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Exclusive: AI president discusses industry issues
Posted Date: Wednesday, August 5, 2015
Appraisal Institute President M. Lance Coyle, MAI,
SRA, said he feels very good about the overall condition of the Appraisal
Institute, but does believe the institute suffers from a lack of new members
joining the industry. What are the reasons for this “declining enrollment,” and
what steps are being taken to build up the organization’s numbers? Read on to
hear the president’s feelings on this issue, and other topics facing
appraisers.
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Georgia releases fee study, advances ‘customary and reasonable’ debate
Posted Date: Monday, August 10, 2015
The Georgia Real Estate Appraisers Board recently collected data on the fees
paid to non-AMC appraisers, becoming the sixth state to conduct a fee study, and
now the board has put the Georgia appraisal community on notice that it intends
to amend its rules to conform with the customary and reasonable fee standards
established by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
What’s in store for AMCs that do business in Georgia, and how can you let the
board know what you think about its proposal? Read on to find out.
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Kentucky releases appraisal fee study
Posted Date: Monday, August 17, 2015
In June, the Kentucky Real Estate Appraisers Board (KREAB) released the results of a study of residential property appraisal fees in the state. The study was requested by the KREAB in compliance with a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act. What will this study mean for AMCs doing business in the state of Kentucky? Read on for an in-depth look at this proposed fee study.
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The Appraiser Coach helps appraisers bring their ‘A’ game
Posted Date: Monday, August 10, 2015
Dustin Harris, known as “The Appraiser Coach,” is a
certified residential appraiser. His workshops teach appraisers how to be more
effective and efficient. As an appraiser, are you achieving your desired level
of success, or do you want to do more in terms of reaching your goals? Read on
for more information, including an insight into the coach’s special game plans.
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Appraisal company closing office to consolidate operations
Posted Date: Wednesday, August 19, 2015
A nationwide provider of appraisals, broker price opinions, and other valuation-related products to the financial services industry, announced it will close its Utah office and consolidate operations into three states. How will relocating help the company better serve clients? Read on for additional information about this move.
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Live coverage: Appraisal Institute honors award winners, names VP
Posted Date: Monday, August 3, 2015
The Appraisal Institute, at its 2015 Connect
Conference in Dallas, honored eight individuals with awards of distinction. The
group also elected a new vice president to its board of directors. Read on for
further information about those honored at the convention this year.
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Ohio county official says auditor failing ‘moral obligation’
Posted Date: Wednesday, August 5, 2015
During a public commissioner’s meeting, a Pike
County official told the auditor she had
a “moral obligation” to residents to keep values low. Read on to find out what the
auditor had to say, and what was behind the dispute.
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AI helping educate commercial appraisers on HVCRE regulation
Posted Date: Monday, July 27, 2015
The Appraisal Institute and the American Bankers
Association are addressing a new regulation on loans developed by the
high-volatility commercial real estate (HVCRE). The two groups will hold a
briefing to help bankers and appraisers learn about the effects of HVCRE
requirements on commercial lending. Read on for more details about this rule
and the briefing.
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ISBA offers business valuation course
Posted Date: Wednesday, August 19, 2015
The International Society of Business Appraisers (ISBA) will introduce a new six-day valuation course, combining instruction on valuation approaches and methods using ValuSource software. Read on for more details regarding this new technology for valuations and the course being offered.
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When can you report a range of value?
Posted Date: Wednesday, August 12, 2015
When can appraisers report an opinion of value as a
range? Did you answer “never?” The answer might not be as easy as you think.
Read on to find out.
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NC bill allows one background check for all AMCs
Posted Date: Wednesday, August 19, 2015
On Aug. 5, North Carolina Gov. Pat McCrory signed into law HB 651, legislation that eliminates the need for appraisers to submit a separate background check to each AMC with which they work. The bill also brings the state in line with Uniform Standards of Professional Appraisal Practice (USPAP). Read on to find out all the ways the bill will affect appraisers.
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New Montana bill revises state reappraisal process
Posted Date: Monday, August 3, 2015
A recently passed bill in Montana has revised the
state’s property tax laws and reappraisal process. State Sen. Matt Rosendale,
R-Glendive, said he believes it will increase taxes to eastern Montana
residents. Read on to find out why.
