Tagged: real estate appraisers

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Suggestions for Real Appraisal Reform

As a risk management firm which has been serving real estate appraisers for over 20 years, we are in a relatively unique position in terms of offering suggestions how to improve the current residential real estate appraisal process. To offer some perspective, during our history we have had close to 20,000 appraisers as members of our risk management family and we have been actively involved in the resolution of close to 2000 claims brought against appraisers, both inside and outside of the courtroom. Furthermore, our management team has been around long enough to witness not only the most recent collapse...

Appraisal / Appraisal News / Appraisers News / E&O / Errors & Omissions / Uniform Standards of Professional Appraisal Practice

Real Estate Appraisers Warned us About the Crisis but We didn't Listen 2

Appraisers Warned Us but We Didn’t Listen

Federal actors could have responded to the appraisers’ warning and prevented the crisis On July 9, 2013 I participated in a radio interview with a lobbyist for the 100 largest financial firms. The San Francisco radio program host asked me what question I would ask the lobbyist and I said that any discussion should begin with allowing him to state his view of what caused the crisis. In the course of his explanation, he bemoaned the fact that there was no warning about the crisis. I found this ironic because I had just published that morning an article about how the...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / FDIC / Petition

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When the FDIC Comes A’ Knockin’

The implosion of the real estate bubble reverberated across the American landscape.  Neither residential nor commercial markets were spared.  This implosion not only had a very palpable effect on the economy, but on the political debate of this nation as well.  That political debate—as it seems is often the case—has turned to finger-pointing.  Those fingers have now curled up into a fist, and that fist is now knocking on the doors of appraisers across the country. In the aftermath of the economic downturn, many banks were taken over by the Federal Deposit Insurance Corporation (FDIC) after their balance sheets dived...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / CoreLogic Valuation Services

ES Appraisal Settlement with Chase 0

ES Appraisal Settlement with Chase

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...

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

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Appraisal Advisor, a Real Estate Appraisal Technology Company, Launches Nationwide

Real estate appraisers find, rate, and manage clients using Appraisal Advisor’s new platform. Atlanta, GA – Tuesday, April 16 – Appraisal Advisor, LLC announced today the launch of an exciting new service focusing on helping real estate appraisers better evaluate and manage the clients, appraisal management companies (AMCs), and lenders that they do business with. Appraisal Advisor provides appraisers with instant access to client ratings and reviews, written by other appraisers, and gives appraisers an avenue to have complaints and non-payment issues be heard. Already boasting an unprecedented database of hundreds of thousands of individually-verified clients and thousands of reviews...

AMC / AMC Ratings / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Technology

ASA Letter opposing Bill A3781 2

ASA Letter Opposing Bill A3781

Letter from ASA Opposing Bill A3781 Abolishing the NJ State Appraisal Board and Transferring Control to the Real Estate Commission Assemblyman Giblin: The American Society of Appraisers (ASA), the largest multidisciplinary professional appraisal organization in the United States, is writing to express strong opposition to Assembly Bill 3781, which would abolish the New Jersey State Real Estate Appraiser Board and transfer the regulatory oversight of appraisers to the State Real Estate Commission. This bill would weaken the overall regulatory scheme applied to real estate transactions and its myriad parties at a time when new federal and federally-mandated state regulations are...

AMC / American Society of Appraisers / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

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Kentucky Passes Legislation Helping Appraisers Harmed by AMCs

On March 21, Kentucky Governor Steve Beshear signed into law House Bill 120, which created a new appraisal management company recovery fund to replace its current surety bond requirement. The Kentucky Real Estate Appraisers Board will establish procedures for making claims against the fund and will administer the funds in order to provide restitution to licensed or certified real property appraisers who have suffered pecuniary harm by an AMC. Appraisers will be able to seek

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

Appraiser Complaint Forms 0

AI Advocates for Issue-Specific Appraiser Complaint Forms

The Appraisal Institute and the American Society of Farm Managers and Rural Appraisers jointly sent a letter Feb. 28 to the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Comptroller of the Currency expressing concern about the broad reach of a proposed Interagency Appraisal Complaint form. The agencies intend to provide a copy of the form to individual complainants, who, in turn, will return to the agency for information gathering and potential referral. In its letter, AI and ASFMRA expressed concern that the proposed form may not be the most effective approach and instead recommended complaint forms...

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

Court evidence & appraisers workfile 1

Court Evidence & Your Workfile

How a Few Key Items in your Work File Can Protect You in Court I used to work with someone who had a photographic memory. Most of us are not so lucky, and have to rely on our imperfect memories and good note-taking skills. As an attorney, I document everything. I handle hundreds of cases, and without good documentation I will not remember what I did on a particular day or what support I had for a particular theory. As an appraiser, your work file is your documentation.  Not only is a work file a USPAP requirement1, it can help...

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

Three Ways to Reverse the Mass Exodus of Appraisers - Hire a Trainee 3

Hire & Reverse the Mass Exodus of Appraisers

If you are doing too much and not being paid enough, you are a PERFECT candidate to hire and train a new appraiser.  Three Ways to Reverse the Mass Exodus of Appraisers I was recently in Texas at yet another appraisal conference. The man who was speaking asked everyone to stand up. There were approximately 140 appraisers in the room. He then asked for those under 30 years of age to sit down. About five people did. He asked those under 40 to sit down. About 10 more did. Under 50. About 25% of the room was now sitting. Finally,...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Business Development

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