Category: Appraisers News

The Louisiana Real Estate Appraisers Board Holds the First Hearing for AMC’s Not Following the Laws and Rules for Determining Minimum Reasonable and Customary Fees - Imagecredit Flickr - GotCredit 0

CFPB Appraisal Fees

ASA has repeatedly stated its belief that the Fed’s interpretation and the massive loophole it created ran contrary to the plain language and clear intent of Dodd-Frank. CFPB Reissues Interim Final Rule On Valuation Independence, Eliminates Federal Reserve Commentary Permitting AMCs To Include Their Own Payments To Appraisers To Comply With Dodd-Frank’s Customary and Reasonable Fee Requirement. On December 22, the Consumer Financial Protection Bureau (CFPB) released an Interim Final Rule dealing with the valuation independence requirements imposed by the Dodd-Frank Act, including the law’s “customary and reasonable” fee mandate. The CFPB’s rule was republished to reflect the transfer of...

AMC / American Society of Appraisers / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News

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Putting Your Licence in Your Appraisals?

Why I refuse to put a full size copy of my appraisal license in reports This story appeared in the Columbus Dispatch, Columbus, Ohio on Jan. 14, 2012.  I have ‘clipped’ excerpts: Durk Reese’s efforts to launch an appraisal business were nearly destroyed when his name was used without his knowledge on inflated appraisals as part of a mortgage-fraud scheme. Mark Harmon is still trying to recover from the damage to his reputation after his name was used in the scam two years ago. Both were victims of identity theft committed by Daniel J. Nichter, a former Franklin County development...

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

Factoring your cash flow 3

Where Is My Money? Factoring Your Cash Flow

Factoring is the solution! Appraisers have shared a common concern with me when I visit with them and learn more about their businesses  – “When am I going to get paid?”  Many tell me that on average they do not collect their fees for 45 to 60 days. You have financial obligations to meet: payroll, taxes, travel expenses, etc. Cash flow delays can cause great stress for you and your appraisal business. You must understand and be aware of the importance of cash. Cash is the lifeblood of any business and without it your business will fail. One of the main challenges...

Appraisal / Appraisal News / Appraisers News / Business Development

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“Public Trust Betrayed”

Congresswoman Jackie Speier letter to author of “Public Trust Betrayed” James E. Manning, author of “Public Trust Betrayed”, an appraiser in California who began his career in 1973, received a letter from Congresswoman Jackie Speier in response to his book and the state of the appraisal industry: December 30, 2011 – Mr. James Manning Dear Mr. Manning: Earlier this year you offered me a copy of your book, Public Trust Betrayed.  After some delay, I have finally had an opportunity to briefly review it. I agree with many of your conclusions. For example, you indicate that existing laws created after...

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

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2012-2013 USPAP Now Available On-Line

The 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available on-line. The 2012-13 edition of USPAP is valid for two years, effective January 1, 2012 through December 31, 2013. According to a TAF press release “the new edition includes the standards of professional practice for all appraisal disciplines as well as guidance from the Appraisal Standards Board (ASB) in the form of USPAP Advisory Opinions and USPAP Frequently Asked Questions (FAQs), featuring a compilation of more than 300 questions and answers.” To access the 2012-2013 USPAP on-line

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB / The Appraisal Foundation

Extraction Has No Traction 3

Extraction Has No Traction

“Land values were based upon the extraction method.” Look familiar? If I had a nickel for every phoned-in Cost Approach that had this sentence or one like it, I’d be Warren Buffet. The Dictionary of Real Estate Appraisal defines it as: A method of estimating land value in which the depreciated cost of the improvements on the improved property is estimated and deducted from the total sale price to arrive at an estimated sale price for the land; most effective when the improvements contribute little to the total sale price of the property. The underscored portion says it all. Usually...

Appraisal / Appraisal News / Appraisers News / IDFPR / Illinois Department of Financial & Professional Regulation

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New management takes the helm at a la mode

January 05, 2012 – Oklahoma City, OK — a la mode announced today that its founder and sole shareholder, Dave Biggers, is retiring from the company’s day-to-day management, and that a new CEO and Executive Chairman team will be running the company. Scott Kinnaird, formerly the company’s CEO, has moved up to Chairman of the Executive Committee. Jay Shafer, the company’s previous CIO, has been promoted to the CEO position. Mr. Biggers will remain as the Chairman of the Board of Directors. “For the better part of the past decade, I’ve gradually removed myself from the day-to-day management of the...

a la mode / Android / Appraisal / Appraisal Equipment / Appraisal News / Appraisal Software

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New Data Courier with XML File Upload via SmartBrowser

DataCourier is built into WinTOTAL and TOTAL to help appraisers securely deliver MISMO XML report files to their clients. The new DataCourier equipped with SmartBrowser now allows appraisers to securely transmit XML and PDF files to any client via secure e-mail or their web portal. It also lets save XML and PDF files directly to PC for delivery via portable storage or archive purposes. 3 ways to send XML and PDF report files: Send XML and PDF via secure e-mail Upload XML and PDF to a website Save XML and PDF to computer Watch this 3 minute video with step...

a la mode / Appraisal / Appraisal News / Appraisal Software / Appraisers News / TOTAL

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2012 FHA Webinar Training for Appraisers

The Federal Housing Administration (FHA) is offering appraisal webinar and seminar training in January and February 2012 for seasoned and new real estate appraisers: January 17, 2012 – Property Inspection Requirements for FHA Appraisers: Have you ever thought, “Am I in compliance with HUD requirements if I do not inspect the subject’s attic?” This FREE webinar training is geared towards the FHA Single Family Roster Appraiser and will cover property inspection requirements to include neighborhood influences, site analysis, and improvements. Appraisers new to the FHA Roster, as well as seasoned professionals wishing to refresh their knowledge, will benefit from this...

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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USPAP Again?

This article was published in the January 2012 issue of the IllinoisAppraiser Newsletter. In March of 2011 an Administrative Rule seemed to slip by without so much as a whimper. A real estate appraiser must complete the 7-hour National USPAP Update Course or its equivalent within 6 months after the effective date of USPAP. Those real estate appraisers issued a license more than 6 months after the effective date of USPAP shall complete the 7-hour National USPAP Update Course within 6 months after licensure. Wait a minute. Didn’t you just take the 7-hour National USPAP Update a few scant months...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / IDFPR / Illinois Department of Financial & Professional Regulation

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