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Your View: Chief appraiser offers reasons for shortage in profession
Posted Date: Wednesday, November 11, 2015
Greg Stephens, chief appraiser, SVP compliance with Metro-West Appraisal Company, LLC, is a recognized subject matter expert when it comes to appraisal regulations and standards. Valuation Review reached out to Stephens in this installment of “Your View” for his assessment on why the number of appraisers is low and what can be done to remedy this. Read on to see what Stephens had to say.
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Your View: AI president sees regulations as top industry concern
Posted Date: Monday, November 9, 2015
Appraisal Institute (AI) President M. Lance Coyle talked with Valuation Review about the future of the appraisal profession and some of the key topics that needed to be addressed within the industry today. Read on to hear what Coyle said, and where he believes the industry will be in the coming years.
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CoreLogic explains rationale behind LandSafe deal
Posted Date: Monday, November 2, 2015
In its recent third-quarter earnings call, CoreLogic disclosed the purchase price of the acquisition and detailed its expansion into property valuation solutions. Read on for the details.
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Bank to pay $287.5 million for inflated appraisals
Posted Date: Monday, November 2, 2015
The Texas District Court recently ruled that an international bank must pay $287.5 million for inflated appraisals from questionable real estate development deals. Read on for the details of this case.
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Bank VP notes difficulty of getting rural appraisals
Posted Date: Monday, November 9, 2015
Roger Porch, vice president of First National Bank in South Dakota, gave testimony before the Subcommittee on Financial Institutions and Consumer Protection of the Committee on Banking, Housing, and Urban Affairs in the United States Senate on the availability of appraisers in rural areas and regulatory challenges facing rural banks. Read on to hear what Porch told the committee.
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Your View: ‘Appraiser Coach’ optimistic on industry’s future
Posted Date: Wednesday, November 4, 2015
Dustin Harris, known as “The Appraiser Coach,” is a successful, self-employed residential and real estate appraiser. He has been appraising for nearly two decades, while serving as the owner and president of the Appraisal Precision and Consulting Group, Inc. This week, Valuation Review reached out to Harris for his thoughts on the state of the appraisal profession.
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AI helps produce ‘green’ valuation guide for lenders
Posted Date: Monday, November 2, 2015
The Appraisal Institute, the Institute for Market Transformation and the District of Columbia’s Department of Energy and Environment released a guide intended to help lenders understand the valuation of high-performance buildings. Read on for more details about this publication for lenders.
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House passes bill to block DOL rules, appraiser fiduciary regulations
Posted Date: Wednesday, November 11, 2015
The House of Representatives recently passed a bill that aims to block a Department of Labor (DOL) proposal that would raise the standards for financial professionals who provide retirement investment advice. U.S. representative Ann Wagner (R-MO) introduced this legislation. Read on to hear what Wagner had to say and what specifically this bill does for appraisal fiduciary rules.
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AI offers updated dictionary to enhance appraiser knowledge
Posted Date: Monday, November 9, 2015
The Appraisal Institute (AI) has published a sixth edition dictionary entitled “The Dictionary of Real Estate Appraisal.” Read on to learn more about this publication and what it offers to appraisers.
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ASA offering appraisal courses at college
Posted Date: Wednesday, November 4, 2015
The American Society of Appraisers (ASA), in conjuncture with the Massachusetts College of Art and Design (MassArt), will offer classes taught by senior appraisers beginning in January 2016. Read on to learn more about these courses.
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NAR president testifies in support of FHA reforms
Posted Date: Monday, November 9, 2015
National Association of Realtors (NAR) President Chris Polychron spoke before the U.S. House Financial Services Subcommittee on Housing and Insurance, offering support of H.R. 3700, the “Housing Opportunity through Modernization Act of 2015.” Read on to hear what Polychron had to say.
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Landy hires director of sales
Posted Date: Wednesday, November 4, 2015
As its market share continues to grow with increasing opportunity, Landy Insurance Agency announced the hiring of a new director of sales. Read on to hear more about this new appointment and what he had to say about the new position.
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Do independent appraisers have legal contract with homeowner in insurance disputes?
