home inspection - Appraisers Blogs https://appraisersblogs.com/tag/home-inspection/ Appraisal News and Tips for Real Estate Appraisers Mon, 17 Aug 2026 04:06:02 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://i0.wp.com/appraisersblogs.com/wp-content/uploads/2015/04/ABfavicon.png?fit=32%2C32&ssl=1 home inspection - Appraisers Blogs https://appraisersblogs.com/tag/home-inspection/ 32 32 52046035 Uncovering Flaws in FHA Appraisal & Loan Review Process https://appraisersblogs.com/uncovering-flaws-in-fha-appraisal-n-loan-review-process/ https://appraisersblogs.com/uncovering-flaws-in-fha-appraisal-n-loan-review-process/#comments Mon, 15 Jul 2024 12:30:32 +0000 https://appraisersblogs.com/?p=31044 The story of this single mother’s harrowing experience with a defective home purchase and HUD’s negligent oversight exposes deep flaws in the FHA appraisal and loan review process. After sacrificing for years to rebuild her credit and earn the right to become a homeowner, this borrower found her dream home in the country – or so she thought. During the home inspection, several issues were flagged. The seller, an investor who had purchased the home in an estate sale, was unaware of the septic system’s location. The seller agreed to have the tanks pumped so the location could be determined....

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  • AMC Reviews of Appraisals Only the lender's Underwriter should be able to request changes to the report and the lender should be the one…
  • The Appraisal Problem Gone are the days of hiring a professional appraiser to solve the appraisal problem. For decades lenders have taken on…
  • Scope Creep & the Imploding of Rules ...the imploding rules then implemented, and the scope creep that evolved because the cart was leading the horse, has severely…

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]]> https://appraisersblogs.com/uncovering-flaws-in-fha-appraisal-n-loan-review-process/feed/ 44 31044 Foregoing Contingencies! But What About Fiduciary Duty? https://appraisersblogs.com/foregoing-contingencies-what-about-fiduciary-duty https://appraisersblogs.com/foregoing-contingencies-what-about-fiduciary-duty#comments Tue, 27 Jun 2023 12:30:21 +0000 https://appraisersblogs.com/?p=29625 By foregoing contingencies such as home inspections and appraisals altogether, mortgage lenders risk violating their fiduciary duty – which is supposed to prioritize the interests of the borrower above all else. It is no surprise that some loan officers are salivating over the prospect of not having to wait for a full appraisal or a home inspection. After all, who doesn’t want to close more deals in less time? While this may be beneficial from a broker’s perspective, it could result in borrowers making decisions without being fully informed about their investment. Kim Nichols, senior managing director of Pennymac TPO,...

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]]> https://appraisersblogs.com/foregoing-contingencies-what-about-fiduciary-duty/feed/ 14 29625 ASA Concerned About the Expansion of FNMA Appraisal Waiver Program https://appraisersblogs.com/asa-concerned-about-the-expansion-of-fannie-mae-appraisal-waiver-program https://appraisersblogs.com/asa-concerned-about-the-expansion-of-fannie-mae-appraisal-waiver-program#comments Thu, 06 Apr 2023 12:30:48 +0000 https://appraisersblogs.com/?p=29206 In response to the Federal Housing Finance Agency’s (FHFA) decision to allow Fannie Mae to expand its appraisal waiver program, the American Society of Appraisers (ASA) has released an op-ed by ASA’s Strategic Partnership Officer, John D. Russell, JD, criticizing this move. ASA believes that by expanding the appraisal waiver program and relying on data and models for mortgage lending instead of human interaction, Fannie Mae is leaving behind two very important aspects: safety and soundness as well as consumer protection. The fear is that overvaluation may occur due to a reliance on models which always try to chase value...

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  • Eroding Consumer Protection Waiving appraisal requirements on residential homes could erode consumer protection, stall attempts to create diversity in the profession... The recent…
  • 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…
  • No Appraisals Required. The End of Appraisers? No appraisal may be required in the future! Fannie Mae took a direct shot at appraisers with the announcement of…

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]]> https://appraisersblogs.com/asa-concerned-about-the-expansion-of-fannie-mae-appraisal-waiver-program/feed/ 22 29206 Appraisal Waivers and Hybrid Appraisals https://appraisersblogs.com/appraisal-waivers-n-hybrid-appraisals-false-narrative https://appraisersblogs.com/appraisal-waivers-n-hybrid-appraisals-false-narrative#comments Fri, 04 Oct 2019 12:30:30 +0000 https://appraisersblogs.com/?p=22849 The fallacy of those who endorse Hybrid appraisals is their assumption that the appraiser’s field work is less valuable, less important, than their analytical work behind a computer. They feel the task of inspecting the property and driving comps is best farmed out to someone else with less training. The real truth is that the field work is critical! There is no way an appraiser can credibly analyze a property through the eyes of another… The Need for Speed: In a previous post entitled The Need for Speed, I explained that lenders and Appraisal Management Companies are on a mission to shorten the...

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]]> https://appraisersblogs.com/appraisal-waivers-n-hybrid-appraisals-false-narrative/feed/ 23 22849 Appraiser Imposters! https://appraisersblogs.com/cheap-appraiser-imposters-vs-qualified-appraisers https://appraisersblogs.com/cheap-appraiser-imposters-vs-qualified-appraisers#comments Thu, 16 May 2019 12:30:44 +0000 https://appraisersblogs.com/?p=21930 AMC sends a “non-appraiser” to photograph, measure, sketch, and observe a property, it’s quality, condition, and surroundings instead of using a qualified appraiser… I’m not an Appraiser, You just think I’m one Ever see the AT&T commercial where the surgeon walks in and he says “I Just got reinstated, Nervous? That’s ok so am I”. If not see here:   Or the late 1986 commercial with Peter Bergman that states I’m not really a doctor but I play one on TV.   Well get ready Consumers because the person that is about to visit your home IS NOT an appraiser...

