by AppraisersBlogs · Published June 17, 2013 · Last modified November 3, 2021
Keeping a current appraisal customer (AMC, local bank, lawyer, real estate agent, etc.) should be a higher priority to you than digging up new ones. What are you doing to keep your current customers? Are you reaching out and ‘touching’ them often?
by AppraisersBlogs · Published June 10, 2013 · Last modified May 22, 2022
3 Ways Hiring a Trainee Can Help Your Business It would likely come as no surprise to most appraisers at this point that with the changing demographics and aging of the valuation profession, attracting the next generation remains crucial to the future. With the many opportunities for employment and continued growth, the benefits for those considering pursuing an appraisal career are clear. The advantages to an experienced real estate appraiser of hiring a trainee may be less apparent, but they are no less significant. While there is undoubtedly significant work and time commitment upfront, hiring a trainee can reap long-term...
by Peter Christensen · Published June 6, 2013 · Last modified March 6, 2017
As a direct result of the recent financial failure of appraisal management companies like Evaluation Solutions and ES Appraisal, the State of Washington recently enacted a new law raising the state’s AMC bond requirement from $25,000 to $100,000. As of July 28, 2013, all AMCs registered in Washington will be required to carry a bond in the new amount. One of the purposes of the bond is to provide security for payments owed to appraisers by AMCs. If an AMC fails to pay an appraiser in accordance with Washington’s requirements, the appraiser then may have a claim against the AMC’s bond....
by Peter Christensen · Published May 31, 2013 · Last modified March 6, 2017
Overtime Lawsuits Continue to Spread Among Valuation-Related Companies — Interthinx Becomes the Latest Defendant First it was Integrated Asset Services. In February, I wrote here about three employee overtime class actions affecting the Colorado AMC filed on behalf of “timeline managers,” “valuation managers” and “quality reviewers.” Then it was LandSafe Appraisal. In April, I wrote an article about a newly filed overtime lawsuit by staff appraisers against that company. There is definitely now a small wave of overtime litigation unde the federal Fair Labor Standards Act (FLSA) affecting businesses in valuation-related fields. The industry has become an easy target for...
by Brian L. Trotrier · Published May 28, 2013 · Last modified March 6, 2017
New tactic by the NAR and NAHB to get appraisers to “play ball” CNN Money recently published a piece (located here) titled “Home appraisals no longer derailing sales”, a quote generically attributed to members of the National Association of Realtors (NAR). What struck me as a bit odd was the fact that just about a year ago, the NAR in conjunction with the National Association of Home Builders (NAHB) stated in another article on home sales and appraisals that roughly 1/3 of the deals placed into contract by its realtor members were failing to close due to problems getting appraisers...
by AppraisersBlogs · Published May 23, 2013 · Last modified February 7, 2018
In April of 2013, Fannie Mae released its updated Selling Guide. “Appraiser Independence Requirements” and “Appraiser Selection” sections were updated…
by AppraisersBlogs · Published May 22, 2013 · Last modified June 30, 2013
If you were affected by the bankruptcy of ES Appraisal Solutions then this is a must for you. JP Morgan Chase is filing a request for entry of Bar order with the Florida Courts. What this means is that JP Morgan Chase is trying to settle for $2,316,000. They then would not be liable for any other lawsuits or claims against them in the future regarding any appraisals or BPOs completed. Which means we will NEVER see a dime from the money owed to us. The deadline to file this objection of the bar is
by AppraisersBlogs · Published May 22, 2013 · Last modified July 23, 2017
It has come to my attention that the attached settlement is being proposed to the BR Trustee in the ES Appraisal case and thought that it was important that the information be passed along to whomever might need it since many of our members have been affected. Please forward to whomever you believe might be owed fees in this case. I would recommend that anyone do their own research on this as I am only passing along information that was given to me third hand. It is the belief of others that this agreement will forgo millions of dollars in...
by AppraisersBlogs · Published May 21, 2013 · Last modified May 22, 2022
2014-15 USPAP updates In the organization’s latest YouTube video, the Appraisal Institute invited Paula Konikoff, JD, MAI, chair of the Appraisal Institute’s Professional Standards and Guidance Committee, to discuss 2014-15 USPAP updates, including the process the Appraisal Standards Board used to adopt the latest edition of USPAP, the new Report Options that will be part of the 2014-15 edition of USPAP, and other changes made that might impact appraisers. The Appraisal Standards Board adopted the 2014-15 edition of the Uniform Standards of Professional Appraisal Practice, commonly known as USPAP, in February of 2013. Beginning in early 2012, the ASB released...
by Guest Author · Published May 20, 2013 · Last modified April 11, 2022
Hire an Independent Property Appraiser for an Unbiased Evaluation Dealing in real estate requires a lot of knowledge about property markets. Not all buyers and sellers are well-acquainted with such matters. In such cases, it becomes important to hire a third party like a property appraiser who holds expertise in such matters. Why an Appraiser? Involving a property appraiser brings an element of impartiality in property dealings. When you deal directly with the opposite party
Sign the Open Letter to AMCs. The goal is to raise much needed awareness and support to change the broken AMC model within our industry.
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