Editor’s Note: Here is a quick snapshot of the industry as per our visit to a la mode’s recent annual convention in Las Vegas. State of the Industry: Marketing, Technology, Fraud by David Brauner, Editor WRE Just returning from a la mode’s annual convention in Las Vegas, it was great catching up with old friends...…
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“Comp Check” Q & A from The Appraisal Foundation Can Appraisers Perform “Comp Check” Assignments? Question: I’m a residential appraiser and have been asked to perform a “comp check” (or “pre-comp”) assignment, where a client wants to get an idea of the value of a home prior to proceeding with a mortgage financing transaction. Does…
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Privacy Laws and Your Real Estate Practice by Darity Wesley Every year a barrage of “Privacy Notices” are sent from credit card and insurance companies, accountants and other businesses that collect information about you. Do you wonder why you receive these notices? They are sent in compliance with a Bill passed by Congress called the…
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OTS Regional Offices Northeast Serving: CT, DE, MA, ME, NH, NJ, NY, OH, PA, RI, VT, WV Regional Director: Robert C. Albanese Jersey City Regional Office Harborside Financial Center Plaza Five Suite 1600 Jersey City, New Jersey 07311 (201) 413-1000 Southeast Serving: AL, FL, GA, IL, IN, KY, MD, MI, NC, SC, VA, District of…
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Mortgage Broker Fun Facts Felons Can’t Vote in Florida but are Free to Fleece the Public From the Miami Herald: http://www.mortgagenewsdaily.com/7242008_Florida_Felon_Mortgage_License.asp The Miami Herald’s investigative team reported on Sunday that the state has approved over 10,000 mortgage broker licenses for convicted felons since 2000; over 4,000 were issued to individuals who had been convicted of…
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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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Introduction to UAD Fannie Mae and Freddie Mac recently launched the Uniform Mortgage Data Program (UMDP) initiative, which is intended to standardize data provided by lenders to these two mortgage giants. A key part of this initiative is the Uniform Appraisal Dataset (UAD). For residential mortgage lending appraisers, knowledge of the UAD will be essential…
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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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FDIC Vendors Links http://www.fdic.gov/buying/goods/ListofAwardsandContractorContactInformation.html http://www.fdic.gov/buying/goods/index.html According to appraiser Thomas J. Inserra, MBA, MAI, SRA appraisers are adapting their practice to different markets and customers rather than lender loan origination work only and there is great opportunity if you know where to look. Speaking at the Valuation 2010 Expo, Inserra said appraisers can find abundant work,…
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Fannie and Freddie Webinars Most know by now that, in a “quest to improve loan quality through more robust and uniform data,” Fannie Mae, Freddie Mac are introducing a new “language” called the Uniform Appraisal Dataset (UAD). The GSE’s are providing specific and mandatory guidance on how to fill out the 1004, 2055, 1073 and 1075…
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