Fannie offers Cert #23 “Fix” By David Brauner, Editor WRE Just days after the new forms took effect and in the midst of widespread confusion and fear among appraisers nationwide regarding their increasing liability and responsibility under the new forms, and especially Cert. #23 (Intended User), Fannie Mae’s Mark Simpson, speaking to appraisers at Valuation...…
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Editor’s Note: Kevin Barnes severed five years on mortgage fraud charges and now speaks to the industry on risk management and fraud issues. Inside Mortgage Fraud (Way Inside) By Kevin Barnes I want to start by sharing a little background about what I’ve done and the consequences. I started off in the mortgage industry as...…
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S.2452 is a bill intended to “amend the Truth in Lending Act to provide protection to consumers with respect to certain high-cost loans, and for other purposes.” Among other things, it’s intended to establish a duty for mortgage brokers and lenders to consider the best interests of their clients first. Lenders will be required to…
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Question: Mr. Spool: I read your article (How to Increase Residential Appraisal Income) and it was very informative. I have been marketing to agents but your article gave me the great idea to offer free classes as another marketing tool. I was wondering if you could share information as to what your classes entail. I…
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Getting Out: Why I’m Leaving Residential Appraising A sometime contributor to WRE, appraiser Mike Read, sends us this letter: I used to love appraising. Long before there was any appraiser regulation my clients came to me for valuation opinions because of my years of experience in real estate and their recognition of my accurate and...…
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A successful merger takes time and money to put into motion. Six to 12 months is the norm. And when you start paying lawyers, accountants and facilitators, it can be quite expensive. Accordingly, there must be commitment.
The larger the number of participants, the more complicated the process becomes. You will require a good accountant, lawyer,…
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An alarming precedent has just been set for real estate appraisers in the bankruptcy case of Evaluation Solutions/ES Appraisal Services (ESA). Despite numerous objections from appraisers and agent/brokers alike, a Florida bankruptcy judge has ruled in favor of JPMorgan Chase in granting a Bar Order which absolves Chase of any liability on future claims from…
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Growing Web Business: Converting Visitors to Customers by Nick Gromicko A home inspector’s website should have only one goal; to convert visitors to customers. Here’s how it’s done. A home inspector’s website is not a newspaper, television, magazine or building. Unlike most websites it should not serve multiple purposes. Don’t give your visitor any freedom to find anything but...…
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Ever since the new Fannie Forms hit the light of day, appraisers have had issues with it; particularly Items #21 and #23. Below is clarification from the Appraisal Standards Board of The Appraisal Foundation on Item #23. For one appraiser’s concerns regarding Item #21, please see Something to Talk About: Fannie's New Forms.
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Before I started AppraiserDepot.com, I owned my own appraisal shop in Oklahoma City . Like many of you, the one part of the business that I struggled with was advertising. Since I didn't have a marketing background, I had trouble coming up with creative ideas that made me stand out from my competition.
After brainstorming for…
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