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Industry to CFPB: Separate AMC fees on forms
Posted Date: Wednesday, July 8, 2015
Loud and clear, appraisers and appraisal groups by the hundreds wrote to the Consumer Financial Protection Bureau over the past two weeks. The main topic of discussion was the desire to separate appraisal fees and AMC fees on the new disclosure forms that will be used once the TILA-RESPA Integrated Disclosure rules take effect. Read on to find out what industry leaders had to say.
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How do you handle USPAP’s Competency Rule?
Posted Date: Monday, June 29, 2015
In an effort to help promote the Uniform Standards of Professional Appraisal Practice (USPAP) and dispel common myths about the appraisal profession, Valuation Review has partnered with experts from The Appraisal Foundation to answer your on-the-job questions about appraisal best practices and other commonly misunderstood areas of the appraisal world, such as USPAP guidelines. This edition tackles the Competency Rule and updating an appraisal. Read on to find out the answers to the questions.
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Appraisal Institute seeks input on proposed code of professional ethics
Posted Date: Monday, June 29, 2015
The rules of ethical conduct for appraisers are part of the Appraisal Institute’s Standards of Valuation Practice that took effect in January, and the organization is accepting public comment on its proposed five canons until July 16. Read on to find out what’s in the code and how you can voice your opinion.
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Fannie Mae updates Loan Delivery app
Posted Date: Monday, June 29, 2015
The GSE said the updated application will provide lenders with “new and enhanced functionality, greater transparency and improved edit management capabilities.” Read on for the changes and when they take effect.
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LoanLogics acquires AMC technology developer’s assets
Posted Date: Tuesday, July 7, 2015
LoanLogics recently announced that it acquired the assets of a developer of appraisal management technology for AMCs and lenders. The deal included news about the future of the founder whose company was acquired. Read on for all the details.
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Foundation board releases first advisory on green valuation
Posted Date: Tuesday, July 7, 2015
In an effort to help appraisers with their valuations of green buildings, the Appraisal Practices Board of The Appraisal Foundation adopted the first of three valuation advisories. The project is a joint effort with the U.S. Department of Energy, designed to help educate appraisers on the compliant way to value green buildings. Read on for the details.
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Acquisition expands appraisal solution for commercial industries
Posted Date: Wednesday, July 8, 2015
ExactBid, LLC has acquired a commercial appraiser software company, providing commercial lending industries with a comprehensive solution for commercial real estate and appraisal management. How will the combination make things better for those in the commercial real estate industry? Read on for details.
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Golf course valuation creates beef in the bayou
Posted Date: Wednesday, July 8, 2015
A tax dispute arising from a 2012 valuation of a professional-level golf course in Louisiana has taken an interesting twist in recent weeks, with local government officials pointing fingers at each other for an alleged overvaluation of the property.
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Standards’ alignment gets RICS endorsement
Posted Date: Wednesday, July 8, 2015
The work being done by The Appraisal Foundation and the International Valuation Standards Council to unify appraisal standards has at least one major public supporter. Read on to see which international group is behind the efforts and why it believes the alignment can help companies across the globe.
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Report finds ‘new normal’ in mortgage fraud
Posted Date: Tuesday, July 7, 2015
Although mortgage fraud overall is on the decline, certain types of fraud seem to be sidestepping the heightened regulatory environment, according to Interthinx’s 2014 Annual Mortgage Fraud Risk Report. Read on to find out where valuation fraud fits among the serious risks.
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Mortgage lenders feeling optimistic for housing in 2015
Posted Date: Wednesday, July 8, 2015
Mortgage lenders remain positive regarding purchase mortgage demand, according to Fannie Mae’s 2015 Mortgage Lender Sentiment Survey. How does that make them feel about profits for the next quarter? Read on for the details.
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California court provides guidance on conducting insurance loss appraisals
Posted Date: Wednesday, July 8, 2015
A California court last month issued guidance on how to resolve property insurance claim disputes when the insurer and insured do not agree on the scope of the loss. The guidance was couched in the court’s ruling in a case in which an apartment building owner and his insurance company disputed fire-loss damage values to the building. Read on to find out how the trial court made a mistake in directing an appraisal panel to assign loss values to items without regard to whether they actually were damaged, and for an attorney’s analysis of what this means for California appraisers.
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Massachusetts bills would impact property values
Posted Date: Tuesday, July 7, 2015
State senators in Massachusetts are weighing two bills that impact home values — and the measures have raised the ire of the Massachusetts Association of Realtors, which testified in opposition of the bills last week. Read on to find out by the association objects to the bills.
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AMC provides appraisers with background check solution
Posted Date: Tuesday, July 7, 2015
Appraisal management company Nations Valuation Services (NVS) has tapped third-party risk-management solution provider Comergence to perform background checks and ongoing compliance monitoring of its field appraisers. Read on to find out how the solution will help both the AMC and its field appraisers.
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Real-estate appraisers finding happy medium
Posted Date: Friday, July 10, 2015
Financial reforms are hoping to maintain its effort to prevent banks and other interested parties from pressuring the real-estate appraisers to inflate valuations following the housing bust.
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Survey shows QM dominated 2014 mortgage market
Posted Date: Monday, June 29, 2015
A recent survey shows nearly all of a typical bank’s mortgage loans in 2014 were Qualified Mortgages (QM). Most respondents said following those QM rules have restricted credit availability. Read on for more details from the survey.
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Disparate impact survives in Supreme Court ruling
Posted Date: Monday, June 29, 2015
In a ruling issued June 25 the U.S. Supreme Court held that disparate-impact theory can be applied in discrimination cases under the Fair Housing Act. Read on for the details of the ruling and what it means for the housing industry.
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Kansas county appraiser appeals termination
Posted Date: Monday, June 29, 2015
A district court in Kansas recently issued a decision in an appeal filed by a county appraiser who alleged he was wrongfully terminated by county commissioners for failing or neglecting to perform the duties of his office. What was the appraiser accused of, and what did the court decide? Read on to find out.
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