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Women who are leading the way in residential appraising
Posted Date: Wednesday, May 6, 2015
Residential real estate appraising has long been a male-dominated world, but there is a subset of the population who’ve bucked the statistics and made it to the top of the profession. Valuation Review spoke with three women who’ve climbed the corporate ladder about what got them into appraising, the role of women in the appraisal world today, and their advice for women looking to break through the profession in the future.
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Final rule on state registration and supervision of AMCs released
Posted Date: Wednesday, April 29, 2015
Six federal agencies released the final rule April 21 specifying the minimum requirements for state registration and supervision of appraisal management companies as required under the Dodd-Frank Act. Keep reading to see which changes the final rule focused on.
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Freddie announces appraisal changes to the UCDP
Posted Date: Wednesday, April 29, 2015
Freddie Mac announced April 29 that beginning June 30, the Uniform Collateral Data Portal will deliver new proprietary feedback messages for appraisals submitted to Freddie Mac. Freddie announced that the new proprietary messages are aligned with the government-sponsored enterprise’s effort to provide improved appraisal quality feedback. Keep reading for the details.
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Collateral Underwriter now coming to more lenders
Posted Date: Wednesday, April 22, 2015
Fannie Mae announced April 21 that it is expanding the number of lenders who have access to Collateral Underwriter. Keep reading to see which lenders previously shut out from CU now will be able to access the appraisal risk-management tool, and what instruction these banks were given.
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New book highlights importance of review appraisals
Posted Date: Monday, April 27, 2015
Reviewing appraisals has become increasingly important in recent years, with many appraisal reports being more closely scrutinized. A new book by the Appraisal Institute talks about the reviewer’s role in the larger arena of valuation practice, the essential criteria for acquiring and demonstrating professional competence, and the misunderstandings that sometimes hamper communication between reviewers and appraisers. Keep reading for the book details.
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Canadian valuation firm adds exec to aid U.S. acquisitions
Posted Date: Wednesday, April 22, 2015
A Canadian-based valuation firm announced the addition of a new member to its executive team. He will be tasked with easing the company’s acquisition of a U.S. AMC and alternative valuation provider. Keep reading for the details.
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Land dispute with tribe has residents protesting valuations
Posted Date: Monday, April 27, 2015
Residents in a small New Mexico county are protesting their property tax valuations, arguing that a land dispute between the county and a neighboring Native American tribe has rendered their properties worthless. Keep reading to see why dozens of New Mexican residents are protesting.
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Panel predicts when housing will get back to normal
Posted Date: Monday, April 27, 2015
A panel of economists recently participated in a National Association of Home Builders webinar discussing the short-term projections for the housing market. Keep reading to see when the panel said that housing will finally get back to normal.
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HUD program offering ‘second chance’ for delinquent borrowers
Posted Date: Monday, April 27, 2015
The U.S. Department of Housing and Urban Development announced changes to an FHA program that would allow borrowers who are delinquent on their mortgages a “second chance” at keeping their homes. Keep reading to see how the program is designed to shrink the number of homes headed for foreclosure.
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Ex-appraiser sentenced to 42 months in jail for inflating appraisals
Posted Date: Wednesday, April 29, 2015
A former real estate appraiser who ran a successful Pittsburgh-based firm for 36 years was sentenced to 42 months in federal prison for inflating appraisals on several Pennsylvania properties, allowing his co-conspirators to profit from the scheme. Keep reading to see the case details about the veteran appraiser who the prosecuting attorney said was “motivated by greed.”
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Quicken Loans faces heat for pressuring appraisers to inflate values
Posted Date: Monday, April 27, 2015
The U.S. Department of Justice announced that a complaint has been filed against Quicken Loans Inc. for improperly underwriting mortgages. In the complaint, the lender is accused of systematically pressuring appraisers to inflate values. Keep reading to see what caused one Quicken executive to write, “I don’t think the media and any other mortgage company … would like the fact we have a team who is responsible to push back on appraisers questioning their appraised values.”
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Assessor admits to violating ethics law in supervising son, grandson
Posted Date: Wednesday, April 29, 2015
A West Virginia county assessor admitted to violating the state’s ethics law in regards to hiring and overseeing her son and grandson, whom the assessor brought on as county mapper/supervisor and county appraiser, respectively. However, the assessor claims the charges stem from two disgruntled employees and are not what they seem. Keep reading to see the issues the two sides are fighting over in the ongoing settlement negotiations.
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Survey shows what different demographics value in housing
Posted Date: Wednesday, April 29, 2015
A new survey released April 23 shows that people’s perception of home value in the post-crash era runs much deeper than standard measures of price and location. Keep reading to see what it is that different demographics valued when it comes to housing.
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New database equates walkability with higher value
Posted Date: Monday, April 27, 2015
A provider of commercial real estate analytics recently announced the launch of its new indices to help determine the price value of “walkability” for commercial properties. The indices’ Walk Score is a single comparative measure of the ease or “walkability” from a given property location to nearby amenities. Keep reading to see how a walkable property equates to higher value.
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County assessor accused of nepotism in favoring supervisor, appraiser
Posted Date: Wednesday, April 22, 2015
The West Virginia Ethics Commission is scheduled to meet April 27 for a public hearing regarding numerous ethics complaints against the Raleigh County assessor. Among the complaints are allegations that the assessor favored her son and grandson during the hiring process, and then continued to award them with higher salaries and other benefits over more accomplished staff. Keep reading for all the commission’s allegations.
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North Carolina may be latest state to enforce customary and reasonable
Posted Date: Wednesday, April 22, 2015
North Carolina is the latest state taking on the debate over customary and reasonable fees. A new bill was introduced April 2 into the North Carolina’s House of Representatives that, if passed, would give the state’s appraisal board the authority to establish and enforce customary and reasonable fees for appraisers. Keep reading for the details.
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Fannie announces agency’s push for green building
Posted Date: Wednesday, April 22, 2015
Fannie Mae announced the first loan to close under its new initiative offering price breaks for green building initiatives. Fannie’s program is designed to provide “financing for green properties that are reducing energy and water use, lowering utility costs for owners and tenants, and preserving long-term property value.” Keep reading for the details.
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