Tagged: real estate appraisers

Why So Many Appraisers Say NO to Bifurcated Hybrid Appraisals

September 20, 2021

Why Appraisers Say NO to Hybrids

Could this be another reason why so many real estate appraisers refuse to do bifurcated hybrid appraisals? Recently, a Mueller Services ‘inspector’ posted a comment on the article titled “Mueller Sample Report. You Decide!“. Could this be another reason why so many real estate appraisers refuse to do bifurcated hybrid appraisals? It goes without saying that bifurcated hybrid appraisals are uniformly performed by very low paid, with third grade level writing skills, untrained property ‘inspectors’ using a checklist – but with no appraisal training and skill. Tbhiitsch: Ah yes, Ive worked for Mueller services. It’s an easy job kind of,...

AGA / ANSI / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News

October 27, 2018

Human Real Estate Appraisers Unnecessary?

“Real estate appraisers will not exist in the future.” – Reasons Behind Matt Rider’s Projection and Why He’s Wrong Technology in real estate is advancing to a point where any user can “pull up a property’s data together” and create an appraisal. This is the main point raised by Franklin American Mortgage’s Chief Information Officer Matt Rider in his interview with National Mortgage News. He claimed that as a result, real estate appraisers wouldn’t exist in the future. See interview here. Rider’s projection seems to be based on society’s increasing dependence on Big Data and artificial intelligence (AI). According to...

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

April 21, 2017

Appraisers’ Voice Just Got Louder

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...

American Society of Farm Managers and Rural Appraisers / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASA

May 15, 2015

Blacklisting Lawsuit Continues

Appraiser Michael J. McSwain filed a lawsuit against Yadkin Valley Bank and the appraisal management company (AMC) StreetLinks Lender Solutions, alleging that he was retaliated against for failing to reach targeted values.

According to the suit, McSwain performed two appraisals for StreetLinks in late 2012, on behalf of Yadkin Valley Bank, both of which failed to “meet value.” The suit cites explicit emails from the branch manager at Yadkin which state:

“StreetLinks has sent out a BUTCHER on two of my last refis [sic] … make sure he is not sent out in our county and make sure he is not on the approval list…I thought I would let him do these two just to see. NOW THE DEALS ARE DEAD.”

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

April 9, 2015

Oh My God, Don’t Talk to Me!!!

Are realtors, loan officers allowed to talk to appraisers? I was amused at a phone message that was on my voice mail recently. A realtor spent 3 minutes apologizing for the phone call, explaining that she understood she was not allowed to speak to appraisers anymore for fear she might sway the appraisal process. The funniest part was that while she did tell me which file the message was regarding, she failed to leave her phone number. Are realtors, loan officers allowed to talk to appraisers? Can the appraisal be discussed? Okay. I am sorry, but has this world lost...

Appraisal / Appraisal News / Appraisers News

April 3, 2015

Virginia Enacts Law on Reasonable and Customary Fees

Virginia Gov. Terry McAuliffe on March 23 signed into law S.B. 1445, which requires appraisal management companies operating in the state to compensate appraisers at a reasonable and customary rate. The legislation gives the Virginia Real Estate Appraiser Board authority to take administrative action against AMCs not paying appraisers customary and reasonable fees in accordance with federal law. Prior to enactment of the legislation, Virginia law already required an appraiser engaged by an AMC to disclose as part of the appraisal report the actual fee they were paid. In 2014, the Virginia Center for Housing Research and the Virginia Tech...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

March 13, 2015

“Serial” Podcast & Your Appraisal Workfile

Podcast a growing medium Podcasts are a growing medium for both education and entertainment. Research shows it has grown over 25% per year for the past few years. As an appraiser, I find myself spending a lot of time at my computer as well as traveling to and from appraisal inspections. I discovered podcasting about a year ago and have not turned on talk radio since. Podcasting allows me to specifically pick the topics I want to hear and listen to them when I have the time to listen. I love ‘em. Recently, a few friends of mine turned me...

Appraisal / Appraisal News / Appraisers News

February 10, 2015

If I Cannot Support a Small Adjustment, I Just do not Make it

I am more circumspect about the adjustments I make. The most feared date in the appraisal industry has come. January 26, 2015 arrived with much trepidation and trembling amongst myself and my appraiser colleagues. The day of the Collateral Underwriter (CU) had finally arrived. Yet, it turned out to be a pretty typical day for most. We are now over a week removed from the CU and I have yet to receive even one CU-related revision request. I guess that means one of two things; either I am an incredibly talented appraiser who uses all the best comps and supports every one...

Appraisal / Appraisal News / Appraisal Quality Monitoring / Appraisers News / AQM / Collateral Underwriter

January 29, 2015

Appraisers, Pull Together and Fight Back!

Dear Real Estate Appraisers of America, To date, each of you have invested years of your life and tens of thousands of dollars to create your real estate appraisal career. No small feat. You have sacrificed greatly to get to where you are. And, now you are feeling as if everything you have worked so hard for is being stolen away from you. Tragically, over the last 5 years there has been a whirlwind of events that has resulted in a very frustrating situation for appraisers. AMCs who have been permitted to increase profits by driving down appraiser fees and...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

January 22, 2015

Dave Biggers, You Owe Me an Apology

Normally, I like Dave Biggers. I think a la mode — like other appraisal software companies — has always been (and will likely always be) an advocate for appraisers. I am not saying any of that has changed, but I feel like Mr. Biggers owes me, and all appraisers, an apology. Ever since I first heard of Collateral Underwriting (CU), I have been a bit — and at times, much — overwhelmed at what it might mean to me and my peers. Frankly, there have been times that I have been downright scared of what CU might do to my thriving appraisal...

a la mode / Appraisal / Appraisal News / Appraisal Quality Monitoring / Appraisal Software / Appraisers News