Tagged: license

Appraisal Simulator, Evaluations, S2155 update, & Recap of Meetings 16

Appraisal Simulator

The industry is working of an appraisal simulator… The US House of Representatives Passed S 2155 today! Section 103 allows for waivers of appraisals by licensed appraisers in certain situations. See the bill here. Other News: Last week The National Association of Realtors held their Real Property Valuation Committee meeting. We have 2 VaCAP members on this committee. Here is a brief over view of the meeting from our representative in attendance. John Brenan with the Appraisal Qualifications Board (AQB) spoke at the meeting and gave an update on the roll back of licensing requirements that went into effect May 1st....

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / AQB / NAR

http://appraisersblogs.com/wp-content/uploads/2018/02/AQB-qualifications-criteria-changes-5.2018.pdf 11

AQB Qualifications Criteria Changes

Folks, I wanted to wait to send info about this until the AQB actually published a document showing the actual ‘new’ Qualifications Criteria for Real Property Appraisers. When first announced a few days ago, no official document was posted – only a news release. These take effect May 1, 2018. See the attached 4 page PDF. Due to ‘states rights’ issues in 54 jurisdictions (states & territories), implementation may not actually happen on 5/01/18. The document says this: “Because state appraiser regulatory agencies are only required to adopt minimum AQB Criteria, it is crucial that candidates contact their state to determine if the state intends...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / AQB / The Appraisal Foundation

Senior Citizen Homeowner Rejects Hybrid Appraisal - AppraisersBlogs 27

Homeowner Rejects Hybrid Appraisal

Appraiser Alert: Don’t Mess with a 4’ 10” Senior Citizen! Last week I called a borrower to schedule the appraisal appointment. She asked me some very odd questions; “Are you a licensed appraiser? What is your license number? How can I verify this information?” Well I had never been asked any of these questions in my entire career, but I answered as there really wasn’t anything I was hiding. It was 19 degrees outside when I arrived at the property and this senior citizen, not more than 4 feet 10 inches tall, was sitting on the porch. I proceeded up the porch...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Another Appraisal Waiver Request 101

Another Appraisal Waiver Request

Another Appraisal Waiver request has been sent to the ASC. This time from City Bank and Trust in Oklahoma. The bank is claiming a shortage of acceptable appraisers in the area. Their solution: “Our bank has on staff an individual who has maintained a Certified Residential Appraiser license until April 2017. This individual has provided acceptable appraisals and evaluations for the past 20+ years. He determined to allow his license to expire due to the rather burdensome CE requirements and the distance to and from approved course within the state. With the educational requirements, training process, number of hours required...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News / ASC

Who doesn't like a good BRAWL 4

Who doesn’t like a good BRAWL?

So who doesn’t like a good BRAWL? Brokers Rallying Against Whole-Tail Lenders (BRAWL) is a network of independent mortgage brokers who have joined together against unethical practices by wholesale lenders. The group has created the term “Whole-tail”, a combination of wholesale and retail for those lenders who close both wholesale and retail mortgages. The group claims that some bad wholesale lenders are using the brokers to obtain client information to solicit clients directly through the lenders own retail divisions and affiliates. “Mortgage brokers are beyond tired of various wholesale lenders acting like they’re on our team, when they’re actually just...

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

AMC Non Grata 13

AMC Non Grata

I’m coining the phrase AMC non grata… Appraisers, There’s an old, accepted diplomatic term being used by US government folks these days: “persona non grata‘. It refers to a diplomat or other approved foreign nation person being involuntarily removed from the host country, on very short notice. In the most recent case it applies to Russians being expelled from the US due to the alleged actions of their government in the last election. ‘Persona non grata’ got me to thinking. We have instances in our profession where AMC’s become expelled from our businesses. So I’m coining the phrase AMC non...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / E&O

Amateur AMCs Misguided Requests 12

Amateur AMCs

Amateur AMCs Misguided Requests & Unecessary Demands… Folks, I’ve written consistently over many years about the misguided request many lenders and AMCs have about “requiring” appraisers to include a copy of their license and E&O binder page in reports. I have consistently suggested appraisers PUSH BACK whenever you encounter this demand when it is in the list of items to be included, shown in the AMC assignment engagement documents. I’m not the only one doing this. It is absolutely essential that you review these docs prior to accepting and doing any assignment for anyone, especially the multiple new amateur AMCs...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / E&O

Appraiser Qualification Board Moving Like a Turtle 16

AQB Moving Like a Turtle

Appraiser Qualification Board moving like a turtle in solving how to get more people into the appraisal profession. I recently returned from a trip to Maui, Hawaii. While there, we saw two beaches where the ‘famous’ green sea turtles were lounging around during the day. Kinda reminded me of how slowly the Appraiser Qualification Criteria (AQB) is reacting to the near shut-off in getting new and younger people into our business. AQB didn’t take real constructive action at their Nov. 18, 2016 public meeting, but they did provide this riveting synopsis of what they did do during the meeting: On...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / AQB / The Appraiser Qualifications Board

Tell Them to Find Some Other Lesser Experienced Appraiser 16

Tell Them to Find Some Other Lesser Experienced Appraiser

Tell them they are NOT needed in the report. The march of many appraisers who blindly comply with AMC & other lender ‘demands’ to INCLUDE YOUR E&O BINDER PAGE and FULL SIZE LICENSE COPY in every report. Inclusion of your E&O Binder in reports is the quickest and easiest way to have your report challenged, and for you to be sued. Why would you want to do that? Inclusion of your license copy is absurd. Your license info is already in every single report you submit, or hadn’t you noticed that tidbit of info? If AMC clerks tell you that...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / E&O

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Appraisers Shortage? A Personal Story

Very large lender who treats appraisers poorly… I received an email from an AMC I have not worked for before at 2:15 PM. They were looking for an appraiser to complete a 1004 report for a very large lender who treats appraisers poorly. The property is in a suburban/rural area, on 5 acres, about 30 minutes from my office. I responded that I could do it, but not until early NOVEMBER, due to being fully booked until then. I requested the rep let me know if that would work for the AMC, and if so, I would then provide my...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Coester VMS

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