Appraiser Tony Bamert, Bamert & Associates, Champaign, IL, feels he’s been asked to assume some new and unwanted responsibilities on recent appraisal orders and wonders if his are isolated concerns or issues other appraisers are grappling with as well.
“Traditionally, with any conventional appraisal, I’m not asked to touch the mechanical systems in a home in…
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FHA appraiser William R. Pruett, SRA has a problem that we're sure you can relate to.
Pruett, appraising 12 years, five in West Des Moines, Iowa, knows what a "customary and reasonable" fee is for an FHA 1040 in his market and so does everyone else, he says, except the large national bank and its in-house…
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FHA Appraising: Testing Your Knowledge by Lore DeAstra, MBA, SRA, CDEI, ACB In a desperate attempt to recapture market share from FHA, Freddie Mac’s Primary Mortgage Market Survey in June, 2010 was approximately: 4.6 percent for 30-year fixed rate mortgages (FRM); 4 percent for 15-year FRM and 3.8 percent for 5/1-year adjustable rate mortgages. [1]…
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Editor’s Note: Everybody knows these are not the happiest or most lucrative times for appraisers. Here are a few things you may not know, according to our latest survey, including what the vast majority of appraisers say may be the key to higher fees. State of Industry: AMC Boycott, Hanging On and Other Issues by...…
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Editor’s Note: Andy Anderson looks around and ahead toward fixing a now broken appraisal profession. Customary and Reasonable Assignments By Andy Anderson The appraisal profession was not broken. Just like other professions, there were (and are) some bad actors, but appraising was not broken and should have been allowed to do its job correctly. That is not…
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HUD Approval Process Simplified On May 5, 2008, HUD dramatically simplified the application and approval process to become an FHA approved appraiser. The process can now be completed entirely online and there is no longer an exam. It is now easier than ever to become an FHA approved appraiser and fulfill FHA appraisal requests. FHA…
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FHA Links – How to Become an FHA Appraiser (and check your status) – http://portal.hud.gov/portal/page? – HUD’s Client Information and Policy System (download various handbooks) – http://www.hud.gov/offices/adm/hudclips/index.cfm – FHA Residential Appraisal Requirements – http://www.hud.gov/groups/appraisers.cfm
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“Excellent material – will help me get to the next level – well worth the money! Thanks.” – J Joslin FHA Appraiser Inspection Checklist eBook by Lore DeAstra, MBA, MRICS, SRA, CDEI This popular guide, used successfully by thousands of appraisers includes information on FHA appraising, with explanations, pictures, hot tips, and links. Author Lore DeAstra,…
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Editor’s Note: Lore DeAstra is our resident FHA expert and author of the FHA Inspection Checklist, Checklist Instructions and eManual. The eManual is recently updated with 23 new pages of material, visit https://www.workingre.com/fha-checklist-ebook/.
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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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