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8/1/2010 12:00 AM

In a recent Fannie Mae Selling Guide update – the GSE addressed this issue of lenders who have been reducing opinions of market value:

More job losses in the mortgage industry

8/1/2010 12:00 AM

MortgageOrb.com just released this article http://ht.ly/2aIrJ indicating that Wells Fargo will be closing its financial stores and exiting the non-prime lending arena.

What is most striking is not the lack of loans offered (since less than 2% of loans were originated in the Wells Fargo Stores) - but ra...Read More

Appraisers Must Be Competent?

8/1/2010 12:00 AM

A recent article from Mortgage Orb referenced the latest Fannie Mae letter to lenders, stating that

"appraisers must have the "requisite knowledge" to perform a professional-quality appraisal for the spec...Read More

Not everyone moves out

8/1/2010 12:00 AM

I recently appraised a home for foreclosure. It was a really cute house, remodeled with Ikea style cabinets, granite counters, premium light fixtures, etc.

Like many foreclosures in my market, the appliances were removed, many of the custom ceiling fans now gone, and the space over the fireplace was noted to once house a 50+ " plasm...Read More

Are there mortgage brokers still in Florida?

8/1/2010 12:00 AM

I read an article today on the Mortgage Fraud Blog by Rachel Dollar, which detailed how the state of Florida is clamping down on mortgage broker applications in the state - read the whole article here > http://ht.ly/1Zdw1Read More

Just busy enough to fail

8/1/2010 12:00 AM

It struck me once again today.

My workload of appraisal files reaches the end, coming down to the last 2 reports. I am once again thinking, "Ok - tomorrow, I will start my marketing campaign to {INSERT NICHE HERE} to try to shift my workflow into more stable avenues!"...Read More

Appraisals coming in Low? This could be why

8/1/2010 12:00 AM

I read a really interesting article today from www.AppraisalLawBlog.com

You can read the whole article at http...Read More

Walking away: Moral, Ethical, Just Business?

8/1/2010 12:00 AM

This is a great video from CBS' 60 Minutes about the growing trend of people walking away from their home and mortgage, even though they can afford to stay - meaning they have enough income to stay.

Realtors, Is It Too Late For You...Are You Ready For What Is Coming Next?

8/1/2010 12:00 AM

Great commentary! What a well written piece about today's housing market!! This is worth the few minutes to read and listen to the videos!!

Via Tim and Julie Harris (Harris Real Estat...Read More

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Industry Updates:

Here’s What You Need to Know About HR 4173

7/22/2010 2:32 PM

As you surely know by know, the President recently signed into law the Frank-Dodd Wall Street Reform and Consumer Protection Act (HR 4173). Title XIV of the legislation, the Mortgage Reform and Anti-Predatory Lending Act, has significant appraisal reforms addressing appraisal independence, oversight of appraisal management companies, and chan...Read More

FHA Appraisal Training Opportunities Announced

7/15/2010 9:08 AM

From time to time, the Federal Housing Administration (FHA) offers appraisal training in various cities across the country. FHA recently announced two such trainings next month in Denver, CO and Birmingham, AL. The courses are free so if you’re in the area or can get there the registration information is below. You can keep ...Read More

PEMCO Looking for FHA-Approved Appraisers

7/13/2010 3:46 PM

Pacific Engineering Management Company (PEMCO, Ltd) was awarded 5 Housing and Urban Development Asset Manager Contracts representing 26 states across the United States. PEMCO is trying to get the word out that they are accepting Appraiser applications in all of these areas. You can get information on an appraiser for PEMCO at www.hudpemco.com...Read More

Fannie Mae Announcement Addresses Several NAR Appraisal Concerns

7/9/2010 10:18 AM

Fannie Mae’s Selling Guide Updates and Additional Guidance on Appraisal-Related Policies, Announcement SEL-2010-09, addresses many concerns raised by the National Association of Realtors (NAR) regarding the Home Valuation Code of Conduct (HVCC) and the appraisal policies of the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac....Read More

What is My Home Worth?

7/7/2010 3:49 PM

In May, we told you about our personal experience getting our home appraised. Well, the appraiser arrived as scheduled and completed his job in accordance with all the standards and ethics required by an appraiser (as far as we can tell). We lauded his commitment to the job and time spent asking questions before even [......Read More

Appraisal Foundation in Dispute with Appraisal Institute

6/25/2010 3:35 PM

Word has been spreading around the campfire for some time about a dispute between the Appraisal Institute (AI) and the Appraisal Foundation. The dispute came to a head on June 15, 2010, when the Appraisal Foundation held a special meeting of its Executive Committee in Chicago, IL, to consider conduct by AI detrimental to the [......Read More

House Offer Includes Sunset of HVCC

6/22/2010 9:00 AM

In an announcement yesterday, Chairman Frank released the House Offer on the financial reform overhaul bill. Language in the offer includes consumer protection, risk retention, mortgage reform and anti-predatory lending. The proposed amendment for Title XIV includes the provision to sunset the Home Valuation Code of Conduct (HVCC). Below are ...Read More

Center for Realtor Technology Releases Appraisal Dashboard

6/10/2010 3:27 PM

NAR’s Center for Realtor Technology (CRT) recently released an Appraisal Dashboard. CRT takes ideas that come from the field and tries to make useful technology applications from those ideas. The CRT blog indicates that this tool came from an idea that an appraiser had and took to the Minneapolis MLS; their main tech person then [...Read More

Cuomo Suit Allowed to Move Forward

6/9/2010 12:29 PM

Yesterday, Reuters reported that the New York State Attorney General’s Office (NY AG) may proceed with its case against First American. You may recall that First American’s appraisal management company (AMC), eAppraiseIT was accused of “having ‘caved’ to pressure from Washington Mutual to use a list of pre-approv...Read More

APB Members Named

6/1/2010 2:49 PM

In a press release today The Appraisal Foundation announced the members of the newly created Appraisal Practices Board (APB). According to the Foundation, the APB “is responsible for issuing Valuation Recognized Methods and Techniques which are intended to provide support and guidance to those who require knowledge of the approaches t...Read More

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