News By Edition

How welcome are technological changes to the appraisal profession?

For Stephen Sousa, executive vice-president of the Boston-based Massachusetts Board of Real Estate Appraisers, not much. He believes lenders are looking at appraisals as “a speed bump in the middle of the turnpike.”

Read on for more of Sousa’s conversation with Valuation Review about the future of appraising.

Valuation Review spoke to Franz Ross and Sergio Lo Presti, a business and real estate appraiser and a regional appraisal firm partner respectively, for their insights on appraisal practices for retail properties.

This has become perhaps the hottest topic in commercial property appraisal, both for financing and for real property assessment.

Read on to find out more of what our panel of experts shared with us.

Peoples Company earlier announced it acquired a share of Value Midwest.

In coming to this agreement, Peoples Company increases their team of expert appraisers with deep agricultural experience, while Value Midwest harnesses Peoples Company’s existing brokerage, land management and investment services.

Read on to learn more about this acquisition.

Churchill Mortgage announced a promotion regarding the position of chief compliance officer. Read on to find out who this individual is, and how this move enhances the company.

Amrock’s motion for a new trial in its legal battle with HouseCanary was denied by the Bexar County, Texas, state court on Jan. 8, upholding its March 2018 verdict in favor of HouseCanary to the tune of a $706.2 million decision.

Valuation Review spoke with Amrock attorney Randy Mastro, who believes the introduction of certain matters would have resulted in a different outcome had the jury been given the opportunity to hear them the first time.

Read on to learn more.

In March 2018, HouseCanary was awarded $706.2 million in damages stemming from a lawsuit filed by Amrock, formerly known as TitleSource.

Amrock’s motion for a new trial in this legal battle with the valuation company was denied by the Bexar County, Texas, state court Jan. 8.

Valuation Review interviewed HouseCanary’s legal representative, Kalpana Srinivasan, co-lead counsel from Susman Godfrey L.L.P., who shared with us her views as to what transpired in this case.

For the third consecutive month, owners think their home is appreciating faster than appraisers do.

This is according to the monthly Quicken Loans Home Price Perception Index.

Read on to find out what the specific numbers are across the country pertaining to what appraisers valued homes for in January.

CoreLogic announced an enhanced title and closing solution.

The product is for lenders incorporated into the industry standard Collateral Management System (CMS).

Read on to learn more.

The appraisal industry knows all too well that advancements in technology are just one of many changes within the profession.

There are other areas appraisers have had to adapt to, such as compliance, regulations and the changes to the requirements necessary to become a certified appraiser.

Valuation Review reached out to Bradford Technologies CEO Jeff Bradford, who shared with us insights from his article, “The Digital Transformation of the Appraisal Industry.”

Tyler Technologies Inc. announced it signed an agreement valued at more than $5 million under which Franklin County, Ohio, will use CLT Appraisal Services for its triennial property appraisal. Read on to learn more about this agreement.

A federal appeals panel has upheld a federal judge’s decision to end a lawsuit accusing Zillow of breaking state consumer fraud laws.

The ruling applied to when the company uses its Zestimates to assign values to homes across the country.

Read on to learn more of what the court had to say about this case.

Pavaso recently announced that Tim M. Anderson has been named senior vice president of business development. Read on to learn more about this appointment.

Property Damage Appraisers has expanded its guaranteed same-day and next-day damage estimates for standard auto claims to more than 200 cities across the United States. Read on to learn more.

Invaluable announced a partnership with Mearto to help private sellers understand the true value of their objects and bring them to auction. Read on to learn more.

Great American Group Advisory & Valuation Services, LLC announced that Jennie Kim has been promoted to managing director of the firm’s appraisal business. Read on to learn more.

Valuation Review continues its conversation with Franz Ross and Sergio Lo Presti.

The real estate appraiser and regional appraisal firm partner offer more advice for appraisers when determining value on retail and other specific property types.

Read Part II of the story for more information.

The Mortgage Bankers Association (MBA), in a letter dated Feb. 5 to the federal financial regulators, outlined its support of the proposed changes to the appraisal threshold for residential real estate transactions, pointing out that appraisals still need to be done to provide the quality of data that automated valuation models or other technology platforms use to help perform evaluations.

The American Society of Appraisers, along with five additional organizations, filed additional comments with federal banking regulators.

The filing urged the agencies to abandon a proposed increase in the residential appraisal threshold from $250,000 to $400,000.

Read on to learn more about what these organizations are saying.

Stewart Title appointed Rich Kuegler to the role of national director of lender sales. In his new role, Kuegler will be responsible for sales and business development strategy for Stewart’s lender channel, amongst other assignments. Read on to learn more.

Texas Premier Mortgage recently launched a Federal Housing Administration loan program for new purchasers and first-time homebuyers, emphasizing the need to find the newest and best mortgage loan products available to the consumer. Read on to learn more.

LendingTree released its study on the best cities for first-time homebuyers, ranking the 50 largest metros in the U.S. by how friendly they are for first-time homebuyers. Read on to find out where the best location is to buy.