Appraisal Qualifications Board - Appraisers Blogs

The Illogical Reality of Mortgage Appraisal Reviews

Dallas T. Kiedrowski, MNAA — Thu, 13 Jun 2024 12:30:28 +0000

Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners. In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability. However, beneath this façade of reliability lies a troubling rift: while real estate appraisers must navigate stringent licensing protocols and scrutiny, the individuals reviewing the appraisals often operate with minimal oversight, instead leaning heavily on automated systems and algorithms. This stark disparity not only undermines the credibility of the review process but also revives the threat of past missteps, once...

The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Lack of Fee Transparency: Exposing the AMC Exploitation By keeping the borrower in the dark about the true cost of the appraisal, the AMCs are able to charge…

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TAF Is About To Get PAVEd

Jonathan Miller — Thu, 12 Aug 2021 12:30:33 +0000

The current administration is addressing the lack of diversity in housing valuation head-on with the formation of an interagency task force on Property Appraisal and Valuation Equity (PAVE). Here are the details of the PAVE Task Force. They just had their first meeting and this is a serious effort unlike the silliness of TAF’s bureaucratic actions of the past year that were nothing more than window dressing to the lack of diversity problem within the appraisal industry. Incidentally, The Appraisal Foundation is not part of PAVE Task Force. Keep that in mind when you read their bat-shit crazy letter again and think about the fact that...

The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…
Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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DOJ Goes after CoreLogic!

VaCAP Board — Tue, 28 May 2019 12:30:23 +0000

If the DOJ investigation proves fruitful, it is possible appraisal data could be investigated as well… The Department of Justice has sent a Civil Information Demand (CID) notice to CoreLogic. The CID requires CoreLogic turn over documents and answer questions. The article by Rob Hahn explains that the case revolves around not only the search features of the MLS systems, but the contracts and agreements on the use of MLS data by CoreLogic. If this investigation proves fruitful, it is possible appraisal data could be investigated as well. If this is the case, it will be a fast rolling snowball...

My Day as an Appraiser Big Corporations like CoreLogic are like sharks... This morning, as I do every morning, I made some coffee and began…
Theft of Appraisers' Data ...they charge appraisers an upload fee for the privilege of having their data stolen... I would never allow my data…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

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Is It Possible to “Prove” an Adjustment?

George Dell — Tue, 20 Nov 2018 13:30:26 +0000

We read articles and advertisements on how to prove an adjustment. Is this possible? How wonderful it would be. To prove an adjustment, just push a button and bam! Out comes the correct answer. How could we have we missed this? …prove an adjustment, just push a button…Of course, if such a simplistic and exact answer was possible – anyone could push that button. An AVM run, a BPO agent, an “evaluator”, or anyone else. Who needs all that USPAP competence and integrity stuff? Even a lender-appointed hybridized “field inspector” could just push the button. The whole process could even skip working with the licensed appraiser completely!...

Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

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Appraisal Simulator

VaCAP Board — Wed, 23 May 2018 12:30:15 +0000

The industry is working of an appraisal simulator… The US House of Representatives Passed S 2155 today! Section 103 allows for waivers of appraisals by licensed appraisers in certain situations. See the bill here. Other News: Last week The National Association of Realtors held their Real Property Valuation Committee meeting. We have 2 VaCAP members on this committee. Here is a brief over view of the meeting from our representative in attendance. John Brenan with the Appraisal Qualifications Board (AQB) spoke at the meeting and gave an update on the roll back of licensing requirements that went into effect May 1st....

West Virginia Appraisal Board Scheme The Doomed Quest to Reform a corrupt West Virginia Licensing Board “Board members earn money working for a law firm…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
Dear Representative, FNMA Has Gone Rogue! Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending…

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How Fast Can Your Head Spin?

VaCAP Board — Tue, 13 Feb 2018 13:30:00 +0000

Hopefully you have been busy and have not noticed VaCAP has been quiet over the past few weeks. Not by choice, but necessity. You see, there has been so much happening, we have been overwhelmed and our heads are spinning out of control. VaCAP needs more members to volunteer to help us help you. Let us know how you can help. Let’s start with the easy stuff: The Virginia Real Estate Appraiser Board Quarterly Meeting will take place on February 21, 2018. The meeting will begin at 10:00 AM and there will be a public comment period for anyone who wishes to address...

Reclassifying Appraisers as Employees Classifying Appraisers as Independent Contractors - an Issue for Appraisal Firms and Maybe AMCs Too A hot legal issue that…
Legislative Call to Action Bill removes consumer protection and legalizes bad behavior by AMCs. Now is the time to contact your legislators with comments.…
Dangerous Pending Bill in US Senate Appraisers, If you work in Rural Areas [that definition is referenced in (b)(1) below], your appraisal livelihood is threatened by this…

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Appraisal Alternatives

IDFPR Board — Mon, 09 Jan 2017 13:30:00 +0000

Computers eliminating “boots on the ground” residential appraisers. An historian once quipped, “I cannot predict the future, but give me six months and I’ll tell you why it was inevitable.” Residential appraisers who work in the mortgage arena began to experience the sea change when UAD arrived amongst much fanfare in September of 2011. Years of portals, hard-stops, and overrides have settled into an uneasy routine. We’ve already seen changes to closing docs as a result of TRID (TILA RESPA Integrated Disclosures). That adventure began in November 2013. Washington DC, never content to maintain any level of consistency has already...

Dear Representative, FNMA Has Gone Rogue! Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…

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AI Current Path is a Serious Issue for ALL Appraisers

Michael Ford — Mon, 12 Dec 2016 13:30:01 +0000

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...

The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…

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AQB Changing Course on Appraiser Qualifications?

Dave Towne — Mon, 13 Jul 2015 12:30:17 +0000

Is AQB Potentially Changing Course on Appraiser Qualifications? Appraisers & others, The Appraisal Qualifications Board (AQB) is one of the voluntary Boards under The Appraisal Foundation. Their role is to analyze, debate, review, and decide the minimum qualifications necessary for a person to become an appraiser. While all who currently or in the past have served on this Board, are individually good and experienced people, collectively by Board action they have nearly caused residential appraising to grind to a halt due to their highly restrictive policy decisions. Yes, this a strong statement, and ‘halting’ won’t happen until the majority of current...

Appraisal Standards Should Age Like Fine Wine Changes in Appraisal Standards?We have barely got into the "New" 2016-2017 copy of USPAP and the ASB is meeting on…
Number of Applications Tell a Story Applications plummeted another 74% Recently the AQB held a public hearing in Washington DC regarding Alternative Experience Requirements and what…
College Degree for Appraisers? Why Do Appraisers Need a College Degree? Let me begin by stating that I hold both a Bachelor’s degree and…

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Appraisal Qualifications Board - Appraisers Blogs

The Illogical Reality of Mortgage Appraisal Reviews

Related Posts:

TAF Is About To Get PAVEd

Related Posts:

DOJ Goes after CoreLogic!

Related Posts:

Is It Possible to “Prove” an Adjustment?

Related Posts:

Appraisal Simulator

Related Posts:

How Fast Can Your Head Spin?

Related Posts:

Appraisal Alternatives

Related Posts:

AI Current Path is a Serious Issue for ALL Appraisers

Related Posts:

AQB Changing Course on Appraiser Qualifications?

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