Tagged: appraisal news

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City Employees Encourage False Real Estate Appraisals

St. Petersburg city employees encourage false real estate appraisals Frank Gregoire of Appraiser Active and Gregoire & Gregoire, Inc. in the news: St. Petersburg city employees encourage false real estate appraisals by Noah Pransky ST PETERSBURG, Florida – Are staffers keeping city leaders in the dark on real estate deals to obtain property faster? A 10 News Investigation into recent land-buys by the City of St. Petersburg indicates employees in the city’s real estate department are influencing the appraisal values of properties they plan on purchasing. But employees aren’t asking local appraisers to underestimate the values of the homes they...

Appraisal / Appraisal News / Appraisers News

VA & UAD compliance 0

VA Will Not Require UAD Compliance

The US Department of Veterans Affairs (VA) announced that it will not require Uniform Appraisal Dataset (UAD) compliance for appraisal reports on VA backed loans. As of September 1, 2011, VA will accept, but not require, UAD compliant reports; it is preparing a circular with more information on this issue in the very near future which will be posted online.

Appraisal / Appraisal News / Appraisers News / The US Department of Veterans Affairs / UAD / Uniform Appraisal Dataset

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DartAppraisal.com Offers Checklist for Uniform Appraisal Dataset (UAD) Compliance

TROY, MI — (Marketwire – Sep 7, 2011) – Residential appraisers seeking to fulfill requirements of the new Uniform Appraisal Dataset (UAD) will find the new UAD checklist available from DartAppraisal.com to be a helpful tool in compliance. The UAD checklist, available here, contains a quick reference of information required for UAD-complaint appraisals, including 38 specific line instructions and nearly 50 common abbreviations. Checklist categories include Timeframes, Location Factors, View Factors, Sale Type, Financing Type and more. DartAppraisal.com recently announced its full coordination of efforts in compliance of the UAD to properly manage appraisals (1004 URAR, 1073 Condo, 2055, and...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / DartAppraisal

Two Measurement Standards: ANSI vs. AMS 13

Two Measurement Standards: ANSI vs. AMS

Are you really following the ANSI ® home measurement standard? When the ANSI ® standard isn’t really ANSI ® Many agents (and appraisers) claim to be using the ANSI ® measurement standard, when in fact they are using the American Measurement Standard®. And, there’s no one rushing to teach them the difference. Industry leaders have taken a “don’t ask, don’t tell” policy, and square footage remains a source of confusion in the real estate industry. In many parts of the country, agents and appraisers are disclosing to their clients that they strictly adhere to the ANSI ® measurement standard. But,...

American Measurement Standard / American National Standards Institute / AMS / ANSI / Appraisal / Appraisal News

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UAD is Data Mining Nothing More

This article was published in the September 2011 issue of the IllinoisAppraiser Newsletter Blue Pill – Red Pill If you’re reading this on September 1st, you’re probably sitting in front of an unfamiliar drop-down menu on your appraisal software or frantically thumbing through Appendix D looking for an answer that isn’t there. Today is D-Day. Actually, UAD-Day. While Fannie Mae and Freddie Mac slide another deck chair over to catch a better view of the ice berg they’ve already hit three years ago, appraisers around the country are wrestling with Fannie & Freddie’s latest contribution to mind-numbing, muddled, mortgage malaise;...

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

Danger of 1004MC 2

Danger of 1004MC

1004MC : Danger! If you conduct appraisals for residential lending, you are familiar with the 1004MC. Many appraisers rely upon the data which populates the form for conclusions (e.g., trends for Property Values and Prices, relationship between Supply & Demand, etc.) which are later communicated on page 1 of a Fannie Mae appraisal report form. Of course, the data and analysis in the 1004MC are, in part, used by the appraiser in analysis in the Sales Comparison Approach. What could go wrong with this scenario? The correct answer is plenty, resulting in the appraiser communicating misleading opinions and conclusions. What...

1004MC / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Fannie Mae - Freddie Mac

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DataMaster Releases Beta UAD Compliant Version

DataMaster has recently released a beta UAD compliant version, called DataMaster Plus. With the new DataMaster Plus, all of the imported information is “UAD compliant” and in the proper format. No need to translate MLS data to meet the UAD standards. DataMaster Plus does this automatically. To learn about DataMaster Plus and its features, register for the webinar. The webinar includes: Brief overview of UAD. How DataMaster handles the UAD requirements. How to customized your DataMaster to fit your requirements. How to build profiles for different lenders and clients. DataMaster is offering a free 14 day trial and is available...

Appraisal / Appraisal News / Appraisal Technology / Appraisers News / DataMaster / Fannie Mae - Freddie Mac

VaCap Second Letter to Attorney General Cuccinelli Regarding UAD 0

VaCap 2nd Letter to Attorney General Cuccinelli RE UAD

VaCap Second Letter to Attorney General Cuccinelli Regarding UAD 08/29/2011 Kenneth T. Cuccinelli, II Office of the Attorney General 900 East Main Street Richmond, VA 23219 Re: September 1st Implementation by GSEs Dear Sir: In a letter dated July 19th, 2011, the Virginia Coalition of Appraiser Professionals (VaCAP) brought to your attention the serious concerns that we have about the impending implementation of new appraisal reporting requirements by the Government Sponsored Enterprises (GSEs), which are The Federal National Mortgage Association (FNMA) and The Federal Home Loan Mortgage Corporation (FHLMC). Since Fannie Mae and Freddie Mac control a very large percentage...

AARO / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB

VREAB Letter to FHFA Calling for Delay of UAD Implementation 0

VREAB Seeking Delay of UAD Implementation

VREAB Letter to FHFA Calling for Postponement of UAD Implementation August 29, 2011 Mr. Alfred M. Pollard, General Counsel Federal Housing Finance Agency Dear Mr. Pollard: At its August 16, 2011, meeting, the Virginia Real Estate Appraiser Board (Board) received public comment from a number of Virginia appraisers expressing their unease with the September 1, 2011, implementation of the Uniform Appraiser Database (UAD) by Fannie Mae and Freddie Mac under the direction of the Federal Housing Finance Agency (FHFA). These and other Virginia appraisers have concerns that conforming to the UAD might lead to misleading appraisal reports as the UAD’s...

AARO / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB

MBREA Meeting with Congressman Frank RE Customary & Reasonable Fees 1

MBREA Meeting with Congressman Frank RE C&R Fees

Update on MBREA Meeting with Congressman Frank Regarding Customary & Reasonable Fees One of our readers forwarded MBREA’s email following up on the meeting with Congressman Barney Frank about Customary & Reasonable Fees. “We recently reported about a meeting MBREA had with Congressman Barney Frank. Congressman Frank is aware of the appraisal professions concerns about customary and reasonable fees and has been working with the Federal Reserve on its interpretation of the statute. Congressman Frank wrote in a followup letter to MBREA Government Affairs Committee Chair, Allan Cohen, “…I am especially sensitive to any misinterpretation of legislation we enacted because...

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

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