Texas Fee Survey Unpacked by David Brauner, Editor The most recent appraisal industry survey reveals interesting results, mainly because both appraisers and appraisal management companies (AMCs) participated. The Texas Appraisers and Appraisal Management Company Survey, as the title suggests, sampled appraisers and AMCs in Texas only. Despite this limitation, certain survey results will be of...…
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Jim Park, Executive Director of the Appraisal Subcommittee (ASC), has valuable information for appraisers regarding their professional information posted publically on the National Registry of Appraisers and more.
Last year, when Park spoke at the Valuation Expo in San Antonio, many appraisers wondered why the “complaint hotline,” established under Dodd-Frank nearly three years ago, was taking…
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Editor’s Note: Appraisers are well aware that their professional feet are held to the fire regarding USPAP: to know it, understand it and follow it. So what happens when a lender decides they don’t agree with the document and punishes an appraiser for only trying to abide by its guidance? So far, not much. Chase…
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View Comments sent to the Federal Reserve Board regarding the interim final rule http://www.federalreserve.gov/generalinfo/foia/index.cfm?doc_id=R%2D1394&doc_ver=1 Click to view the Dodd-Frank Act Click to view the IFR View the IFR on appraisal independence: http://www.federalreserve.gov/newsevents/press/bcreg/20101018a.htm
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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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According to appraiser David Smith, AMCs just need to be told to do their job.
“When an AMC receives a request from a lender for more information, BANG, it is immediately forwarded to the appraiser for correction without the AMC reviewing the legitimacy of the lender’s request,” says Smith (not his real name). “I often wonder…
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