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Closing costs down, but did appraisal costs fall?
Posted Date: Wednesday, August 5, 2015
The average total cost a borrower pays to close on
a home loan has dropped slightly, a Bankrate.com survey finds. How have
appraisal costs fared in the past year? Read on to learn more.
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Appraisal foul-up hits school district budgets
Posted Date: Wednesday, August 19, 2015
An error revealed to Texas Gregg County Appraisal District trustees could be just one of many mistakes revealed signaling challenges to school district budgets across the county going back a number of years. How did this mistake, and others, occur, and what do school officials have to say to the appraisal district regarding the “error of its ways?” Read on to learn more.
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Fannie Mae's new headquarters will be linked in
Posted Date: Wednesday, August 19, 2015
Plans for the new headquarters of Fannie Mae got a lift recently. The government-sponsored enterprise is set to move into its new home in late 2017. Read on for the details.
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Texas company unveils new process to expedite appraisals
Posted Date: Wednesday, August 19, 2015
Valuation Partners, a national appraisal management company, announced it has developed a new purchase appraisal process to meet the mortgage industry’s demand for fast, high-quality valuations on purchase transactions. How will this process assist the appraiser regarding quality valuations? Read on for more information.
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FHA handbook section posted for feedback
Posted Date: Monday, August 17, 2015
The Federal Housing Administration (FHA) posted for stakeholder review and feedback the draft Claims and Disposition section of its Single Family Housing Policy Handbook. Feedback on the sections will be taken through Sept. 4. Read on for the details.
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ASA, AI testify on ‘fiduciary’ at EBSA hearing
Posted Date: Monday, August 17, 2015
Testimony was delivered Aug. 13 by American Society of Appraisers (ASA) and Appraisal Institute (AI) representatives at the Employee Benefits Security Administration concerning the proposed new definition of “fiduciary” that could greatly affect appraisers. Read on to find out what the associations said and their reactions from the hearing.
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FHA webinar to get in-depth on handbook
Posted Date: Monday, August 17, 2015
The Sept. 14 effective date for many sections of the Federal Housing Administration’s (FHA) Single Family Housing Policy Handbook is just around the corner. FHA will host a pair of webinars to explain these policies in-depth. Read on to find out when you can register for these sessions.
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Senior appraiser named trustee of Healthcare Foundation
Posted Date: Monday, August 17, 2015
Monica Kaden, MBA, ASA, and director of Marks Paneth LLP, recently was named a trustee of The Healthcare Foundation of New Jersey. Read on for more information about this accredited appraiser and her new role.
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ASA, AI to speak today on change in ‘fiduciary’ definition
Posted Date: Wednesday, August 12, 2015
Representatives from the American Society of Appraisers (ASA) and the Appraisal Institute (AI) will be speaking today before the Employee Benefits Security Administration (EBSA), addressing their positions and concerns regarding the EBSA’s rule proposing a new definition of “fiduciary.” Read on to hear both institutions’ comments and concerns about this proposed fiduciary rule.
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Mortgage credit availability increases in July
Posted Date: Wednesday, August 12, 2015
Mortgage credit availability increased in
July, according to the Mortgage Credit Availability Index, a report from the
Mortgage Bankers Association that analyzes data from Ellie Mae’s All Regs Market
Clarity business information tool. What led to this credit availability, and
will it mean more appraisals being ordered for home purchases? Read on for more
information.
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Collateral Underwriter helping push technology forward for appraisers
Posted Date: Wednesday, August 12, 2015
The implementation of Collateral Underwriter has
tested industry relationships throughout the appraisal process. At the Appraisal
Institute Connect conference in Dallas, U.S. Real Estate Services Chief
Appraiser Brad Froelich and Valuation Services Platinum Data Solutions Senior
Vice President Bill King discussed how the appraisal industry reviews tools
affecting the relationships between appraisers, AMCs and data providers. Read
on to find out what Froelich and King had to say.
