Tagged: profession

Appraisal Industry Outlook Under Trump Administration 56

Appraisal Industry Outlook Under Trump Administration

In a recent article, John D. Russell, JD explored the potential impact of the new Trump administration on the appraisal industry. With Republicans set to control the legislative process, Russell analyzed various documents and comments to distill expectations for how appraisal-related issues may be handled going forward. He noted that the Trump administration’s efforts will likely reflect much of the Project 2025 platform, and that its approach to the GSEs and FHFA in the first term could mirror that of the previous administration. Late first-term efforts on housing finance reform may also provide insight into second term priorities. Regarding the...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / CFPB

The New Con: Hybrids, Waivers & AMCs Threaten Public Trust 65

The New Con: Hybrids, Waivers & AMCs Threaten Public Trust

Hybrid Appraisals, Appraisal Waivers and Appraisal Management Companies are the new Con.  Last month marked the 7-year anniversary of Appraiser Fest. The conference was truly like nothing that had been done before. It was organized by appraisers for appraisers. The agenda was more about bringing the profession together and protecting the public trust. Appraiser Fest was not about promoting the profit of others at the expense of appraisers; nor was it about hiding the unchecked facts of fraud and ill doings against consumers. It was about public awareness and trust. It all started with a renewed sense of energy with...

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

Outrage Over New Connect by ValueLink Monthly "Junk Fee" 50

Outrage Over Connect by ValueLink’s New Monthly “Junk Fee”

The recent announcement from Connect by ValueLink has sparked outrage among appraisers. Effective January 1, 2025, the company plans to institute a new $19.99 monthly user fee for all appraisers utilizing their portal to receive and submit appraisal orders. This fee will be in addition to the existing technology fees already charged on a per-appraisal basis. Understandably, many appraisers are up in arms over this development, viewing it as yet another “junk fee” that will only serve to erode their already-thin profit margins. What makes this particularly galling for appraisers is the fact that it is often appraisal management companies,...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software / Appraisal Technology

ARCC Discussion Exposes GSE Agenda to Reduce Appraisal "Friction" 27

ARCC Discussion Exposes GSEs Agenda to Reduce Appraisal “Friction”

Mark Calabria’s discussion with ARCC revealed the GSEs’ agenda to reduce “appraisal friction” by eliminating the role of professional appraisers and the appraisal process altogether.  The recent discussion hosted by the Appraisal Regulation Compliance Council (ARCC) with Mark Calabria, the former Director of the Federal Housing Finance Agency (FHFA), offered a rare and illuminating glimpse into the inner workings and mindset of the nation’s housing finance regulators. During the engaging conversation led by ARCC Chair Josh Tucker, Dr. Calabria shared his expert perspective on FHFA’s controversial decision to significantly increase the use of appraisal waivers, which allow mortgage lenders to...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Federal Housing Finance Agency / FHFA

Appraisal Waivers Expansion - FHFA Risky Move 30

FHFA’s Appraisal Waivers Expansion

The Federal Housing Finance Agency’s (FHFA) recent push to expand the use of appraisal waivers represents a concerning and potentially disastrous gambit that threatens to undermine the integrity of the housing market and the broader economy as a whole.  The recent announcement from the FHFA Deputy Director Naa Awaa Tagoe regarding the expansion of appraisal waiver eligibility for purchase loans is a significant development that has sparked debate and controversy within the mortgage industry. By increasing the maximum allowable loan-to-value (LTV) ratio for full appraisal waivers from 80% to 90%, and for inspection-based appraisal waivers from 80% to 97%, the...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / Federal Housing Finance Agency

The Great Debate on Appraisal Fees 31

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 paid by the borrower, which prompted her to stop working with AMCs because of the lack of transparency.  The appraisal industry is abuzz with a discussion about appraisal fees. The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information Regarding Fees Imposed in Residential Mortgage Transactions [Docket No. CFPB-2024-0021] in which it solicited feedback from the public and industry stakeholders on the fees charged to consumers by mortgage providers and related settlement services. The CFPB framed it as...

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

Lack of Evidence, Appraiser Challenges Discrimination Claims 10

Lack of Evidence, Appraiser Challenges Discrimination Claims

The next morning I went to my trusted AI program and asked if there was any evidence of bias. “Where is the evidence?”  The issue of perceived bias and discrimination in the appraisal industry has become a highly contentious and polarizing topic in recent years, sparking intense debate and controversy. At the heart of this complex issue lies a fundamental tension between the appraisal profession’s commitment to objectivity and impartiality, and the persistent allegations of systemic racism and unfair practices that have plagued the industry. As exemplified in the response from Maryland Certified General Appraiser William Turner to an article...

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

NFHA's False Narrative Undermines the Appraisal Industry 16

NFHA’s False Narrative Undermines the Appraisal Industry

A barrage of billboards, magazine ads, and TV/radio public service announcements is being used to amplify and spread this false narrative.  The latest attack on the appraisal industry is being spearheaded by the National Fair Housing Alliance (NFHA) and the Department of Housing and Urban Development (HUD), who are aggressively pushing a false narrative of widespread appraisal bias against Black and Latino homeowners. Through a relentless media campaign employing emotive messaging, vivid anecdotes, and dubious statistics, these entities are painting a picture of widespread, systemic bias among appraisers against Black and Latino homeowners. However, the reality is that not a...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / HUD

United Appraisers Network Challenges Appraisal Institute 45

United Appraisers Network Challenges Appraisal Institute

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”...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

VaCAP Supports Shane Lanham's Legal Fight 28

VaCAP Supports Shane Lanham’s Legal Fight

The outcome of this case will undoubtedly have far-reaching implications for the future of the appraisal industry, making Shane Lanham’s fight one that concerns us all.  A fellow appraiser is in need of your assistance. Many of you may have heard of a Maryland Appraiser, Shane Lanham, the defendant in a lawsuit for a “low opinion of value based on the race of the homeowner.” Shane is counter suing the accuser for defamation as this has been a very publicized story. Let’s be clear, he is not just fighting for himself, he is fighting for each and every appraiser. As...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Trending / VaCAP

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