Tagged: FAQ

Appraisers Should Voluntarily Follow ANSI for Desktops 56

Appraisers Should Voluntarily Follow ANSI for Desktops?

Can someone explain how we should voluntarily follow ANSI standard on desktop appraisals? Appraisers, Fannie Mae has released a new FAQ document to help you understand how to implement and adhere to their ANSI measuring and reporting requirement. See the PDF document below or here. Normally these documents are informative and provide good information. But in reading this one, I’m particularly puzzled by Q13, and I’m not sure if that’s a bad omen or not! Q13 discusses DESKTOP appraisals, for which NO adherence to ANSI is required. It says so, right there, in Q13. And most of us now know...

American National Standards Institute / ANSI / Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac

VA Unofficially Says NOPE to ANSI Measuring Protocol 16

VA Unofficially Says NOPE to ANSI

The other agencies, Freddie Mac, HUD/FHA, USDA, ONAP, VA have NOT (yet) adopted this ANSI measuring protocol. Appraisers, an appraiser I know sent an email to the VA asking if VA was going to require appraisers to adhere to the ANSI Z765-2021 Measuring Standard as of April 1, 2022. The appraiser received an ‘unofficial’ response back from a person within the VA connected to processing appraisals, which said: “The short answer is, no.” I say this is ‘unofficial’ because to-date, I have seen nothing “official” from VA about this topic. Only officials from within VA know whether or not they...

American National Standards Institute / ANSI / Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac

USPAP 2020-2021 Extension Effective Through 2022 - Appraisers Blogs 4

USPAP 2020-2021 Extension

2020-21 USPAP Extension – Does this mean USPAP will be on a three-year cycle going forward? USPAP has been extended for one year, effective through December, 31, 2022. This is the Appraisal Foundation news release, issued on Feb. 19, 2021: Media Contact: Amy Timmerman (202) 624-3048 amy@appraisalfoundation.org BREAKING: 2020-21 USPAP Extended for One Year (Washington, DC) February 19, 2021 – The Appraisal Foundation’s Appraisal Standards Board (ASB) announced today that the current edition of the Uniform Standards of Professional Appraisal Practice (USPAP) will be extended by one year. The 2020-2021 USPAP will now be effective until December 31, 2022. “USPAP...

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

Portal Fees Disclosure & Complying With the Intent of USPAP 16

Portal Fees

Should you disclose portal fees… Appraisers, Some of you know that I have written numerous times about my viewpoint that disclosure of the ‘back end’, and sometimes 'front end' portal fees we appraisers must pay to deliver a completed report to a particular client should be disclosed. You don’t have to report the FEE, only that you had to ‘pay a fee’ to obtain the assignment. If you don’t pay the fee, you technically cannot complete the assignment. My viewpoint has always been, and will remain, that if you cannot technically ‘complete’ an assignment without paying a delivery fee, then the net...

Appraisal / Appraisal News / Appraisers News / ASB / The Appraisal Standards Board / Uniform Standards of Professional Appraisal Practice

Maryland Removes References to USPAP Advisory Opinions 0

Maryland Removes References to USPAP Advisory Opinions

In 2012, AI requested the removal of the references to the AOs and FAQs from the Commission’s regulations…. On April 8, the Maryland Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors completed action on rulemaking that removed the Advisory Opinions and Frequently Asked Questions of the Uniform Standards of Professional Appraisal Practice from being incorporated by reference into the state’s appraiser licensing and certification laws. The move addresses the Appraisal Institute’s long-standing concerns about increased regulatory burdens placed on professional appraisers. Prior to this rule change, the AOs and FAQs were considered by the Commission to be...

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

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Free FHA Webinar on FHA Appraisal Frequently Asked Questions

The Federal Housing Administration (FHA) is offering a webinar on March 20, 2013 on FHA Appraisal Frequently Asked Questions (FAQs): March 20, 2013: – Webinar: This FREE Webinar training will provide clarification to current Underwriting Hot Topics, Insuring/Eligibility Issues and Frequently Asked Questions (FAQs) in today’s FHA lending environment. Topics covered will include: FHA Updates including most recent

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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FHA Updated Valuation Protocol FAQs

FHA Updated Valuation Protocol FAQs Revised 02/28/12 FHA has updated the Valuation Protocol FAQs posted on the FHA Appraiser Roster web page. The most recent FAQ can be found on page 27 of the document and provides clarification for what constitutes an acceptable conventional heating system. You can periodically review the FHA Appraiser Roster web page for alerts on recently published Mortgagee Letters of interest and other pertinent announcements. The publication contains the following topics: New Construction Wood Destroying Insects/Termites Utilities – Well and Septic Inspections & Certifications Cost Approach Accessory Dwelling Units Manufactured Housing Two Unit Properties HECM Appraisals Lender...

Appraisal / Appraisal News / Appraisers News / Federal Housing Administration / FHA / HUD

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