Author Archive

Four States Pass Appraisal Independence Legislation

In 2008, Connecticut, Kentucky, Missouri, and New York all passed new laws prohibiting appraisal pressure. Here is a quick summary of each state’s legislation. Connecticut – Prohibits mortgage brokers, real estate brokers, and real estate salespersons from attempting to...
September 22, 2008

If you outlaw Appraisal Management Companies, then only outlaws will have Appraisal Management Companies.

In reading through the comments on this post about Congresswoman Biggert’s (R-ILL) promotion of appraisal independence, it is clear that appraisers have a lot of problems with Appraisal Management Companies (AMC’s). Coincidentally, yesterday I was reading though a 2006...
September 19, 2008

Congresswoman Biggert promotes Appraisal Independence

In her Op-Ed piece for The Hill newspaper, Congresswoman Judy Biggert (R-ILL) argues for housing reform, including greater support for key appraisal legislation. Additionally, Congress must address the shortcomings of the home-buying process that have contributed to the rapid...
September 16, 2008

Facebook for Appraisers

For those of you who want the social interaction of Facebook without all the poking, status updates, and lame pictures of high-school friends, Appraisal Scoop has the answer. It’s called: The Appraiser’s WaterCooler This is a social networking forum...
September 12, 2008

Are Lenders Abandoning AMC’s?

In most of my discussions with appraisers who hate the HVCC, the conversation inevitably moves to AMC’s. They believe that the HVCC will push lenders to use AMC’s when hiring appraisers. This is something many appraisers find reprehensible, as...
September 11, 2008

NAR Responds to Fannie Freddie Conservatorship

Here is NAR’s Official Response to the Fannie Freddie Conservatorship: Q. What does this mean for Realtors and homebuyers? A. Through its actions, the federal government has sent a clear signal that the mission of the GSEs to provide...
September 10, 2008

What Happens Now with the HVCC?

Given that the Federal Government has recently placed Fannie and Freddie in Conservatorship, many appraisers are wondering what impact this will have on the Home Valuation Code of Conduct. My guess is that this recent take-over will either kill...
September 10, 2008

Take A Load Off Fannie

Because Everyone Hates a Bailout:...
September 8, 2008

Cuomo’s Home Vaulation Code of Conduct Hits a Roadblock

The blog Appraisal Scoop has linked to a Press Release from the Federal Register which states that there is a new Federal Agency in charge of overseeing Fannie Mae and Freddie Mac, The Federal Housing Finance Agency. FHFA was...
September 5, 2008

Fighting to Keep Your Reputation

Jonathan Miller shares a story in his blog about how important it is to maintain your reputation as an appraiser. Recently, a local NYC blog misquoted Miller and claimed he offered a property value to a reporter. Upset, Miller...
September 4, 2008