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For the term "hybrid".
Veterans Administration on Hybrid Appraisals - Protecting Veterans 8

Veterans Administration on Hybrid Appraisals

See the announcement by the Veterans Administration basically telling lenders and appraisal management companies we are going to protect our Veterans with sound appraisal practice. …the person providing property information to the appraiser must have entered into an agreement with the appraiser to do so. …the person who provides to the VA fee panel appraiser information must sign the appraisal report in the “Appraiser” section of the left side of the appraisal report. Assisted Appraisal Processing Program (AAPP) This section authorizes the Department of Veterans Affairs’ (VA) Secretary to issue guidance explaining the conditions under which VA permits VA fee...

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

GSEs to Halt Hybrid Pilot Program? Rumors or Fact? 27

GSEs to Halt Hybrid Pilot Program?

My colleagues in the appraisal industry and I have been confused/alarmed by the actions of the former GSEs Fannie & Freddie over the past several years in their efforts to raise mortgage volume. Banks continue to remain in the fetal position on risk post-financial crisis and low mortgage rates and inverted yield curves aren’t helping. As a result, the GSEs, who remain in receivership, are doing all they can to remove pain points for banks to lend more and as a result, exposing the mortgage process (and, of course, the taxpayer) to unnecessary risk. As an appraiser, I’m clearly biased...

Snippets / Trending

Appraisal Waivers and Hybrid Appraisals False Narrative - Quality Matters 23

Appraisal Waivers and Hybrid Appraisals

The fallacy of those who endorse Hybrid appraisals is their assumption that the appraiser’s field work is less valuable, less important, than their analytical work behind a computer. They feel the task of inspecting the property and driving comps is best farmed out to someone else with less training. The real truth is that the field work is critical! There is no way an appraiser can credibly analyze a property through the eyes of another… The Need for Speed: In a previous post entitled The Need for Speed, I explained that lenders and Appraisal Management Companies are on a mission to shorten the...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac

Bifurcated Appraisal Fans Can Claim SOW Till They're Blue in the Face 50

Hybrids vs USPAP Scope of Work Rule

Supporters of the bifurcated appraisal can claim scope of work till they are blue in the face… Appraisal Buzz published an article written by Joshua Walit on July 31, 2019 titled Nothing New Under the Sun: The Varied Face of Appraisal. The article brings up some good points, however; it does not take into account the reality of the market and the control of the lenders and appraisal management companies in the process. The mere fact that the appraiser does not have control over the person completing the inspection and in most cases, no way to even know who is providing the...

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

Holding AMCs Responsible for Hybrid Inspections - AppraisersBlogs 11

AMCs Responsible for the Hybrid Inspection

It seems holding the appraisal management companies responsible for the hybrid inspection is the best option. The thinking was they choose, engage and pay the inspector. The Virginia Real Estate Appraiser Board met for its quarterly meeting on July 30, 2019. We are happy to report CoesterVMS no longer has a license to operate in Virginia. The Board voted to accept the consent order accepting the voluntary surrender of his license. The Board also passed a motion to draft legislation to be introduced into the General Assembly giving the Board regulatory control over the hybrid inspection and those individuals that...

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

Proposed Hybrid Meeeting - Overwhelming Majority Were Against Hybrids 5

Overwhelming Majority Are Against Hybrids

The next Virginia Real Estate Appraisal Board Meeting will be held on July 30th, 2019 @ 10:00 AM. This meeting will be a historic meeting as the board will be discussing the proposed hybrid appraisal guidance document and the corresponding 153 public comments. Also on the agenda, CoesterVMS is listed under the disciplinary cases! Why is this meeting so important? First, the 153 comments is the second highest amount of comments that have been made on any guidance document in the past year. The highest amount of comments on any proposed guidance document was by the Board of Health Professions in which 727...

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

Clear Capital Admitting Hybrid Inspectors Are Offering Appraisal Opinions 34

Hybrid Inspectors Offering Appraisal Opinions

Clear Capital admission: This is an admission that inspector were previously offering appraisal opinions re Q&C. There remain many other areas in hybrids that also are appraisal opinion being provided by non appraisers. I have written many blog posts here, mainly for the consumer to read and understand what is actually happening in the world of Real Estate Valuations. My blogs range from being overcharged for appraisals so the middle man (the appraisal management company or AMC) can make money, lenders still pressuring appraisers to hit a value, and now having untrained and unlicensed people perform inspections (see my last...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Hybrids, Invitation to Fraud - The New Subprime Fiasco of This Decade 6

Hybrid Appraisals, Invitation to Fraud

Until FNMA released their version of a test format for hybrids (1004P) there was not one hybrid form appraisal process and online form reporting system found that was not egregiously misleading in the entire country. Not one. Not Clarocity’s, nor Clear Capital’s or Mueller Inc. A “typical hybrid” sample follows. https://appraisersblogs.com/clearval-value-hybrid-appraisal Not those crafted in Hyderabad, Pakistan for $8 Billion for just one year’s Wall Street Investments (as published by Cezary Podkul Wall Street Journal) where the preparers claimed to be able to produce 360+ per day by illegally using broker login credentials from state-licensed brokers in America. The entire...

ACI / AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News

Let's Get Those Pesky Appraisers Out of the Way! Hybrid Appraisals Part 5 22

Robust & Precise Inspections – Hybrids V

No more pesky appraisers blowing up sales commissions & bonuses & salaries… A “hybrid” appraisal is a new name for where the property inspection is separated from the analysis and appraiser’s certification. It is faster and cheaper and… This is Part 5 of a (soon to be, so far) six part discussion of Hybrid Appraisals. Part One, Two, Three, and Four are behind these links. Many years ago, I had several trainees, and as each gained experience and competence going out with me, I first let them inspect homogeneous neighborhoods, with me driving by on the outside to check on locational and optimal use issues. In time, they did...

Appraisal / Appraisal News / Appraisers News / Trending

USPAP or Not Mueller REO report 36

Mueller REO Hybrid Appraisal Report

Another Mueller Report has surfaced. The report is a Mueller REO Hybrid Appraisal Report and it was given to an appraiser as a sample. This one raises more questions than the last one! The photos from the property inspection do not tell the appraiser one thing. The photos are dark and the repairs the inspector states are needed, simply are not seen in the photos. It begs the question, does the appraiser have adequate information to complete a credible appraisal? Now take a look at the Mueller REO Hybrid Appraisal report. Pull up the report and follow along. Some things have...

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

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