Who Owns the Data? By David Brauner, Editor Here’s a riddle: what do the following have in common: copyrighting appraisals, the Intended User/Intended Use provision in USPAP, Item 21 on the Fannie Mae form, data mining and the FNC lawsuit, automated appraisals (AMVs), and perhaps, the future of appraising? Apparently, they have everything in common....…
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Fannie’s New Forms: Something To Talk About The latest version of the new Fannie Forms are set to go into use soon. These forms for appraising single-family residential and small income-producing properties have some very disturbing and questionable requirements within the certification pages. One of the biggest concerns for appraisers is items #21. If you…
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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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Fannie offers Cert #23 “Fix” By David Brauner, Editor WRE Just days after the new forms took effect and in the midst of widespread confusion and fear among appraisers nationwide regarding their increasing liability and responsibility under the new forms, and especially Cert. #23 (Intended User), Fannie Mae’s Mark Simpson, speaking to appraisers at Valuation...…
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Appraiser Wins Copyright Suit By Tim Vining, MAI I have been in the appraisal business over 25 years and have held the MAI designation for 21 of those years. Over this time my work has been pirated again and again. It took me until 1996 to learn about protection that has existed since 1978. I…
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Ever since the new Fannie Forms hit the light of day, appraisers have had issues with it; particularly Items #21 and #23. Below is clarification from the Appraisal Standards Board of The Appraisal Foundation on Item #23. For one appraiser’s concerns regarding Item #21, please see Something to Talk About: Fannie's New Forms.
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Live and Learn Complaints, Errors, Actions Blue Grass Missteps Larry Disney, Executive Director, Kentucky Real Estate Appraisers Board says that approximately 95 percent of all Kentucky complaints are real property appraisal assignments of one-four unit properties. He says the reasons for complaints vary but the most frequent violations are one of the following. * Not...…
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In order to continue in this profession with a decent income, residential appraisers have to begin looking for additional clients outside of the lending industry.
Non-lending clients are attorneys, accountants, agents, homeowners and insurance companies (for insurable value), among others. Attorneys need appraisals for marital assets for divorces; accountants need appraisals for estate purposes (retrospective market…
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Editor’s Note: In this story, USPAP instructor Bryan Reynolds offers some solid advice on making the best of what can be a difficult situation: dealing with an attorney and going to court.
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