The Appraisal Foundation – USPAP Q&A

Copyrighting an Appraisal Report Question: Does registration of a copyright on an appraisal report with the U.S. Copyright Office violate the confidentiality provisions of USPAP? Response: The ASB is taking no position as to whether an appraisal report is...
December 9, 2008

“They would get on the phone and scream at me to inflate values.”

Here’s a nice little article discussing appraisal pressure, from the Virginia Pilot: For several years in the mid-2000s, Fincham said, his company, FM & Associates, did steady business with a Virginia Beach mortgage brokerage but faced escalating pressure to...
December 5, 2008

Michigan Taking Action on Appraiser Independence

The Appraisal Institute reports that the Michigan state Legislature is considering three bills that address appraiser independence. HB 4054 would make it a misdemeanor for a mortgage lender to apply pressure to an appraiser. S.B. 343 would make it...
December 2, 2008

For Thanksgiving: Be Thankful You’re not this Appraiser

Here is a classic story of appraisal fraud out of Vancouver, Washington. Carpenter learned in March 2007 that Dodge had been doing appraisals using Carpenter’s name and license number — even appraisals on commercial and million-dollar properties that Carpenter,...
November 26, 2008

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

HVCC Agreement Coming….Eventually

Today the Federal Housing Finance Administration (FHFA) released its 2008 Performance and Accountability Report. The 186 page document had a couple of brief paragraphs on the infamous appraisal agreement between Fannie Mae, Freddie Mac, and the NYS Attorney General...
November 17, 2008

Appraisal Institute Board Votes Down NAR Affiliation

From the Appraisal Institute website: In a November 6 vote, the Appraisal Institute Board of Directors voted not to pursue affiliation with the National Association of Realtors. The vote, which occurred during the Board’s fall meeting in San Antonio,...
November 12, 2008

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