National Association of Independent Fee Appraisers - Appraisers Blogs

Let Appraisers Train Their Own Inspectors

Guest Author — Mon, 25 Mar 2019 12:30:15 +0000

If we are to make a third party inspector liable for the data they provide… FNMA’s recent newsletter states that a third party inspector should be hired to deliver photos, sketches, etc about a property to them. After their review, if they believe an appraisal is needed then they can forward that information to the appraiser and a desktop can be performed with ease and accuracy. In their words, this is no different than an appraiser relying upon other forms of data in the report such as public records, MLS, etc. I really do appreciate the perspective of some who...

AMC Asking Appraisers to Violate State Law ...inducing another to violate... Appraisers Beware! VaCAP has been informed an email has been sent to Virginia Appraisers from Xome…
Desktop Appraisals, Panaceas for Faster Reports ...I’ve discovered a potential anomaly in Desktop reports (and Hybrids also) which might shock some appraisers... Desktop Appraisals, Panaceas for…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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ASC Call for Comments

VaCAP Board — Wed, 14 Mar 2018 12:30:56 +0000

It is important for every appraiser to submit comments… The Appraisal Subcommittee wants to hear from appraisers on Tristar Bank’s request for appraisal waivers. The comment period is open until April 9, 2018. VaCAP has previously participated in a group letter with other organizations and expressed our concerns on this topic. We will once again be part of a group letter as well as send in our own comments. It is important for every appraiser to submit comments on how this is a dangerous slippery slope if the waiver is granted. Consumer protection is the issue and the door will be...

How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

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Better Than Your Favorite Band’s Concert!

VaCAP Board — Wed, 21 Feb 2018 13:30:12 +0000

This will be better than your favorite band’s concert! Watch the oral arguments in the FTC vs LREAB case live in Washington DC on Thursday February 22, 2018! “The Federal Trade Commission (“FTC” or "Commission") will meet on Thursday, February 22, 2018, in Room 532 of the FTC Building for an Oral Argument In the Matter of Louisiana Real Estate Appraisers Board. The public is invited to attend and observe the open portion of the meeting, which is scheduled to begin at 2:00 p.m. The remainder of the meeting will be closed to the public ” VaCAP will be there...

First the Borrower Fee. Now the Appraiser… Two lawsuits place Class Valuation’s fee transparency and staff-appraiser compensation practices under federal scrutiny. Most appraisal disputes examine only one…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Fight Unfair AMC Practices - Leverage State Authorities Alarmed by predatory practices among AMCs, a peer has drafted letters urging appraisers to call on state authorities to address…

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Hybrid Appraisal Created by Appraisers?

Guest Author — Tue, 09 Jan 2018 13:30:46 +0000

Hybrid Appraisal Created by Independent Appraisers? Hybrid appraisals/alternative valuations is the most polarizing topic in the profession these days. With AMC’s all rolling out their new alternative valuation products, wouldn’t it make sense for independent appraisers to come together and create OUR own hybrid/alternative product? This is our opportunity to compete directly with AMC’s and regain control of our profession. The blueprint for this hybrid/alternative valuation model is already in place. We just need to come together, create a better one, and market it to the same investors that are already using them. If independent appraisers got together and did...

The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

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Appraisers’ Voice Just Got Louder

VaCAP Board — Fri, 21 Apr 2017 12:30:47 +0000

ASA and NAIFA Agree to Move Forward with Merger Consideration The American Society of Appraisers (ASA), the original multidisciplinary valuation society, and the National Association of Independent Fee Appraisers (NAIFA), the leading voice for independent professional real estate appraisers, announced on April 18, 2017, they have reached an agreement to move forward with a Memorandum of Understanding leading to the merger of NAIFA with ASA. Boards for both organizations will provide details to their memberships in upcoming weeks for final consideration and approval. The merger will add to ASA’s nearly 5,000 multidiscipline credentialed valuation professionals in over 75 countries and...

