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Former Fannie analyst on CU: Appraisers bring your A-game
Posted Date: Monday, February 9, 2015
Long before the nationwide launch of Collateral Underwriter became the single most polarizing event since the 2000 presidential election, the appraisal risk assessment tool had a more inconspicuous inception within Fannie Mae. One former Fannie analyst talked with Valuation Review about the origins of CU, what appraisers need to know about complying with it, and why CU is actually good for the industry.
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Nineteen state appraiser coalitions request CU access
Posted Date: Monday, February 9, 2015
Nineteen state appraiser coalitions have joined together to voice their concerns over the adoption of Fannie Mae’s Collateral Underwriter. At the center of the groups’ argument is the contention that denying appraisers’ access to CU not only compromises the appraisal process, but contradicts existing Fannie guidelines. Read on for the details.
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Appraisal issues holding up Detroit housing program
Posted Date: Wednesday, January 28, 2015
A home auction program established to help rebuild Detroit’s devastated housing market has stalled amid complications with financing, with inaccurate appraisals being cited as the main source of the problem. Keep reading to see why Detroit’s appraisers are struggling to keep up with the market.
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Fannie program stresses importance of quality appraisers
Posted Date: Wednesday, January 28, 2015
A new Fannie Mae program available to mortgage lenders shows the importance of hiring qualified appraisers, according to the nation’s largest professional association of real estate appraisers. Keep reading for the details.
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AQB modifies proposed background check requirements once more
Posted Date: Monday, February 2, 2015
The Appraiser Qualifications Board (AQB) of The Appraisal Foundation released its fifth exposure draft Jan. 27 regarding proposed revisions to the 2015 Real Property Appraiser Qualification Criteria and Guide Note 9. Keep reading to see the proposed changes to the board’s background check requirements.
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Appraisal fraud plummets in 2014
Posted Date: Wednesday, January 28, 2015
The U.S. Department of the Treasury Financial Crimes Enforcement Network has released its quarterly update of “SAR Stats” for the month of January, which shows that instances of appraisal fraud dropped precipitously from 2013 to 2014. Keep reading to see how and why appraisal fraud has fallen so sharply.
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Freddie chief economist on the move
Posted Date: Monday, February 2, 2015
Frank Nothaft, Freddie Mac’s chief economist of more than 25 years, has taken a new job as senior vice president and chief economist at one of the nation’s leading real estate analytics providers. Keep reading to see where Nothaft is on the move to.
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Fannie lays out expectations for housing, economy
Posted Date: Wednesday, January 28, 2015
Driven by strengthening private domestic demand, economic growth is expected to accelerate modestly this year, according to Fannie Mae’s Economic & Strategic Research Group. Keep reading to see Fannie’s predictions for the housing market for 2015.
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Home trends to begin to cater to millennials, experts say
Posted Date: Wednesday, January 28, 2015
As millennials begin to enter the homebuying market in larger numbers, expect the layout of the modern American home to change, panelists said during a recent conference on home trends and millennial home preferences. Keep reading to see what changes to expect in the near future.
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Appraisal panel’s findings at center of condo case
Posted Date: Monday, February 2, 2015
The Supreme Court of Minnesota recently was tasked with deciding whether an insurance company was liable for replacing all of the siding, even that which was undamaged, on buildings within a condominium association following a hail storm to match the color the panels had faded to. At the center of the case was the opinion of an appraisal panel, which the court relied on in making its decision.
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Bill would mandate AMCs pay customary and reasonable fees
Posted Date: Monday, February 9, 2015
A bill was introduced Jan. 23 to the Senate of Virginia by Sen. Stephen Martin that would mandate that appraisal management companies pay customary and reasonable fees to the appraisers that they work with. Keep reading for the full bill details.
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Internal documents show Morgan Stanley knew about bad loans
Posted Date: Monday, February 2, 2015
Recently released internal emails from Morgan Stanley could provide some of the strongest supporting evidence to date of the bank’s alleged practice of pushing subprime loans on African-Americans in Detroit during the housing bubble. Continue reading to see why these internal documents could help persuade a federal court to certify a potential class action suit against the bank in the next few months.
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MLS import tool for 1004MC comes to a la mode
Posted Date: Monday, February 2, 2015
A la mode announced that a step-by-step MLS import tool that automatically populates data into the entire Fannie Mae 1004MC form, generates charts, includes an editor to customize comments, and has built-in regression analysis is coming to its TOTAL Store. Keep reading to learn about the new form-filling software.
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Company releases appraisal fraud detection tool
Posted Date: Monday, February 9, 2015
A California-based provider of services dedicated to helping banks and other clients identify potential problems in their appraisals announced it has introduced a new tool to analyze potential fraud in mortgage appraisal reports. Keep reading to learn about how the tool was created to help ensure USPAP compliance.
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Appraisal software companies announce improved integration
Posted Date: Monday, February 9, 2015
A pair of software companies announced the improved integration of their form-filling appraisal tools designed to help appraisers save time, money and reduce potential errors from copying and pasting. Keep reading for more information.
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Accurity announces new director of regulatory compliance
Posted Date: Monday, February 9, 2015
Accurity Valuation, a nationwide provider of services for both residential and commercial properties, announced the appointment of a new managing director of regulatory compliance with previous ties to Fannie Mae. Keep reading to learn about the hire.
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AMC names new executives
Posted Date: Monday, February 2, 2015
A national appraisal management company with access to more than 10,000 independent fee appraisers in all 50 states announced it has made strategic changes in its personnel and structure. Keep reading to see the three industry veterans who will be taking over leadership roles for the national AMC.
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Bill would make appraiser information more accessible
Posted Date: Wednesday, January 28, 2015
A bill seeking to amend provisions of Missouri’s laws that govern appraisers would make licensee and applicant information more easily accessible and change the state’s requirements for those individuals serving as an executive director on a board or commission. Keep reading for the full breakdown of the bill.
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