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Out with the old, in with the new American home
Posted Date: Wednesday, April 8, 2015
The American housing market is always in a state of change. Luckily for appraisers, housing trends tend to be less about revolutionary redesigns and more about the steady evolution of form and function. Nonetheless, understanding the subtle year-to-year changes in housing preferences is an important part of being a valuation expert. Keep reading to see what new-home trends one industry expert said are on the horizon.
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FHA details new appraisal delivery portal
Posted Date: Monday, March 30, 2015
The Federal Housing Administration released a mortgagee letter March 26 that outlines FHA’s new Electronic Appraisal Delivery portal. The portal is designed to make appraisal submission more efficient and promote higher quality appraisals by flagging potential errors up front. Keep reading to find out what the new portal means for appraisers.
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The appraisal issue triggering higher CU risk scores
Posted Date: Wednesday, March 25, 2015
There is one appraisal issue that has jumped out front and center in the infancy of Fannie Mae’s Collateral Underwriter. It is being cited as the main cause of higher risk scores. Keep reading to find out what is leading to more reports being flagged than anything else, and what one industry expert says you can do to prevent it.
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Appraiser groups bring CU concerns to Fannie leadership
Posted Date: Monday, March 30, 2015
A pair of national appraiser organizations met with top officials from Fannie Mae’s valuation team March 20 to discuss the groups’ concerns regarding Collateral Underwriter. Keep reading to see what issues the groups addressed and how Fannie responded.
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Los Angeles sounds call for appraiser trainees
Posted Date: Monday, March 30, 2015
Los Angeles County Assessor Jeffrey Prang announced a regional effort to recruit applicants for the county’s Appraiser Trainee/Real Property program. The Appraiser Trainee program is a one-year program designed to prepare candidates for a career in property assessment with the Los Angeles County Office of the Assessor. Keep reading for the program details.
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Committee campaigns for non-USPAP standards
Posted Date: Monday, March 30, 2015
The Appraisal Institute California Government Relations Committee announced March 24 a campaign that would allow California appraisers to use valuation standards other than the Uniform Standards of Professional Appraisal Practice. The change would apply when completing any assignment outside of federally related transactions. Keep reading to see why the committee is lobbying for use of non-USPAP standards.
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Appraisal association to advocate for fellow organization
Posted Date: Monday, April 6, 2015
A national appraiser association announced March 27 that it has signed an agreement with a fellow appraiser organization to back its government-relations activities on both the state and national level. Continue reading to see what two groups are partnering up to take on Capitol Hill.
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Lack of green comps poses challenge for appraisers
Posted Date: Monday, April 6, 2015
Valuation professionals, real estate agents and homebuyers face challenges in the process of valuing, selling and purchasing green and energy-efficient homes. That’s because of a lack of comparable properties and a lack of data, according to a new article from the Appraisal Institute. Continue reading to learn more.
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Spring home-buying season off to ‘great start’
Posted Date: Wednesday, March 25, 2015
New-home sales in February hit their highest pace since 2008, signaling a strong start to the spring. Keep reading to see what contributed to the jump in February sales, and what segment of the population still is lagging behind.
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Rule would lead to spike in building costs, job losses
Posted Date: Monday, March 30, 2015
A new report released March 26 by the Construction Industry Safety Coalition discussed a proposed rule from the Occupational Safety and Health Administration. The report found the rule would lead to increased cost of building materials and industry job loss. Keep reading to see the details of the proposed rule that some in the industry are speaking out on.
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Supreme Court rejects singer’s case involving false appraisal
Posted Date: Wednesday, March 25, 2015
The U.S. Supreme Court shot down singer Todd Rundgren’s attempt to appeal a previous court decision that denied Rundgren from preventing the foreclosure of his Kilauea, Hawaii, home. According to Rundgren, the banks connected to his home’s mortgage secured a false appraisal on the property, among other improper actions. Keep reading for the details.
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Woman goes after credit union for inflated appraisal
Posted Date: Monday, April 6, 2015
Lori Parks, a member of Tuscaloosa-based Alabama One Credit Union, filed a pair of complaints in court. She alleged that the credit union engaged in acts of fraud and theft pertaining to a property appraisal associated with Parks’ loan. Keep reading for the details.
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Couple files lawsuit against appraiser cited for USPAP violations
Posted Date: Monday, March 30, 2015
A Texas couple filed a civil lawsuit March 20 against an appraisal company and its owner. The company and owner recently were sanctioned by the state’s appraisal board for a number of USPAP violations. Keep reading for the details.
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Want a house? Just hit ‘print’
Posted Date: Wednesday, March 25, 2015
If you think you’ve seen cookie-cutter homes before, think again. A new technology is on the verge of revolutionizing how cheaply and quickly homes can be built, the only question is if it will catch on in the U.S. or be relegated to novelty status. Read on for the details.
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Appraisal tool aims to help appraisers avoid CU scrutiny
Posted Date: Monday, April 6, 2015
A pioneer of computer-aided appraising technology announced the release of its advanced appraisal analytics software March 30. Developed specifically to address the challenges appraisers face with new appraisal review programs, the software helps appraisers analyze property and market data and produce an appraisal addendum with analytics that support a stronger and more transparent appraisal. Continue reading to see how this software aims to help appraisers avoid blowback from today’s review programs.
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Website to offer property info for appraisers
Posted Date: Wednesday, March 18, 2015
A provider of real estate analytics announced the launch of a new website that offers property data, property reports, comparables, valuations, and other analytics for appraisers and other real estate professionals. Read on for the details.
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Appraisal at center of mobile home debate
Posted Date: Monday, April 6, 2015
Residents of a California mobile home park are hoping that a last-minute appraisal review will increase the compensation they’ll receive in the event they’re evicted from their homes. The appraiser who conducted the review found that the original appraisal was “flawed and does not provide reasonable estimates of in-place market value,” and that “it also appears that most of the shortcomings have resulted in an undervaluation of homes.” Keep reading for the details.
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Free tool allows appraisers to check data from previous appraisals
Posted Date: Monday, April 6, 2015
A provider of collateral valuation and risk assessment technologies announced it has included a new feature in its free appraisal review product. It will enable appraisers to compare current appraisal data with data from their previously completed appraisals. Read on for the product details.
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AMC adopts new appraisal review tool
Posted Date: Wednesday, March 25, 2015
With the industry’s increased focus on appraisal quality, mortgage lenders are taking longer to underwrite appraisals. To help make the process more efficient, one nationwide appraisal management company has implemented new appraisal review technology prior to submitting appraisals to lenders. Keep reading for the details.
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The top 10 commercial mortgage originators of 2014
Posted Date: Wednesday, March 25, 2015
The Mortgage Bankers Association released its annual ranking of commercial/multifamily mortgage firms by origination volume March 19. The MBA study is the only one of its kind to present a comprehensive set of listings of 127 different commercial/multifamily mortgage originators, their 2014 volumes, and the different roles they play. Keep reading to see who the biggest players were in 2014.
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