public records - Appraisers Blogs

Flags Over Facts: The Road to Obsolescence

Desiree Mehbod — Thu, 02 Apr 2026 12:30:03 +0000

The latest round of modernization comes wrapped in friendly language, but the flags are hard to miss if you’ve been paying attention. For years, appraisers have been warning that the mortgage industry was slowly engineering us out of the process. We were told we were paranoid. Resistant to change. Stuck in the past. Then the newest Mortgage Credit Executive Order arrived, and the appraisal section opened with a single line that confirmed everything we’ve been saying: expand AVMs, desktops, hybrids, and AI. That’s the priority. Everything else in that section is just polite filler wrapped around a strategy to shrink...

UAD 3.6: The Appraisal Industry’s Shiny New Straightjacket UAD 3.6, the appraisal industry’s shiny new straitjacket, promises efficiency but threatens to bury appraisers under a mountain of data…
Imagine Running the Lawn Mower Industry Like the… I’m on about lawn mowing lately. It’s my new full time passion. The appraisal industry should be as straight forward…
Fannie Mae Fraud and Abuse Exposed History of waste, fraud & abuse at this rogue organization... Fannie Mae reported this week it had fired more than…

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Fannie Mae Filed a Complaint Against Me

AppraisersBlogs — Wed, 18 Oct 2023 12:30:39 +0000

An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a complaint against me with my state appraisal board. Here’s what happened. The Report In June of 2021, I completed an appraisal for a conventional purchase. The appraisal was ordered by an AMC on behalf of a lender. At that time, the real estate market was still being wildly affected by the COVID pandemic. Remote work was in full swing, and consumers were desperately seeking to get out of the cities. Prices for all types of residential properties were rising rapidly,...

Fannie's Loan Buyback Sophistry Relies on Modifying… “Many of the repurchase letters make no sense,” said the insider. If analysts don’t write enough defects on those files,…
FNMA Continued Effort to Get Rid of Appraisers Fannie Mae Continues Their Effort To Get Rid Of Appraisers: Sends “Tips” For the past year, Fannie Mae has sent…
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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Isn’t that Just PAVEY! PAVE Response and Marcia Fudge

Dave Towne — Tue, 08 Aug 2023 12:30:59 +0000

Folks, the American Enterprise Institute Housing Center has been, to date, the only major voice in the wilderness I’ve seen publicly defending appraisers and the appraisal process. They have refuted most of the highly touted ‘studies’ promoted by Dr. Andre Perry and others, which the current administration has considered the gospels of appraiser intolerable performance. The Biden-created ‘black oriented’ 13 agency PAVE Taskforce, co-chaired by HUD Secretary Marcia L. Fudge, who is a black lady, issued another report recently. AEI’s response to that is in the PDF below. Please read it. Meanwhile, Ms. Fudge recently appeared at the 75th Annual...

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 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…
Diversity, Equity and Inclusion Is Overlooked by HUD… Marcia Fudge, the Secretary of HUD, decided to convene a special meeting of master minds with absolutely no real diversity,…

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AVMs… Garbage In, Garbage Out

AppraisersBlogs — Wed, 15 Mar 2023 12:30:07 +0000

Garbage data in means garbage results out every time! It’s no secret that AVMs have been a thorn in the side of real estate appraisers since they first came out. Despite all their bells and whistles, these automated valuation models still rely on inaccurate public records and often come up with wildly inaccurate home values. Unfortunately, some consumers don’t realize this until it’s too late – when reality comes crashing down from a local real estate professional after they’ve already gotten their hopes up about their home value thanks to an AVM. Yesterday, a Virginia assessor emailed us with an...

