Category: Appraisal Management Companies

MISMO, Appraisal Data Mining, Hybrids, and Other Fraud Facilitators 16

Who’s to Blame?

Looking at who and what MISMO Directors are, is it a surprise that FNMA included language in basic appraisal forms resulting in appraisers having infinite liability and no ownership over their own work product IF they do work for FNMA?… European Union General Data Privacy Regulations (EU GDPR) may seem like a stretch for an Appraisers Blog topic, but please bear with me. For some time now, The Appraisal Foundation has been focusing on major international valuation issues other than real estate appraisals. IVSC is one of the bigger and most detrimental misdirection’s they’ve taken as far as impact on...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Prizes Awarded for Correctly Identifying AMC in Appraiser Contest 37

Appraiser Contest

…multiple prizes will be awarded…correctly identify this LandSafe-like wannabe to win ANNOUNCING NEW APPRAISER CONTEST! Look at the following time requirements from one national [anonymous] AMC. These requirements are so outrageous that advance disclosure to their clients should be a requirement that their policies suborn appraisers to ignore USPAP and encourage appraisers to take improper short cuts. Here’s the challenge… I have redacted the name of this unprofessional company that appears to think their drive to offer what their competition cannot, (or more likely won’t) warrants promoting subpar appraisal practices. All you have to do is correctly identify this LandSafe-like...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Fee Is Non-negotiable - Help Wanted - Wanted Fast & Cheap Appraisers 42

Help Wanted

…fee is non-negotiable… Real Estate Appraisers REQUIREMENTS Active appraiser license, preferably certified, a computer, appraisal software, MLS, E&O insurance, dependable vehicle, camera, smart phone, a background check (by us) because the one your state requires every year is just not good enough and good communication skills (see smart phone requirement). JOB DESCRIPTION You will be responsible to perform valuations subject to 30 pages of requirements set forth in the engagement letter. We will require availability always to answer our redundant calls and emails. Special note: if you live in ND and have a license in GA, TX, and NJ you...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software / Appraisers News

The Weird Science of Appraisal Technology - AppraisersBlogs 7

Weird Science

…technology to make a doll real? Remember the movie Weird Science where the two guys develop technology to make a doll real? If you’re my age, I’m sure you do. If not get to googling Kelly LeBrock. She did some amazing things. She looked great, was sexy and had odd powers that turned the older brother into a pile of emoji poop. Weird huh? Everything about her was amazing on the outside, but something was weird. That’s how I feel about new technologies that AMCS, Zillow and others have offered the public. On the outside, it looks great but what’s really happening...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Technology / Appraisers News

REVVA Reacts to FHFA Study RE AMCs' Appraisal Quality 8

REVAA Reacts to FHFA Study

…the methodology, measures of quality, errors & the insertion of staff opinion seems to indicate bias…. REVAA responds to the FHFA study indicating AMCs bring little value. Mark Schiffman, Executive Director of REVAA, stated to Jacob Gafney, Editor of HousingWire, via email: “We are disappointed that AMCs and lenders were not consulted at the outset of this research so that we could have help ensure sound methodology. We are also disappointed not to have had the chance to discuss this research with the FHFA before it was distributed publicly. This is not a final report of any kind from the FHFA,...

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

Appraisers Ditching a la mode After News of Corelogic's Acquisition 216

Appraisers Ditch a la mode

In 2015, Dave Biggers of a la mode stated: I’ll wrap up by wishing you a happy new year, in spite of all the recent fear mongering, and by thanking you for supporting us with your business. I’m confident that in 2015 you’ll see even more reasons for that loyalty, especially in terms of us continuing in our long-standing role as the independent appraiser’s staunchest advocate, and in being the most innovative, reliable, and accessible technology provider. We look forward to working with — and for — all of you this year. Time and time again, we were assured that...

a la mode / ACI / AMC / Appraisal / Appraisal Management Companies / Appraisal News

How the Agreement Between CoreLogic & the FTC Impacts Appraisers 15

FTC vs Corelogic

…how the agreement between CoreLogic and the FTC from 2014 impacts appraisers… The FTC vs CoreLogic: Why it is important to Appraisers Some appraisers have reached out to VaCAP asking how the agreement between CoreLogic and the FTC from 2014 impacts appraisers. VaCAP wants to highlight the case and provide some key points of reference. The agreement revolves around the purchase of DataQuick by its competitor CoreLogic in 2014. The FTC at that time allowed the transaction with some parameters in which CoreLogic agreed to. See the analysis of the agreement here. A summary of the parameters are below: CoreLogic...

ACI / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Round and Round... 10 Years Later Lender Pressure is Happening Again! 42

Round and Round!

Round and Round, what comes around goes around & 10 years later it’s happening again. I’m a 43-year-old guy and I grew up in the 80’s when music was odd and fun. I had some favorite bands like Def Leppard, Guns N Roses, Bon Jovi (hello I’m from NJ) and Ratt. Yes, Ratt and one of my all-time favorite songs is Round and Round. Here’s the throwback: Ratt – (Official Video) Round And Round Funny, it’s relevant to me today in the valuation, regulatory and real estate appraisal sectors. One specific lyric offers so much insight into the Lender/ Real Estate Appraisal...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Know How Much You Are Paying for an Appraisal? - AppraisersBlogs 42

What’s Not in Your Wallet?

Shouldn’t consumers know where their money is going to? Before the housing collapse, when applying for a loan, you would go to your bank or mortgage broker and apply. Upon approval, they would explain the property would be appraised by a real estate appraiser and as the borrower, the cost of the appraisal was to the borrower (even though the appraisal is for the lender). The appraiser would either bill the lender the cost of the appraisal or coordinate payment when the appraiser was at the house. Sometimes, the lender would pay for it and roll it into your mortgage...

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

Appraisal Lock, A safe and Secure Way of Getting Paid - AppraisersBlogs 17

Appraisal Lock

Appraisal Lock… a Safe and Secure Way of Getting Paid Deliver your .pdf, .xml and .env files to your clients and get paid instantly! The Virginia Coalition of Appraiser Professional’s Exclusive Announcement April 1, 2018 is a security overlay attached to your appraisal report locking your report from opening until payment is made. Here is how it works: After installing our program, simply choose the Appraisal Lock® Print option. Fill out the client’s information and the amount of your invoice. Appraisal Lock® delivers your report securely locked until payment is made. Payment is deposited directly into your bank account. We have...

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

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