personal property - Appraisers Blogs

United Appraisers Network Challenges Appraisal Institute

AppraisersBlogs — Wed, 18 Sep 2024 12:30:45 +0000

Ultimately, the United Appraisers Network would represent a bold and progressive alternative to the Appraisal Institute… The recent firing of Cindy Chance, the CEO of the Appraisal Institute (AI), has ignited widespread outrage and a profound sense of distrust among appraisers nationwide. In the wake of this controversial decision, discussions have emerged on industry forums about the potential creation of a new appraisal organization that would better serve the needs and interests of all appraisers, regardless of their specialization or credentials. Leading this charge is David Samnick, a Georgia-based appraiser, who has proposed the establishment of the “United Appraisers Network”...

Appraisal Fees & Value: Lessons from Picasso & Steinmetz Picasso answered “$5,000 madam.” “But it only took you five minutes.” “No, madam, it took me my whole life.” The…
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.…
When Solidifi Tried to Silence Samnick David Samnick has spent years warning that the AMC model would eventually expose its own contradictions. He is a Georgia…

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Racial Bias in Real Estate: Is it the Appraisers’ Fault?

Maureen Sweeney — Tue, 22 Jun 2021 12:30:14 +0000

In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the part of real property appraisers providing appraisal services to lenders who provide home mortgages. These academics do not fully understand various types of valuation specialties, the appraisers who practice in these specialties, and the myriad of laws that must be followed. Help is needed to explain the appraisal industry, including the specialties and the types of reports. An understanding of the different components of the appraisal industry is necessary to assist various academics, journalists, the media, the public, and the public...

Independent Fee Appraisers Under Attack Appraisers, I have reached my boiling point about the negative press ‘we’ Independent Fee Appraisers have been receiving for many…
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 Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…

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Fannie Mae’s ADU Policy Updated

Dave Towne — Fri, 11 Sep 2020 12:30:50 +0000

On September 2, 2020, FNMA updated their policy allowing for Accessory Dwelling Units (ADU) on Single Family Residential (SFR) properties to be a Manufactured Home. This is in their Selling Guide Announcement SEL-2020-05, linked below. Key points: An accessory dwelling unit (ADU) is an additional living area that is independent of the primary property and has basic bathroom, cooking, and sleeping facilities. With this update, we clarified ADU property eligibility and comparable sales requirements in the appraisal as follows: expanded the current definition of an ADU to improve proper classification of ADUs; expanded property eligibility by allowing multi-width manufactured homes...

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…
AMCs Appraisal Report Reviews AMCs are legally required to do appraisal report reviews... Appraisers, an appraiser shared AMC appraisal report review documents with me,…
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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What IS a “ClearVal Appraisal”?

Michael Ford — Wed, 31 Jan 2018 13:30:00 +0000

Clear Capital ClearVal… Value Not So ClearCut… I’ve finally had an opportunity to read a hybrid ‘appraisal’ start to finish. All may read the unedited, non-redacted version in all its glory… or infamy, as the case may be. Please click here (report also embedded below) and read it first. I’ll wait right here. Finished? Great. One thing is clear. It is not an appraisal by any current accepted definition that I am familiar with. Ironically, there is also very little that is clear as far as support for the opined values is concerned. (I’m old fashioned and think it should...

The Reality There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a…
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.…
New Hybrid Desktop Hucksters What could lure these successful 'professionals' from their chosen careers? Fellow appraisers, I just received an advertisement for a company…

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Can You Do a Particular Assignment per USPAP??

Dave Towne — Wed, 20 Apr 2016 12:30:48 +0000

Yes, I can Accept That Assignment! Types of assignments… Folks, The Appraisal Foundation, via John Brenan, has released the following, showing which portions of USPAP apply to particular assignments. This involves the applicable Standards and Rules. You may want to print the PDF posted below and keep it under your pillow, or at least with your copy of USPAP! Yes, I can Accept That Assignment! USPAP Flexibility at a Glance Some appraisers may not be aware of the inherent flexibility built into the Uniform Standards of Professional Appraisal Practice (USPAP). Because USPAP is a set of standards that is built...

What's Wrong With this Sentence? AMC says sentence was unacceptable based on one word in that sentence Beware appraisers, big brother is watching what you…
Adjustment Values, Frequency & Dollar Amount Ever wondered what other appraisers are doing with adjustment values? Appraisers, Have you ever wondered what other appraisers are doing…
The 1004D for Disaster Inspections - Advice When Disaster Happens... Appraisers, The phrase "disasters happen" is, unfortunately, all too common. Fires, floods, vehicle accidents, wind storms, hurricanes,…

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USPAP 2016-17 Summary of Changes

Dave Towne — Thu, 19 Feb 2015 13:30:46 +0000

2016 – 17 USPAP Updates & Revisions Appraisers, On Feb 6, the Appraisal Standards Board finalized the upcoming changes to the next issue of USPAP. See the PDF for the actual document. The highlights are: Revisions adopted for 2016 – 17 USPAP The following changes were adopted by the Board in a public meeting on February 6, 2015, and will be incorporated in the 2016 – 17 edition of USPAP and associated guidance material with an effective date of January 1, 2016: Revisions to the RECORD KEEPING RULE Revisions to STANDARD 3 Revisions to the Definition of Assignment Results and Confidential Information and...

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…
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…

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Proposed 2016-17 USPAP Changes

AppraisersBlogs — Thu, 18 Sep 2014 12:30:56 +0000

Comments Requested for Additional Proposed Changes to USPAP 2016-17 USPA The Appraisal Foundation’s Appraisal Standards Board has issued a third exposure draft of proposed changes to its 2016-17 edition of the Uniform Standards of Professional Appraisal Practice, and is seeking feedback on the proposed changes by Oct. 10. Among the proposed changes is an adjustment to the definition of report, which currently is defined as “any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client upon completion of an assignment.” The proposed definition would read “Any communication, transmitted to the client or to...

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…
Confusing Language for USPAP Ethics Rule Addition A proposed update of professional guidelines for property appraisals contains confusing language about what constitutes discrimination, and would even suggest…

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Rules of Engagement

IDFPR Board — Fri, 30 May 2014 12:30:18 +0000

Recently a particular engagement letter format has been circulating amongst residential appraisers from several nationally chartered banks. Aside from the usual intended use and exposure time boilerplate requirements there are several new problematic inclusions. Personal Property All personal property transferring in a purchase transaction must be described in the appraisal whether or not it was listed in the sales contract. Any client is free to ask for a shopping list of tchotchkes, but if an appraiser is appraising an abandoned residence with piles of junk laying everywhere…they couldn’t afford my time to sift through it all like in an episode...

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…
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 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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personal property - Appraisers Blogs

United Appraisers Network Challenges Appraisal Institute

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Racial Bias in Real Estate: Is it the Appraisers’ Fault?

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Fannie Mae’s ADU Policy Updated

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What IS a “ClearVal Appraisal”?

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Can You Do a Particular Assignment per USPAP??

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USPAP 2016-17 Summary of Changes

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Proposed 2016-17 USPAP Changes

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Rules of Engagement

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