Industry Archive

FHA Appraisal Update

HUD has updated the FAQs on appraiser independence stating that the appraisal report cannot be in the name of a broker and allowing the broker to order the appraisal from a AMC (but not multiple AMCs) and allowing a...

Round 2 of the Heavyweight Fight: Calling in the Big Guns

On January, 16, 2009, we brought to you the valuation fight that is appraisals vs. broker price opinions (BPO).  Today we bring you Round 2 – and this time it’s personal.  Well, it’s not really personal but there is...

Does AMC Survey Shed Light on “Propoganda”?

The Maryland-based Coester Appraisal Group recently released its annual survey on appraisal management companies (AMC).  According to AppraisalNEWSCAST.com (the Coester blog), the survey sheds light on industry propaganda.  “After further analysis of the data from the Annual Coester Appraisal...

Freddie Mac AVM to Assist with Appraisal Reviews

Freddie Mac announced that starting February 28, 2010, Home Value Explorer (HVE) will assist lenders in reviewing appraisals.  Loan Prospector will provide a point value estimate for the property address from HVE, which is Freddie’s AVM.  The use of...

Appraisers Hinder ROI on Green Retrofits

Improving the energy efficiency of one’s home is beneficial for a variety of reasons but one may not include improving the home’s value.  Most agree that energy retrofits are good for the environment and save homeowners on utility bills...
February 5, 2010

Appraisals Making it Harder to Refinance or Sell

Today’s Wall Street Journal reports on the impact appraisals are having on the real estate transaction, whether it be a sale or refinance. The article covers all the current hot topics of the appraisal industry: HVCC, AMCs, and appraiser...

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

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 Groups Seek Ban of BPO’s

The Appraisal Groups have written a letter to the FDIC asking them to prohibit the use of Broker Price Opinions in the FDIC’s new Loss Sharing Proposal. In a November 19 letter, the Appraisal Institute strongly urged the Federal...
November 24, 2008

Fannie Mae Institutes new Appraisal Guidelines

Fannie Mae has established new guidelines for filling out an appraisal report. The following requirements and clarifications are included in the guidelines: - Supervisory appraisers can no longer just sign off on an appraisal – they must inspect the...
November 19, 2008