a 17%-mortgage-rate environment during the late 1980s). Before your friendly author proceeds...

USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
The One-Mile Rule: Prudent Policy or Modern Day Redlining? ...whether through redlined maps or implicit "one-mile rule," the result can be undervalued properties in historically marginalized neighborhoods. Throughout the…
Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…

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Ann O'Rourke - Chief Appraiser & Publisher of AppraisalToday

UAD and Forms Redesign

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CA Appraisers 50% Decline & Fees Up 76%

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The Future of Residential Lender Appraisers

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Is it jUSt PAP?

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