Identity Theft – Appraiser Style The best advice comes from an FBI agent, though unfortunately for one appraiser, it came a little too late. That advice is: Be very careful who you work with and never give anyone authority to use your electronic signature. Here’s why. Billy G., we will call him while the investigation...…
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Editor’s Note: Many appraisers and inspectors see red when their insurance company settles a claim they feel is frivolous. Here’s the story of one inspector who had his day in court – and won. Having Your Day in Court: And Winning! By Todd F. Stevens A few months ago I defended a home inspector in...…
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Appraisers and Mold – Responsibility, Competency and Liability By Doug Smith, IFAS The mold issue is a developing story and one that is gaining momentum everyday. When it comes to mold, there are three important areas appraisers need to consider. First, due to the dangerous nature of some molds, appraisers must take their responsibilities seriously...…
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FHA Liability: A Case Study Editor’s Note: When the FHA increased responsibilities for appraisers a few years ago – making their duties more like a home inspector’s, many predicted increased liability exposure for appraisers and a flood of lawsuits. This is one appraiser’s story. As it takes a few years for problems to surface and...…
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Consent Orders: Signing Away Your Rights? By Diana Jacob, MSA These days, appraisers facing a disciplinary complaint from their state board are often presented with several options to clear the case. Be careful how you choose – the consequences can be long term and unpleasant. Once a complaint is filed, state appraisal boards typically review...…
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Understanding Arbitration Douglas A. Glass, Esq. & Kris P. Thompson, Esq. It’s mid-afternoon on a typical Thursday. There is a knock at your office door. You are not expecting anyone so you are slightly surprised as you walk to the door and open it. A young man stands in front of you, somewhat out of...…
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Question: I have been performing a lot of exterior drive-by appraisals for REOs and pre-foreclosure purposes. The intended use is not for any type of financial transaction but for estimating market value purposes only. What is the level of risk for these types of appraisals compared to purchases and refis? Typically these appraisals are for…
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FNC, Inc. is once again at the center of a firestorm in the appraisal world– this time over a user agreement that appraisers fear signs away their E&O insurance coverage. Appraisers are required to authorize the agreement if they want to continue working with many of the nation’s largest lenders via AppraisalPort. While the agreement…
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Now you see it, now you don’t: that’s what appraisers are saying about data that is disappearing or changing after a report leaves their desktop. Here’s what is happening and why, according to appraisers, vendors and other industry insiders.
A certified appraiser, who wishes to remain anonymous fearing blacklisting, recently contacted her errors and omissions insurance…
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Editor’s Note: In this installment of Valuation Issues and Answers, John Lifflander, ASA discusses how to avoid problems in the new world of bailouts, tax credits and, as he points out, business as usual. Liability Landmines– Appraisers Beware By John Lifflander, ASA The current economic crisis was largely precipitated by loose credit and loose lending...…
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