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For the term "clear val".
Importance of Intended Users Identification - Case Helpful to Appraisers 13

Case Helpful to Appraisers

This is the only way that the opinion would ever help other appraisers, especially residential, in future cases filed by parties who are not intended users of the appraiser’s work. Newly Published California Case Helpful to Appraisers: Tindell v. Murphy Today, the California Court of Appeal, Third Appellate District certified for publication its recent decision in a case entitled Tindell v. Murphy. The case involved mortgage borrowers who sued a real estate appraiser blaming the appraiser for a purchase they made in 2005 at the peak of the real estate bubble. The trial court had dismissed the borrowers’ suit because they...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

Alternatives to Traditional Appraisals 5

Alternatives to Traditional Appraisals

…increasing usage of alternatives to traditional in-person appraisals for valuations in real estate transactions… A California Judge has ruled Wells Fargo must pay $97 million to mortgage employees for not paying employees for the state mandated breaks.  From the article, the Judge sided with the employees and ruled compensation for breaks should include commissions, not just an hourly rate. Just think, this is one state. Don’t most states have similar laws? $97,000,000 x 50 = $4,850,000,000 See the article here. Reminder: The National Association of Realtors, Real Property Valuation Forum presents: Rethinking Real Estate Valuation: Alternatives to Traditional Appraisals The...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Technology / Appraisers News / Automated Valuation Models

Clarocity Multi Million Dollar Garbage Technology vs. Appraisers 81

Garbage Replacing Appraisers?

If appraisers were to embrace such garbage, would the demise of this technology be sooner? …14.53 million dollar loss in 2017… Hey Clarocity, Give it up. It is time to face the facts! From Clarocity Public Financial Statements: 14.53 million dollar loss in 2017 9.49 million dollar loss in 2016 13.00 million dollar loss in 2015 5.43 million dollar loss in 2014 6.82 Million dollar loss 2013 4.95 million dollar loss in 2012 0.36 million dollar loss in 2011 1.19 million dollar loss in 2010 0.86 million dollar loss in 2009 44.8 million dollar loss in 2008 The 2017 Clarocity’s...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Automated Valuation Models

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

AMCs Add Weeks to The Appraisal Process? 13

AMCs Add Weeks to The Appraisal Process?

By my math, this is a 18-day process… appraisal part only took 3 days as a rush… Despite being approached all the time to add our firm’s name to an appraisal management company, we decline. However, when wealth management companies were forced by their parent company, they made arrangements to help attract better firms like ourselves to consider working with them: Pay our fee Respect our turn time quote Not inundate us with clerical addenda requests Last fall we were approached by 4 different AMCs because their wealth management clients demanded they fix the problem of not attracting the better...

Snippets

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

FHFA Working Paper Credibility Questioned by AGA 10

Working Paper Credibility Questioned

NO REAL ESTATE APPRAISER IN THE COUNTRY IS ALLOWED TO MISS THE MARK BY 7.8% WITHOUT RISKING LOSS OF LICENSE! The Working Paper demonstrates more than anything else, that given an 8-hour work day the computer will take 6 full working days (1.2 working weeks) to arrive at a result that is at best 7.8% error prone. Office of the Director, Honorable Melvin Watt Federal Housing Finance Agency… Dear Sir(s) The American Guild of Appraisers is a Guild within the more than 12 1/2 million members, retirees and family members of our parent union OPEIU, AFL/CIO. In addition to representing...

AGA / AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

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

Credible Third-Party Inspections, Use of EA & USPAP Q&A 17

Credible Third Party Inspections

…producing credible real estate appraisal reports… Is it any wonder that The Appraisal Foundation has lost nearly all credibility as America’s self-proclaimed foremost authority on appraisal matters? I humbly submit their most recent offering. Excerpt from current ASB Q&A: “2018-19 USPAP Q&A Issue Date: March 29, 2018 The Appraisal Standards Board (ASB) of The Appraisal Foundation develops, interprets, and amends the Uniform Standards of Professional Appraisal Practice (USPAP) on behalf of appraisers and users of appraisal services. The USPAP Q&A is a form of guidance issued by the ASB to respond to questions raised by appraisers, enforcement officials, users of appraisal...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB

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