Posted Date: Wednesday, November 4, 2015
If a homeowner has a contract with a homeowner’s insurance provider, but not the independent appraiser it hires to assess damage to her property, can she seek legal remedy against the appraiser if she is dissatisfied with his decision? Read on to find out what a Louisiana federal court had to say about this question.
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Abundance of rentals can create value stagnation
Posted Date: Monday, November 2, 2015
There is a concern by lenders that property value declines significantly regarding property that is rented, as opposed to property that is owned. What are other concerns lenders have when it comes to valuation of rental property? Read on to learn more.
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Freddie Mac, Quicken Loans join forces making home financing easier
Posted Date: Wednesday, November 4, 2015
Freddie Mac and Quicken Loans, the nation’s second largest mortgage lender, announced a partnership to pilot several new initiatives aimed at helping provide more Americans the opportunity to achieve homeownership, while also building a smarter American mortgage finance system. Read on for more details.
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Valuation company reveals new product
Posted Date: Monday, November 2, 2015
Boxwood Means, LLC, a leading provider of asset valuations, research and data analytics for lenders and investors in the small commercial property and loan markets, announced the launch of Streamline, the firm’s latest CRE property valuation product. Read on to learn more about this product.
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Former AI president offers technology tips
Posted Date: Monday, November 16, 2015
Valuation Review recently hosted a webinar entitled “Technology Tips for the Efficient Appraiser,” with former Appraisal Institute President R. Wayne Pugh offering insight to attendees. Read on to hear some of what Pugh had to say about the importance of technology implementation into the appraisal profession.
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Home appraisal mistakes prove costly to Dallas resident
Posted Date: Monday, November 16, 2015
A Dallas homeowner is out thousands of dollars as a result of mistakes made eight years ago by his home appraiser. Read on to hear what went wrong with the initial appraisal, and why the appraiser and supervisor were disciplined by the Texas Appraiser Licensing and Certification Board.
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AI tells homeowners it’s time to winterize
Posted Date: Monday, November 16, 2015
The Appraisal Institute (AI) is encouraging consumers to winterize their homes now to save money and increase property value in anticipation of winter. Read on to hear what AI President M. Lance Coyle had to say on this matter.
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TAF adds standards, guidance to appraisal software
Posted Date: Monday, November 16, 2015
The Appraisal Foundation (TAF) partners with technology providers to create software programs for appraisers featuring the Uniform Standards of Professional Appraisal Practice (USPAP). Read on to learn what this newly introduced technology means for appraisers.
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Real-time information company helping stakeholders increase value
Posted Date: Wednesday, November 11, 2015
Convergentz, an advanced building automation integration company located in Houston, Texas, is partnering with building stakeholders to increase property value and tenant occupancy. Read on to learn more about this company and how it enhances the valuation process for property owners.
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CMHC reports evidence of overvaluation on homes
Posted Date: Wednesday, November 11, 2015
Unlike the numbers shown in the United States where homeowners value their property much higher than appraisers do, Canada shows a great number of its Census Metropolitan Areas where overvaluation of homes by the Housing Market Assessment (HMA) to be the case, and very problematic. Read on to learn the extent and reasons for such overvaluations.
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Appraiser throws former employer ‘under the bus’
Posted Date: Wednesday, November 11, 2015
Fifth Third Bank paid nearly $85 million in a settlement involving an appraiser who “blew the whistle” on a former employer. Read on to learn the details of this case and why this is considered a “win-win” for appraisers.
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EAD portal onboarding phase two begins soon
Posted Date: Wednesday, November 11, 2015
Onboarding to the Federal Housing Administration’s Electronic Appraisal Delivery portal is underway for FHA-approved mortgagees participating in the first onboarding phase. Read on to learn more about the deadline dates and registration procedures mortgagees must follow.
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ISA names new president, board
Posted Date: Monday, November 9, 2015
The International Society of Appraisers (ISA) introduced its new president and board of directors at its annual meeting in Chicago. Read on to learn the identities of these new leaders and hear what the newly appointed president has to say.
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California AMC hires new administrator
Posted Date: Monday, November 9, 2015
LRES announces a new vice president for its appraisal management company. Read on to learn more about the individual and what expertise he will bring to the company’s table.
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