Hot Off the Presses – New USPAP Now Available

The Appraisal Foundation (TAF) announced that the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available. This edition of USPAP will be valid for two years beginning January 1, 2012 through December 31, 2013....
October 14, 2011

EBSA to Re-Propose Definition of Fiduciary Rule

On September 19, 2011, the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) announced it will re-propose it’s rule on the definition of a fiduciary. The rule was proposed to protect business owners who offer retirement plans and...
September 21, 2011

VA Will Not Require UAD Compliance

For those keeping score at home, the US Department of Veterans Affairs (VA) announced that it will not require Uniform Appraisal Dataset (UAD) compliance for appraisal reports on VA backed loans. VA will accept appraisal reports that are in...
September 12, 2011

More FHA Training Coming at You

September 07-08, 2011 – Charlotte, NC. FHA Appraiser and Lender Training. The credit training includes an overview of 203k, 203k Streamline and Energy Efficient Mortgages. In addition we will review recent Mortgagee Letters and discuss general underwriting do’s and...
September 6, 2011

UAD Goes Into Effect on September 1st for GSEs

In recent days there have been rumors and reports that the implementation of the Uniform Appraisal Dataset (UAD) announced by the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, would be delayed. NAR has confirmed that the UAD...
August 26, 2011

FHA Officially Adopts UAR

This week, the Federal Housing Administration (FHA) released Mortgagee Letter 2011-30: The Uniform Appraisal Dataset (UAD) and Appraisal Reporting Forms. The ML states that FHA will adopt UAD and two of the UAD compliant reporting form for all FHA...
August 25, 2011

NAR Calls for Ban on AMC Indemnification Clauses

On August 11, 2011, National Association of REALTORS® (NAR) President Ron Phipps sent a letter to federal regulators calling for a ban on the use of indemnification clauses used by appraisal management companies (AMCs). The letter was sent to...
August 12, 2011

Free Foundation Video on USPAP 2012-13 Changes

The Appraisal Foundation (TAF) released a free video this week previewing the 2012-13 changes to the Uniform Standards of Professional Appraisal Practice (USPAP). The 23 minute video includes: revisions to the definitions of “Client”, “Extraordinary Assumptions”, Hypothetical Condition”, and...
August 11, 2011

FHA to Codify Certified Appraiser Requirement

The US Department of Housing and Urban Development (HUD) unveiled a proposed rule in the Federal Register to ensure the agency’s rules conform with the Housing and Economic Recovery Act (HERA) of 2008. The proposed rule requires that appraisers...

Survey Says…

Each year at this time, REALTOR® magazine, published by NAR, and Remodeling magazine, published by Hanley-Wood, team up to produce the Remodeling Cost vs. Value Report. It provides resale values for popular remodeling projects in 80 U.S. metro markets....