data

Appraisers: Doing the Bump

Appraisers: Doing the Bump “Bump Logic” and Why It’s in Your Future This is why you may be doing the “bump” in the near future, even if you don’t dance. “Bump Logic,” as explained at the recent Predictive Methods Conference (hosted by Veros Software), is the process of selecting the appropriate valuation method for a… Read More

FNC-Appraiser Firestorm (Again)

FNC, Inc. is once again at the center of a firestorm in the appraisal world– this time over a user agreement that appraisers fear signs away their E&O insurance coverage. Appraisers are required to authorize the agreement if they want to continue working with many of the nation’s largest lenders via AppraisalPort. While the agreement… Read More

Altered Appraisal Reports

Now you see it, now you don’t: that’s what appraisers are saying about data that is disappearing or changing after a report leaves their desktop. Here’s what is happening and why, according to appraisers, vendors and other industry insiders. A certified appraiser, who wishes to remain anonymous fearing blacklisting, recently contacted her errors and omissions insurance… Read More

What’s in Your Workfile?

Your workfile is just as important as your appraisal report. Just ask any lender, appraisal management company, client, or worse, your state’s investigator. The workfile is the backbone of your report. It supports everything in your appraisal report. Your workfile for an appraisal of a single family residence or a condominium unit should contain a minimum… Read More

How Appraisers Measure

As appraisers and review appraisers, some of us have seen fellow appraisers relying on building area size data from leases, the local assessor’s offices, property managers, developers, blueprints, etc. The whole key and foundation for an accurate appraisal is calculating the measurements and quantities correctly. Outlined below are a few examples of when problems may… Read More