Appraisal & Valuation Archive

Subprime Lender Becomes AMC

Here is a fascinating article from Business Week, revealing how a former Subprime Lender went bust and then transformed itself into an AMC: Take NovaStar Financial (NFI) in Kansas City, Mo. A large subprime lender during the housing boom,...
February 9, 2009

Reader Comment on AMC’s

I just thought I would highlight this particularly well written comment from Howard Ginsburg: An appraiser gets paid $350 – $450 for a 1004 no matter what the loan amount is or the value of the property. The broker,...
February 4, 2009

USPAP Q&A – January 2009

The USPAP Q&A is posted each month on The Appraisal Foundation website. Now, on to the questions… Communicating Confidential Information to a Sworn Peace Officer Question: I was contacted by a sworn peace officer who simply requested the workfile...
January 28, 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

Heavyweight Fight

In this corner it’s the linchpin of the mortgage transaction, relied on for the most accurate valuation of residential real estate – the appraisal. In the opposite corner is the challenger, known for accurate market values and generally more...
January 16, 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

USPAP Q&A – December 2008

The USPAP Q&A is posted each month on The Appraisal Foundation website. Now, on to the questions… Current Sales Contract Not Provided Question: I am an appraiser with several bank clients that do not provide a copy of the...
December 31, 2008