House Measurement by Property Data Collector Gone Wrong The lender allowed an unlicensed property data collector give bad data to the appraiser... I work for this lender and…
No Appraisals Required. The End of Appraisers? No appraisal may be required in the future! Fannie Mae took a direct shot at appraisers with the announcement of…
Exactly How Are Property Data Collectors… Somebody explain to me exactly how Property Data Collectors are “professionally trained” per Fannie Mae directives. The fact is, Fannie…

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Appraiser Bias Allegations Unmask Debt Traps

Jeremy Bagott — Fri, 02 Sep 2022 12:30:33 +0000

Claims of tainted appraisal unmask something else… the renewed “churning” of mortgages by nonbank lenders. Convinced racism torpedoed valuations in their home refinancings, the owners of three properties in the San Francisco Bay Area told their stories to Julian Glover, a reporter who covers the race, culture and social justice beat for ABC’s San Francisco affiliate. Similar claims of tainted appraisals have surfaced in Philadelphia, Chicago and, more recently, Maryland. A civil lawsuit was filed in one of the cases in a federal district court. A claim was dismissed Wednesday based on a flaw unrelated to the case’s core allegation...

Anti-Appraiser Agenda Money may have been used to buy influence and promote the current anti-appraiser narrative being embraced by key public servants…
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…
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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Statistically Supported Appraisal

Hamp Thomas — Wed, 09 Jun 2021 12:30:57 +0000

Lenders are convinced that a statistically supported appraisal is a more reliable valuation. Wow! Does anyone that understands the home valuation process really think a “statically supported” appraisal makes for a better quality report? This is not that hard to understand. What does “statically supported” really mean? It means you get a computerized report, similar to what Zillow or Trulia provides, based on the information in public records. Statistically speaking, the margins of error are frightening!!! Great products for entertainment, NOT for determining the value of your home. This all comes down to the Golden Rule. Lenders are looking 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…
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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Train Us and Trust Us

Hamp Thomas — Fri, 12 Mar 2021 13:30:38 +0000

The most weighted technique in most automated valuation programs comes down to one over-simplified formula, based on a guesstimation from an outside source that has no interest in the real estate system… Dear FHFA: Please accept the following comments in regard to Question A1.4. The response also includes comments on several additional questions. Thank you for taking the time to review these thoughts. Technology has made so many improvements in the last decade and we now have the chance to truly improve our home valuation system. With that being said, the last piece of the quality puzzle starts at the...

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…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…
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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Racial Bias by Appraisers Is Uncommon & Not Systemic

AppraisersBlogs — Wed, 06 Jan 2021 13:30:36 +0000

Intentional and unintentional racial bias by appraisers on refinance loans is uncommon and not systemic… On January 4, 2021, the American Enterprise Institute (AEI) published a study titled “How Common Is Appraiser Racial Bias? An Analysis Using Big Data to Determine Whether It Is Common or Uncommon that an Appraiser’s Knowledge of an Applicant’s Race Results in Valuation Bias“. They concluded allegation that knowing the race of the applicant results in racial bias by appraisers on refinance loans is uncommon and not systemic. This same analysis supports the conclusion that unintentional bias based on race is also uncommon and not...

Racial Bias Claims Without Proof or Logic The Appraisal Institute just sent a letter to The Appraisal Foundation to address things that have been floating out in…
The Scam of Racial Discrimination by Appraisers More and more appraisers are retiring every day. Aside from that more and more are changing to lower liability careers.…
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…

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Verifying MLS Shown Sales Price

Dave Towne — Wed, 07 Oct 2020 12:30:04 +0000

Verifying property sales data is a key element and requirement in doing appraisals correctly… Verifying property sales data is a key element and requirement in doing appraisals correctly. We cannot just assume the MLS reports sale prices correctly. One aid to help do this is by using one of the ‘data download’ software providers which prefill many property data items in the report comparable grids. These companies have direct interties with the local MLS (most, not all across the US), and public data from either your jurisdiction recording or assessor office, or an amalgamation company such as Realist. Two ‘data...