You Are Not Alone - AGA How many appraisers do you know that are enthusiastic about the future of our profession? How many appraisers believe that…
Appraisal Alternatives Computers eliminating “boots on the ground” residential appraisers. An historian once quipped, “I cannot predict the future, but give me…
Details of the New AMC Law No paid lobbyist, just appraisers talking with the Senators and Delegates about the abuses of some AMCs... Governor McAuliffe signed…

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Details of the New AMC Law

VaCAP Board — Tue, 28 Mar 2017 14:00:36 +0000

No paid lobbyist, just appraisers talking with the Senators and Delegates about the abuses of some AMCs… Governor McAuliffe signed SB1573 into law requiring appraisal management companies to pay within 30 days of the initial delivery. This becomes law July 1, 2017. Here is how it happened…. Two appraisers, both small business owners, sat down and had a conversation with Senator Frank Wagner about some of the issues appraisers are facing. By the end of the conversation, the three were on the phone with a representative of Legislative Services drafting the verbiage of the bills needed to help protect the...

Consumers Overcharged by AMCs Excessive markups are common but consumers usually “know nothing about it”... The Chicago Tribune has published an article written by…
AMCs Are Not Part of The Appraisal Profession Foreign entities do not get a voice in what legislation is introduced... Let's think about this with an open mind...…
Virginia Real Estate Appraisal Board Made History! On Tuesday February 23rd, The Virginia Real Estate Appraisal Board made history! The legislative code of Virginia states Licensed Appraisal…

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Consumers Overcharged by AMCs

VaCAP Board — Thu, 23 Mar 2017 12:30:49 +0000

Excessive markups are common but consumers usually “know nothing about it”… The Chicago Tribune has published an article written by Ken Harney concerning appraisal fees. The article is very telling of what appraisers already know. Now the consumers are aware. Please read and share the article with your colleagues, agents, local MLS Board, Realtor Board, Appraisal Board and your Legislators. The more the abuses of some AMCs are exposed, the more opportunity we have to protect the consumer. Are you paying unseen add-on fees for your appraisal? By Kenneth R. Harney Are you getting fleeced on appraisal charges when you...

AMCs Are Not Part of The Appraisal Profession Foreign entities do not get a voice in what legislation is introduced... Let's think about this with an open mind...…
Animosity Between Appraisers and AMCs AMCs control the money. We hear a lot about animosity between appraisers and AMCs and this doesn’t make for a…
AMC Dangers to the Consumer Appraisal Management Companies (AMC) are changing how our profession works. It’s important to know exactly how they are affecting the…

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The Decline of Appraisers

Isaac Peck — Mon, 22 Feb 2016 13:30:04 +0000

The problem is not simply that too many appraisers are retiring. Very few appraisers are entering the profession. In Illinois, the drop in real estate appraiser trainee applications went from 1,231 in 2005 to only 55 in 2015. That’s an over 95 percent decline. This drastic reduction in new entrants is being seen in states across the country. Many appraisers welcome the shortage, which has already driven up fees in many areas. But many believe the celebration is shortsighted. A decline in the number of appraisers threatens the integrity of lending and undermines the stability of the real estate market…

Real Estate Appraisers...Who Are We? Appraisers...Who are we? With the current requirements to enter the profession of real estate appraisal, it is likely that who…
Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…
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…

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Raising Appraisal Threshold Levels

AppraisersBlogs — Thu, 17 Dec 2015 13:30:45 +0000

Adjusting appraisal threshold levels On December 2, 2015, Dave Towne called attention to an article on a potential increase in appraisal threshold levels, which appeared in the ABA Banking Journal. Excerpt: The banking agencies are revisiting the dollar thresholds for their appraisal requirements, FDIC Chairman Martin Gruenberg said in Arlington, Va., today at the final outreach meeting for the decennial Economic Growth and Regulatory Paperwork Reduction Act review. “Based largely on comments we have received during these outreach sessions, we have formed an define working group to review the appropriateness of dollar thresholds for transactions requiring appraisals and other requirements...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
GLA Adjustment: Adjusting Full Difference vs a… Appraisers, on Thursday, before the Memorial Day holiday, I circulated across the US an email asking for response to a…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…

