VREAB - Appraisers Blogs

Property Valuation and the Future of Data Collection

AppraisersBlogs — Wed, 29 Jul 2026 12:30:58 +0000

Property valuation is shifting fast, and the push to regulate who collects the data inside people’s homes will determine whether the process stays accurate, safe and trustworthy. Property data collection has quietly become one of the most consequential shifts in modern real estate, reshaping how lenders, AMCs and national platforms gather the information that ultimately determines a homeowner’s equity, a buyer’s loan terms and the integrity of the appraisal process itself. Yet most consumers have no idea who is actually walking through their home, measuring rooms, photographing conditions or documenting features. In many states, the answer is startling: no license,...

AMC Hires a Convicted Felon as Property Data Collector The recent case of Paschal Uchendu, a convicted felon awaiting sentencing for orchestrating a $1.2 million armed robbery of a…
“No Name” Licenses, No Accountability: From Highways… Two fatal crashes, one in Florida and one in California, have reignited national concern over so-called “no name” commercial driver’s…
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…

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Call to Comment; AMC Disciplinary Action

VaCAP Board — Fri, 09 Jul 2021 12:30:33 +0000

1. A Call to Comment has been issued. 2. VA is looking for Appraisers. 3. AMC Disciplinary Action Snowballs into Multiple States… A Call to Comment has been issued. The FTC is asking for public comments on the consent decree by the Louisiana Real Estate Appraisal Board. The time line to comment is short and ends on July 22, 2021. VaCAP asks each of you to take a few minutes and read the consent decree as well as the analysis provided by the FTC before commenting. The link for the Federal Register that contains all the information can be found...

New Appellate Decision - LREAB v FTC FTC’s price-fixing enforcement action against LREAB... A federal appellate court – the U.S. Court of Appeals for the 5th Circuit…
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…
Occupational Licensing Used to Intimidate It provides no better illustration of how occupational licensing promotes groupthink and intolerance to differing viewpoints... CALIFORNIA: WHERE RIGOROUS INQUIRY…

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You’re on the Menu

VaCAP Board — Thu, 03 Jun 2021 11:30:45 +0000

“If you don’t have a seat at the table, you are on the menu…” Would it be misleading to disclose you performed a personal inspection of a property done with significant appraisal assistance in which you relied on supported demographics? Well maybe… The Appraisal Foundation has issued a discussion draft to answer this question and others similar to it and wants your opinion. Now we understand that some of you will comment about what’s the point and some will state they don’t have time to participate; others will simply ignore it all together. Someone once said “If you don’t have a seat...

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…
When ‘Protected’ Becomes Pressure: You Have Until… The new fair‑housing course weaponizes protected characteristics to pressure appraisers into outcome‑driven valuation, directly contradicting USPAP’s prohibition on advocacy. The…
Removing the Definition of Personal Inspection Why is the ASB proposing to remove the definition of Personal Inspection? Several days ago, an appraiser posted the following…

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Disciplinary Cases Against Hybrid Appraisers

VaCAP Board — Fri, 07 Feb 2020 13:30:27 +0000

Rumor has it there are several Virginia Real Estate State Appraisal Board disciplinary cases against appraisers revolving around hybrid appraisals… Some are for and some are opposed. It is a business decision on which types of assignments you choose to accept. If you choose to complete a hybrid or bifurcated appraisal, you need to pay attention and ask yourself a few questions. Is the fee I am receiving for completing this assignment reasonable for the scope of work I must perform? Notice the term customary was not used as these products are new and there is no customary fee YET....

Are Floor Plans in Your Future? A floor plan is supposed to be included in Desktop & Hybrid reports. How will that be done? Appraisers, I’ve…
Scope Creep & the Imploding of Rules ...the imploding rules then implemented, and the scope creep that evolved because the cart was leading the horse, has severely…
Hybrid Appraisals - Flawed Data or Flawed Agenda? Brian Zitin's self-serving interpretation of Reggora's survey results on hybrid appraisals is a textbook example of twisting flawed data to…

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AMCs Responsible for the Hybrid Inspection

VaCAP Board — Thu, 01 Aug 2019 12:30:01 +0000

It seems holding the appraisal management companies responsible for the hybrid inspection is the best option. The thinking was they choose, engage and pay the inspector. The Virginia Real Estate Appraiser Board met for its quarterly meeting on July 30, 2019. We are happy to report CoesterVMS no longer has a license to operate in Virginia. The Board voted to accept the consent order accepting the voluntary surrender of his license. The Board also passed a motion to draft legislation to be introduced into the General Assembly giving the Board regulatory control over the hybrid inspection and those individuals that...

