Tagged: AI

Condo Density Primer 3

Condo Density Primer

Many appraisers still seem confused as to what the form means by density. In the project section of Fannie Mae form 1073 the first line addresses topography, size, density and view. Many appraisers still seem confused as to what the form means by density. Appraisers enter and AMCs approve phrases like: average or typical or even a calculation such as 50 units / 12,975 square feet. Appendix D regarding UAD reporting offers no guidance. What are they asking for and what does it mean? Fannie is looking to see if the existing density can be rebuilt following a catastrophic loss....

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

Appraiser-Client Relationship - Imagecredit Flickr - Dennis Hill 15

Don’t You Value our Relationship?

Relationships, we all have them.  And despite the efforts of Dodd Frank to destroy them, we have somehow managed to keep them. A big bank that I had a great relationship dropped me because their portal system decided there were too many appraisers last year and left me hanging. No orders for a year. Now they’re busy and want me to do appraisals. Great! But between the portal fees, underwriting charges, title surpluses, software charges, destination charges, taxes, etc. the fee works out to be substantially lower than most work I have. They asked me “don’t you value our relationship?”. I replied where...

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

AMC Regulation Rule Finally Published in the Federal Register - Imagecredit Flickr - Steven Lilley 1

Federal Register: AMC Final Rule

AMC Regulation Rule Finally Published in the Federal Register Appraisers and others, On June 9, 2015, the Federal Register published the new AMC Registration and Regulation Final Rule: The OCC, Board, FDIC, NCUA, Bureau, and FHFA (collectively, the Agencies) are adopting a final rule to implement the minimum requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) to be applied by participating States in the registration and supervision of appraisal management companies (AMCs). Thanks to Bill Garber, Appraisal Institute Director of Governmental Affairs, for sending me this info today. I first wrote & sent info...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

Scope Creep - Appraisers 4

Scope Creep!!!

Seems like everyone hates AMC’s and scope creep. Scope Creep!! I ordered a sub at a sub shop. I love tomatoes! So I asked for extra tomatoes. I was charged. I took my car in for inspection. I told the mechanic since my car was up in the air and the tires were off to rotate the tires. I was charged. BUT, the tires were off. The cook’s hand was in the tomatoes. WHAT’s up? I was asked for two listings. I wanted to charge. I did a restricted report on an office building (sales comp approach only). The client called and wanted a cap rate, then an expense ratio. They refused...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

Are Appraisers Redbox or Blockbuster 7

What are Appraisers? Red Box or Block Buster Video?

How do we move to be more of a Red Box? I stopped at a Sheetz to get gas. As I was standing there I noticed a Red Box Machine which had a steady flow of traffic. Next door was an old closed Block Buster Video.  Hmm…  When my kids were little it was a big treat to go to that Block Buster and rent a movie. We had to wait in line 5 to 10 minutes  and now it’s closed. But the Red Box machine is steadily pumping out DVDs. So I got to thinking. What are appraisers? Are we...

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

4

Helpful Appraisal Tips From the Seattle Chapter of the Appraisal Institute

Last Fall I had the pleasure of attending the annual conference presented by the Seattle Chapter of the Appraisal Institute. I was able to sit in on some interesting educational sessions. With all the conversation in industry surrounding CU and other initiatives directly impacting appraisers, I felt highlights from the educational sessions would be beneficial. The following information is from a presentation by Clark Dickson with HomeStreet Bank called, “Appraising for Lenders in Today’s World.” Mr. Dickson’s presentation was about appraisal quality and what it takes to have your appraisal be acceptable in today’s lending environment. He said that everything...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisal Quality Monitoring

Appraiser Background Check Requirements 9

Appraiser Background Check Requirements

The info below from AI’s Appraiser News OnLine is about the action taken by the AQB at their recent meeting in Seattle, WA, which I was unable to attend. It’s still unclear if “existing license holders” must undergo a background check at the time of their license renewal. Apparently that’s determined by individual states. And it’s still difficult to get all the multiple clients appraisers deal with, to accept “one” background check performed in a state or by a separate organization. So appraisers are sometimes faced with having to spend money to provide different background checks to individual clients. Frankly,...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

2

Arizona Board of Appraisal Eliminated

Arizona will join a handful of states that don’t have an appraiser board or commission. Arizona Gov. Doug Ducey on March 12 signed into law SB 1480, legislation that eliminates the Arizona Board of Appraisal effective July 1. The ABOA’s administrative functions will be reassigned to the Department of Financial Institutions. This provision was included in the state’s FY 2016 budget that passed the legislature March 7. Arizona will join a handful of states that don’t have an appraiser board or commission. According to the Executive Summary accompanying the Governor’s budget proposal, the action was necessary because the shrinking population...

ABOA / AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

0

“Serial” Podcast & Your Appraisal Workfile

Podcast a growing medium Podcasts are a growing medium for both education and entertainment. Research shows it has grown over 25% per year for the past few years. As an appraiser, I find myself spending a lot of time at my computer as well as traveling to and from appraisal inspections. I discovered podcasting about a year ago and have not turned on talk radio since. Podcasting allows me to specifically pick the topics I want to hear and listen to them when I have the time to listen. I love ‘em. Recently, a few friends of mine turned me...

Appraisal / Appraisal News / Appraisers News

5

AQB Proposed Background Checks Focus on ‘Public Trust’

The Appraiser Qualifications Board of The Appraisal Foundation on Dec. 2 released a new exposure draft of proposed revisions to the 2015 Real Property Appraiser Qualification Criteria. Among the revisions is a requirement that all applicants for real property appraiser credentials have a background that does not call into question public trust. To meet that requirement, applicants must provide state appraiser regulatory agencies with all information and documentation necessary for a jurisdiction to determine an applicant’s fitness for licensure. An applicant will not be eligible for an appraiser credential if they have been convicted of or pleaded guilty or nolo...

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

xml sitemap
blank