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A Contrary Response to The Future of Valuation

Michael Ford — Mon, 05 Oct 2015 12:30:51 +0000

Recently an article appeared in WorkingRE about the Future of Valuation. The author is the President of a large and highly respected Appraiser Peer and Educational Organization. My own contrary response was either too lengthy, or deemed too critical of a big advertiser for publication in WorkingRE. I thank the hosts of this blog for granting the space. My concern with the author’s views starts with the description of our Real Estate Appraisal profession as ‘valuation.’ The concern is more than mere quibbling over semantics. Valuation is the phrase preferred by the Business Valuation community. They have long been dominated...

Thank You Wall Street for Killing off my Hallmark Moments Thank you Wall Street, your mothers must be very proud of you! I’m not sure when it happened, but sometime…
'Customary' & 'Reasonable' Fees - Oxymorons If WE don’t set 'reasonable' minimums for ourselves, then others will do it for us (or to us).Fellow appraisers, Please read…
An Open Letter to the Valuation Profession An Open Letter to the Valuation Profession from the Appraisal Foundation regarding the rift with the Appraisal Institute Value. Appraisers grapple…

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Unintended Consequences of the Dodd-Frank Law and Potential Remedies

Guest Author — Fri, 08 May 2015 12:30:45 +0000

For well over a year, the Columbia Society of Real Estate Appraisers and five other nonprofit appraiser groups have been working on an industry paper entitled Regulatory Issues Affecting the Real Estate Appraisal Profession (subtitled: Unintended Consequences of the Dodd-Frank Law and Potential Remedies). The paper is aimed at informing lawmakers of some of the unintended consequences of the Dodd-Frank law as it relates to appraisers and consumers. We hope that lawmakers will address and correct some of the issues brought to light in this paper. The Letter Over the past year, a select group of professional appraisal organizations have...

Appraisers Should Bristle Stealthy vice again masquerades as public virtue. The head of yet another government-subsidized nonprofit was found funneling cash to…
How U.S. Home Valuations Are Being Subverted At the crossroads of it all is a campaign to weaken or eliminate valuations... The nonprofit is now exploring ways…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…

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Agencies AMC Rules Lack Guidance

AppraisersBlogs — Wed, 18 Jun 2014 12:30:12 +0000

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...

Minimum Requirements for AMCs Proposed Federal Regulation of Appraisal Management Companies (Minimum Requirements for AMCs) I hear a lot from appraisers concerning their interactions…
Federal Register: AMC Final Rule AMC Regulation Rule Finally Published in the Federal Register Appraisers and others, On June 9, 2015, the Federal Register published…
Proposed Rule for AMCs Agencies Issue Proposed Rule on Minimum Requirements for Appraisal Management Companies WASHINGTON — Six agencies today issued a proposed rule…

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PADS – Appraisers Running for Exits

Brian L. Trotrier — Thu, 22 May 2014 12:30:20 +0000

We urge appraisers to review the PADS Model Current economic trends suggest your appraisal practice will not survive beyond 2015. Appraisers are running for the exits, with many moving into Ad Valorem, and some into cost estimating. Client accounts you thought were safe have been converted to ether and dispersed among a dark refinancing void. You’ve gone from completing six appraisals per week to camping by your email, in hopes of an AMC broadcast assignment appearing. Where you once had time to think about accepting the assignment, you now have less than 2 seconds to accept, because like you, ninety...

Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
Promoting False "Racist Appraiser" Narrative Some Lenders promoting false "racist appraiser" narrative to optimize profits via AVMs Like most businesses lenders want to optimize their…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…

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Appraiser Confidentiality: USPAP Absurdity

Peter Christensen — Wed, 07 Aug 2013 12:30:37 +0000

Appraiser Confidentiality: Loose Lips, Big Claims, USPAP Absurdity, and Subpoenas Allegedly “Loose Lips” Cause a Big Claim. A recent and relatively big appraiser liability claim involved a commercial appraiser’s alleged breach of confidentiality. The damages paid to the plaintiff were significant. According to the plaintiff’s complaint (my recounting of the facts here is simplified), a lender had engaged the appraiser to perform an appraisal for a construction loan to the developer of a shopping center. Some of the information received by the appraiser included lease commitments from prospective tenants. The anchor tenant was a well-known retailer. The appraiser completed the assignment, but...

Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

The post Appraiser Confidentiality: USPAP Absurdity appeared on Appraisers Blogs.

Appraisal Complaint Hotline Usage

AppraisersBlogs — Fri, 15 Feb 2013 12:30:28 +0000

Four Reasons Why ASA & NAIFA Urge Appraisal Subcommittee to Delay Rollout of National Appraisal Complaint Hotline On February 6 ASA, along with the National Association of Independent Fee Appraisers (NAIFA), sent a letter to the Appraisal Subcommittee (ASC) urging them to delay the planned March 29th implementation of the national appraisal complaint hotline, as required by the Dodd-Frank Act. In pushing for the delay, ASA and NAIFA pointed to several issues regarding the hotline’s formation: That the appraisal complaint hotline was created in a closed process, without adequate stakeholder exposure or input; The hotline, as proposed, violates Congress’s intent...

The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…

The post Appraisal Complaint Hotline Usage appeared on Appraisers Blogs.

ASA, NAIFA File Comments Regarding Appraisal Complaint Hotline

AppraisersBlogs — Fri, 04 Jan 2013 13:30:00 +0000

The establishment of an appraisal complaint hotline… The American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers (NAIFA) appreciate the opportunity to jointly comment on the Paperwork Reduction Act implications of the establishment of the Appraisal Complaint Hotline system mandated by section 1473 of Dodd-Frank. Although we understand that the public will have an opportunity to comment on the appraisal complaint form itself when it is proposed (described as “the Interagency Appraisal Complaint Form”), we believe the agencies’ October 22nd Federal Register request for comment provides our organizations (and other stakeholders) with an important opportunity to...

Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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Appraisal Practices Board: A Free Resource for Appraisers

AppraisersBlogs — Tue, 24 Jul 2012 12:30:29 +0000

The genesis of the Appraisal Practices Board was the collapse of the housing market in 2008… Congressional Hearing Provides Opportunity to Clarify Purpose – FOR IMMEDIATE RELEASE June 29, 2012. Washington, DC – The Appraisal Foundation (TAF), a non-profit education organization dedicated to professional valuation, testified yesterday before the U.S. House of Representatives, Committee on Financial Services, Subcommittee on Insurance, Housing and Community Opportunity. The hearing, entitled Appraisal Oversight: The Regulatory Impact on Consumers and Businesses, focused on the Appraiser Regulatory System in place today and whether there is need for modifications or improvement of this system. One issue discussed...

Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Appraisers Should Bristle Stealthy vice again masquerades as public virtue. The head of yet another government-subsidized nonprofit was found funneling cash to…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…

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National Association of Independent Fee Appraisers - Appraisers Blogs

Let Appraisers Train Their Own Inspectors

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ASC Call for Comments

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Better Than Your Favorite Band’s Concert!

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Hybrid Appraisal Created by Appraisers?

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Appraisers’ Voice Just Got Louder

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Details of the New AMC Law

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Consumers Overcharged by AMCs

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The Decline of Appraisers

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Raising Appraisal Threshold Levels

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A Contrary Response to The Future of Valuation

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Unintended Consequences of the Dodd-Frank Law and Potential Remedies

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Agencies AMC Rules Lack Guidance

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PADS – Appraisers Running for Exits

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ASA, NAIFA File Comments Regarding Appraisal Complaint Hotline

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