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News By Edition
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Valuation Review Edition
March 12, 2012
In the March 12, 2012, edition of Valuation Review, time waits for no appraiser. The appraisal industry is stuck in a bizarre limbo of appraisers who aren't getting any younger and a new generation that has little interested in the valuation space. Also in this edition, CoreLogic talks about the evolution of valuations, Veros' Bill King responds to the appraiser and Realtor relationship, foreclosure activity ramps up and FHA attempts to bolster capital reserves. All that and more in this edition of Valuation Review.
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Editor's Note: Can't we all get along?
Posted Date: Wednesday, March 14, 2012
Relationships have been the central theme of Valuation Review's last several cover stories. It's a theme that runs deep in the appraisal industry, and like any relationship — it's complicated. However, it's not so different from workplace drama in any other industry. There are colleagues that are a joy to work with. You build a mutual respect through quality of work and shared ethical views. And then there are those coworkers that just drive you crazy.
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Appraiser training day: Taking a trainee under your wing
Posted Date: Monday, March 12, 2012
Generating interest in the appraisal industry is one thing, getting a young gun through the training process presents a new can of worms. In a nutshell the problem is two-fold — stringent trainee requirements and reluctance of appraisers to take a trainee under their wing.
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Learning to 'like' appraising: Recruiting tomorrow's appraiser
Posted Date: Monday, March 05, 2012
Today’s younger generation can be an intimidating foreign entity. Plugged in and tuned out, the Y generation grew up with computers, prefers indirect communication through texts and is conditioned by Facebook to “like” something or simply ignore it. How do you pitch the appraisal industry as a viable career to them?
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The aging appraiser: More questions than answers
Posted Date: Monday, March 05, 2012
As with most issues facing the appraisal industry, the problem of the aging appraiser and the lack of new valuation blood presents more questions than answers, but where one appraiser sees a problem, another sees an opportunity.
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CoreLogic talks new products and evolution of valuations
Posted Date: Sunday, March 04, 2012
In the past week, CoreLogic introduced two products that impact the appraisal industry. The DefaultView impacts the servicer/lending side of the industry — providing the historical information and activity, as well as the opportunity to aggregate all the transactions at one touch point. The new Residential Evaluation Report offers the appraisal industry more than meets the eye. While at first glance, it could be viewed as a collection of CoreLogic products, the reality is that it’s the next step in alternat
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The appraiser incentive initiative
Posted Date: Thursday, March 01, 2012
From the appraiser’s point of view, there is little incentive for a qualified appraiser to take on a trainee. Proper supervision requires a significant amount of time on the part of the mentor; any gain in productivity by the assistance of a trainee will be offset by a reduction in productivity when checking reports, conducting field inspections, etc. Not to mention that once an appraiser is trained, that is another competitor in the market. So what's the incentive for the appraiser?
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FHA attempts to bolster capital reserves
Posted Date: Wednesday, February 29, 2012
As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante announced a new premium structure for FHA-insured single family mortgage loans.
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LPS extends HARP 2.0 support
Posted Date: Wednesday, February 29, 2012
Lender Processing Services Inc. announced that its LSI Title Division is extending its Streamlined Settlement solution to help lenders meet the Home Affordable Refinance Program (HARP) 2.0 agency program guidelines.
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The aging appraiser: Where is the next generation?
Posted Date: Tuesday, February 28, 2012
Time waits for no appraiser. The wheel turns ever onward, passing from generation to generation. That’s the idea, anyway. The appraisal industry, however, is stuck in a bizarre limbo of appraisers who aren’t getting any younger and a new generation that has little interest in the valuation space.
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Appraiser caught offside in mortgage fraud scheme led by former Dallas Cowboy
Posted Date: Monday, February 27, 2012
Following a nearly five-week jury trial, four co-defendants in a mortgage fraud scheme run by former Dallas Cowboy Eugene Lockhart and co-defendant William Randolph Tisdale were convicted on all counts of a superseding indictment charging them with various offenses related to a mortgage fraud scheme.
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Federal grand jury ups the indictment ante in $5,000 appraisal fraud case
Posted Date: Monday, February 27, 2012
You might remember the Louders – Portia and Chad – of Highland, Utah, who were handed an eight-count indictment by a federal grand jury, which alleged that the Louders paid as much as $5,000 for an appraisal last fall. A new indictment was returned and ups the ante to a 19-count superseding indictment with violations of federal law in connection with an alleged scheme to profit from loans fraudulently obtained from mortgage lenders.
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Webinar: How to get that perfect appraisal and win the customer’s trust
Posted Date: Monday, February 27, 2012
Appraisers take a lot of heat from lenders, appraisal management companies, Realtors and others who have developed a mistrust of the appraiser community over the past decade. Valuation Review is hosting a Webinar on March 8 that will instruct appraisers on how to better their business practices to earn back the trus
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LPS first look at January stats
Posted Date: Wednesday, February 22, 2012
Lender Processing Services Inc. reported the following "first look" at January 2012 month-end mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans.
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eMortgage Logic taps nationwide MLS data for improved valuations
Posted Date: Wednesday, February 22, 2012
eMortgage Logic LLC integrated nationwide multiple listing service data into its valuation management platform, providing a higher level of quality control, faster service and newer, more accurate solutions. The new integration allows brokers and appraisers to access MLS data directly through EML’s online platform, which will automatically populate the data input fields with all available information on the subject property and comparable properties chosen by the broker or appraiser.
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MountainSeed Appraisal Management names new officer, senior compliance manager
Posted Date: Wednesday, February 22, 2012
MountainSeed announced its new chief legal officer and senior compliance manager. Read on for more about the individual who previously worked at law firm Seyfarth Shaw, where he leveraged their sourcing, technology and project-management capabilities to design a variety of outsourcing arrangements, including compliance with bank-regulatory guidelines as well as appraisal and evaluation processes in real estate lending programs.
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Responding to the relationship: Veros' Bill King talks appraiser/Realtor relations
Posted Date: Tuesday, February 21, 2012
Last month’s National Association of Realtors Webinar that offered advice to real estate agents on how to work with appraisers is still causing a stir in the appraisal industry.Bill King, director of valuation services at Veros Real Estate Solutions, reached out to Valuation Review with several concerns after he read our previous cover story on the topic.
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Foreclosure activity starts to ramp back up across the country
Posted Date: Monday, February 20, 2012
It seems like months now that analysts have predicted that the next wave of foreclosures will unfreeze and start rolling through the pipeline. The latest foreclosure report continues to show a year-over-year decline, but the month-over-month pick up in foreclosure filings might be the beginning of the anticipated new cycle.
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