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SBA rule change opens Going Concern door for real property valuations
Posted Date: Monday, September 14, 2015
Updating Small Business Administration (SBA) lenders and appraisers on recent changes to the SBA appraisal policy was one of many topics for discussion at this year’s Appraisal Institute (AI) Connect conference in Dallas. Sloan Coleman, Director of 7(a) Program Branch, U.S. Small Business Administration, addressed these issues in front of a group of appraisers. Read on to hear what Coleman had to say about these changes, and how it will affect lenders, contractors and the appraiser.
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USPAP Q&A tackles AMC requests, ‘certified appraisers’, more
Posted Date: Monday, September 7, 2015
In an effort to help promote the Uniform Standards of Professional Appraisal Practice (USPAP) and dispel common myths about the appraisal profession, Valuation Review has partnered with experts from The Appraisal Foundation to answer your on-the-job questions about appraisal best practices and other commonly misunderstood areas of the appraisal world, such as USPAP guidelines. Read on for the answers to questions surrounding USPAP.
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Use caution when making assumptions
Posted Date: Wednesday, September 16, 2015
The Appraisal Standards Board and USPAP instructors are working to clear up misunderstandings with respect to what constitutes an assumption, an extraordinary assumption, and a hypothetical condition – essential disclosure tools for appraising. What are the distinctions between the three? Read on to learn more.
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Company buys Tampa-based appraisal group
Posted Date: Wednesday, September 9, 2015
A real estate conglomerate has acquired an appraisal services company based in Tampa, Fla. The acquisition will expand appraisal services to the group throughout the Southeast, the company said. Read on for the details.
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Selling yourself: The need for appraiser testimonials
Posted Date: Monday, September 7, 2015
Appraisers need to make sure they’re marketing themselves to high-fee, non-lender clients by having an online presence and interacting with social media. How can this be achieved and what can appraisers do to enhance their presence regarding the obtaining of clients? Read on for more information.
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AI board adopts ‘Valuers Code of Professional Ethics’
Posted Date: Monday, September 14, 2015
The Appraisal Institute Board of Directors, at this year’s AI meeting in Dallas, officially adopted the Valuers Code of Professional Ethics as a model code. What specific ethical doctrine did the board implement for members of the industry? Read on to find out more about the adopted code.
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EAD reopening registration
Posted Date: Monday, September 14, 2015
The Electronic Appraisal Delivery (EAD) portal mortgagee onboarding phase registration is available once again in the Federal Housing Administration (FHA) Connection. Read on for more details about the reopening and how one needs to prepare for the onboarding including links to various sites for additional information.
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Background checks can be thorny issue
Posted Date: Monday, September 14, 2015
The Office of the Controller of the Currency (OCC) outlines the management responsibility banks must take when dealing with third parties. Third parties include the banks AMC use to manage their appraisal orders, and vendor appraisers. What are banks telling AMCs to do in terms of background checks for the appraiser? Read on for more details.
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FHA alerts appraisers to requirements for attic inspections
Posted Date: Monday, September 14, 2015
The FHA has always had specific procedures for appraisers when it comes to inspecting attics. What are some of the procedures appraisers need to know regarding this particular area of home appraisals? Read on for more information.
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Comergence names business development manager
Posted Date: Wednesday, September 9, 2015
Comergence, a provider of third-party vendor and risk-management platforms for the mortgage industry, has hired a business development manager. Read on to learn more about the new manager.
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Court: Fee schedule proves appraiser not ‘impartial’
Posted Date: Wednesday, September 16, 2015
A Colorado district court ruled recently that the fee schedule used by an appraiser in an insurance dispute proved that he was not impartial in the matter. One month later, a different case involving the same appraiser asked the court to consider reopening discovery to determine whether the appraiser was impartial in that case, as well.
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Appraisal district: Incorrect boundaries used
Posted Date: Monday, September 7, 2015
Parker County Appraisal District Chief Appraiser Larry Hammonds confirmed that the Texas district has been using the wrong boundary line when calculating property values for the two entities. What specific errors were committed by district appraisers? Read on to find out more information.
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Former Ohio appraiser not released yet
Posted Date: Monday, September 14, 2015
The Franklin County Court of Appeals has again told a Common Pleas judge that she got it wrong by granting an early release to Daniel J. Nichter, a former appraiser, who was convicted of identity fraud. What are the courts specific claims as to the judge’s errors, and what are the details of fraud in this case? Read on to find out more.
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Homeowners continue to value higher than appraisers
Posted Date: Wednesday, September 16, 2015
For the seventh consecutive month, homeowners have overvalued their properties producing a wide gap between appraiser opinion and homeowner perception. How different are the numbers in terms of opinion and perception? Read on for a complete, statistical breakdown.
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FHFA updates Common Securitization Platform
Posted Date: Wednesday, September 16, 2015
The Federal Housing Finance Agency (FHFA) released an update on the Common Securitization Platform (CSP). The update details progress made in the development of a new infrastructure for the securitization of single-family mortgages by Fannie Mae and Freddie Mac. Who will begin to use the CSP first? Read on for more information.
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FNC updates AppraisalPort
Posted Date: Wednesday, September 16, 2015
Mortgage technology firm FNC Inc. has released a new version of AppraisalPort. What does the update include? Read on for further details.
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Collateral Analytics’ tool details market
Posted Date: Wednesday, September 9, 2015
Collateral Analytics has developed a tool to help appraisers detail and define local market conditions. Read on for more information about this system.
