FHA Appraising: Testing Your Knowledge by Lore DeAstra, MBA, SRA, CDEI, ACB In a desperate attempt to recapture market share from FHA, Freddie Mac’s Primary Mortgage Market Survey in June, 2010 was approximately: 4.6 percent for 30-year fixed rate mortgages (FRM); 4 percent for 15-year FRM and 3.8 percent for 5/1-year adjustable rate mortgages. [1]…
Read More
Whether testifying as an expert witness on someone’s behalf or in defense of your own appraisal before a state licensing board or judge, your keys for success are the same.
Depositions
Testimony in a deposition is recorded by a court reporter and is part of the official transcript. It is, therefore, as important as testimony at trial.…
Read More
Like most real estate appraisal boards, Florida’s Board publishes an annual summary of the cases it finalizes against its appraisers. Florida’s Real Estate Appraisal Board (FREAB) does not intend these summaries to be lengthy analyses of “what went wrong” or something law students might study for insight. They are merely summaries of the charges the…
Read More
Editor’s Note: There are good reasons for reporting claims and incidents when they happen. Here is vital information, that even seasoned inspectors may not know, that can save you anxiety, money and maybe even your business. If you’re an appraiser, much of this story pertains to you as well
Read More
My first commandment for appraisers is: Know the truth and let the truth set you free. In this context, it means that you are in control of both the appraisal development and reporting. Therefore, let no person coerce, threaten or influence your objectivity, impartiality, or independence.
After that, and based on my 10 years’ experience as…
Read More
Editor’s Note: With declining values come lawsuits and complaints. Somebody has filed a complaint against you with your state’s appraisal board. Now what do you do? Tim Andersen, MAI gives you some suggestions.
Read More
The new normal for too many appraisers these days is being banished to a “do not use” list by a lender, without any opportunity for rebuttal or even knowing why. Now here’s a new twist: at least one large lender is giving appraisers the chance to rebut a questionable review- the problem is that doing…
Read More
Editor’s Note: You’d be amazed all you don’t know regarding your rights as an appraiser. The following was gleaned from the webinar series: How to Limit Liability, Maintain Independence, and Fight Influence by Richard Hagar, SRA. How Well Do You Know Your Rights? By David Brauner, Editor Here are some questions for you- the answers...…
Read More
Editor’s Note: Author Phil Spool, ASA, represents appraisers, E&O insurance companies and lenders as an expert witness for the prosecution as well as for the defense. In this story, he shares the reason why appraisers get sued. Why Appraisers Get Sued by Philip G Spool, ASA Lawsuits can be divided between those you cannot control...…
Read More
