North Carolina Real Estate Appraiser Association - Appraisers Blogs

Who ‘assists’ in Hybrid Appraisals

Guest Author — Wed, 17 Oct 2018 12:30:17 +0000

the appraiser shall identify any person who "assists" in the appraisal process… NCREAA recently submitted a letter to the North Carolina Appraisal Board regarding hybrid / desktop appraisal products. As a result of this letter, which highlights concerns raised by NC Appraisers, NCAB is forming an ad hoc committee to clarify, define and provide guidance on these hybrid / desktop products with respect to current North Carolina Appraisal Laws. Read the letter below: The North Carolina Real Estate Appraiser Association (NCREAA) has recently received requests/inquiries from our members regarding guidance on assignments for “hybrid/interior desktop” appraisals requests they have recently...

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.…
Desktop Appraisals: Has The Devil Infiltrated The… Are desktop appraisals with third-party inspectors protecting the public, or are these products about to destroy the very profession I…
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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House Bill 651 Another Win for Appraisers!

AppraisersBlogs — Mon, 03 Aug 2015 12:30:15 +0000

House Bill 651: Appraisal Board Recordkeeping and Background Checks Raleigh, NC – Today Rep. Jon Hardister (R-Guilford) passed House Bill HB 651 – Appraisal Board Recordkeeping and Background Checks – which provides regulatory relief for the real estate appraisal industry. House Bill 651 eliminates the discovery rule for civil action related to real estate appraisals and establishes a five year statute of limitations, which puts North Carolina in line with the United States Standards of Professional Appraisal Practice. This will reduce insurance and compliance costs for real estate appraisers, many of which are small businesses and independent contractors. The bill...

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 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…
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 post House Bill 651 Another Win for Appraisers! appeared on Appraisers Blogs.

Separating Appraisal Fees from AMC Fees

AppraisersBlogs — Fri, 03 Jul 2015 12:30:20 +0000

Disclosures regarding payments for appraisal management services versus appraisal fees On July 1, 2015, the Network of State Appraiser Organizations (NSAO) submitted a joint letter in response to the CFPB request for comments on the proposed amendment to the “Know Before You Owe” mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. It specifically addresses the lack of requirement to mandate disclosure to the consumer that the fee paid for an “appraisal” be clearly defined and break down what portion is being paid to the lenders’ third party appraisal management company and which portion of the fee is...

Lack of Fee Transparency: Exposing the AMC Exploitation By keeping the borrower in the dark about the true cost of the appraisal, the AMCs are able to charge…
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…
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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The Network Letter RE CU Program

VaCAP Board — Wed, 14 Jan 2015 13:30:12 +0000

Network of State Appraisal Orgainzation’s letter to FHFA Director Watt Regarding Fannie Mae Collateral Underwriter (CU) Program For over the past couple of months, VaCAP has participated with 18 other State Appraiser Coalitions in drafting an unified response to Fannie Mae’s Collateral Underwriter Program. Their letter to FHFA Director Watt briefly outlines their concerns, offers recommended solutions, as well as asking for a meeting to discuss the issue for the benefit of all vested parties. Please take a few minutes to peruse the letter below: Dear Director Watt: On behalf of the independent state professional appraiser organizations signing below, I...

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…
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…
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 post The Network Letter RE CU Program appeared on Appraisers Blogs.

Historic Meeting of State Appraiser Organizations

AppraisersBlogs — Mon, 20 Oct 2014 12:30:03 +0000

Representatives of several independent state professional appraiser organizations met in Chicago, Illinois on Saturday October 11th, to further discuss collaboration on issues affecting their membership. The network, which started as a conversation among three State appraiser organizations less than a year ago, now comprises 16 such State Organizations which is expected to continue growing. The group, which functions as a network rather than a formal organization is unique in its focus and operation. The network has no single elected leader but is comprised of leaders from each participating state organization; it is self-governing by consensus. Participating organizations do not pay...

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 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…
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…

The post Historic Meeting of State Appraiser Organizations appeared on Appraisers Blogs.

Appraisal Profession Decimated by AMCs

VaCAP Board — Mon, 09 Jun 2014 12:30:25 +0000

The Appraisal Profession & Appraiser’s Business Decimated by the Increasing Dominance of Appraisal Management Company Services (AMCs) For the past two months, VaCAP has participated in a networked council consisting of 13 professional state appraisal organizations in responding to the Agencies request for comments of the Proposed Rules on Minimum Requirements for Appraisal Management Companies: Dear Agencies; This letter is in response to the Agencies’ request for comments on the Proposed Rules on Minimum Requirements for Appraisal Management Companies. The undersigned represent a networked council of professional state appraisal organizations. We appreciate this opportunity to comment and thank the Agencies for...

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 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 Appraisal Profession Decimated by AMCs appeared on Appraisers Blogs.

ES Appraisal Settlement with Chase

AppraisersBlogs — Wed, 22 May 2013 12:00:08 +0000

It has come to my attention that the attached settlement is being proposed to the BR Trustee in the ES Appraisal case and thought that it was important that the information be passed along to whomever might need it since many of our members have been affected. Please forward to whomever you believe might be owed fees in this case. I would recommend that anyone do their own research on this as I am only passing along information that was given to me third hand. It is the belief of others that this agreement will forgo millions of dollars in...

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…
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…
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 ES Appraisal Settlement with Chase appeared on Appraisers Blogs.

North Carolina Real Estate Appraiser Association - Appraisers Blogs

Who ‘assists’ in Hybrid Appraisals

Related Posts:

House Bill 651 Another Win for Appraisers!

Related Posts:

Separating Appraisal Fees from AMC Fees

Related Posts:

The Network Letter RE CU Program

Related Posts:

Historic Meeting of State Appraiser Organizations

Related Posts:

Appraisal Profession Decimated by AMCs

Related Posts:

ES Appraisal Settlement with Chase

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