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…
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.…
Limitations for Damages Against Appraisers Why would any damages against an appraiser be more than the actual fee paid to the appraiser? House Bill 53…

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Overwhelming Majority Are Against Hybrids

VaCAP Board — Wed, 24 Jul 2019 12:30:46 +0000

The next Virginia Real Estate Appraisal Board Meeting will be held on July 30th, 2019 @ 10:00 AM. This meeting will be a historic meeting as the board will be discussing the proposed hybrid appraisal guidance document and the corresponding 153 public comments. Also on the agenda, CoesterVMS is listed under the disciplinary cases! Why is this meeting so important? First, the 153 comments is the second highest amount of comments that have been made on any guidance document in the past year. The highest amount of comments on any proposed guidance document was by the Board of Health Professions in which 727...

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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Full Transparency in Fee Disclosure

VaCAP Board — Mon, 15 Jul 2019 12:30:37 +0000

Requirement to disclose appraisal fees: Uniform Settlement Statement SHALL include the AMC fee AND fee paid directly paid to the appraiser by the AMC… HB 3619 has been referred to the House Financial Services Committee. VaCAP has learned over the weekend that HB 3619 has been introduced in the US House of Representatives. HB 3619, short titled “Appraisal Reform Act of 2019” amends the Financial Institutions Reform, Recovery and Enforcement Act. The main change to FIRREA deals with appraisal management company and appraiser trainee registries and the addition of a member of the Veterans Affairs on the Appraisal Subcommittee. The bill also modifies Section 2603,...

Appraisers Not to Disclose AMC Fee? An appraiser/reader sends me this text from an XOME appraisal request: Good Morning, The state of NY requires the appraiser…
How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
Proposal to Eliminate the VA Fee Panel VA Fee Panel - The Appraisal Institute does not believe that a move to a lender select program, such as…

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What Will It Take?

VaCAP Board — Tue, 25 Jun 2019 12:30:14 +0000

What is it going to take for every appraiser to comment on Town Hall concerning the proposed Guidance Document on hybrid appraisals? Even if you have no intentions of ever completing a hybrid appraisal, it is important for you to place a comment on Town Hall concerning the document and these questionable products. If appraisers are not willing to step up and take a stand against actions that are contributing to the next housing crash, who will? If you have seen any of the samples floating around on the blogs and forums, you realize very quickly, these products are not credible...

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…
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…

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Hybrid Appraisals, Invitation to Fraud

Michael Ford — Thu, 13 Jun 2019 12:30:12 +0000

Until FNMA released their version of a test format for hybrids (1004P) there was not one hybrid form appraisal process and online form reporting system found that was not egregiously misleading in the entire country. Not one. Not Clarocity’s, nor Clear Capital’s or Mueller Inc. A “typical hybrid” sample follows. https://appraisersblogs.com/clearval-value-hybrid-appraisal Not those crafted in Hyderabad, Pakistan for $8 Billion for just one year’s Wall Street Investments (as published by Cezary Podkul Wall Street Journal) where the preparers claimed to be able to produce 360+ per day by illegally using broker login credentials from state-licensed brokers in America. The entire...

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 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.…
Dear Representative, FNMA Has Gone Rogue! Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending…

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Bifurcated Appraisals, a Controversial Topic

VaCAP Board — Thu, 06 Jun 2019 12:30:30 +0000

As most of you know, hybrid or bifurcated appraisals are a very controversial topic currently. Virginia statutes and regulations have language which gives many of us pause on the compliance of hybrid appraisals as they are being presented in the industry. The Board has published a proposed guidance document in the hopes to clarify the language in our laws. Unfortunately, the proposed guidance document falls short of providing any meaningful guidance or clarification. Per Virginia statute, the document has been published on Virginia Legislative Town Hall for public comments. At the end of the comment period, it is our understanding...

First the Borrower Fee. Now the Appraiser… Two lawsuits place Class Valuation’s fee transparency and staff-appraiser compensation practices under federal scrutiny. Most appraisal disputes examine only one…
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…
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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Should AMCs Be Audited?

VaCAP Board — Tue, 07 May 2019 12:30:12 +0000

Why haven’t State Licensing Boards audited AMCs? Things went a bit crazy, but in a very good way! Monday April 29th, VaCAP launched a consumer protection campaign on WRVA 1140 AM News Radio. Our email and social media accounts were non stop. Many of our sister Coalitions in The Network of State Coalitions helped spread the word and shared our Press Release with their members, posted on their websites and on their social media pages. A huge thank you to all our Sister Coalitions for helping us spread the word. In case you missed all the excitement, here is the...

