Industry 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

Who Serves Whom?

Blog about NAR and the Appraisal Institute coming away from the table without an agreement and what members want and need from both organizations. ...
November 10, 2008

Pressure to Approve Loans Ruined WaMu

There is a great article in the New York Times about how pressure to approve loans helped bring down Washington Mutual: MS. COOPER started at WaMu in 2003 and lasted three and a half years. At first, she was...

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

“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

New Housing Law will require new FHA Appraisal

From Appraiser News Online: Participants in the new HOPE for Homeowners program, legislation that will provide mortgage assistance to homeowners at risk of foreclosure, will be required to obtain a new Federal Housing Administration appraisal on their property. The...
October 13, 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

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

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