Tagged: IRS

Hacked! Are We to Rely on FNMA to Keep Our Private Tax Info Protected? 12

Is Your Private Tax Info Protected?

Even the Pentagon gets hacked! Do Consumers really KNOW how their loan application data is being handled? Having worked for IRS, I know it is against the law for any government employee to divulge specific (identifiable) taxpayer information without exceptional effort to get advance approval. There is no legal way for that personally identifiable taxpayer information to get into the public domain without the taxpayers specific written permission for it. Even inside IRS, we were required to protect the identification of the taxpayer in any case related situational discussions where we sought each others advice. We could talk about the...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Fannie Mae - Freddie Mac

Driver for Appraisal Inspections? Do You Need an Appraiser Driver? 9

Do You Need an Appraiser Driver?

Using a Driver for Appraisal Inspections… Anyone who’s followed me for a while knows that I have three main aims. I want to help real estate appraisers make their business more efficient, more effective, and generate more money. People almost always assume that making more money relies only on cutting costs. This is completely inaccurate. If you become more efficient and more effective, and work smarter instead of working harder, then you’ll start boosting your income. In the past, one of the ways in which I’ve made my work more efficient, and in effect spent money to make more money,...

Appraisal / Appraisal News / Appraisers News / Business Development

Geographical Competency...What the Flip is it? - AppraisersBlogs 19

What the Flip is ‘Geographic Competency?’

I want to talk today about one of my biggest pet peeves in the whole real estate appraisal industry: geographical competency. We belong to an industry in which large numbers of people are failing to make a living, and being forced to leave. It’s sad, but it can be reversed. One of the major changes that is needed regards geographical competency. We throw this phrase ‘geographical competency’ around a lot, and pretend that it means something. Does it really? Well, if you go and take a look in USPAP, I don’t think you’ll find it there. You’ll find the competency...

Appraisal / Appraisal News / Appraisers News / Uniform Standards of Professional Appraisal Practice / USPAP

HUD Tag # on Manufactured Homes Missing? Solution for Appraisers 22

Missing HUD Tag # on Manufactured Homes

Sometimes NO HUD Tag number can be found… Appraisers, Regarding Manufactured Homes (MFH), sometimes NO HUD Tag number can be found on, or in, the MFH. However, this number is required to be entered on the 1004C appraisal form. Loans for MFH’s cannot be processed without these numbers. The HUD Tag is the metal plate(s) attached to the rear of each section. Numbers are usually sequential, with three letters as the prefix. Inside the home, someplace, should be a paper ‘Data Plate’ with the home serial number, HUD Tag #’s, and other data. But often the Data Plate cannot be found, and...

Appraisal / Appraisal News / Appraisers News / HUD / The US Department of Housing and Urban Development / Trending

Bid Request to Find the Lowest Bidder Coming Soon to Mercury Network 61

Let the Bids Begin!

Bid assignments are more often than not awarded to lowest bidders… For the past couple of days, we have been hearing rumors about Corelogic beta testing a “Residential Bidding” system for Mercury Network. It is no longer a rumor. It will be launched in late August. It did not take Corelogic long, after it acquired Mercury Network, to implement some changes. The bidding system will allow their customers to request bids from multiple appraisers. They claim that this feature will help their clients find an appraiser faster. Yet, will this be the primary reason it will be used? Based on...

Appraisal / Appraisal News / Appraisers News / Trending

Metro-West Solicitation Blast & Appraiser's Response 48

Appraiser’s Response to Metro-West

Metro-West Appraisal, thank you for your bulk email solicitation… I will consider accepting work from you on the following basis: My minimum fee for non complex FNMA guideline compliant SFRs is $550 (net). There are no exceptions. Any upload fees or other forms of service charges  or ‘convenience’ fees will be added to that fee. I do not accept or authorize discounting of the fee for any reason. The premium or surcharge for property with a transaction amount or other characteristic that requires completion by a certified appraiser, is a minimum of $250. However the final bid will depend on...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News

Residential Appraiser Abandoned & Neglected by the Appraisal Institute 111

AI Ignored the Residential Appraiser

AI all but abandoned the residential appraiser… I have been a member of the Appraisal Institute (AI) for many years and the organization has always been tilted toward the Certified General Appraiser. I am Certified General and recognized this long ago. I think the education of the AI is the best with no comparison for both residential and commercial and their publications are second to none. The AI has long neglected the residential appraisers as they sent in their $300 per year. The AI completely dropped the ball starting in 2007 when the crash began. The Appraisal Management Company (AMC)...

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

Human Brain, AMC app & Appraisers - Bend Over & Ask for More 49

Bend Over and Ask for More…

GUILTY of not using human brain power of thinking and communicating… More Please… How many of you can honestly state with all sincerity the appraiser is better off today with the use of Appraisal Management Companies (AMCs)? How many of you can say with all sincerity the consumer is being protected with the use of an AMC? How many of you can, with all sincerity state your business model is how you want it? How many of you are happy with the current environment of the industry? If you answered yes, congratulations, you have found your peace. You should stop reading...

AMC / Appraisal / Appraisal Management Companies / Trending

Clear Capital Push For Hybrid VA Appraisals 54

Clear Capital’s Push For Hybrid VA Appraisals

Clear Capital suggests that the VA consider the use of a desktop appraisal On April 4, 2017, the House Committee on Veterans Affairs held a hearing on “Assessing VA Approved Appraisers And How To Improve The Program For The 21st Century.” The hearing was designed to “assess VA’s current appraisal process, as well as specific difficulties for timely appraisals in highly rural areas”, as well as to investigate possible technological solutions to mitigate timeliness issues. Much of the hearing focused on two areas: The requirements for becoming a member of the VA appraiser panel, and the baseline requirements for comparable...

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

Is There a Fourth Approach to Real Estate Value? 17

Is There a Fourth Approach to Real Estate Value?

I want to talk to you about the fourth approach to value… …and specifically an occasion on which it truly saved my bacon. Now, I know a lot of you real estate appraisers out there probably started chuckling as soon as you read the words ‘fourth approach to value.’ If you did, I get it, believe me! I used to be the same way. Over time, however, I’ve grown to see how it can often be a vital part of the valuation process. Let’s have a quick recap for anyone who’s either forgotten the fourth approach, or never learned it...

Appraisal / Appraisal News / Appraisers News

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