What is My Home Worth?

In May, we told you about our personal experience getting our home appraised.  Well, the appraiser arrived as scheduled and completed his job in accordance with all the standards and ethics required by an appraiser (as far as we...

Appraisal Foundation in Dispute with Appraisal Institute

Word has been spreading around the campfire for some time about a dispute between the Appraisal Institute (AI) and the Appraisal Foundation.  The dispute came to a head on June 15, 2010, when the Appraisal Foundation held a special...

House Offer Includes Sunset of HVCC

In an announcement yesterday, Chairman Frank released the House Offer on the financial reform overhaul bill.  Language in the offer includes consumer protection, risk retention, mortgage reform and anti-predatory lending. The proposed amendment for Title XIV includes the provision...
June 22, 2010

Center for Realtor Technology Releases Appraisal Dashboard

NAR’s Center for Realtor Technology (CRT) recently released an Appraisal Dashboard.  CRT takes ideas that come from the field and tries to make useful technology applications from those ideas.  The CRT blog indicates that this tool came from an...

Cuomo Suit Allowed to Move Forward

Yesterday, Reuters reported that the New York State Attorney General’s Office (NY AG) may proceed with its case against First American.  You may recall that First American’s appraisal management company (AMC), eAppraiseIT was accused of “having ‘caved’ to pressure...

APB Members Named

In a press release today The Appraisal Foundation announced the members of the newly created Appraisal Practices Board (APB).  According to the Foundation, the APB “is responsible for issuing Valuation Recognized Methods and Techniques which are intended to provide...
June 1, 2010

Take the $10,000 Challenge

No, this offer is not for appraisers.  This offer is for lenders interested in working with the ironically-named appraisal management company (AMC) InHouse. InHouse is the best AMC in the industry – just ask them, they’ll tell you.  “InHouse...

FHFA, GSEs Unveil Uniform Mortgage Data Program

Yesterday, the Federal Housing Finance Agency (FHFA) announced a new initiative by the government sponsored enterprises (GSE) Fannie Mae and Freddie Mac.  The Uniform Mortgage Data Program is a joint effort to create uniform data standards and collection processes. ...
May 25, 2010

FHFA Kills IVPI, Announces Complaint Process

In a letter to New York Attorney General Andrew Cuomo, the Federal Housing Finance Agency’s (FHFA) Interim Director, Ed DeMarco, announced that the Independent Valuation Protection Institute (IVPI) will not be implemented by Fannie Mae and Freddie mac.  The...

A Personal Appraisal Experience

Just a brief note to share a recent experience with the appraisal process.  We are going through a full documentation refinance that requires an appraisal. First, the appraiser contacts us to schedule the appointment.  During the call he asks...