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.…
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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Mueller Sample Report. You Decide!

VaCAP Board — Tue, 12 Mar 2019 12:30:02 +0000

A recruiter for Mueller Services, Inc. (Mueller Reports) contacted a VaCAP member about joining their team as a W-2 employee to complete bifurcated appraisals. Our member communicated with them and received samples of their product. During the course of the communication, the recruiter mentioned, via email: In the past 30 days, we have had 23 cases in Virginia as a whole and expect that number only to increase. A quick check on the Department of Professional Occupational Regulations (DPOR) website revealed Mueller Services, Inc. is not registered as an appraisal firm. In fact they are not registered at all. In Virginia, to operate an...

I'd Be Better off at McDonalds ...they provide no documentation as to how their algorithm produces this indicated value... I had to "jump in the pool"…
Are Bifurcated Appraisals Legal in Your State? Lately there has been a push for bifurcated (hybrid) appraisal products. Those promoting these questionable products claim it will reduce…
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…

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What If the Algorithms Are Wrong?

VaCAP Board — Mon, 04 Feb 2019 13:30:29 +0000

Algorithms are everywhere… “Algorithms decide who gets a loan, who gets a job interview, who gets insurance and much more — but they don’t automatically make things fair. Mathematician and data scientist Cathy O’Neil coined a term for algorithms that are secret, important and harmful: “weapons of math destruction.” Learn more about the hidden agendas behind the formulas.” “Algorithms are opinions embedded in code. It’s really different from what you think most people think of algorithms. They think algorithms are objective and true and scientific. That’s a marketing trick. It’s also a marketing trick to intimidate you with algorithms, to...

Shifting Narrative of Appraisal Modernization ...the reasoning for changing the appraisal process has shifted... Is there are Crisis? Rahm Emanuel eloquently stated “You never let…
Increased Regulatory Persecution of Appraisers The current and proposed revised version of USPAP also opens the door to increased regulatory persecution of licensed and certified…
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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AMC Asking Appraisers to Violate State Law

VaCAP Board — Thu, 24 Jan 2019 13:30:54 +0000

…inducing another to violate… Appraisers Beware! VaCAP has been informed an email has been sent to Virginia Appraisers from Xome Vender Manager, Adam Burg. The email, addressed to “undisclosed recipients,” starts with “Dear Virginia Appraisers.” The body of the email announces that SunTrust Bank has begun ordering a bifurcated valuation product with an interior inspection. The appraiser is to use information from a third party property inspection for subject property data. VaCAP cautions appraisers on this product. Virginia Statutes and Regulations are very clear the appraiser who signs the appraisal report must have complete direction and control over the appraisal. The Virginia Real Estate Appraisal...

Desktop Appraisals: Has The Devil Infiltrated The… Are desktop appraisals with third-party inspectors protecting the public, or are these products about to destroy the very profession I…
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…
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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Hybrid Committee Meeting Recap

VaCAP Board — Mon, 03 Dec 2018 13:30:47 +0000

The Recap The VREAB Committee meeting on hybrid appraisals met last week. The turnout was a decent one. Some traveled a great distance to attend. There were appraisers, assessors, consumers and trade group representatives in attendance. The meeting started with the Appraisal Foundation Video on Hybrid Appraisals. Public comments followed and many spoke and shared their concerns. Examples of hybrid appraisal products were submitted to the committee. Protecting the public was a key discussion and the following existing Virginia laws and regulations were discussed. 54.1-2009 Definition of appraisal- “Appraisal” means an analysis, opinion, or conclusion relating to the nature, quality,...

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 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…

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Coester VMS Bank Accounts Seized!

VaCAP Board — Wed, 21 Nov 2018 13:30:19 +0000

VaCAP has been informed the bank accounts of CoesterVMS have been seized. We have received the following email from one of our members. From: *****@coesterappraisals.com> To: Sent: Tue, Nov 20, 2018 10:02 am Subject: CoesterVMS: Accounts Recievables** -I am e-mailing to provide clarity on a letter you may receive from FVC Bank sent by Gilbert Kennedy and Patrick Gil from Shapiro Sher. The letter was sent to provide instructions on account receivables and the proper way of handling them for CoesterVMS as of 11/14/2018. Immediately both Patrick and Gill will be your point of contact for any questions or concerns...

