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AMC owner sets record straight on media reports of Louisiana fine
Posted Date: Thursday, June 11, 2015
Brian Coester, CEO of Coester Valuation Management Services, an AMC based in Rockville, Md., is going on record to clear his company’s name after a confidential settlement between his company and the Louisiana Real Estate Appraisal Board was leaked by a board staff member to a mortgage industry publication, sparking reports about the nature of the settlement and industry gossip about whether Coester VMS pays its appraisers “customary and reasonable” fees. Read on for Coester’s side of the story, which concerns not only this incident, but also a controversial conflict between federal and state law about how appraisal fees should be established.
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Quicken economist: ‘Don’t read too much into’ gap between appraiser, homeowner opinions
Posted Date: Thursday, June 11, 2015
Although recent Quicken Loans surveys have found that the gap between appraisers’ property assessments and homeowners’ opinions of their property values continues to widen, an economist for the Detroit-based mortgage lender tells Valuation Review this trend is actually good news for appraisers. Read on to find out why.
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FHFA picks own index to set conforming loan limits
Posted Date: Monday, June 1, 2015
After nearly eight years without changing the conforming loan limits for Fannie Mae and Freddie Mac, the Federal Housing Finance Agency announced that it will select a home price index to determine those amounts going forward. It proposed one of its own home price indices. Read on to see which one, and find out the reasoning behind choosing it over other public and private alternatives.
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Louisiana parish group upset over higher appraisal of property
Posted Date: Monday, June 1, 2015
Residents of St. Tammany Parish in Louisiana are up in arms about the money spent by the parish on watershed property — money that increased drastically after an appraisal of the property before its sale. Read on to find out why the appraisal changed, and what it meant for the parish and its residents.
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Appraisal Institute goes green
Posted Date: Monday, June 8, 2015
The Appraisal Institute trade association has joined dozens of other public and private-sector organizations in a U.S. Department of Energy effort that seeks to expand awareness of energy efficiency in American homes. Read on to find out the details of the partnership.
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Nebraska county assessor lowers valuations for hundreds, including campaign donor
Posted Date: Monday, June 8, 2015
A newly elected Nebraska county property assessor has made good on her campaign pledge to reduce property valuation burdens on her constituents — and one of the largest beneficiaries happens to be one of her campaign donors. What role did his donation play in the reduction of his property assessment? Read on to find out.
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NS3 attendees help Make a Child Smile again
Posted Date: Tuesday, June 9, 2015
For the fourth year in a row, attendees at October Research, LLC’s National Settlement Services Summit got together to help make a difference in the lives of area children. Attendees took time out of their panel discussions, education and networking in Atlanta on Monday to help build 30 children’s bicycles and Big Wheels as part of the “Make a Child Smile” charity event, sponsored by Windward Consulting | Software and Adeptive. The bikes and corresponding helmets were presented to Atlanta Ronald McDonald House Charities on Tuesday afternoon. Read on for all the details.
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Texas county residents protest increased property valuations
Posted Date: Wednesday, June 10, 2015
“I will break the windows and burn buildings,” said one property owner in response to a sudden spike in the value of his home in Hidalgo County. Are some homeowners in Hidalgo County, Texas, seeing a $20,000 increase in their property values this year? That’s what residents of this county, who are concerned about the correlating spike in property taxes, want to know. Read on to find out what’s responsible for the increase.
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Index shows credit loosening since start of 2015
Posted Date: Wednesday, June 10, 2015
One of the federal government’s goals for the beginning of 2015 was to loosen mortgage credit availability to the marketplace. It appears that the push has been working. An index measuring credit availability shows a continued loosening in credit since January. Read on for the details.
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Inside Quicken Loans’ battle with the feds
Posted Date: Monday, June 8, 2015
Quicken Loans this week scored the first win in a legal tussle that has been quietly brewing for three years between the mortgage lender and the federal government over its handling of Federal Housing Administration (FHA) loans, but the real fight and the impact it may have on the mortgage lending process — including appraisals — is just beginning. Find out why some professionals think the legal battle could be a big win for both Quicken and the industry.
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Tennessee man pleads guilty to acquiring inflated appraisals to defraud bank
Posted Date: Monday, June 1, 2015
A Tennessee man has pleaded guilty to conspiracy charges in a mortgage fraud scheme in which he paid an appraiser to provide a property appraisal at more than twice the value of the property. Read on to find out what he gave the appraiser to provide the false appraisals, and what lies ahead.
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LRES adds three VPs to roster
Posted Date: Monday, June 15, 2015
LRES announced that it hired three veterans to management positions on its sales team. Read on to find out who the company picked to lead the way.
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FHA releases system enhancements for appraisal section of handbook
Posted Date: Monday, June 1, 2015
The Federal Housing Administration has released system enhancements for its FHA Connection that will coincide with policies and programs previously announced in its Single Family Housing Policy Handbook. Appraisal Logging is one of three screens primarily affected by the enhancements. Read on for the details.
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Ernst unveils TRID collaboration system
Posted Date: Monday, June 15, 2015
Ernst Publishing Co. unveiled a new tool at the National Settlement Services Summit (NS3) last week. The tool helps settlement agents connect with lenders to remain compliant after the TRID rule takes effect Aug. 1. Read on for the details.
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Regulators get frank with NS3 audience
Posted Date: Wednesday, June 10, 2015
From beards to TRID to simultaneous issuance and data security, panelists at the regulators’ open forum Monday shared a frank discussion of top issues with the audience at October Research, LLC’s National Settlement Services Summit (NS3) in Atlanta.
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October Research, LLC presents annual industry awards
Posted Date: Tuesday, June 9, 2015
October Research, LLC presented its fourth annual industry awards today at its National Settlement Services Summit in Atlanta. Awards were handed out for exemplary accomplishment in the areas of leadership, innovation and philanthropy. Read on to find out the winners.
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CFPB announcement puts spotlight on NS3 event
Posted Date: Monday, June 8, 2015
The 11th annual National Settlement Services Summit (NS3) opened its doors Monday with an even more focused view on the industry-wide changes happening Aug. 1. The Consumer Financial Protection Bureau’s statement last week that it would be “sensitive” to companies making “good-faith efforts” to comply with TRID after Aug. 1 put a whole new set of questions on the table. Read on to find out what answers might be in store at NS3.
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Colorado homeowners protest mile-high valuation spikes
Posted Date: Monday, June 8, 2015
Property values in Denver have increased by an average of 29 percent. What’s responsible for the sudden increase, and what recourse are property owners taking to protest their sudden spike in property taxes? Read on to find out.
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CFPB will be ‘sensitive’ to 'good-faith' compliance efforts
Posted Date: Friday, June 5, 2015
After months of increasing pressure from industry groups and Congress, the Consumer Financial Protection Bureau (CFPB) made an announcement about the Aug. 1 effective date for the TILA-RESPA Integrated Disclosure (TRID) rules. It was not, though, what many hoped to hear. Read on for the details.
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ASA branches out to teach property appraisal
Posted Date: Monday, June 1, 2015
As residential appraisers look to expand their horizons into different areas of work, the American Society of Appraisers announced that it will begin an education initiative aimed at helping teach personal property appraisals. Read on for the details of the opportunities.
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