Tagged: American Guild of Appraisers

APB Focus Group Interested in Your Input 8

APB Focus Group Interested in Your Input

What is the goal of the Focus Group? Appraisers, Please read the memo below from a member of the Appraisal Practices Board. The Board is meeting FEBRUARY 23, 2017 in Torrance, California. They are sincerely interested in appraisers written input. It doesn’t have to be a formal letter. Jot down some thoughts and views in your email and either send it to the APB, Mrs. Desmarais, Vice Chair of APB (lap…@comcast.net), or if you prefer send to me (m…@mfford.com) with subject line “Forward to TAF/APB” or something similar. Please try to get comments in by 02/22/2017. The original agenda has...

AGA / APB / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News

Comparable Selection Manipulated to Produce Lower CU Scores 6

Comparable Selection Manipulated to Produce Lower CU Risk Score

Appraisers harassed to use sales not comparable to lower CU risk score… Readers that have followed my past Collateral Underwriter (CU) articles already know my opinion of it. It was flawed system design starting with its underlying database. Designed by seven people that did not have a valid appraisal license between them! Setting aside the basic database flaw in CU, it was and is a system that’s highly susceptible to manipulation. The CU scoring parameters can be modified at the lender-user end. Even if that were not possible, it is still subject to manipulation. As Phil Crawford points out, FNMA first...

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

Real Estate Appraisal Industry Crying Out for Leadership & AI Inaction 7

AI Current Path is a Serious Issue for ALL Appraisers

Time for the AI to cooperate with real estate appraisal state coalitions…? Is it finally time for the AI to cooperate with other respected professional peer organizations and state coalitions? Please read the following article by Jonathan Miller, titled “Sadly, The Appraisal Institute is now working against its local chapters“, to see what AI insiders views are about the relevance of the AI’s current path. While my intent is not to take cheap potshots at the AI, I do find it odd that the same organization that repeatedly testifies in public that it represents the interests of all appraisers in...

AGA / AI / AMC / APB / Appraisal / Appraisal Institute

The Partisan Battle to Eliminate Dodd Frank 15

The Partisan Battle to Eliminate Dodd Frank

Dodd Frank created the illusion… I had a different “take away” from the Housing and Insurance Subcommittee “Modernizing Appraisals” hearing. My impression was that there were two simultaneous hearings by the same people in the same place. There was the actual televised hearing with disparate prepared speeches, and then there was the real underlying reason for the hearing. The partisan battle to eliminate Dodd Frank. I try very hard to take a non partisan approach to the issues facing appraisers when writing about or for the American Guild of Appraisers (AGA). Obviously AGA is a union organization, though as I’ve...

AGA / AI / AMC / American Society of Appraisers / APB / Appraisal

Freddie Mac Criminal Aspects of Its Appraisal Free Mortgages 38

Freddie Mac Criminal Aspects of Its Appraisal Free Mortgages

Freddie Mac is opening itself up to over 150,000± potential individual lawsuits… This is a response from Mike Ford to Kenneth Harney’s article, “Freddie Mac planning appraisal-free mortgages”. I represent the American Guild of Appraisers, #44OPEIU, AFL-CIO, and the real estate appraisal-related consumer and taxpayer interests of our more than fifteen million± AFL-CIO members, retirees and their families. I’m prompted to write this open letter regarding your recent well written & researched article, titled “Freddie Mac planning appraisal free mortgages”. Regrettably, it was too brief to cover several additional critical aspects of the issue, but I assume the Chicago Tribune’s...

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

Unintended Use & Misleading Appraisal Reports 13

Unintended Use & Misleading Appraisal Reports

Unintended and Potentially Misleading At what point do we ALL say enough? When they insist on unlocked PDF, XML or ENV formats that facilitate recipients in removing portions of appraisal reports they don’t like? Too late. When they blacklist appraisers for refusing to make post effective date contract analysis changes? When they set the fees we charge? When they change the scope of work after assignments are completed? When they LIE to borrowers about how much the ‘appraisal fee’ is? Now we have several that think THEY own MY professional work product? Like HELL they do! Any, repeat, ANY appraiser...

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

STOP the Idiotic Constant Parsing Changes in All Areas of USPAP 14

It’s Time to STOP the Foolishness

STOP the constant parsing changes in all areas of USPAP I encourage ALL appraisers in the DC Metro area to attend the upcoming ASB Public Meeting on October 21, 2016. In a nut shell, my strong belief is that they need to STOP the constant parsing changes in all areas of USPAP. NOT ONE of the proposed changes is a necessary change. NOT ONE! No wonder state regulators no longer comprehend USPAP! If they need the extra money that selling new versions of USPAP produces, then just CHARGE US DIRECTLY! The purpose of FIRREA was to preserve the public’s trust...

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

Housing Notes: AMCs Running Out of Appraisers 37

Housing Notes: AMCs Running Out of Appraisers

Housing Notes on Appraiser Shortage, Coester AMC Lawsuit… In a recent article, Jonathan Miller, author of Housing Notes, points out several key factors in the appraisal world today. Pat Turner, President of VaCAP, reached out to Jonathan about sharing his information. Here is what Jonathan had to say… “This is a great moment to expand insights on what is really happening. AMCs have run out of appraisers to work for half the market rate. And those that might take less of our fee are still costing us another 30% of lost productivity with ever expanding scope creep. Brexit has pushed...

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

Appraiser’s Response to LRES Order Blast 80

Appraiser’s Response to LRES Order Blast

LRES Standard Interior Appraisal Request? Your special requirements and micromanagement of the appraisal process dictate that I charge a fee commensurate with the additional, but typically unnecessary work needed to produce credible results. You are the potential client (agent), so that that is your prerogative and it would be my pleasure to accommodate you as long as appropriate compensation is provided. Respectfully, there is little about your appraisal request that is “standard”. Please explain briefly what you consider to be a ‘standard interior appraisal’. That definition does not appear in The Appraisal Institute’s Dictionary of Real Estate Appraisal. To be...

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

5

Simply too BIG to Say No to…

If they can’t even get their own PACE Pro form right, how are these alternative “valuation” providers going to get something as complicated as the value right? First American, and to some extent similar large scale conglomerate “players”, supply everything to the transaction: from the Home Warranty for the buyer, to the escrow services, to the mortgage company, to the mortgage servicer, to the title company, to the appraisal management company, to the appraiser panelists, to the software company that DESIGNS the software used for PACE Pro and almost all other appraisal software (ACI), to the BPO providers, to the...

1004MC / AGA / Appraisal / Appraisal News / Appraisers News / Automated Valuation Models

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