Legal Archive

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

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

State Appraisal Appointment May Violate Law

Mitch Weiss, author of a previous news article which details the failures of the appraisal regulatory structure, has written a second article questioning the appointment of a Real-estate attorney to the North Carolina Appraisal Board. According to the article:...
September 23, 2008

The Value of this Bailout

————————————————————– My Plan: If the U.S. Government is going to spend taxpayer money to buy homes from banks, (and that’s essentially what this bailout is) then it would be nice if they got a new appraisal for each those...
September 23, 2008

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

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

Is it time to push back?

With the recent carnage on Wall Street, one has to ask, is it time to push back? For the past decade or more we have watched as the mortgage industry has become more streamlined. We have come up with...
September 17, 2008

Appraisal Foundation President expects Announcement on the HVCC Soon

Appraisal Foundation President, Dave Bunton, said he expects the parties involved with the Cuomo Agreement to make an announcement about the Home Valuation Code of Conduct within the next 30 days. Mr. Bunton went on to say that despite...
September 17, 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