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.…
Who Controls Access in UAD 3.6 Access has become the most expensive word in the appraisal industry, a reminder that every new “solution” seems to cost…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…

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AMC Reviews of Appraisals

John Pratt — Wed, 27 Nov 2019 13:30:37 +0000

Only the lender’s Underwriter should be able to request changes to the report and the lender should be the one that pays the appraiser… An appraiser associate was having a discussion with one of the head review appraisers at HUD and the reviewer noticed that the Plat Map in the report did not correspond with the site size reported in the URAR form 1004. The appraiser stated that the public record and the Plat map did not agree with each other and that he chose the figure shown in public records. The reviewer questioned why he would choose the public...

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 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…

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Should Appraisers Study Statistics?

George Dell — Thu, 18 Jul 2019 12:30:50 +0000

Yet what was (and still is) presented in appraiser education is the old inferential statistics. Difficult statistics. Convoluted statistics. Statistics for appraisers started to become a hot topic some 15+ years ago. I was more involved with the Appraisal Institute then, and often argued that with the changes in data sources — appraisers would have to learn to apply statistics. Around 2003, the AQB (Appraiser Qualifications Board) revised qualifying education to include the requirement for Finance, Statistics, and Valuation Modeling class. Although I was not solicited to write this class, I was put on the development team, which reviewed and suggested edits and improvements. The...

Who Controls Access in UAD 3.6 Access has become the most expensive word in the appraisal industry, a reminder that every new “solution” seems to cost…
From Data to Value: How Mass Appraisal Delivers Fair… Behind every annual notice of assessments is a complex valuation system most property owners never realize exists. The Appraisal Foundation…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…

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Coester Risen from Ashes?

Dave Towne — Wed, 10 Jul 2019 12:30:48 +0000

Has Coester risen from the ashes? Apparently, per a message on Twitter on July 9, 2019, Mr. Brian Coester is now in the real estate sales biz. The photo image used on the big T is the same one he used to use on his defunct AMC website. More information here for re-posts of articles not written by him. Meanwhile, there appears to be a new twist in Evaluation appraisals. This is the first I’ve seen about an AMC or any other company using ‘the homeowner’ to supply interior photos which will be used in a bank evaluation. See this...

Coester Loses in Court! Gosh... I’m really sad to bring you this news (sarcasm). Brian Coester Loses in Court! About 2 years ago, Georgia…
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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Are You Violating USPAP Every Day?

George Dell — Wed, 27 Mar 2019 12:30:24 +0000

Are you in “violation” of USPAP? If you pick comps the old way, you may be violating USPAP every day! The old way of selecting data worked well for the old days. Gather seven or eight that look good, go look at them, make a couple of phone calls, and pick four or five for your report. That was the way I was trained. That was the way the Appraisal Institute courses taught me. When I took the AI demo report course, three words were drilled into me: Explain, Justify, and Support. Then I took the required USPAP course. (Back then it still belonged...

USPAP is Unconstitutional? Gerald McNamara and Colleen Kudrick were admonished by the board in a five-count takedown. There is a lot of nuances…
Is SmartExchange Not USPAP-Compliant? Is Smartexchange Resulting in USPAP Non-Compliance? This blog is likely going to stir up controversy. It is likely going to…
Mueller REO Hybrid Appraisal Report Another Mueller Report has surfaced. The report is a Mueller REO Hybrid Appraisal Report and it was given to an…

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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…
Systemic Failures in FHA Appraisal and Loan Review This case exposed the cracks in an FHA system where failures by the lender, the AMC, and the review process…
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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Advance Property Research is Vital

Dave Towne — Mon, 18 Feb 2019 13:30:32 +0000

‘Subject to’ obtaining a correct legal description… Appraisers, an unusual situation occurred with an appraiser buddy, who asked for advice. After reviewing the details and providing input, I decided that this would be a good ‘teaching moment’ for others. See PDF for images below. Appraiser was asked to do a ‘refi’ assignment for a home that was purchased about 6 months prior by the borrower. The report was completed and turned in. Not long afterward, the appraiser received a ROV request because the borrower felt the value was too low. In the course of this process, the prior appraisal done for the purchase...

