By admin, on October 13th, 2009%
The Federal Housing Administration (FHA) today announced several significant policy changes that are intended to improve their exposure to risk. The changes, effective January 1, include:
Modification of Procedures for Streamline Refinance Transactions
Adoption of Home Valuation Code of Conduct Guidelines (some not all)
Updated Appraisal Validity Period
New Appraisal Portability Regs
New Requirement of Lenders to Submit of . . . → Read More: FHA Adopts Some HVCC Guidelines – Mortgagee Letter 09-28: Appraiser Independence
By admin, on October 13th, 2009%
Appraisers have had blinders on for way too long. It is time to open our eyes wide, keep an open mind and to truly think outside the “check” box.
Most of us learned this crazy business by filling out a form.For me, it was actually preparing forms on the good old typewriter, and since clients . . . → Read More: Analyze The Market! Qualitative vs. Quantitative
By admin, on October 13th, 2009%
The New York Times story “In Appraisal Shift, Lenders Gain Powers and Critics“, by David Streitfeld, the author does an excellent job of taking its readers through the HVCC time-line and illuminating the current issues with appraisal ordering and pressure.
Below are a few quotes from the Times story:
“We’ve been begging for years for enforcement of . . . → Read More: N.Y. Times on Ordering Appraisals – " . . Lenders Now Control the Entire Process"
By admin, on October 13th, 2009%
According to the story by Courtenay Edelhart, Californian staff writer, Insurer suing Bakersfield appraiser.
“Lloyd’s of London filed a lawsuit against Newton, owner of San Joaquin Appraisals Inc., on June 16 alleging he misled the company on his application for errors and omissions coverage. The lawsuit seeks permission to rescind the policy, which it said was granted . . . → Read More: Lloyd’s of London filed a lawsuit against appraiser for misleading the company on his application for E&O coverage
By admin, on October 13th, 2009%
After three years of trying, it finally took a new Governor and a persistent ICAP to get Appraisal Bill – HB1015 passed. The Bill passed in the Senate on May 13th unanimously! It then went to Governor Pat Quinn for his signature.
According to T.J. McCarthy of the Illinois Coalition of Appraisal Professionals (http://www.ICAPweb.com ):
“The long awaited signing of the . . . → Read More: Illinois "Appraisal Bill" HB 1015 must wait a little longer!
By admin, on October 13th, 2009%
76 percent of REALTORS® are on Facebook, according to the 2009 REALTOR® Technology Report. The survey offers a snapshot of REALTORS® and the technology they are using.
Another tidbit – the top three tools respondents plan on purchasing or replacing in the next year are
1. a smartphone with email/Internet connection,
2. notebook/laptop and
3. digital camera
Source: . . . → Read More: 76 percent of REALTORS® are on Facebook
By admin, on October 13th, 2009%
SPECIAL WELCOME to Appraisal Scoop’s Newest Author- David Towne of http://www.towneappraisals.com/
This is one of those ‘don’t shoot the messenger’ type articles. It contains true information that most appraisers may not know, or think they know, incorrectly. But if you ‘say’ you write reports with USPAP compliance, you may want to read and heed this information. There . . . → Read More: Appraiser’s ‘rock ‘n hard place’ issue – the Client name in a report
By admin, on October 13th, 2009%
Bloomington, IL – Brady Homes will build one deserving Central Illinois family a new home as part of the Emmy award-winning reality TV show, ABC’s Extreme Makeover: Home Edition.
Brady Homes was chosen as the contractor for this “Extreme” build due to its reputation for giving back to the community. They have built four homes . . . → Read More: Local: Brady Homes Chosen For Extreme Makeover: Home Edition
By admin, on October 13th, 2009%
Why do consumers prefer Toyotas or Hondas vs. Chevy’s, Fords or other American cars? It would seem that most cars provide basically the same features, but year after year Toyota and Honda continue to provide reliability and value beyond that of their competitors in the eyes of buyers.
While American car manufacturers have closed the gap, . . . → Read More: Reinventing the Appraisal Process: What can be done to change the market’s perception of the services the professional appraiser provides?
By admin, on October 13th, 2009%
From the video below . .
Now, instead of lenders pressuring appraisers it’s the AMC’s. Garber says members complain the AMCs are forcing up to 60 percent reductions in their fees, and that can lead to problems.
“If you’re seeking out a low cost service provider, you may not be able to find that in many of . . . → Read More: Video – Fox 5 News – Washington, D.C. – HVCC "Appraisal Rules" Impact Housing Market
