Tagged: appraiser

American Guild of Appraisers Member John Dingeman Reinstated from Chase "Black List" 2

John Dingeman Reinstated from Chase “Black List”

American Guild of Appraisers Member John Dingeman Reinstated from Chase “Black List” NEW YORK, Jan. 15, 2014 /PRNewswire-USNewswire/ — After a fight that lasted more than fifteen months, involving Chase Manhattan Bank, the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC), American Guild of Appraisers (AGA) member John Dingeman was vindicated when Chase agreed to reinstate him to be eligible for appraisal assignments.  AGA is an affiliate of the Office and Professional Employees International Union (OPEIU), AFL-CIO. Dingeman was placed on Chase’s “Black List” in May 2012 after he refused to release information...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / CFPB

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Guidance on Valuing Green Buildings

Appraisal Institute Issues Guidance on Valuing Green Buildings When valuing green buildings, real estate appraisers’ analysis must be supported by market data on the subject property that helps explain why it stands out from its conventional peers, according to guidance issued today by the Appraisal Institute and the Institute for Market Transformation. Seeking to assist owners who retrofit an existing building or build a new one with energy-efficient features, the two organizations issued “Green Building and Property Value A Primer For Building Owners and Developers.” “As owners and developers enhance buildings with energy-efficient features, appraisers can help make the case...

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

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2014-2015 USPAP Now Available On-Line

The 2014-2015 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available on-line. This edition of USPAP is valid for two years, effective January 1, 2014 through December 31, 2015. The new edition includes the standards of professional practice for all appraisal disciplines as well as guidance from the Appraisal Standards Board (ASB) in the form of USPAP Advisory Opinions and USPAP Frequently Asked Questions (FAQs), featuring a compilation of more than 300 questions and answers. To access the 2014-2015 USPAP on-line edition

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB / The Appraisal Foundation

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Fannie Mae’s Appraiser Quality Monitoring List FAQs

Appraiser Quality Monitoring Information Fannie Mae has published a new web page with information about the recently implemented Appraiser Quality Monitoring (AQM) process. The new AQM web page includes FAQs and a link to the AQM list identifying appraisers whose appraisals will be subject to 100% review by Fannie Mae or whose appraisals are no longer accepted by Fannie Mae. The AQM list is protected content, and approved Fannie Mae sellers/servicers may set up access through Technology Manager. Appraiser Quality Monitoring (AQM) FAQs Fannie Mae began collecting appraisal data in 2011 through the Uniform Collateral Data Portal® (UCDP®). Millions of...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Quality Monitoring / Appraisers News

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Mortgage Disclosure Rule Alters Appraisal Fee Reporting

The Appraisal Institute on Dec. 17 finalized its review of the Consumer Financial Protection Bureau’s 1,888-page final rule on Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act and the Truth in Lending Act, and noted several provisions that impact real estate appraisers and how appraisal fees are reported. The rule, which takes effect Aug. 1, 2015, mandates the use of two new disclosure forms, the Loan Estimate (which replaces both the Good Faith Estimate and the initial Truth in Lending Disclosure) and the Closing Disclosure (which replaces both the HUD-1 and the final Truth in Lending Disclosure). It...

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

2014-15 USPAP Modifications 0

2014-15 USPAP Modifications Released

2014-15 modifications to USPAP become effective 1/1/2014 In preparation of the new 2014-15 modifications to USPAP effective January 1, ASA’s Ethic’s Committee has prepared a brief summary outlining the modifications. The Appraisal Standards Board (ASB) 2014-15 modifications to USPAP become effective January 1, 2014. These modifications include: Revisions to the DEFINITIONS of “Assignment Results” and “Scope of Work” — Based on comments received, there was a need to clarify the definition of ‘Assignment Results.’ In an appraisal assignment, assignment results currently include more than just the appraiser’s opinion of value, as the appraiser is responsible not only for the opinion...

American Society of Appraisers / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASA

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Appraisal Quality and UCDP Notification

On December 10, 2013, Fannie Mae issued a lender letter focusing on appraiser selection, data quality issues, and new processes for appraiser monitoring, and has added messages in UCDP related to appraisals from specific appraisers. Appraisal Quality Fannie Mae began collecting appraisal data in 2011 through the Uniform Collateral Data Portal® (UCDP®). Millions of appraisals have been submitted by lenders and their authorized agents through UCDP. UCDP enables Fannie Mae to monitor and evaluate appraisals for data accuracy and consistency. The purpose of this Lender Letter is to remind lenders of Fannie Mae’s appraiser selection requirements, highlight several data quality...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Quality Monitoring / Appraisal Subcommittee / Appraisers News

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What You Say Can and Will Be Used Against You

Does this sound familiar? If so, I hope it’s because you watch a lot of shows like Law & Oder on television and not for any other reason. If this doesn’t sound familiar, it is one part of the Miranda warning police must give to criminal suspects before questioning them. How does that apply to you? Well, it can have equally negative consequences in a civil case (insurance claim) also. To see if you need to read any further, take this short quiz. If you answer “yes” to any one of these questions, you’d better read it all. Do you...

Appraisal / Appraisal News / Appraisers News / E&O / Errors & Omissions

Appraisal reviews golden rule 2

Appraisal Reviews and the Golden Rule

I believe in the Golden Rule when it comes to field and desk reviews. As I have mentioned before, when I was going through my Trainee years, my Supervisor was actually located in another state. It was a different world back then. Though my Trainer was geographically competent in the area I worked, he was not physically ‘there’ most of the time. Fortunately, I was able to find a local—and seasoned—appraiser who lived 20 minutes from my office.  Though he was technically my ‘competition,’ this grandfatherly man was always happy to sit down for a soda and a visit whenever I stopped...

Appraisal / Appraisal News / Appraisers News

Simplicity is Genius 1

Simplicity is Genius

As the title states, simplicity is genius. Every once in a while I read reports where the appraiser wishes to blazon their diction; demonstrating their professional expertise and industry knowledge to such a degree that absolutely no one can understand their findings or opinions of value. Also what he said was “Simplicity is Genius”.It is at those times that I remember a very simple, humble man who taught me to appraise and to live and enjoy my life. He would say to me, ”Never look too sharp, or speak too wise.” Also what he said was “Simplicity is Genius”. In...

Appraisal / Appraisal News / Appraisers News

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