“Virtual” Debate: What does “Inspection” Mean? Technology may have evolved enough to make “virtual” inspections a reality but do they meet state and other regulatory guidelines? Is it ok for supervising appraisers to use trainees as surrogates to inspect properties? As technology advances, and the use of trainees becomes more widespread, these questions are on...…
Read More
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...…
Read More
Appraiser Wins Copyright Suit By Tim Vining, MAI I have been in the appraisal business over 25 years and have held the MAI designation for 21 of those years. Over this time my work has been pirated again and again. It took me until 1996 to learn about protection that has existed since 1978. I…
Read More
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...…
Read More
Appraiser Wins “AMC-Agent” Judgment Against One-West Bank by Isaac Peck, Associate Editor The appraiser community is still reeling from the decision of a Florida bankruptcy judge to absolve JPMorgan Chase of all liability in the case of Evaluation Solutions/ES Appraisal Services (ESA) bankruptcy case. Over 10,000 real estate appraisers and agent/brokers were left unpaid by…
Read More
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…
Read More
Editor’s Note: This story shows how to avoid inadvertently losing your E&O insurance coverage for past work and being left unprotected, should a claim arise; the consequences to your business and personal life could be disastrous. Cutting Expenses as Business Slows Why Canceling Your E&O Can Really Cost You! by David Brauner, Editor As…
Read More
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…
Read More
Calling all Appraisers: Shut Up and Drive People who spend a significant amount of time in their vehicles may want to rethink the temptation to multitask over the phone while driving. A new study finds that if you conduct professional or personal business over the phone while driving, you may wind up killing more than…
Read More
Editor’s Note: This story first appeared in Working RE’s Online edition. You can catch up on back editions here: WRE Online When Bad things Happen to Good Appraisers by David Brauner, Editor As E&O providers, OREP sees a lot of claims information. Here is the story of one appraiser who may be like some of…
Read More