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Dart Appraisal aligns with LendingQB
Posted Date: Wednesday, September 16, 2015
Dart Appraisal, an independently owned nationwide appraisal management company, has announced an integration with LendingQB, a provider of browser-based, end-to-end loan origination software for residential mortgage banking organizations. Read on for more information.
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Georgia chief appraiser asking for help
Posted Date: Wednesday, October 21, 2015
Oconee County (Ga.) Chief Property Appraiser Allen Skinner is looking for help to keep his staff from falling further behind in its appraisal work. Read on to find out what he hopes will make a change.
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Oregon assessor’s report flawed, state says
Posted Date: Monday, October 19, 2015
The Oregon Department of Revenue conducted a county study to determine real market values of local properties by comparing sales against appraisals. The study contained enough flaws that the county could be found non-compliant with state law if the same errors happen next year. Read on to see how the county assessor reacted to such charges.
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5th annual Voice of the Appraiser report available
Posted Date: Monday, October 12, 2015
The Voice of the Appraiser’s fifth annual special report is available for free download today, with a look at what appraisers throughout the industry are seeing today and in the future. We take a look at how the industry has changed over the past five years through the eyes of the men and women who are working in the field. A record number of lenders also responded to provide their view of the appraisal industry. Thanks to sponsors Landy Insurance Agency, Inc. and McKissock Education, this special report is available as a free download. Get your copy today!
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LRES forms new partnership
Posted Date: Wednesday, September 23, 2015
LRES, a national appraisal management company and REO manager offering property valuations, asset management and technology solutions for mortgage bankers, lenders, servicers, credit unions and private investors, announced that it has formed a strategic partnership with a lender-placed insurance, tracking and compliance services provider. Read on for more information.
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Valuation Review contest winners announced
Posted Date: Wednesday, September 23, 2015
Three appraisers who filled out surveys for our fifth annual Voice of the Appraiser have been selected as winners of subscriptions to Valuation Review. Read on to find out who the lucky winners are this year.
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VA may have overpaid for hospital site
Posted Date: Wednesday, September 23, 2015
A federal investigation shows that the U.S. Department of Veterans Affairs might have overpaid more than $3 million for a controversial site located near a new veteran’s medical center in Louisville, Ky., and violated its own policies about appraising and acquiring the property. Read on to learn more about this “controversial” site, and what the VA has to say about overpaying for the land.
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Texas appraisal district using Thomson Reuters technology
Posted Date: Wednesday, September 23, 2015
The Tarrant Appraisal District (TAD), responsible for appraising properties for all jurisdictions within Tarrant County, Texas, is the first government entity to implement a software product from Thomson Reuters. Read on to see what this new technology has done for appraising results.
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Housing market roaring; TRID not expected to stop it
Posted Date: Wednesday, September 23, 2015
National Association of Home Builders Chief Economist David Crowe said the association’s latest measure of homebuilder sentiment is at a 10-year high, and the response he’s heard from builders is that even the implementation of the TILA-RESPA Integrated Disclosure (TRID) rules next month won’t slow things down. Read on for the details.
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Collateral Analytics adding to its home price forecasting models
Posted Date: Monday, September 21, 2015
Collateral Analytics will be implementing a market condition indicator to its home price forecasting models. The combination of long-run and short-run market condition drives have strong predictive power and forecasting ability. Read on to learn more about Collateral Analytics’ latest addition.
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New appraisal-sharing functionality in UCDP coming
Posted Date: Monday, September 21, 2015
Fannie Mae and Freddie Mac will implement a new appraisal-sharing solution within the Uniform Collateral Data Portal (UCDP) in the first quarter of 2016. What will this allow appraisers and lenders to do? Read on for additional information.
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Industry groups ask for TRID exam guidance
Posted Date: Monday, September 21, 2015
Appraisal associations joined nearly 20 trade groups urging federal regulators to provide guidance on how they plan to enforce a new regulations that go into effect Oct. 3. What are these groups asking for? Read on for all of the details.
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APC has plan to ‘right the ship’ for appraisers
Posted Date: Monday, September 21, 2015
The Appraisal Prosperity Coalition (APC), established in April 2014, addresses regulatory and legislative needs for real estate appraisers. The APC has a detailed outline as to fix problems facing these appraisers. How does it hope to put ordering power back into the hands of real estate appraisers? Read on for the “plan of attack.”
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ASA hosts annual leadership orientation
Posted Date: Wednesday, September 16, 2015
The American Society of Appraisers (ASA) held its annual leadership orientation this month at its headquarters in Reston, Va.
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FHA appraiser training, handbook webinars scheduled
Posted Date: Wednesday, September 9, 2015
A free Federal Housing Administration (FHA) on-site training seminar will be held for appraisers, mortgage loan professionals, underwriters and loan officers. Single Family Housing Policy Handbook webinars discussing FHA Connection Systems Changes and Appraiser Property Requirements also will be offered. Read on for details regarding these events and how appraisers can register to participate.
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Lincoln Appraisal attains AMC license in Virginia
Posted Date: Wednesday, September 9, 2015
Lincoln Appraisal & Settlement Services announced the addition of an appraisal management company license approval in Virginia. Read on for additional details.
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What you need to know about FHA appraisal changes
Posted Date: Wednesday, September 9, 2015
Three months after they originally were supposed to take effect, new Federal Housing Administration (FHA) changes to appraisal guidelines in its “Single Family Housing Policy Handbook” take effect next week. Read on as two directors from FHA highlight the key points appraisers need to know about the changes.
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