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]]> https://appraisersblogs.com/cheap-appraiser-imposters-vs-qualified-appraisers/feed/ 29 21930 Appraisal Independence https://appraisersblogs.com/score-card-turn-times-undue-pressure-n-appraisal-independence https://appraisersblogs.com/score-card-turn-times-undue-pressure-n-appraisal-independence#comments Wed, 15 May 2019 12:30:16 +0000 https://appraisersblogs.com/?p=21921 Most appraisers could care less about an amc score card… Professionals don’t treat other professionals like they are in grade school… What exactly is appraisal independence? Dodd Frank requires appraisal independence and associates it with pressure against the value of the property. But what about other areas of the appraisal process in which appraisers receive pressure? Let’s take turn times for example. Normal turn times in a steady market average 5-7 business days in most markets. Market activity, location, complexity, etc. will require longer turn times. First let’s define a business day. This is Monday through Friday and excludes Federal...

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]]> https://appraisersblogs.com/score-card-turn-times-undue-pressure-n-appraisal-independence/feed/ 16 21921 Robust & Precise Inspections – Hybrids V https://appraisersblogs.com/pesky-appraisers-removed-from-field-inspections-4-hybrids https://appraisersblogs.com/pesky-appraisers-removed-from-field-inspections-4-hybrids#comments Mon, 01 Apr 2019 12:30:43 +0000 https://appraisersblogs.com/?p=21280 No more pesky appraisers blowing up sales commissions & bonuses & salaries… A “hybrid” appraisal is a new name for where the property inspection is separated from the analysis and appraiser’s certification. It is faster and cheaper and… This is Part 5 of a (soon to be, so far) six part discussion of Hybrid Appraisals. Part One, Two, Three, and Four are behind these links. Many years ago, I had several trainees, and as each gained experience and competence going out with me, I first let them inspect homogeneous neighborhoods, with me driving by on the outside to check on locational and optimal use issues. In time, they did...

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]]> https://appraisersblogs.com/pesky-appraisers-removed-from-field-inspections-4-hybrids/feed/ 22 21280 Appraisals, Fees, Lenders and Lies… https://appraisersblogs.com/appraisal-business-fees-lenders-lies https://appraisersblogs.com/appraisal-business-fees-lenders-lies#comments Wed, 09 May 2018 12:30:43 +0000 https://appraisersblogs.com/?p=17979 Can you think of a single business where an individual has less control over their own financial future than the appraisal business? In most professions, your level of success is dependent on your personal work ethic, dedication to education, promptness of service, and overall level of quality. But, no, not in the appraisal industry. The HVCC took all that away. In the vast majority of circumstances, appraisers in any general market are paid the same fee. An average appraisal in Moore County, NC is worth $450.00. A VA appraisal $500.00. It doesn’t matter if you’ve been licensed six months or...

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]]> https://appraisersblogs.com/appraisal-business-fees-lenders-lies/feed/ 55 17979 Are ‘No Appraisal’ First Mortgages the Future? https://appraisersblogs.com/human-appraiser-fate-booting-appraisers https://appraisersblogs.com/human-appraiser-fate-booting-appraisers#comments Fri, 30 Mar 2018 12:30:43 +0000 https://appraisersblogs.com/?p=17515 A human appraiser usually goes to a home… Appraisers, The article, linked here, purports to say that future mortgage loans will be done without using the services of a “boots on the ground” appraiser… "the human appraiser". Why??… because speed and low cost are paramount when people want to finance their largest investment in their life. From the article: “The appraisal process, which typically is not automated, remains a problem. A human appraiser usually goes to a home, takes pictures, makes sure there’s nothing terribly wrong with the structure. It takes seven to ten days to turn around, van den Brand...

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]]> https://appraisersblogs.com/human-appraiser-fate-booting-appraisers/feed/ 22 17515 Survey about FHA Assignments https://appraisersblogs.com/fha-assignments-survey https://appraisersblogs.com/fha-assignments-survey#comments Tue, 07 Jun 2016 12:30:18 +0000 https://appraisersblogs.com/?p=11994 Tell them what it will take to get you to re-start FHA assignments. FHA Appraisers, A new ‘attitude’ survey about doing FHA assignments has been prepared by the Illinois Coalition of Appraiser Professionals (ICAP). ICAP has a planned meeting with FHA, and will use survey results in their discussion. ICAP has asked that I distribute this, and by association, anyone who gets this may re-distribute via any other outlet, email list, etc. Link to the survey. It will take 4 minutes +/- to do this survey, depending on if you add additional comments at the end. One item the survey...

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]]> https://appraisersblogs.com/fha-assignments-survey/feed/ 30 11994 Why Would You Jeopardize Everything? https://appraisersblogs.com/amc-solicitation-property-inspections https://appraisersblogs.com/amc-solicitation-property-inspections#comments Wed, 01 Jun 2016 12:30:08 +0000 https://appraisersblogs.com/?p=11968 AMC email solicitation asking appraisers to perform “Interior Properties Inspections” for $25-$30 Let me admit to one very important fact… I am old. At least I assume I am since I am over 60. In any event, much of what I know about the cyclical nature of real estate is not based on any scholarly papers I have researched and presented, but rather it is due to the fact that in my professional career I have seen four different downturns in real estate and from that I have gained what is known as real world experience. In other words, I...

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