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Defensive Appraising in a Declining Market By John Lifflander, ASA As market conditions continue to decline, appraising has become more difficult and potentially perilous. Consequently, it has never been more imperative for appraisers to prepare reports in a way that will hold up to meticulous scrutiny. Properties that are selling or being refinanced now may...…
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Low E&O Rates & Great Service…and Yes, We Answer the Phone Appraisers/Agents E&O Min. Prem. $483 Inspectors E&O Min. Prem. $1,250 Golden Rule Our mission at OREP is to be the best insurance resource for real estate professionals; to follow the Golden Rule by treating all who contact us for help as we would expect…
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Editor’s Note: Tim Vining, MAI is at it again. Vining is the appraiser who made national news by bringing the first appraisal copyright infringement lawsuit. The case settled in his favor. This time he is taking on AMVs. Read how and why below. “Right on to Tim Vining! Please let him know hard-working appraisers support him.” – Eve…
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Clarifying Copyright (by Someone Who Knows) by Tim Vining, MAI As the appraiser who brought suit in federal court for copyright, I wish to address and clarify some comments made in writing in other appraisal industry publications. Whether you realize it or not, once pen is put to paper the author has copyright protection. In...…
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Editor’s Note: Author Beverly Bayer, SRA says that lenders, fed up with shoddy appraisals, are laying traps for unsuspecting appraisers. Fannie Mae has said as much, indicating that one of goals with the new forms is to make appraisers more accountable for their work. In this story, Bayer exposes several “gotcha” traps designed to snare…
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A Word of Caution: Hold your Tongue by David Brauner Sometimes it is better to count to 10 before speaking or writing in anger: especially if you don’t want to be sued. One appraiser learned the hard way. Recently, an appraiser was planning to fire off a letter to his state banking commission along the...…
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Compliant Appraisers: Creating a Level Playing Field A growing number of appraisers are compelled to turn in colleagues for what, in their judgment, is incompetence and/or fraud. Here is a template of an actual complaint which was heard and acted upon by a state board. Phil Rice, appraising eight years, said he filed this complaint...…
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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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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…
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