Category: Appraisal

Appraisal news and appraisal tips for real estate appraisers – Your source for appraisal industry news, appraisers’ opinions, and discussions of appraisal issues

AMCs Overcharging Consumers? Morgan & Morgan Investigates 39

AMCs Overcharging Consumers? Morgan & Morgan Investigates

Morgan & Morgan, a prominent law firm, is currently investigating the practices of Appraisal Management Companies (AMCs) and their potential role in driving up the cost of appraisals for consumers. The firm is actively seeking input from individuals who believe they have been overcharged or misled about the allocation of their appraisal fees between the AMC and the appraiser. At the heart of this investigation lies the concern over a lack of transparency, inflated costs, and questionable value that AMCs bring to the appraisal process. The Appraisal Regulation Compliance Council (ARCC) has conducted extensive research on this matter, revealing alarming...

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

Class Action Lawsuit of Targeted Appraisers 28

Class Action Lawsuit of Targeted Appraisers

Join me in this class action lawsuit and help take a stand against HUD and the wrongful persecution of appraisers.  Nationwide Call to Action: Seeking Legal Representation for Class-Action Lawsuit Against HUD Investigations For over two Years I have been subjected to systemic abuse, unwarranted investigations, and procedural violations at the hands of the Department of Housing and Urban Development (HUD). My name is Kenneth Mullinix, and I am an experienced VA-approved appraiser who has been targeted in a series of baseless investigations that have severely damaged my career, reputation, and personal well-being. Despite being cleared by other authorities after...

Appraisal / Appraisal News / Appraisers News / HUD / The US Department of Housing and Urban Development / Trending

Data Cancer Infecting the Real Estate Market 66

Data Cancer Infecting the Real Estate Market

They have created the phenomenon known as “data cancer” which reduces an appraisal to a rubber stamp that contaminates the comps used for future sales.  The ability to do an appraisal for Fannie Mae or Freddie Mac is getting rarer these days now that the GSEs are waiving appraisals on the majority of transactions. Despite drones being everywhere and the GSEs being in receivership, the latter is desperate for higher loan volumes to feed their origination infrastructure. Higher mortgage rates have crushed refinance loan volume and slowed sales volume. What can the GSEs do to increase mortgage volume? Remove appraisals...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Snippets / Trending

Appraisers Freed from DEI Propaganda 179

Appraisers Freed from DEI Propaganda

This bold move immediately resulted in the removal of all appraisal bias propaganda from the official whitehouse.gov website.  With a few swift strokes of the pen, President Trump has dismantled the divisive and misguided diversity, equity and inclusion (DEI) apparatus that had taken root across the federal government. On just his second day in office, Trump ordered the closure of all federal DEI offices, placing their employees on paid leave and signaling a decisive end to the era of government-sanctioned social justice activism masquerading as fairness and equality. This bold move immediately resulted in the removal of all appraisal bias...

Appraisal / Appraisal News / Appraisers News

The Shadowy AMC Fees Draining Billions from Homebuyers 156

The Shadowy AMC Fees Draining Billions from Homebuyers

The hidden costs of appraisal management companies (AMCs) in the real estate industry have faced growing scrutiny, as highlighted by a recent Business Insider article titled “The Hidden Middleman who cost homebuyers $12 billion dollars and counting.” The article examines the opaque practices of AMCs, which frequently charge exorbitant fees that can exceed the amount paid to the appraiser. As highlighted by former Appraisal Institute CEO Cindy Chance, this issue has faced significant resistance from entrenched interests, mirroring the challenges faced in other industries such as the pharmacy benefit manager (PBM) sector, which ultimately led to an FTC investigation. The...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal Organizations

Appraisal Industry Outlook Under Trump Administration 64

Appraisal Industry Outlook Under Trump Administration

In a recent article, John D. Russell, JD explored the potential impact of the new Trump administration on the appraisal industry. With Republicans set to control the legislative process, Russell analyzed various documents and comments to distill expectations for how appraisal-related issues may be handled going forward. He noted that the Trump administration’s efforts will likely reflect much of the Project 2025 platform, and that its approach to the GSEs and FHFA in the first term could mirror that of the previous administration. Late first-term efforts on housing finance reform may also provide insight into second term priorities. Regarding the...

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

The New Con: Hybrids, Waivers & AMCs Threaten Public Trust 66

The New Con: Hybrids, Waivers & AMCs Threaten Public Trust

Hybrid Appraisals, Appraisal Waivers and Appraisal Management Companies are the new Con.  Last month marked the 7-year anniversary of Appraiser Fest. The conference was truly like nothing that had been done before. It was organized by appraisers for appraisers. The agenda was more about bringing the profession together and protecting the public trust. Appraiser Fest was not about promoting the profit of others at the expense of appraisers; nor was it about hiding the unchecked facts of fraud and ill doings against consumers. It was about public awareness and trust. It all started with a renewed sense of energy with...

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

Outrage Over New Connect by ValueLink Monthly "Junk Fee" 53

Outrage Over Connect by ValueLink’s New Monthly “Junk Fee”

The recent announcement from Connect by ValueLink has sparked outrage among appraisers. Effective January 1, 2025, the company plans to institute a new $19.99 monthly user fee for all appraisers utilizing their portal to receive and submit appraisal orders. This fee will be in addition to the existing technology fees already charged on a per-appraisal basis. Understandably, many appraisers are up in arms over this development, viewing it as yet another “junk fee” that will only serve to erode their already-thin profit margins. What makes this particularly galling for appraisers is the fact that it is often appraisal management companies,...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software / Appraisal Technology

ARCC Discussion Exposes GSE Agenda to Reduce Appraisal "Friction" 27

ARCC Discussion Exposes GSEs Agenda to Reduce Appraisal “Friction”

Mark Calabria’s discussion with ARCC revealed the GSEs’ agenda to reduce “appraisal friction” by eliminating the role of professional appraisers and the appraisal process altogether.  The recent discussion hosted by the Appraisal Regulation Compliance Council (ARCC) with Mark Calabria, the former Director of the Federal Housing Finance Agency (FHFA), offered a rare and illuminating glimpse into the inner workings and mindset of the nation’s housing finance regulators. During the engaging conversation led by ARCC Chair Josh Tucker, Dr. Calabria shared his expert perspective on FHFA’s controversial decision to significantly increase the use of appraisal waivers, which allow mortgage lenders to...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Federal Housing Finance Agency / FHFA

Is a Horde of Deadbeat Borrowers Again Walking Among Us? 8

Is a Horde of Deadbeat Borrowers Again Walking Among Us?

There are signs of a new horde of deadbeat borrowers, but the foreclosure filings are being delayed and masked by the government itself. Some of the current deadbeat borrowers will learn to expertly work the system…  In 2022, a San Ramon, California, couple who hadn’t made a mortgage payment since 2009 was finally evicted. Anita and Mahesh Khurana had put on a masterclass in the use of the courts to keep foreclosure at bay. The holdouts had lived in their home payment-free for 13 years. A state court finally ruled they had exhausted all appeals, and they were ejected. In...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / Fannie Mae - Freddie Mac

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