Appraisal & Valuation Archive

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

37,000 Real Estate Appraisers in China

Here is a fascinating look at the appraisal profession in China: Since the opening up to the outside world 30 years ago, in particular, the birth of the first real estate appraisers in 1993, the real estate appraisal industry...
October 23, 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

Appraisal Group sues Countrywide for Appraisal Pressure

An appraisal group in Idaho is suing Countrywide (now Bank of America) for intimidating appraisers and pressuring them to generate reports in line with Countrywide’s business objectives. The suit alleged Countrywide used improper appraisal techniques that benefited the lender...
October 17, 2008

“More Disciplined Appraisals”

This is a little inside baseball, but on a conference call this morning, the chief executive of JP Morgan admitted that his company was taking a much closer look at appraisals and home-loans. Ms. Whitney asked Mr. Dimon, who...
October 15, 2008

Appraise Your Appraiser

Here is an interesting Q&A with a professor from the Wharton School of Business, where she discusses the appraisal profession. Why are home appraisals so crucial to the home-buying process? Real estate is the most important asset in terms...
October 8, 2008

Freddie Mac Increasing Appraisal Requirements

From Appraisal Scoop, Freddie Mac is modifying their appraisal requirements. Looks like Freddie is requiring an appraisal update from 60 days of delivery of the mortgage. That used to be 120 days and 60 days on the conversion of...
October 7, 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

Appraisers as Four Horseman of Financial Apocalypse

*sigh* Well, I had hoped that during this real-estate crisis, people would realize that the folks making $300 a transaction are not really the principle parties behind the financial debacle. But sadly, that is not the case. In an...
October 1, 2008

Home Valuation Code of Conduct “start date” will be delayed

The Director of the FHFA, which oversees Fannie and Freddie, says he expects the HVCC to be released shortly. However, the start date of the HVCC will be delayed: Separately, an agreement to reshape the appraisal industry is being...
September 30, 2008