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FHA lays out coming changes to appraisal policies
Posted Date: Monday, April 20, 2015
The Federal Housing Administration recently announced changes to its appraisal policies in its Single Family Handbook, outlined a new Electronic Appraisal Delivery portal designed to screen appraisals for errors prior to submission, and released a new guide specifying how appraisers should format their appraisal reports. Valuation Review talked with a pair of directors heading up the FHA’s Home Valuation Policy Division to get an update on all the changes.
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Fannie announces CU integration to minimize appraisal risk
Posted Date: Monday, April 20, 2015
Fannie Mae announced April 20 that it has integrated Collateral Underwriter with its automated underwriting system and pre-delivery data evaluation tool to help lenders more easily determine appraisal risk. Keep reading to see the steps Fannie is taking to further enhance its appraisal oversight.
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Appraisal Institute president meets with Fannie over CU
Posted Date: Monday, April 20, 2015
The Appraisal Institute announced that AI President Lance Coyle, MAI, SRA, met April 2 with officials from Fannie Mae to voice concerns about Collateral Underwriter. Keep reading to see Coyle’s concerns and what he had to say about limiting lender oversight.
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Appraisal Institute to offer free green appraising courses
Posted Date: Wednesday, April 15, 2015
The Appraisal Institute announced April 14 that it has extended its partnership with a California-based “green” building organization to enable more valuation professionals to take relevant education courses. The courses, being offered for free in Southern California, will run from late spring to early fall.
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Texas residents angered by appraisal hike
Posted Date: Wednesday, April 8, 2015
Texas residents are not happy with one county’s largest property tax hike in years, and the county is urging those who feel their homes are overvalued to protest. The county admitted that some of those homes are overvalued, but that the steep assessment matched the strengthening economy. Keep reading for the details.
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AMC expands into Virginia
Posted Date: Monday, April 13, 2015
An AMC operating in 45 states announced that it now has been registered to conduct business in Virginia. The AMC specializes in both residential and commercial properties. Read on for the details.
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NAHB cites ‘improper appraisal practices’ among top concerns
Posted Date: Monday, April 20, 2015
The National Association of Home Builders testified before the Senate Banking Committee during an April 16 hearing, citing “improper appraisal practices, a shortage of experienced appraisers, and inadequate oversight of the appraisal system” as major factors weakening the housing market. Read on for the details.
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An unlikely partnership: AMC joins state appraiser association
Posted Date: Wednesday, April 15, 2015
Like the Hatfields extending a dinner party invitation to the McCoys, a state appraisal organization is seeking to bridge the appraiser/AMC divide through the inclusion of a national AMC into its ranks. Keep reading to see who the two parties are, and what they told Valuation Review about why they joined together.
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Appraisal Institute recognizes four ‘Volunteers of Distinction’
Posted Date: Wednesday, April 8, 2015
The Appraisal Institute announced the recognition of four individuals as a “Volunteer of Distinction” for April. The Appraisal Institute’s recognition program honors volunteers for their service to the Appraisal Institute, to the real estate valuation profession, and to their local communities. Continue reading to see which industry veterans were recognized.
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Oil prices affecting home values nationwide
Posted Date: Monday, April 13, 2015
A provider of software products to help forecast local real estate markets released a study April 7 on the impact of recent oil price drops on the real estate market. Continue reading to see where oil prices are having the biggest impact on housing value.
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Study: Rising values could signal impending bubble
Posted Date: Monday, April 13, 2015
You know what they say about those who don’t learn from history. Just as most of the country is getting back on comfortable footing in terms of housing stability, a new study suggests that one-quarter of states across the country are approaching bubble status once again. Read on to find where.
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Bill mandating customary and reasonable fees awaits approval
Posted Date: Monday, April 20, 2015
A Georgia bill that would mandate appraisal management companies pay residential appraisers customary and reasonable fees has passed the state House and Senate. It now awaits Gov. Nathan Deal’s approval. Keep reading for the bill details.
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Appraisal deciding residents’ fate hinges on semantics
Posted Date: Wednesday, April 15, 2015
Residents of a California mobile home park looking to save their homes and the park’s owners looking to sell faced off before city council members April 14. The debate centered on the appraisal of the resident’s property, ultimately hinging on two words in the city’s ordinance. Keep reading to see what phrase the two sides went to battle over.
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Appraiser sentenced for $5M Ponzi scheme that bilked ex-NBA player
Posted Date: Wednesday, April 8, 2015
A New Jersey appraiser was forced to face the music in court for concocting a Ponzi scheme that bilked investors, including a former NBA player, out of $5 million. Continue reading to see the scam the appraiser perpetrated and the resulting punishment handed out in court.
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New tool to help appraisers select comps in-line with Fannie ratings
Posted Date: Wednesday, April 15, 2015
A new tool is hitting the market designed to help appraisers select sales comparables that are in line with Fannie Mae’s standardized C1 to C6 property condition ratings. Keep reading to see how the new tool is designed to help appraisers and what its maker told Valuation Review about it.
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AMC hires CFO with eye towards expansion
Posted Date: Monday, April 20, 2015
A national AMC announced it has hired its first chief financial officer with an eye towards future growth and expansion of the company. Keep reading for the details.
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National AMC brings new vice president aboard
Posted Date: Wednesday, April 15, 2015
A national appraisal management company with access to more than 10,000 independent fee appraisers in all 50 states announced April 13 that it has hired an industry veteran with more than 20 years of experience to help promote its valuation services throughout the Eastern U.S. Continue reading to learn about the new hire.
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New toolkit to educate consumers on homebuying, appraisal process
Posted Date: Monday, April 13, 2015
The Consumer Financial Protection Bureau recently released a new toolkit designed to help consumers better understand the homebuying process as they’re shopping for a mortgage. Lenders will be required to distribute the toolkit to help potential homebuyers recognize the cost and purpose of various real estate settlement services, including the appraisal. Keep reading to see what the CFPB stressed homebuyers should know about the appraisal process.
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AQB: University grads eligible for appraiser education credits
Posted Date: Monday, April 13, 2015
The Appraiser Qualifications Board of The Appraisal Foundation announced April 8 that graduates from a Texas university may be eligible for education credits for the Real Property Appraiser Qualification Criteria. Continue reading for the details.
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FHA holding conference call to educate appraisers on latest policy changes
Posted Date: Monday, April 13, 2015
The Federal Housing Administration announced that it will be hosting an industry briefing conference call for appraisers and underwriters April 16. The call will provide industry participants an overview of the agency’s recent appraisal-specific changes. Keep reading to see how to join.
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Handbook outlines AMC best practices
Posted Date: Wednesday, April 8, 2015
A national appraisal management company announced that it has made its “Best Business Practices for an Appraisal Management Company” handbook available for AMCs to help companies grow and better serve their clients. Keep reading to see what best practices the company advocates.
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Company acquires AVM, BPO provider
Posted Date: Wednesday, April 8, 2015
A company specializing in loan due diligence and real estate analytics announced it has acquired a provider of valuation products that include automated valuation models and broker price opinions. Keep reading for the details.
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