Editor’s note: Determining what is or is not a “stable” market in these turbulent times is confusing for some. Appraisers report having appraisals rejected because the “Declining Market” box is checked on the Fannie Form. Others say they would be admonished for not indicating a declining condition. As always, the best advice is to be...…
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Editor’s Note: An OREP member recently walked into our (San Diego, Calif.) office to renew his E&O insurance in person. We are always glad to meet our members. During our chat, he said he now does only REO work and is plenty busy. Ann O’Rourke explains that if foreclosures are up where you live, your...…
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Editor’s Note: The following is excerpted from Get more Appraisal Jobs in Any Market, a marketing book provided free to all appraisers by a la mode software. You can download the PDF at http://www.alamode.com/appraisermarketing. Get More Appraisal Jobs in Any Market Start with what you already have- your lists. 1. Get the list of all...…
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Who Owns the Data? By David Brauner, Editor Here’s a riddle: what do the following have in common: copyrighting appraisals, the Intended User/Intended Use provision in USPAP, Item 21 on the Fannie Mae form, data mining and the FNC lawsuit, automated appraisals (AMVs), and perhaps, the future of appraising? Apparently, they have everything in common....…
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Fannie’s New Forms: Something To Talk About The latest version of the new Fannie Forms are set to go into use soon. These forms for appraising single-family residential and small income-producing properties have some very disturbing and questionable requirements within the certification pages. One of the biggest concerns for appraisers is items #21. If you…
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Editor’s Note: In the wake of these turbulent times, the tide is turning for appraisers. Lenders and regulators finally seem to understand the necessity for accurate and independent appraisals; lenders and Wall Street are demanding valuation accuracy, and as we see in this story, regulators nationwide have proposed and/or passed a flood of legislation to...…
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Moving out of Residential Lending Work By David Brauner, Editor Cheryl Kunzler, SRA, began transitioning out of residential loan work two years ago for the usual reasons: she was fed up with lender pressure to hit values and to meet turn times that do not permit thorough reporting. What she feels after making the leap,…
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Editor’s Note: In our cover story last issue, “AVM Tango! Man or Machine?” we reported that as a result of our AVM questions, Appraisal Standards Board (ASB) Chair Greg Accetta indicated further clarification would be forthcoming. Here is a statement issued by the Appraisal Foundation in June 2007 (www.appraisalfoundation.org). Are AVMs Appraisals? Appraisal Standards Board...…
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Editor’s Note: Here is a question (and answer), concerning the proper intended user statement when the form and intended use conflict with one another. Scope of Work: Q&A by David Braun, MAI, SRA Risks of Changing Intended User Statements (Question from Howard Goheen, Phoenix Appraisal Service) “Dear David (Braun)…We’ve worked hard to get up to...…
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How Lenders Think By Calvin Moye, SRA, GRI This is first in a series of questions and answers from Calvin Moye, SRA, GRI. The questions in this series come from bankers and examiners seeking Mr. Moye’s expert advice. Moye, an expert in banking practices, explains the importance of the information this way: “Many residential appraisers...…
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