Author Archive

Florida Association of Realtors seeks Regulation of AMC’s

From Frank Gregoire’s blog: Thankfully, the Florida Association of Realtors has stepped up to the plate and stated their support of an effort to establish regulations for Appraisal Management Companies. During their January 26, 2009 meeting, the Board of...

Fannie Mae and Freddie Mac to Require Identifiers on Mortgage Applications

From the FHFA: Washington, DC – James B. Lockhart, Director of the Federal Housing Finance Agency, announced today that, effective with mortgage applications taken on or after Jan. 1, 2010, Freddie Mac and Fannie Mae are required to obtain...
January 26, 2009

State Regulatory Clearinghouse

The Appraisal Institute has created a clearinghouse for state appraisal regulations. It’s a website that lists key regulatory issues facing each indivicual state appraisal board. Every state has some type of body that governs appraisers, and their decisions can...
January 22, 2009

Countrywide and Landsafe Sued over Appraisals

From Business Week, a Seattle lawfirm is suing Countrywide and Landsafe claiming they illegally rigged the appraisal process. COUNTRYWIDE SUED Typical of the complaints about appraisers’ bubble-era behavior are those spelled out in a lawsuit filed on Jan. 12...
January 20, 2009

Appraisal Foundation to Review Graduate Degree Programs

The Appraisal Foundation is establishing a program to review Graduate Real Estate Degree Programs. This is primarily for the purpose of allowing these Universities to offer their Graduate students appraisal credentials. According to the Appraisal Foundation’s Press Release: This...
January 13, 2009

Appraisal Fees Matter

From the Washington Post, an article discussing the negative ramifications of AMC’s offering low appraisal fees: But some prominent appraisers are scathing in their criticism of management firms. “Their quality is terrible — all they want you to do...
January 12, 2009

Appraisers Not Happy with HVCC

From Ken Harney’s weekly real-estate column: Well, you might ask: Since appraisers in the past have often complained about pressure from loan brokers and realty agents to “hit the number” — that is, turn in valuations high enough to...
January 7, 2009

Questions about the Home Valuation Code of Conduct

I recently read through the comment section of the Revised HVCC blog post, and one of the comments in particular jumped out at me. It asked some very good questions and made some poignant comments. I thought I would...
January 2, 2009

Home Valuation Code of Conduct (Revised Version)

A revised version of the Home Valuation Code of Conduct, an agreement between New York Attorney General Andrew Cuomo and Fannie Mae and Freddie Mac, has been released. The Agreement will be effective May 1, 2009. Here is a...
December 23, 2008

State Law Regarding the Use of BPO’s

The Appraisal Institute has released a document listing the applicable laws regarding Broker Price Opinions. The list covers every state and breaks the states into three general categories: Unlimited Authority, Limited Authority and Broad Authority. Here is a link...
December 23, 2008