This article is about common mistakes in appraisal reports, whether the appraisal is for a mortgage transaction or other intended use. Most mistakes are not violations of USPAP but errors caused by a lack of common sense, trying to satisfy a client or not following Fannie Mae guidelines.
After reviewing countless appraisal reports, I noticed a…
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As I approach my 10th year in business I am still learning about homes and perfecting my trade. Our clients expect a perfect inspection that will catch 100 percent of the issues. However, few are willing to spend the time or money such an exhaustive inspection would require.
Agents wouldn’t support it because a multi-day inspection…
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Most of us consider ourselves to be technically astute when in the field performing inspections. We spend many hours each year learning through continuing education classes and meetings. But how often do we think about managing our risk each day? When is the last time you updated your contract? Do you think about…
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Editor’s Note: In this opinion piece, appraiser Andy Anderson expresses what many of his colleagues are thinking about the upcoming UMDP requirements. UMDP/UAD: Road to Ruin? By Andy Anderson The Uniform Mortgage Data Program (UMDP) is mandated by Fannie Mae and Freddie Mac (GSEs) under the direction of their federal regulator, the Federal Housing Finance…
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Editor’s Note: What seems to bother appraisers most these days, even more than low fees, are what they consider to be "unnecessary" challenges to their reports by AMC staff who, in many instances, appear to be less than qualified.
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