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…
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 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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Is SmartExchange Not USPAP-Compliant?

Guest Author — Wed, 30 Jan 2019 13:30:58 +0000

Is Smartexchange Resulting in USPAP Non-Compliance? This blog is likely going to stir up controversy. It is likely going to have a few folks calling me a loyalist to a la mode, or other similar things. Am I a loyalist? I do not see myself as such, but a la mode has been the only software that I have used in my career for residential form reporting. I do use ACI in the corporate setting as a reviewer and manager in my firm. I like and consider many of the staff at a la mode to be my friends, and I have had long relationships...

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.…
Automatic Review of Photos in Appraisal Reports It means the statements in your appraisal reports about the actual component material, and its quality and current condition, can…
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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What is Truth or Accuracy for Appraisers?

George Dell — Fri, 07 Dec 2018 13:30:26 +0000

Are we supposed to be paid truth-seekers? The appraiser is supposed to be accurate. What is “accurate”? Dictionary meanings say accuracy is “the condition or quality of being true, correct, or exact.” Tell the truth. Can it be? Hmmm. A search for truth. OK. So how do we come to know the truth? Are we supposed to be paid truth-seekers? Cool. I read that there are four ways to “know” truth: Tradition, Authority, Insistence, and Science. Wow! Let’s look at these briefly. This sounds serious! Let’s look at USPAP and The Appraisal of Real Estate. Appraisers have long been steeped in the...

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…
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…

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Tax Values Just as Accurate as AVMs?

Hamp Thomas — Thu, 24 May 2018 12:30:53 +0000

In a head to head contest between tax values and AVMs for use in mortgage lending, I’ll take tax assessments every time… The battles rage on to decide who will take over the automated valuation process. There are big companies lining up to take over this massive profit arena. And, make no mistake, it’s all about the money. At the end of every discussion about AVMs verses traditional appraisals, it has less to do with faster or cheaper, or better, and sadly little to do with consumer protection. It has to do with who gets the profits that will be...

From Data to Value: How Mass Appraisal Delivers Fair… Behind every annual notice of assessments is a complex valuation system most property owners never realize exists. The Appraisal Foundation…
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…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…

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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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Site Size Correction Notices

Dave Towne — Thu, 05 Oct 2017 12:30:36 +0000

AMC’s who demand you change site size in reports are amateurs… Appraisers, Yesterday, an appraiser ‘pen pal’ sent me the query below, asking what I would do. My response follows. I admit to having a very low tolerance level for stupidity and demands from others who don’t possess all the facts, and most often are not appraisers. The query: “Over the past year with more AMCs going to automated checker software, I have been getting “correction notices” about the site size I reported, almost for every report. So, I changed how I did it so it would stop coming back, but...

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…
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 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 post Site Size Correction Notices appeared on Appraisers Blogs.

public records - Appraisers Blogs

Flags Over Facts: The Road to Obsolescence

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Fannie Mae Filed a Complaint Against Me

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Isn’t that Just PAVEY! PAVE Response and Marcia Fudge

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AVMs… Garbage In, Garbage Out

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Appraiser Bias Allegations Unmask Debt Traps

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Statistically Supported Appraisal

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Train Us and Trust Us

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Racial Bias by Appraisers Is Uncommon & Not Systemic

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Verifying MLS Shown Sales Price

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AMC Reviews of Appraisals

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Should Appraisers Study Statistics?

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Coester Risen from Ashes?

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Are You Violating USPAP Every Day?

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Let Appraisers Train Their Own Inspectors

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Advance Property Research is Vital

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Is SmartExchange Not USPAP-Compliant?

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What is Truth or Accuracy for Appraisers?

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Tax Values Just as Accurate as AVMs?

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What IS a “ClearVal Appraisal”?

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Site Size Correction Notices

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