by AppraisersBlogs · Published March 7, 2013 · Last modified December 5, 2015
The Federal Housing Administration (FHA) is offering a webinar on March 20, 2013 on FHA Appraisal Frequently Asked Questions (FAQs): March 20, 2013: – Webinar: This FREE Webinar training will provide clarification to current Underwriting Hot Topics, Insuring/Eligibility Issues and Frequently Asked Questions (FAQs) in today’s FHA lending environment. Topics covered will include: FHA Updates including most recent
by AppraisersBlogs · Published March 5, 2013 · Last modified May 22, 2022
A Bipartisan Policy Center report released Feb. 25 primarily focused on reducing the government’s role in the nation’s housing finance system, but it also proposed changes to current appraisal policy. Appraisal-specific recommendations contained within the 136-page report, titled “Housing America’s Future: New Directions for National Policy,” focused on banning the use of distressed home sales as comparables by appraisers, a practice the BPC said was helping to depress local home values and impacting buyers’ ability to secure financing. The report suggested that Fannie Mae, Freddie Mac and the Federal Housing Administration should refuse to accept distressed sales as valid comps,...
by Brian L. Trotrier · Published February 4, 2013 · Last modified March 6, 2017
The Sky is Falling for Appraisers & Home Inspectors Chicken Little was right – the sky is falling…and landing on both appraisers AND home inspectors. Home inspectors often suffer from a general lack of respect, part of which is caused by the fact that they have no single set of national standards of practice like appraisers who have USPAP. Appraisers, on the other hand, suffer from what is commonly known as appraisal creep where the conditions and requirements of appraisal work keep expanding, but the fees for the work either shrink or stay the same. Now, forces within the government...
by AppraisersBlogs · Published February 1, 2013 · Last modified March 14, 2022
Chairman Hensarling Announces Series of Committee Hearings Focused on Looming Financial Crisis at FHA Washington, Jan 30 – Chairman Jeb Hensarling announced today that the Financial Services Committee will hold a series of hearings throughout the year that focus on the financially troubled Federal Housing Administration, the FHA’s outsized role in the nation’s housing finance system, and the need to create a sustainable mortgage finance system. The FHA’s single-family insurance fund, which insures more than $1 trillion worth of home mortgages, has a negative economic value of $16.3 billion, according to an actuarial report released by the Department of Housing...
by AppraisersBlogs · Published January 31, 2013 · Last modified October 30, 2017
FHA Updated Valuation Protocol FAQs Revised 01/24/13 FHA has updated the Valuation Protocol FAQs posted on the FHA Appraiser Roster web page. The most recent FAQs can be found on page 27 of the document and provides clarification for what constitutes an acceptable conventional heating system. You can periodically review the FHA Appraiser Roster web page for alerts on recently published Mortgagee Letters of interest and other pertinent announcements. The publication contains the following topics: New Construction Wood Destroying Insects/Termites Utilities – Well and Septic Inspections & Certifications Cost Approach Accessory Dwelling Units Manufactured Housing Two Unit Properties HECM Appraisals Lender...
by AppraisersBlogs · Published January 7, 2013 · Last modified October 30, 2017
The Federal Housing Administration (FHA) is offering a webinar on January 22, 2013 on Property & Appraisal Frequently Asked Questions (FAQs): January 22, 2013: – Webinar: Property & Appraisal Frequently Asked Questions (FAQs). This FREE introductory webinar addresses the most common questions FHA receives from underwriters and appraisers on single-family property-related issues. The topics covered include: flipping, appraisal validity period,
by AppraisersBlogs · Published September 11, 2012 · Last modified October 30, 2017
The Federal Housing Administration (FHA) is offering a webinar on September 18, 2012 on REO Appraisals: September 18, 2012 – Webinar: The Real Estate Owned (REO) Appraisal will acquaint the audience with the correct reporting procedures that FHA Roster appraisers should follow when completing FHA appraisal reports for HUD Real Estate Owned (REO) properties. This seminar introduces and explains, rather than supplants, official policy issued in Handbooks and Mortgagee Letters. Appraisers new to the FHA Roster, as well as seasoned professionals looking for a refresher will benefit. Registrants will receive an email confirmation prior to the webinar with a web...
by Guest Author · Published August 29, 2012 · Last modified August 20, 2019
On August 10, the Arizona Board of Appraisal dismissed the USPAP violation complaint filed by Chase Bank against John Dingeman on initial file review. Why is this newsworthy? Because it represents a major victory for appraisers everywhere. Dingeman, has been fighting strong arm tactics employed by Chase Bank in an attempt to force him to violate Client confidentiality by discussing details about an appraisal on a no-defunct loan that Chase acquired. Dingman took his fight right to the street starting a petition on Change.org and other outlets to share his story with fellow appraisers. We are happy to also report...
by AppraisersBlogs · Published August 8, 2012 · Last modified October 30, 2017
The Federal Housing Administration (FHA) is offering a webinar on August 23, 2012 on 50 Most Common Appraisal Review Deficiencies: August 23, 2012 – Webinar: 50 Most Common Appraisal Review Deficiencies. Did you know that FHA appraisals are reviewed for compliance with FHA requirements as well as USPAP? The Denver Homeownership Center is offering a FREE 2-hour webinar on the 50 Most Common Deficiencies found in the review of FHA Appraisals. This webinar will provide an insight and understanding of the key areas of HUD Handbook 4150.2, Appendix D, and applicable mortgagee letters, relating to the completion of FHA Appraisals....
by AppraisersBlogs · Published July 11, 2012 · Last modified May 25, 2021
Neighborhood is broad and general in nature… When examining appraisal reports, it is commonly noted that the Neighborhood section of the 1004 appraisal report contains data for sales of properties that are comparable and competing to the subject, rather than for sales of all homes of the same category (i.e., single family detached). Professional appraisal reference works, such as Appraising Residential Properties, 4th Edition (published by Appraisal Institute) address the differences between a “neighborhood” and a “market area.” Further, various Fannie Mae selling guides and announcements, and the HUD 4150.2 handbook contain guidance for appraisers regarding the analysis of neighborhood...
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