Tagged: TAF

We Need Pat Turner, The Gladiator Appraiser - Call to Action 5

The Gladiator Appraiser, Pat Turner

Regulatory reform is needed in the appraisal profession and Pat Turner is the right appraiser to help move it forward! This is a CALL TO ACTION. Please listen to Phil Crawford’s Voice of Appraisal Show released yesterday morning. He has put out a call to action to every appraiser to write a letter of recommendation for VaCAP President Pat Turner to be appointed to the Appraisal Standards Board: Time to stand up again! Pat Turner, “The Gladiator Appraiser”, from the Great Commonwealth of Virginia has applied for a position on the Appraisal Standards Board at The Appraisal Foundation! Now more...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB / The Appraisal Foundation

Appraisers Should Never Do Evaluations - Appraisers Blogs 15

Appraisers Should Never Do Evaluations

…users of evaluations knew & accepted that if they obtained evaluations in lieu of real appraisals that they were getting meaningless value opinions by unqualified personnel… TALCB will be considering the Board’s position regarding appraisers performing evaluations in compliance with USPAP at the next Board meeting on August 23, 2019 Dear Texas Appraisers Licensing & Certification Board Members: The short and sweet version is that appraisers should never, repeat never do ‘evaluations’. The term itself should never be uttered as if it refers to any legitimate appraisal product that meets the USPAP requirements of a real estate appraisal. When FIRREA...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Existing Regulatory Burden on Appraisal, a Proven Failure- System Reform 6

Appraisal Reform or System Reform

It is my hope that the Subcommittee on Housing, Community Development and Insurance consider long-term impact. The existing regulatory burden, a proven failure, may insure a repeat of the past. The body of a letter to the U.S. House Committee on Financial Services about systems reform. Appraisal reform or Appraisal industry reform? It is critical to understand that ‘appraisal’ does not equal ‘valuation’, or risk analysis, or anything else.  It is a precise definition of a nebulous product. The current U.S. House Committee on Financial Services is asking the question: “What’s Your Home Worth? A Review of the Appraisal Industry.” I believe it is...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

Review Appraiser Flawed Review... Phony Complaint Against Appraiser 14

Phony Complaint Against Appraiser

…a laundry list of ‘pile on’ purported USPAP “violations” were fabricated deriving for the above oversights ‘confirmed’ by the out of area review appraiser… In fighting or appealing a false complaint filed against you as an appraiser, truth, factual evidence and professional competency is no longer enough! More important than all these things, is conformity to the detailed technical rules of a state’s administrative law procedures. In short, in many if not most cases, appraisers MUST HIRE AN ATTORNEY to represent them before any administrative board. Anything less, is playing with fire and your professional career. Worse, E&O won’t cover...

AARO / AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

The Role of Formal Valuations in the Home-buying Process is Under Attack 9

The Network Speaks Out

VaCAP and 27 other State Appraisal Organizations reached out to the House Finance Services Committee concerning the upcoming Subcommittee meeting entitled “What’s Your Home Worth? A Review of the Appraisal Industry” on June 20th. The Network stresses the most qualified to testify on the appraisal profession is an appraiser. The letter also outlines some of the flaws, inconsistencies and realities of the effects of appraisal management companies and how the GSE’s current “appraisal modernization plan” is actually harmful to consumers, investors, lenders, the housing market and the economy as a whole. Fannie Mae’s own publications are being used as documentation. Hopefully the committee members ask the...

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

NY AMC Law Sends Shockwaves Through AMCs - Appraisers Blogs 21

NY AMC Law Sends Shockwaves

Back on April 19th, I wrote about the New York AMC law in my Housing Notes newsletter. After years of AMCs chipping away at the public trust, the New York AMC law was designed to protect the consumer. The bill summary was: Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state. Last week, AppraisersBlogs ran it as a standalone post and I got a lot of feedback. To be clear, the bill was...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Home Valuation Code of Conduct

We the Owners Are the Only Ones that Can Fix Low Appraisal Fees 59

Customary and Reasonable Fees?

…appraisal firm owners roll up your sleeves & hold the line on fees… I have been the owner of HF Appraisal Ltd since 1993 and I have sat on the sidelines in regards to Customary and Reasonable appraisal fees. I can no longer stand by and read nor hear about this issue. It is amazing to me that over the past five to ten years our fees have remained the same and in some cases are lower than they were 10 years ago. The more that I read about this and talk to appraisers across the country in classes and...

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

Another Huckster Enters the Appraisal Arena 20

Another Huckster Enters the Appraisal Arena

Yet another third party huckster has entered into the real estate appraiser and appraisal arena. It’s that time again! Yet another third party huckster has entered into the real estate appraiser and appraisal arena. Apparently motivated by pure altruism. We identified a need in the marketplace to address a common problem that lenders are regularly challenged with in providing accurate appraisal quotes and then ensuring pricing on the Loan Estimate is consistent and compliant,” stated Vladimir Bien-Aime, president and CEO at Global DMS. (I LOVE this guy, he writes like me!) Global DMS Launches SnapVal to Provide Instant, Accurate, Guaranteed...

ACI / AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News

Let Appraisers Train their Own Inspector Personnel for Desktop Appraisals 64

Let Appraisers Train Their Own Inspectors

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...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Trending

The Truth is Hybrid Hucksters Don't Hire Professionals! 8

The Truth is They Don’t Hire Professionals!

Hybrid hucksters always argue “Why can’t trained professionals like brokers or insurance inspectors” perform the appraiser’s field inspection. The answer is because ‘trained professionals’ like those noted don’t work for $25 an inspection; are unwilling to give up their day jobs for a chance at a single $25 inspection one or two days a week, AND if they are truly trained professionals, to begin with, they are unwilling to work for part-time income of $0 to $25 a day in vain hope of having a periodic 8 or 16 inspection day (assumes all 16 are side by side since there’d...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations