Tagged: Dodd Frank Law

9

Evolution of C&R fees – Alter Your Thinking

Appraisers reluctant to force actual C&R fees on AMC clients… Appraisers, I’ve spent the last two days reviewing the ‘new Rule’ involving the registration of AMCs, which has – buried within it by reference – information relating to Customary and Reasonable Fees for appraisal reports. I’m grateful to an appraiser acquaintance in Pennsylvania for her assistance. Below is a 4 page document that shows the mentions of “C&R Fees” – and how those apply to AMCs. You may forward this to anyone else, or may use this information in any article or publication disseminated to appraisers, lenders, AMCs, other clients...

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

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

10

AMCs to Pay Appraisers C&R Fees

Call to Action in Support of Virginia Senate Bill Requiring AMCs to Pay Appraisers C&R Fees Appraiser Colleagues, Finally, you have an opportunity to get what you have been screaming for: customary and reasonable fees for your work. On January 23, 2015, Senator Martin offered Senate Bill NO. 1445, requiring appraisal management companies to pay appraisers customary and reasonable fees. The bill mirrors the language in Dodd-Frank. A copy of SB 1445 as introduced is attached. Please contact your legislative representatives in support of this important legislation. VAR’s support will be important to the success of this bill. Please include VAR...

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

Fannie Mae Claims the CU Process Will Improve Appraisals 5

CU Process Will Improve Appraisals? A Pipedream or Reality?

Fannie Mae Claims the CU Process Will “Improve Appraisals.” A Pipedream or Reality? Appraisers, A few days ago, I watched the FNMA eLearning webinar “Introduction to CU” video showing how their new Collateral Underwriter will be implemented, starting on Jan. 26, 2015, applying to 1004 and 1073 Reports (initially). You really should watch this also!  CU applies to FANNIE MAE only; FreddieMac, VA, FHA, USDA are not involved at this time. Click this link, and you’ll find the link to the video ½ way down on the left. I captured a few screen shots of their presentation to help explain...

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

10

Working for an AMC? How Exciting!

Can You Tell I’m Excited about working for an Appraisal Management Company? Today I received a notice telling me my best customer was changing over to an AMC for all their appraisal ordering. I have worked for this company for many years and have always enjoyed a great relationship. Today that ended. I can longer talk to any person at the bank. In my application to continue working for this company I have worked with for so long, I have to provide sample reports, a resume, three business references, license info, info about CE classes I have taken. I have...

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

Virginia Study on Customary & Reasonable Fees for Residential Appraisals 1

Residential C&R Fees Study in Virginia

Virginia Study on Customary & Reasonable Fees for Residential Appraisals BLACKSBURG, Va., Oct. 7, 2014 – Virginia Tech researchers and students conducted a survey of Virginia residential real estate appraisers to analyze the patterns of fees earned in 2013. Prior to the release of this report, no data existed that defined “customary and reasonable” residential real estate appraisal fees in Virginia. This report is the third report of its type to be conducted in the United States, and the first in Virginia. The research was conducted in response to recent amendments to the Truth in Lending Act modified by the...

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

0

Real Estate Appraiser Lifestyle

I cannot help but wonder why more appraisers do not jump ship and find another career if it is so bad out there. Now, I am not without compassion. I know it is not as easy as trading in your clipboard for a spatula. Changing jobs is a difficult process and does not happen without much consternation and heartache. However, I tend to think that so many of us are sticking it out because…

Appraisal / Appraisal News / Appraisers News / Dodd-Frank Act / C&R Fees / Home Valuation Code of Conduct / HVCC

6

You Are Being Robbed Blind

You Are Being Robbed Blind (24 Hour Membership Deadline) AMCs are concealing their profits within YOUR appraisal fee, and using coercion to drive down YOUR income as far as they can. This government-permitted process allows them to rob you blind while building their appraiser-squeezing power even stronger. NOW is the time to take a stand to fix this broken industry and the career you have spent a lifetime building. The Appraiser Prosperity Coalition was formed to fight for the legislative and regulatory changes needed to save this devastated industry. If you are willing to join us today, we can defeat the...

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

AMC Rules Inconsistent with Congressional Intent - Banking Agencies 2

Agencies AMC Rules Lack Guidance

Banking Agencies are Told Proposed AMC Rules Fall Short on Guidance In comments filed June 6 with several federal banking agencies, the American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers expressed our concerns that rules proposed to regulate appraisal management company (AMC) conduct lack sufficient detail to allow for effective implementation. Additionally, the organizations expressed concern that some provisions of the proposed rule depart from Congress’s intent when the enabling law was included in the Dodd-Frank Act, and could negatively affect the overall public policy goals. In the comment letter, ASA and NAIFA cover numerous...

AMC / American Society of Appraisers / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

6

Announcing VT Customary and Reasonable Fee Survey Release

Dear Appraiser Colleagues, Awhile back, you responded to a request from VaCAP to supply your e-mail address to participate in an upcoming Customary and Reasonable Fee Survey to be conducted by the Virginia Center for Housing Research and the Virginia Tech Program in Real Estate. This communication is to notify you of the survey’s eminent release. Please look for it to be sent to you via e-mail in the next couple of days. Your participation in the survey is vital to the success of this endeavor. Please take the few minutes necessary to complete the survey; it should only take...

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

xml sitemap
blank