AMCs Financial Trouble The AMC model does not work & these companies are in serious financial trouble... Stand Your Ground: A few weeks…
Criminal Charges Criminal Charges Brought Against AMC Owner VaCAP has been informed that AMC owner Brian Coester, of Coester Valuation Management Services…
AMC Owes Appraisers $750K Have Appraiser Loft executives screwed over appraisers again? VaCAP has been tipped off that the investors at Clarocity have uncovered some…

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VREAB to Discuss Hybrid Appraisals

VaCAP Board — Fri, 16 Nov 2018 13:30:33 +0000

…concerns on the negative impact on the real estate market… The Virginia Real Estate Appraisal Board Committee on Hybrid Appraisals will meet on Wednesday November 28th @1:00 PM. We ask that all appraisers attend and share your comments on these products. If you are unable to attend we ask that you submit your comments to the VREAB to be shared with the committee. Concerns on if these products comply with: 54.1-2011 which states any assistance by an unlicensed person must be directly supervised by a licensed appraiser. 54.1-2009 Definition of an appraisal which states an appraisal is an opinion, analysis...

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…
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…
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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Fast, Faster and Really Fast…

VaCAP Board — Mon, 15 Oct 2018 12:30:25 +0000

Appraiser must be comfortable valuing a property in 5-15 minutes using pictures… Fast, Faster and Really Fast… Take a look at the ad for an in-house appraiser in the Atlanta area. How many of your are good enough to apply for this job? Job description We are looking for Real Estate Appraisers (licensed in GA) to work remotely on an independent contractor basis.. Appraiser will primarily be responsible for valuing properties which are on foreclosure list. Appraiser must be comfortable valuing a property in 5-15 minutes using pictures from field report. The ideal candidate will have experience with valuing distressed...

Is that not Significant Assistance? Is the property inspection by an unlicensed person considered assistance? We came across an article written by fellow appraiser, George…
Are Bifurcated Appraisals Legal in Your State? Lately there has been a push for bifurcated (hybrid) appraisal products. Those promoting these questionable products claim it will reduce…
Need for Speed? Hybrids are NOT the Answer! ...surveys indicate that appraisals ordered directly by lenders take much less time... Dear Colleagues, There is a current narrative that…

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States Back LREAB Against FTC

VaCAP Board — Fri, 10 Aug 2018 12:30:43 +0000

States Support Louisiana Real Estate Appraiser Board against the FTC States (and appraisers) are very interested in the outcome of the LREAB vs FTC to protect their own sovereign actions. On July 11, 2018, the states of Mississippi, Idaho, Iowa, Rhode Island, and Utah filed an amicus brief with the United States Court of Appeals for the Fifth Circuit supporting the Louisiana Real Estate Appraiser Board. See the entire brief here or below. The outcome of this will impact each and every one of us. As we reported a few days ago, one lender, BB&T, has opted to step up...

Appraisal Fee Increase & Upload Fees VaCAP has learned from one of our members, BB&T will be following the Veterans Administration Fee Schedule moving forward. They…
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 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 that not Significant Assistance?

VaCAP Board — Mon, 30 Jul 2018 12:30:14 +0000

Is the property inspection by an unlicensed person considered assistance? We came across an article written by fellow appraiser, George Dell. Some of you may have heard of him, read his blog, or taken one of his classes. This article “What is a Hybrid?” hits home to many of us and thought it was worthy of sharing. Those promoting hybrid appraisals have been claiming USPAP compliance. Well anyone who has ever taken a USPAP class knows no form or product is USPAP compliant. The appraiser’s actions are what make a report USPAP compliant. In George’s article he points out the discrepancies...

Are Bifurcated Appraisals Legal in Your State? Lately there has been a push for bifurcated (hybrid) appraisal products. Those promoting these questionable products claim it will reduce…
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…
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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VREAB - Appraisers Blogs

Property Valuation and the Future of Data Collection

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Call to Comment; AMC Disciplinary Action

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You’re on the Menu

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Disciplinary Cases Against Hybrid Appraisers

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AMCs Responsible for the Hybrid Inspection

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Overwhelming Majority Are Against Hybrids

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Full Transparency in Fee Disclosure

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What Will It Take?

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Hybrid Appraisals, Invitation to Fraud

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Bifurcated Appraisals, a Controversial Topic

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Should AMCs Be Audited?

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Mueller Sample Report. You Decide!

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What If the Algorithms Are Wrong?

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AMC Asking Appraisers to Violate State Law

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Hybrid Committee Meeting Recap

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Coester VMS Bank Accounts Seized!

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VREAB to Discuss Hybrid Appraisals

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Fast, Faster and Really Fast…

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States Back LREAB Against FTC

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Is that not Significant Assistance?

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