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For the term "waivers".
Many Appraisers Will Not Work for Appraisal Management Companies 6

Devastating Impact of a Blanket Waiver

Appraisal management companies do not understand the nuances of the appraisal profession, nor do they understand the challenges many rural properties bring. The Virginia Coalition of Appraiser Professionals has submitted an official comment to the ASC opposing the State wide appraisal waiver request in North Dakota. VaCAP has submitted a public comment expressing concerns over the much larger consequences in allowing such a request. A blanket waiver of appraisals up to $500,000 for a 5 year period will have a devastating impact on housing, not only in North Dakota, but across the country. We envision a snowball effect with other...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

No Shortage Exists - Bankers Data Proves No Appraisal Shortage Exists 9

No Shortage Exists

No shortage exists other than too few appraisers willing to work for drastically discounted fees that would also be willing to overlook the complexities of rural appraising in their completion time estimates. Nowhere in the ND proposal is there an assurance that in return for waivers, consumers would not be charged one dime for appraisal or appraisal related AVM fees. “Rising costs” is a deceptive claim to hide bankers desires to usurp appraisal fees for themselves. Perhaps they would call them evaluation fees to warrant charging $600 to $1,500+ for 30 second AVM analysis fees. Dear Mr. Park: RE: Appraisal...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

Special Interests Killing Consumer Property Value Protection 13

Killing Consumer Property Value Protection

Before the ink was dry on FIRREA 1989, special interests were snipping away at it. Originally proposed field review requirements in FIRREA drafts for 1 in 10 appraisals would have made the Great Recession (TARP) impossible. Now those same interests are stripping away at the last vestiges of consumer and taxpayer property value protection. The formal appraisal. The MINIMUM level of protection that should be insisted upon. Dear Ms Kahng: My name is Mike Ford. I am Vice President – Special Projects; & Chairman of the American Guild of Appraisers National Appraiser Peer Review Committee; AGA#44, OPEIU, AFL-CIO. I am...

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

Why Not Qualified Appraisers Instead of Cheap Appraiser Imposters? 29

Appraiser Imposters!

AMC sends a “non-appraiser” to photograph, measure, sketch, and observe a property, it’s quality, condition, and surroundings instead of using a qualified appraiser… I’m not an Appraiser, You just think I’m one Ever see the AT&T commercial where the surgeon walks in and he says “I Just got reinstated, Nervous? That’s ok so am I”. If not see here: https://youtu.be/1YT3erQZoq4   Or the late 1986 commercial with Peter Bergman that states I’m not really a doctor but I play one on TV.   Well get ready Consumers because the person that is about to visit your home IS NOT an...

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

NY AMC Law Sends Shockwaves Through AMCs - Appraisers Blogs 21

NY AMC Law Sends Shockwaves

Back on April 19th, I wrote about the New York AMC law in my Housing Notes newsletter. After years of AMCs chipping away at the public trust, the New York AMC law was designed to protect the consumer. The bill summary was: Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state. Last week, AppraisersBlogs ran it as a standalone post and I got a lot of feedback. To be clear, the bill was...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Home Valuation Code of Conduct

We the Owners Are the Only Ones that Can Fix Low Appraisal Fees 59

Customary and Reasonable Fees?

…appraisal firm owners roll up your sleeves & hold the line on fees… I have been the owner of HF Appraisal Ltd since 1993 and I have sat on the sidelines in regards to Customary and Reasonable appraisal fees. I can no longer stand by and read nor hear about this issue. It is amazing to me that over the past five to ten years our fees have remained the same and in some cases are lower than they were 10 years ago. The more that I read about this and talk to appraisers across the country in classes and...

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

Loan Officer' Letter Instructing Borrower to Push Appraiser for Value 38

A Little Push Can’t Hurt Right? Wrong!!

…forget the risky position foisted on the consumer by the loan officer… Well, here we go again. In my previous blog posts titled “Round and Round” and “Pressure My Story”, I spoke to examples of how lenders and/or AMCs have been pushing and pressuring appraisers to hit certain values on transactions. If an appraiser did not hit these numbers, or make changes to make the transaction work in the lender’s favor, the appraiser would be threatened with non-payment, removal from appraiser panels, and/or blacklisted. If you haven’t read those blog posts, feel free to go back and have a look....

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

Another Huckster Enters the Appraisal Arena 20

Another Huckster Enters the Appraisal Arena

Yet another third party huckster has entered into the real estate appraiser and appraisal arena. It’s that time again! Yet another third party huckster has entered into the real estate appraiser and appraisal arena. Apparently motivated by pure altruism. We identified a need in the marketplace to address a common problem that lenders are regularly challenged with in providing accurate appraisal quotes and then ensuring pricing on the Loan Estimate is consistent and compliant,” stated Vladimir Bien-Aime, president and CEO at Global DMS. (I LOVE this guy, he writes like me!) Global DMS Launches SnapVal to Provide Instant, Accurate, Guaranteed...

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

$599 Appraisal Waiver to Save the Borrower Money? - Appraisers Blogs 16

$599 Waiver to Save the Borrower Money?

The consumer is being fed yet another lie! Remember when we heard an appraisal waiver will save the borrower money? Do you recall all those videos from loan officers and mortgage companies encouraging borrowers to obtain an appraisal waiver to save them money? News flash – they lied! But you already knew that. Well, fellow appraiser and blogger Krystal Schware of Paragon Appraisal Services has a story for you: “The Danger of Saying Yes to an Appraisal Waiver”. “For only $599, we will grant you an appraisal waiver to help you avoid having an appraisal that ‘comes in short’.” **...

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

Faster Cheaper Appraisals! Really Cheap Abbreviated Appraisals... 41

Faster Cheaper Appraisals!

An appraiser shared the following with us. Vintage Mortgage Firm is offering faster cheaper appraisals. New Faster Cheaper Appraisals! Three points: One: We run automated approvals with both DU (Fannie) and LP (Freddie) with the click of one button. This gives us the best chance for appraisal waivers. Have you done a purchase transaction recently with NO appraisal needed? We do them all the time. Two: As of Feb 1st, we will have access to a completely different kind of appraisal if one is needed. First step is a much cheaper $145.00 abbreviated appraisal. This information is put into our...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / Collateral Underwriter

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