News By Edition

The appraisal profession continues to face challenging times with many changes on the horizon.

But how appraisers react to these changes could mean the difference between success and failure within their businesses.

Read the first part of Valuation Review’s interview with Computershare Chief Appraiser Tony Pistilli, who expressed his thoughts on what the future may hold.

After careful consideration of public comments, the Appraisal Standards Board (ASB), an independent board of The Appraisal Foundation (TAF), unanimously agreed to move forward with a fourth exposure draft for the 2020-21 edition of the Uniform Standards of Professional Appraisal Practice (USPAP).

The agreement took place at its Feb. 8 public comment meeting in Scottsdale, Ariz.

Read on to learn more and hear from some of the ASB members as to what from the draft will be addressed based on comments received.

Valuation Review spoke with John Torvi, vice-president of marketing and sales for Landy Insurance Agency, Inc.

Torvi shared his thoughts on what he believes are attacks on the appraisal profession, and how appraisers truly need to be heard.

Read on to find out more.

RICS, along with several other appraisal organizations, sent a letter to the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency requesting that the agencies hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 to $400,000. Read on to find out the RICS view on this.

The Federal Housing Finance Agency announced a study of the single-family housing market which used data from more than 16 million appraisals.

The study produced annual estimates of the average price of land used in single-family housing.

Read on to learn more from this study, which covered 85 percent of the population and 83 percent of all single-family homes.

Orange County (Florida) appraiser Rick Singh, who is being sued for numerous allegations of misconduct including bringing strippers into his office, is asking the county for financial help regarding his defense. Read on to learn more about this.

Are there more appraisers soon to be entering the profession?

The number of individuals sitting for the first time for one of the three National Uniform Licensing and Certification Exams increased significantly, with the number of millennial test-takers experiencing the steepest rise among all age groups in 2018.

Read on to learn more.

Fannie Mae announced that Jonathan Plutzik succeeded Egbert L. J. Perry as chairman of Fannie Mae’s Board of Directors, effective Dec. 12, 2018. Read on to learn more about this appointment.

After nearly two years of competition among more than 3,800 teams from 91 countries, Zillow conducted a contest awarding a $1 million prize.

The contest was held to improve the accuracy of the Zestimate, the company’s automated valuation model (AVM). The winning team improved the AVM by 13 percent.

Read on to learn more.

Leland Trice, executive managing partner of Valucentric, announced a finalized partnership agreement with Robert Jenican, who will help with the business’ plans to expand. Read on to learn more.

The American Society of Appraisers, along with 15 additional organizations, sent a letter to the Federal Reserve, Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency requesting that the agencies hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 to $400,000. Read on to hear more from the letter these appraisal organizations sent out.

Bowery Valuation announced the company closed a major deal.

The company secured a $12 million Series A round of funding led by Builders VC. This brings the total raised for Bowery Valuation to $19 million.

Read on to learn more about this commercial appraisal company’s rising revenues.

Class Valuation announced that the company has acquired Van Nuys, Calif.-based Landmark Network. Read on to learn more of this key acquisition within the real estate industry.

Despite a rise in interest rates and tight inventory, millennials closed a higher share of purchase loans year-over-year in December 2018, according to the latest Ellie Mae Millennial Tracker. Read on to learn more from this report.

Valuation Review continues its conversation with Computershare’s Tony Pistilli.

A veteran appraiser, Pistilli believes marketing services and expanding what appraisers can offer will be critical to their future success.

Read Part II of this story to learn more.

CoreLogic announced its new HMDA Check solution, combining optical character recognition data extraction with a rules engine that helps automate the HMDA auditing process. Read on to learn more and hear what CoreLogic’s product management department had to say.

According to Freddie Mac’s January Forecast, the housing market remains steady after a boost from lower mortgage rates and slowing home price growth. Read on to learn more from the report.