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Go where the jobs are: A look towards the future of appraising
Posted Date: Monday, February 23, 2015
The tectonic legislative- and institutional-level shifts in appraiser requirements over the past handful of years have left many appraisers to wonder what alternatives there are to the mounting regulations, lower fees, and scope creep that come standard with some residential assignments. Valuation Review talked with a panel of experts to see which specialized appraisal jobs are going to be most in demand over the next few years.
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Fannie letter addresses appraisers’ CU concerns
Posted Date: Wednesday, February 11, 2015
Fannie Mae released a Lender Letter Feb. 4 to clear up perceived misconceptions and misinformation among lenders and appraisers on the government sponsored enterprise’s policy changes over the past year-and-a-half. Not surprisingly, Collateral Underwriter was front and center among the topics the letter addressed. Keep reading to see what Fannie wanted appraisers to know about the rollout of CU.
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AI debuts form to help appraise commercial green features
Posted Date: Wednesday, February 11, 2015
The Appraisal Institute announced Feb. 11 it has released a form intended to help appraisers analyze values of commercial buildings’ energy efficient features. It is the first of its kind intended for appraisers’ use. Keep reading to learn how to get the form.
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USPAP changes for 2016-17 announced
Posted Date: Wednesday, February 18, 2015
The Appraisal Standards Board of The Appraisal Foundation has announced changes to USPAP that will be incorporated in the 2016-17 edition of USPAP, effective Jan. 1, 2016. The modifications came as a result of 19 months of discussion, four exposure drafts of proposed revisions to USPAP, one exposure draft of new proposed Advisory Opinions, and edits to an existing Advisory Opinion. Keep reading to see what the 2016-17 edition of USPAP will look like.
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Survey shows appraisers’ attitudes towards CU
Posted Date: Wednesday, February 18, 2015
The Illinois Coalition of Appraisal Professionals has posted the results from a recent Fannie Mae Collateral Underwriter Survey. The 10-question survey was open from Jan. 20 to Jan. 31 and was designed to measure the general sentiment of residential appraisers pertaining to the possible impact of Fannie’s CU program on appraiser independence.
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CFPB looks to loosen credit in rural, underserved areas
Posted Date: Wednesday, February 11, 2015
The Consumer Financial Protection Bureau proposed changes to its mortgage rules Jan. 29 that would open up lending possibilities for small creditors, particularly for those serving rural and underserved areas. Read on to get the full proposal breakdown.
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The Appraisal Foundation offers new seven-hour update course
Posted Date: Monday, February 16, 2015
The Appraisal Foundation, the nation’s foremost authority on the valuation profession, announced the release of a new course in its National Uniform Standards of Professional Appraisal Practice Course series, the seven-hour USPAP Update Course for Mass Appraisal. Keep reading for course details.
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Property valuation fraud on the decline
Posted Date: Wednesday, February 11, 2015
There is good news and bad news regarding property valuation fraud in the U.S.; it just depends on how you want to look at it. Keep reading for the full story.
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Bill would change how agricultural land is appraised
Posted Date: Monday, February 16, 2015
A Kansas bill that would change how agricultural land in the state is to be appraised was introduced Feb. 10 and referred to the Senate Standing Committee on Assessment and Taxation. Keep reading for the bill’s details.
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Form software to incorporate review on every appraisal
Posted Date: Wednesday, February 18, 2015
A leading provider of computer-aided appraising technology announced it has integrated its form-filling software with the only free appraisal review technology created specifically for residential real estate appraisers. Every appraisal submitted through the software now will be reviewed automatically. Keep reading for the details.
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LRES site promotes valuation best practices
Posted Date: Monday, February 23, 2015
LRES, a national provider of residential and commercial valuations and asset management for the mortgage, banking, credit union and real estate industries, announced the launch of its new website. Keep reading for the details.
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Appraisal Institute seeks feedback on CU
Posted Date: Monday, February 23, 2015
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, announced Feb. 18 that it has introduced a new section on its website for valuation professionals interested in providing feedback on their experiences with Fannie Mae’s Collateral Underwriter. Keep reading for the details.
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ASA responds to proposed USPAP changes, seeks modification
Posted Date: Monday, February 23, 2015
The American Society of Appraisers Business Valuation Discipline Committee issued a response letter to the Appraisal Standards Board’s recently issued USPAP changes for 2016-17. The ASA generally applauded the ASB’s proposed changes, but did single out one proposed change that the society felt was problematic. Keep reading for the details.
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Lender adopts new third-party screening services
Posted Date: Monday, February 23, 2015
A California-based lender has adopted new third-party risk-management services that provide mortgage originator and appraiser due diligence and profile surveillance. Keep reading to learn about the lender poised to heighten its screening process for its third parties.
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Home sales off to rocky start
Posted Date: Monday, February 23, 2015
The National Association of Realtors announced Feb. 23 that January home sales slumped, signaling a less-than-ideal start to 2015. Keep reading to see what experts had to say about the slow start to the year.
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CU, UCDP data to be more accessible to lenders
Posted Date: Wednesday, February 18, 2015
Fannie Mae sent out a notification Feb. 17 to single-family lenders informing them that, as of April 18, Collateral Underwriter and other Uniform Collateral Data Portal messages would be available across platforms to provide a “more holistic view of risk on a loan across multiple applications.”
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Diminished builder confidence linked to winter weather
Posted Date: Wednesday, February 18, 2015
Builder confidence in the market for newly built, single-family homes in February fell on the National Association of Home Builders/Wells Fargo Housing Market Index, released Feb. 17. Continue reading to see why one industry expert linked the diminished confidence to recent winter weather.
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Veros announces solution for appraisal submission to EAD
Posted Date: Wednesday, February 18, 2015
Veros Real Estate Solutions, a provider of enterprise risk management solutions, collateral valuation services and predictive analytics, announced Feb. 17 that lenders interested in utilizing FHA’s Electronic Appraisal Delivery (EAD) portal can achieve a direct connection for electronic appraisal submission through Veros’ new delivery solution. Keep reading for the details.
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Fannie addresses appraisal policy changes, blacklisting
Posted Date: Monday, February 16, 2015
Fannie Mae issued a Lender Letter Feb. 4 seeking to provide clarifications for lenders and appraisers regarding its recent policy updates, including those on making adjustments, selecting comps, and getting blacklisted by the AQM program.
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Report: Black, Hispanic homeowners face harsher recovery
Posted Date: Monday, February 16, 2015
Black and Hispanic homeowners have a more difficult time securing a home loan than their white and Asian counterparts, according to a Feb. 9 release from Zillow. Zillow’s analysis also showed that home values in many black and Hispanic neighborhoods lag behind home values in white and Asian neighborhoods at a disproportionate rate. Keep reading for the details.
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ASA to offer new course on comps
Posted Date: Monday, February 16, 2015
The American Society of Appraisers announced Feb. 13 that it plans to offer a new course for real property appraisers and assessors on how to determine what is and is not a comparable property. Keep reading for the course details.
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AMC announces partnership to integrate services for lenders
Posted Date: Monday, February 16, 2015
An AMC provider of residential appraisal services to mortgage lenders, credit unions and banks announced the immediate availability of integrated appraisal services for mortgage lenders using Mercury Network. Keep reading for the details.
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Consumer attitudes spilling into housing, Fannie economist says
Posted Date: Wednesday, February 11, 2015
A new Fannie Mae survey of 1,000 people asked them to weigh in on their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Keep reading for the details.
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