Category: Trending

Subject Property Actual Location - Where Is It? 26

Subject Property Actual Location

Don’t say that the subject property is ‘within’ a particular City or Town due to the postal ZIP Code that applies to the street address unless that is accurate. The actual location may be miles away from there. Appraisers, this article was prompted by my ‘coming in contact with’ several appraisal reports where different regional appraisers report the physical location of the subject property “in” a particular City associated with the postal ZIP Code for that City. Actually, the property was not “in” the City at all. It was in the County. Since I observed this inaccuracy among appraisers who...

Appraisal / Appraisal News / Appraisers News / Trending

Only Blacks Need Apply... in the Spirit of Equity 43

Only Blacks Need Apply… In the Spirit of Equity

Fannie makes its subsidies for blacks explicit, but they don’t appear to extend to other racial groups such as Hispanics and Asians. Low-income white borrowers are also excluded. Last week, Fannie Mae & Freddie Mac announced actions that aim to make it easier to buy a home and close the racial homeownership gap. Their Equitable Housing Finance Plan for 2022-2024 outlines a range of pilot programs that remove barriers blacks face when buying or renting, and keeping homeowners and renters at home: Valuation Modernization aims to support an equitable appraisal process for Black households and communities of color Expand Appraiser...

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

Support your fellow appraisers in Georgia 30

Is Georgia Going Rogue?

VaCAP has learned the Georgia Real Estate Appraisal Board is considering rescinding rule 539-1-.23. This rule is the customary and reasonable fee requirement to appraisers from appraisal management companies. The matter will be decided at a 9:30 AM Sunday July 17, 2022 meeting. From the Georgia Real Estate Commission and Appraisal Board: RULE 539-1-.23 Appraisal Management Companies Purpose: In light of the recent decision and order In the Matter of Louisiana Real Estate Appraisers Board Before the Federal Trade Commission of the United States and to avoid even the appearance of anticompetitive conduct or the unreasonable restraint of price competition...

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

Appraisers Can Do These Property Data Reports for Appraisal Waivers 32

Property Data Reports for Appraisal Waivers

These Property Data Reports have a higher level or different reporting requirements than ordinary traditional appraisals. Appraisers, on Tuesday 5/24/22, an AMC sent a message to their appraiser panel appraisers asking them if they’d like to ‘help their lender clients’ by doing Property Data Reports (PDR). Let’s decipher what this is all about. Freddie Mac has decided, that as of Sunday, July 17, 2022, they must have a PDR (Property Data Report) completed “by someone” in order for the loan applicant to qualify for an appraisal waiver in conjunction with a mortgage loan. In other words, actual qualified eyeballs must...

AMC / American National Standards Institute / ANSI / Appraisal / Appraisal Management Companies / Appraisal News

USPAP Absurdity - Zero Value to Appraisers or the Public 29

USPAP Absurdity

From one of my appraiser colleagues in NYC on a McKissock class, taught by Dan Bradley, husband of Michelle Bradley who is chair of the Appraisal Standards Board of The Appraisal Foundation (this is COMPLETELY UNETHICAL). TAF BOT (the leadership that brought us the bat-shit crazy letter) is meeting in sunny Palm Springs San Diego right at this moment (probably to determine meanings of words like “The” and “This” and “That” and perhaps considering a new take on “misleading” that is still on the books!!!, of course, I realize that’s for the ASB to decide but please allow me some...

Snippets / Trending

Proposal to Eliminate the VA Fee Panel 26

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 those found in the conventional or FHA mortgage markets, would  improve timeliness, nor would it be in the best interests of veterans. On May 18, the Subcommittee on Economic Opportunity held a legislative hearing on the Discussion Draft of H.R. 7735, Improving Access to the VA Home Loan Act of 2022. The bill is sponsored by Representative Mike Bost, R-Illinois, the ranking member of the House Veterans Affairs Committee, and Senator Dan Sullivan, R-Alaska, a member of the Senate Veterans...

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

Biased Appraiser? Judging an Entire Profession by Anecdotal Evidence 28

Biased Appraisers? I Don’t Think So

To judge an entire profession by anecdotal evidence is equally both stupid and harmful… The entire emphasis was on “anecdotal evidence” which is not documented or supported. Story after story was told about how appraisers had produced a “biased” report. No documentation and no evidence to support their claims was presented. Folks, after discussing this topic with and learning more about the appraiser who wrote this following essay, I have decided to distribute the essay below as a way to further support what we appraisers do in our work, and to expose the fallacies that have been presented to date...

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

How to Destroy the Appraisal Profession: Government 101 45

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 things worse when they only have their plan in mind and NOT the FACTS from the people they are about to hurt. This is especially true in the Real Estate Appraisal profession and the newly introduced H.R. Bill entitled: Fair Appraisal and Inequity Reform Act of 2022. It’s essential to bring some information that not one person in the government or the people they are getting information from is talking about. First let’s step into my time machine and go...

AGA / AI / AMC / American Society of Appraisers / Appraisal / Appraisal Institute

Occupational Licensing Used to Intimidate and Shut Down Discourse 40

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 GOES TO DIE It smothers innovation and silences debate. These have been principal criticisms of occupational licensing over the years, and nowhere is innovation and debate under greater attack than in California. Last year, lawmakers there passed a bill tasking the state’s regulator of real estate appraisers to apply lopsided scrutiny to valuations that come in “low” (a friction point with the state’s powerful Realtors, lenders and homebuilders). California lawmakers now want to use the state’s medical board to intimidate...

Appraisal / Appraisal News / Appraisers News / Trending

Appraisers Getting Death Threats for Defending the Appraisal Profession 125

Appraisers Getting Death Threats

Several appraisers have informed us that they have received death threats simply because they have been outspoken online refuting the racial bias narrative and the allegations of racial discrimination in the appraisal profession that is being utilized to remove appraisers from the lending equation. Since we have no organized voice and no one to defend us, some among us have taken the task to educate the public about the appraisal process and what we do. And by doing so, they have been attacked, labeled as racist and their safety threatened. One appraiser wrote (we redacted any identifiable information): I already...

Appraisal / Appraisal News / Appraisers News / Trending

xml sitemap
blank