Gold Star & Bad & Ugly AMCs and Lenders
Gold Star Lenders and AMCs The following lists were compiled from the survey taken on AMCs by AAREA. The list is from appraisers and AAREA is making no comment, just reporting. The criteria for Gold...
View ArticleThe Folly of the $200 Appraisal
$200 Appraisals – Poor Business Decisions for the Appraiser AND Lender by Joanna Condé, President of the Arizona Association of Real Estate Appraisers A Bad Business Decision for Appraisers As many of...
View ArticleCoAA Opposes Appraisers – Sides with Bankers at Stakeholders’ Meeting on...
Ann Susko, representing Coalition of Arizona Appraisers (CoAA ) at the February 1, 2012 stakeholders’ meeting, called by Rep. Nancy McLain to discuss proposed appraisal legislation, issued a prepared...
View ArticleUrge your Representative to Vote for HB 2778 Appraisal Legislation
Most of What Appraisers Wanted IS in the Bill – HB 2778 The link to the full bill is below in the Links section. Here is a quick summary: What is in the bill and what it means to you if it passes: 1....
View ArticleDisclosure of Appraisal Fees to Start in August in Arizona
Text of law: 32-3673 Disclosure of fees The appraiser shall disclose the fee paid for an appraisal report ordered by an appraisal management company in the scope of work section in the appraisal...
View ArticleShould You Remove Positive Time Adjustments?
Question: I have a client that has asked me to remove all positive time adjustments. Can I do that without violating USPAP? Can the client ask me to do this? I am afraid if I don’t, I will not get...
View ArticleResidential Appraising An Art as Well as a Science
Appraising is an art as well as a science. Appraisers in other areas of Arizona often think that we, who appraise in Phoenix, have it easy. But that is not true, there are challenges here also as there...
View ArticleStates Coalition Letter to FHFA regarding Fannie Mae’s Appraiser “Blacklist”
Fannie Mae’s new “Appraiser Quality Monitoring” initiative that creates an appraiser “do not use list” or “blacklist” has alarmed many working appraisers, especially since at least a portion of the...
View ArticleWARNING!!! Appraisals are Going Public!
An AAREA member sent me an MLS listing where one of the documents was an entire appraisal including the invoice. Once the appraisal is handed to a borrower, it is theirs to do with what they want...
View ArticleThe Proposed 2016-2017 USPAP Would Impact You!
This is directed at commercial appraisers and appraisers that are involved in litigation, those appraisers who might use DRAFT APPRAISALS with their clients. It concerns the Second Exposure Draft of...
View ArticleAppraisals Posted on the Internet Violate Federal Copyright Law
Appraisals Posted on the MLS Violate Federal Copyright Law if they are posted without the express permission of the Appraiser. AAREA has done its homework. We have found case law that verifies that...
View ArticleThe Appraisal Profession & Appraiser’s Business Decimated by the Increasing...
For the past two months, VaCAP has participated in a networked council consisting of 13 professional state appraisal organizations in responding to the Agencies request for comments of the Proposed...
View ArticleThe Real, Very Real, Economic Threat to Appraisers
July 25, 2014, the immunity clause and HB2339 will go into effect. Already there have been serious results that will impact appraisers in the future. To bring you up to date: House Bill 2339 was...
View ArticleHistoric Meeting of State Appraiser Organizations
Representatives of several independent state professional appraiser organizations met in Chicago, Illinois on Saturday October 11th, to further discuss collaboration on issues affecting their...
View ArticleBeware: Don’t Get Trapped Into Doing These Reviews!
Beware The New Reviews!!! Several appraisers have sent review forms to AAREA that were sent to them to complete for $50 to $150. These forms are quicky reviews so that the lender/AMC can meet the...
View ArticleNetwork of State Appraisal Orgainzation’s letter to FHFA Director Watt...
For over the past couple of months, VaCAP has participated with 18 other State Appraiser Coalitions in drafting an unified response to Fannie Mae’s Collateral Underwriter Program. Their letter to FHFA...
View ArticleCollateral Underwriter Starts Today – Don’t Panic!
Fannie Mae’s new “tool” for lenders is the Collateral Underwriter (CU). This is a review program available to lenders so that they can compare the work of an appraiser on a property to other work the...
View ArticleFHA Appraisers Increased Liability with New Requirements
Excerpt New FHA Requirements Put More Responsibility and More Liability on FHA Appraisers After reviewing the new HUD handbook, my overall conclusion is that there were not many changes to the overall...
View ArticleSeparating Appraisal Fees from AMC Fees
On July 1, 2015, the Network of State Appraiser Organizations (NSAO) submitted a joint letter in response to the CFPB request for comments on the proposed amendment to the “Know Before You Owe”...
View ArticleFHA vs USPAP – Appraisers Caught in Catch 22
Excerpt The new FHA Handbook will become effective on September 14, 2015. There has been much discussion of the implications of changing “should” to “must” in thousands of examples in the Handbook. As...
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