“Comp Check” Q & A from The Appraisal Foundation Can Appraisers Perform “Comp Check” Assignments? Question: I’m a residential appraiser and have been asked to perform a “comp check” (or “pre-comp”) assignment, where a client wants to get an idea of the value of a home prior to proceeding with a mortgage financing transaction. Does…
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Appraisers & Gramm-Leach-Bliley By Pat Butler Most appraisers have heard of Gramm-Leach-Bliley (Privacy Act) but few understand their obligations under the Act. Appraisers have disclosure obligations under Gramm-Leach-Bliley (GBL) when they are hired directly by a consumer to conduct an appraisal. Compliance means disclosing to the client whether any of their nonpublic personal information will...…
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Editor’s Note: This is an actual claims rebuttal letter sent to opposing counsel, written by a claims adjuster on behalf of an insured. The names have been changed. Disclaimer: This article is written from an insurance perspective and is meant to be used for informational purposes only. It is not the intent of this article…
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The Appraisal Foundation Appoints New National Board The Appraisal Practices Board will be officially constituted July 1, 2010 The purpose of the ABP is to issue voluntary timely guidance to appraisers on emerging valuation issues that are occurring in the marketplace. This guidance will assist appraisers, appraiser regulators and educators. The new Board will enlist…
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Editor’s Note: Appraiser Sean Heath and others test out the new AVM Zillow and caution that while the name may be on everyone’s lips, let the zill-er (consumer) beware. That said, the results are far from black and white. Appraisers Put AVM Zillow to the Test by Sean Heath It seems that the quickest way...…
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Survey Results: How Reasonable are Appraisal Turn Times? (And is Quality Affected?) by David Brauner, Editor As of this writing, 2,455 appraisers have participated in the OREP/Working RE How Reasonable are Appraisal Turn Times? Survey. Find the data below. Appraisers report that turn times are unreasonable much of the time. Further, turn time demands do…
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Customary and Reasonable Fees Survey Results Please click on your state to download the Customary and Reasonable survey results. If the PDF for your state doesn’t open, please make sure you have the latest version of Adobe Reader. Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky…
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Staff from the Federal Reserve Board recently requested survey results from the OREP.org/Working RE Customary and Reasonable Fee Survey, with over 16,500 appraisers participating. Why? Because customary and reasonable fees and other issues related to the Dodd-Frank Financial Reform Legislation are not settled, according to the Federal Reserve, who is tasked with implementing the law-…
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2024 Appraisal Management Company Resource Guide Updated for 2024 – Over 180 Verified AMCs! Save time applying – most entries contain link to online application The First 41 AMCs listed are proven to send work and pay good fees in most areas. Includes 46 NEW AMCs in this edition! Verified AMCs – Apply to the…
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Editor’s Note: Some appraisers are being paid full fees for their appraisal work, even though the orders are coming from AMCs. Here’s how it works. First published in Working RE print, Volume 31. Fee Solution – Cost-Plus AMC Model? by Isaac Peck, Associate Editor Some appraisers are being paid full fees for their appraisal work,...…
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