“If men were virtuous, there would be no need of government at all.” Thomas Jefferson 2006: Cleaning Up the Lending Mess By Stewart Heller The following is a summary of notes taken from the official audio recording of the sworn testimony of a chief appraiser of a major mortgage lender. The chief appraiser appeared before...…
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Bye, Bye ASC? Appraisal Subcommittee Under Fire Is it Time to Start Over? You may already know that late last year the Georgia Appraisal Board, in a letter to Sen. Zell Miller, (D-Ga.), called for broad changes to the appraisal regulatory structure, including sun setting the Appraisal Subcommittee (ASC). What you may not know is...…
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The Market: One veteran says that in 37 years of appraising 2008 was the toughest market he’s ever seen and that 2009 could be worse. Several others, also appraising over 30 plus years of real estate cycles, agree. Their take? If you can make it in these conditions, you can make it.
Professional…
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Would any American go to a football game in a league where the referees are legally allowed to be advocates for one of the teams? Football is only successful if its referees are viewed as being fair and non-advocates. They may miss a few calls, but overall, they are viewed as fair. …
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Turning Tide? Appraiser Independence Legislation * Mortgage Reform and Anti-Predatory Lending Act * CRS report on H.R. 3915 * Explanation of HOEPA loans * H.R. 1852: Expanding American Homeownership Act Still Pending in Congress * The Homeownership Preservation and Protection Act of 2007 * H.R. 1723: Fair FHA Appraisal Act, or visit http://www.opencongress.org/bill/110-h1723/show * H.R.…
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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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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...…
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