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comments 12

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....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Quality Monitoring / Appraisers News

Some good news for a change 2

Some Good News…For a Change?

Some Good News…For a Change? – 2nd Annual List (A Work-In-Progress) Last year, around Thanksgiving, I had put together a list of some positive things going on for appraisers. It was/is all-too-rare that we hear positive news regarding the appraisal profession. There is an awful lot of complaining that goes on, most of it justifiable, but little good news that gets shared. Part of the problem is that there is no central source for information regarding our profession which appraisers might utilize in order to find out what is going on across the country and affecting our profession, and could be used to...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

There are no reported sales! Now what? 2

There are no reported sales! Now what?

How many times have we, as reviewers, heard the following: “But there aren’t any sales within the subject’s development.” Or, “But the subject is the finest house in its development.” Of course there are rare instances when this is true; however, even in the instance where there are no sales that have taken place in the subject’s development within the last 12 months, the appraiser should be able to show sales at some previous point in time if the development is not newly developed. New construction appraisals will be a topic for a future post, but for the sake of...

Appraisal / Appraisal News / Appraisers News

Fannie Mae re-evaluate appraisers adjustments 1

Fannie Re-Evaluating Your Adjustments & VA Hiring Appraisers

Fannie Mae’s Murphy stated that over the past year, the GSE had been focusing on “quality” and “condition” ratings of comps used in multiple appraisals by the same appraiser and found many cases where the appraiser has changed the quality and/or condition ratings on the same comparable from appraisal to appraisal. Now, based on the examination of the Uniform Appraisal Dataset (UAD) data, Fannie Mae’s focus for the next 12 months will be on adjustments. The data indicates that many appraisers are not using…

AMC / APB / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Like Type Properties - comparables 1

Like Type Properties

Without finding the proper comparables, an appraiser is easily challenged.. Very recently, I was presented with an appraisal report that was actually a fourth revision. The appraiser had accurately completed a report and submitted the report for consideration to the lender, then over the next six weeks apparently, was barraged with a continual flow of reconsideration requests and alternative comparables, until the report appraiser finally felt pressured enough not only to re-grid alternative comparables, but also to change the opinion of value by almost 20%. I was involved in a quality assurance review and, fortunately for the appraiser, was able...

Appraisal / Appraisal News / Appraisers News

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Land of Canaan: 1st Appraisal Began 3,200 Years Ago

Is the land fertile or barren? The practice of real estate appraisal began about 3,200 years ago. We learn this from the Book of Numbers, Chapters Thirteen and Fourteen. God commanded Moses to commission one person from each of the twelve tribes, “to make a reconnaissance” of the Land of Canaan, now Israel. Each person chosen was a leader within his tribe. His selection was based on sincerity of purpose, integrity, honesty, wisdom, judgment, and knowledge. Each leader was capable of guiding the course of this important assignment. A Leader is “one who goes first.” These appraiser were to “scout”...

Appraisal / Appraisal News / Appraisers News

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You Are Being Robbed Blind

You Are Being Robbed Blind (24 Hour Membership Deadline) AMCs are concealing their profits within YOUR appraisal fee, and using coercion to drive down YOUR income as far as they can. This government-permitted process allows them to rob you blind while building their appraiser-squeezing power even stronger. NOW is the time to take a stand to fix this broken industry and the career you have spent a lifetime building. The Appraiser Prosperity Coalition was formed to fight for the legislative and regulatory changes needed to save this devastated industry. If you are willing to join us today, we can defeat the...

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

The good old days appraising 5

Good Old Days of Appraising!

Missing the Good Old Days Does anybody miss the good old days of having to deal with the mortgage broker? After spending about 53 minutes on the phone with an appraisal management company, who will remain nameless, I am almost missing the good old days myself. I originally called, because the appraisal management company called to see if I would take a forensic retrospective review for a new client they just acquired. This of course is a Fannie Mae client, and any of us who have dealt with Fannie we know there is a specific format, guideline and style in...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac

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Minimum Requirements for AMCs

Proposed Federal Regulation of Appraisal Management Companies (Minimum Requirements for AMCs) I hear a lot from appraisers concerning their interactions with various appraisal management companies (AMCs). Many keep wondering why appraisers are licensed and strictly regulated while it seems that AMCs for the most part have been left to do whatever they want. That was the case for a while; today the majority of states have already imposed regulations on AMCs. Currently, as part of the Dodd-Frank Act, a group of agencies are working together to set federal guidelines for AMCs. They are looking for feedback on these proposals and...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / CFPB

Good news appraisal profession 5

Good News….For a Change?

Appraisers to be paid within… It is all-too-rare that we hear positive news regarding the appraisal profession. There is an awful lot of complaining that goes on, most of it justifiable, but little good news that gets shared. Part of the problem is that there is no central source for information regarding our profession which appraisers might utilize in order to find out what is going on across the country and affecting our profession, and could be used to enhance our industry and our citizens in our own state. From what I have seen, most of any good news is being...

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