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EAD registration opens Aug. 17
Posted Date: Wednesday, August 12, 2015
The Federal Housing Administration (FHA) said that
mortgagee registration for its Electronic Appraisal Delivery (EAD) portal will
open Aug. 17. The agency is urging participants to register as soon as
possible. Read on to find out how.
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Freddie Mac housing outlook focuses on vetting low downpayment loan
Posted Date: Wednesday, August 12, 2015
It is different this time. At least that’s the
contention of the writers of Economic and Housing Outlook regarding new
low downpayment mortgages. Freddie Mac’s Office of the Chief Economist,
which publishes the report, says that the company’s Home Possible Advantage
mortgage, introduced in March, is a very different product than
similar loans that were common before the housing crisis. How has this
“different” method opened more doors for potential new homebuyers? Read on to
learn more.
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Unifying the valuation profession
Posted Date: Monday, August 10, 2015
Recent trends in fair value measurement for
financial reporting are changing the valuation profession in a variety of ways.
What changes do the experts see and how will it affect the profession? Read on
to discover what changes have been made.
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Texas appraisal district completes property appraisals
Posted Date: Monday, August 10, 2015
The summer has been very busy for the Orange County
Appraisal District in Texas, according to officials. Read further as to all of
the notifications going out and what it means for residents of the county.
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CU update due in September
Posted Date: Monday, August 10, 2015
During the weekend of Sept. 26, Fannie Mae will
make available its new Collateral Underwriter Version 3.0 with specific
changes. Read on to learn just what these changes and updates are, and how they
will affect appraisers.
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Judge tells Treasury to turn over Fannie documents
Posted Date: Wednesday, August 5, 2015
The federal judge overseeing the Fairholme Funds
case ruled last week that the U.S. Treasury must release all documents it has
concerning the conservatorship of Fannie Mae and Freddie Mac. Read on to see
why the decision is important to the case.
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Inland names new senior executive
Posted Date: Wednesday, August 5, 2015
Inland Real Estate Advisors has named a new senior
executive of valuation services. This Illinois native has nearly 15 years of
experience in the industry. Read on for further information.
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HeliValue$, Inc., gains second ASA secretary
Posted Date: Wednesday, August 5, 2015
A new person will occupy the chair of secretary of
the Wisconsin Chapter of the American Society of Appraisers. Read for further
information regarding the newly elected official for ASA.
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Proposal intended to increase appraisal district accountability
Posted Date: Monday, August 3, 2015
Cities and school districts across McLennan County,
Texas, have mixed responses to a resolution under consideration that some
believe would increase accountability of the McLennan County Appraisal
District’s board of directors. Read on to discover the residents’ concerns.
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Clearbox announces new appraisal tool
Posted Date: Monday, August 3, 2015
A new tool that connects appraisers for Clearbox lender
and appraisal management companies is available. Read on to discover just what
this device is, and how it will help the industry.
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Florida city council, appraiser disagree over proposed raises
Posted Date: Monday, August 3, 2015
A Florida city council’s budget season hasn’t even
started, but some early season fireworks are on display already, with some
resistance being shown by a familiar source. Read on to find out whose lighting
the fuse regarding budgets and pay cuts.
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The Ohio State Bar details mortgage fraud identification tips
Posted Date: Monday, August 3, 2015
In Ohio, as in many other states, mortgage fraud
schemes are prevalent, especially in today’s world of distant lending and
mortgage brokering practices. The Ohio State Bar Association released
information designed to help identify mortgage fraud. Read on for the details.
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Assessor’s opinion of value upheld by Missouri county board
Posted Date: Monday, July 27, 2015
The Phelps
County Board of Equalization upheld the county assessor’s opinion of value on
the majority of residential and commercial property appeals. Read on for
additional information as to why some of the “value” numbers may be incorrect.
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Texas appraisal dispute centers on reclassification
Posted Date: Monday, July 27, 2015
A resident of Jefferson County, Texas, is
challenging what she calls secret reclassifications of appraisals by the
county’s new chief appraiser. Read on for details of the claims and how many
people it could affect.
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Freddie Mac elects new board member
Posted Date: Monday, July 27, 2015
Freddie Mac
has elected a new member for its board of directors. Read on to learn more
about the newest member to the Freddie Mac team.
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