Editor’s Note: Here is a question (and answer), concerning the proper intended user statement when the form and intended use conflict with one another. Scope of Work: Q&A by David Braun, MAI, SRA Risks of Changing Intended User Statements (Question from Howard Goheen, Phoenix Appraisal Service) “Dear David (Braun)…We’ve worked hard to get up to...…
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How Lenders Think By Calvin Moye, SRA, GRI This is first in a series of questions and answers from Calvin Moye, SRA, GRI. The questions in this series come from bankers and examiners seeking Mr. Moye’s expert advice. Moye, an expert in banking practices, explains the importance of the information this way: “Many residential appraisers...…
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Profile: Making $300,000 a Year Appraising by David Brauner, Editor When it comes to success, your parents were right; there’s no substitute for hard work and a positive attitude. Those looking for a secret formula will be frustrated by what appraiser John Ugrotzi says about his own success; when asked how he consistently earns $300,000…
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Appraisers Fighting Back! by David Brauner, Editor The good news this issue is that there is plenty of good news to report on issues important to appraisers: curtailing mortgage fraud, limiting broker price opinions, putting the breaks on data mining of appraisal reports, understanding and combating blacklisting, supporting appraiser independence. The common theme is that…
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Industry News – Volume 17 States Fighting Back Ohio Attorney General Marc Dann has filed a lawsuit against 10 mortgage firms under the state’s new predatory lending law. The firms are being accused of influencing appraisers to “puff up” their property appraisals above market value. This has resulted in buyers owing more than the property’s…
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Editor’s Note: The following Q&A with MARI results from its name coming up again and again as the source of complaints against appraisers. The responses are from Merle Sharick, Vice President – National Manager of Business Development, Mortgage Asset Research Institute (MARI), a ChoicePoint company. Mr. Sharick has been at MARI for four years, after...…
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Editor’s Note: You can find the class action, filed by a group of appraisers against FNC, Inc., at the bottom of this page. Federal Suit Alleges Misuse of Appraisers’ Data by FNC by David Brauner, Editor In a federal class action, a group of appraisers from across the country has filed a complaint against FNC,...…
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Reporting and Stopping Mortgage Fraud by David Brauner Like many appraisers, Pamela Crowley is fed up with pressure from lenders to make a deal work. Unlike most, she is doing something about the problem that is working. And not only working for her but for the entire industry- appraisers and lenders. Crowley’s solution is the...…
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Editor’s Note: Appraisers must watch for signs to try to understand market changes. Most are economically fueled, but other factors, such as the desire of families to move away, might be part of the changes as well. Many of the potential signs and factors are covered in this story by Beverly Bayer. Appraising a Deteriorating...…
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Appraising Golf Course Properties Steven R. Smith, MSREA, MAI, SRA We have a high-end appraisal of a home on a golf course to do. There are some things I have learned over the years that I can share with those who are interested in the nuances of determining locational values of golf course properties. Much...…
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