Author Archive

NYC Inflates Land Value of New Yankee Stadium

According to Wednesday’s New York Daily News, aides to Mayor Bloomberg put pressure on city tax assessors to inflate the value of land under the new Yankee Stadium to ensure the team qualified for $1 billion in tax-free bonds....
December 18, 2008

Just When You Think It Can’t Get Worse for Appraisers

Thieves in Ocala, Florida broke into the offices of Grace Appraisal Services stealing only the computers and, of course, the surveillance cameras. Other expensive office equipment was left behind. The computers contained information on appraisal clients JPM Chase Bank,...
December 12, 2008

The Appraisal Foundation – USPAP Q&A

Copyrighting an Appraisal Report Question: Does registration of a copyright on an appraisal report with the U.S. Copyright Office violate the confidentiality provisions of USPAP? Response: The ASB is taking no position as to whether an appraisal report is...
December 9, 2008

Michigan Taking Action on Appraiser Independence

The Appraisal Institute reports that the Michigan state Legislature is considering three bills that address appraiser independence. HB 4054 would make it a misdemeanor for a mortgage lender to apply pressure to an appraiser. S.B. 343 would make it...
December 2, 2008

HVCC Agreement Coming….Eventually

Today the Federal Housing Finance Administration (FHFA) released its 2008 Performance and Accountability Report. The 186 page document had a couple of brief paragraphs on the infamous appraisal agreement between Fannie Mae, Freddie Mac, and the NYS Attorney General...
November 17, 2008

AMC Model Legislation Proposed

Last week the Appraisal Institute announced draft legislation for states to regulate appraisal management companies (AMC). AI worked with the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent...
November 11, 2008

HUD Addressing Appraisal Shortage Soon

HUD is preparing to address the appraiser shortage problem for areas with fewer state-certified appraisers. FHA programs now require state-certified appraisers, including the Hope for Homeowners Program (H4H). As we mentioned previously, FHA business is dramatically increasing and should...
October 20, 2008

Shot Through the Heart

A snapshot of what we learned while attending the 2008 Fall Conference of the Association of Appraiser Regulatory Officials (AARO) here in Washington, DC Pressure on Appraisers: Appraisers will be happy to know that generally lenders have greatly reduced...
October 6, 2008

Do Downpayment Assistance Programs Impact Appraisals?

Everybody is talking, rightfully so, about the big bailout agreement. It’s Main Street vs. Wall Street as some have stated polls showing 80 percent of the public is not in favor of the bailout. If you’re looking for a...
September 28, 2008

Appraising Green Features in Residential Homes

Yesterday, RealtyTimes ran an article about a unique partnership between BP and Shea Homes. The joint initiative, called Victoria Gardens by Shea Homes, is part of the builder’s efforts to reducing the carbon footprint of its homes. The homes...
September 18, 2008