Category: Appraisal News

Appraisers and Their Lack of Fees - Appraisal Cost 12

Appraisers and Their Lack of Fees

I feel it’s only prudent to put my ten cents, or more, in on the subject of actual cost, versus paid fees for appraisals After an overwhelming outpouring of response from appraisers all over the country, I am compelled to write a follow up article to “Appraisals and The Real Cost of Doing Business.” I must stress that my original intent was to highlight the ever increasing cost in all aspects of our industry, passed on to our clients, due for the most part to increased compliance requirements, additional staffing required to monitor said compliance, Dodd Frank rules, HVCC, TRID...

CONSUMER involvement with refi property value estimate ~copyright AppraisersBlogs.com 8

Consumer Involvement with Property Value

“Help” the consumer determine a value Appraisers, There is a little known provision in the new TRID mortgage loan application process that may become a future issue for appraisers, especially when the loan is for a Refinance. This is what the Loan Estimate, provided by the lender, requires the CONSUMER to do: You (the lender) must provide a Loan Estimate to the consumer, either by delivering by hand or placing in the mail, no later than three business days of the receipt of an application. An application is considered received when the consumer provides the following information: Consumer’s name, Consumer’s...

Number of Appraiser Trainees Applications Tell a Story 35

Number of Applications Tell a Story

Applications plummeted another 74% Recently the AQB held a public hearing in Washington DC regarding Alternative Experience Requirements and what to do about the anemic number of appraisers nationwide. I read their concept paper when it came out and I’ve read the testimony of those who submitted ideas. I didn’t attend and I didn’t offer up any written solutions. Back in 2005, I remember when everyone was so fired up about finally raising the bar, insomuch as formal education was concerned. They were going to make appraisers in the image of CPAs and lawyers. Four year degrees would be the...

Incorrect 1004MC Form Trend Reporting 22

Incorrect 1004MC Form Trend Reporting

Appraisers, I have ‘come in contact with’ an appraisal report, produced by a Certified appraiser and its Licensed Trainee – working in the area near my office. It’s clear to me that these two appraisers do not understand trend reporting that this form indicates. By the way, I’m no great fan of the MC form. However, since we are required to use it, we better darn well learn to use it properly. Report what the trends on it show and not something obtained from elsewhere, sometimes called “PFA.” If we don’t, or choose to ignore what the form shows, then the ENTIRE...

Reality check for appraisers 6

A Reality Check for Appraisers

I am not selling road-apples to my fellow appraisers… Appraisers as a group DO NOT PAY ATTENTION to what is going on within the profession OR seemingly unrelated areas that affect the profession. FNMA & Freddie ALREADY HAVE authority to fund loans without appraisals. This is in anticipation of an appraiser shortage. AI has appointed itself the ‘voice of all appraisers’ in America. They actually made the statement at the California TAF meeting in June that they speak for all appraisers interests AND that they put those interests of the entire profession above their own. (source-live meeting; TAF/ASB Redondo Beach...

Beginning of the end for Llano Financing Group LLC 3

The Beginning of the End for Llano

Llano on the losing end… We are happy to report that the walls are slowly tumbling down on Llano Financing and the Ganter brothers (Chris & Ben). If we sound biased it’s only because we are. When any entity like Llano is on the losing end of close to 100% of the cases in both state and federal court, it becomes very clear quickly to both the judiciary and the general public that something fishy is going on. Since our last update, here are some new pieces of information we have uncovered. We think you will find this very interesting...

Executive Summary in Appraisal Reports 11

Executive Summary in Appraisal Reports

Executive Summary Appraisers, I spent two days last week at the Appraisal Summit and Expo in Las Vegas – which was extremely well planned and presented – co-sponsored by the Columbia Institute and the National Association of Appraisers. Over those two days, in just about every topic presentation seminar, we appraisers were cajoled and implored to improve info we provide in reports to back up our stated value.  We were told that most reports reviewed by lenders are deficient in this aspect.  I admit that my reports need improvement in that kind of presentation – although over the years many...

Day Laborers Needed...Inquire at any AMC 6

Day Laborers Needed…Inquire at any AMC

Help Wanted – Day Laborers Needed …. Inquire at any AMC The Dodd Frank act requires the lender to be responsible for their agents. This means the lender is responsible for the actions of the AMC. Do the lenders know what their AMC’S are doing? Probably not. The Dodd Frank act also requires the most qualified appraiser be selected for each and every assignment. What vetting is done by the AMC’S to ensure the most qualified Appraiser is selected? Many AMC’S have the false mentality every appraiser is qualified and competent to appraise every piece of real estate. This simply...

MC Form and Incorrect Reporting of DATA 3

MC Form & Incorrect Reporting of DATA

Appraisers, Wednesday last week (11/18/15) WorkingRE published, via their e-Newsletter, an article I submitted to them as an ‘exclusive.’  I was in a jet to Las Vegas to attend the Appraisal Summit & Expo that day.  In case you did not see the article, I’m letting you know about it here. You can access the WorkingRE version of the article here. I want to thank those appraisers who left comments on the WorkingRE site, included below the article, and to those appraisers who wrote me directly. Getting feedback is critical, and appreciated. And kudos to Isaac Peck, Editor and David Brauner, Publisher,...

Valu+ Logo Powered by NDC 3

Valu+ Discounted for AppraisersBlogs Readers

NDC’s Appraiser Product is now Valu+ with exclusive 20% off for all Appraiser Blog Readers. Valu+ is a standalone valuation product under the NDC Brand. San Diego, CA: In the appraiser data market there has been one constant for many years, NDC. Until now NDC was both the name of the business and the research product supplying thousands of appraisers and real estate leaders with accurate public records data on over 130,000,000 parcels of land. NDC is evolving and growing rapidly and because of this growth we are excited to announce that the NDC research and valuation product will be known...

xml sitemap
blank