Editor’s Note: Here are details on a new “recovery” fund designed for appraisers who are owed money by bankrupt AMCs. AMC “Recovery Fund” for Appraisers First of Its Kind by David Brauner, Editor More than one appraisal management company (AMC) has shuttered its doors owing millions of dollars to appraisers in unpaid fees- now one…
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Editor’s Note: Appraiser Nelson Boswell shows us how to leverage new appraisal independence laws into more business. Making “Appraisal Independence” Work for Your Business by Nelson Boswell, Jr., SRA New federal legislation is leading to greater “appraiser independence” for many, but not in the way legislators intended. Smart appraisers are using the new laws to…
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What I like about writing these articles is the research it takes for accuracy and current terminology. For many years I was taught that accrued depreciation was depreciation from all causes, which consists of physical deterioration, functional obsolescence and external (locational and economic) obsolescence. This term is also used with those who value businesses…
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Editor’s Note: What seems to bother appraisers most these days, even more than low fees, are what they consider to be "unnecessary" challenges to their reports by AMC staff who, in many instances, appear to be less than qualified.
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Most appraisers cringe at the very mention of “marketing.” If you played word association with a group of appraisers using “marketing” as the target, they’d throw out “waste of time,” “snake oil,” “corporate suits,” and so on. They might even suggest some unprintable words and phrases. Very few in the group would say, “The single…
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Lagow was an appraisal manager and assistant vice president at Landsafe, Inc., the appraisal subsidiary of Countrywide, a position which gave him an inside look at the practices which caused the downfall of the largest mortgage lender in America. For his part, Lagow sees Countrywide as being at the heart of both the housing bubble…
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Frustrated with low-ball Appraisal Management Company (AMC) fees, appraisers are digging in, many refusing to work for less, some calling for a national strike to prove their point, but there may be a better way, such as knowing what appraisal services are worth in your market and demanding it. New regulations requiring fair pay for…
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Decrease Time and Liability during the FHA Loan Process By Lore DeAstra, MBA, SRA, CDEI, CTM Over the past year, the United States has encountered one of the most volatile housing markets in history. After the collapse of Fannie Mae and Freddie Mac in 2008, the Federal Housing Administration (FHA)[1] has insured more than 25 percent...…
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Editor’s Note: As we are learning- appraisal reports are being sliced, diced and in some cases, plundered. This new solution promises to secure your reports and preserve your identity.
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Readers Respond AMC Fails, Appraisers Stiffed Push your state’s licensing board to adopt North Carolina’s system which states that an AMC that doesn’t pay for the appraisal within 30 days of the report being submitted (not addendums or requests for more comps), risks losing their N.C. registration. – posted to OREP/WRE Appraiser Talkback Blog This…
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