volume 27

Professional Marketplace

Category :

WRE Issues

Professional Marketplace Insurance, Education, Information Appraisers E&O: $455 (minimum premium certain sates)> Appraisers enjoy same-day E&O insurance coverage (most cases) with an A++ carrier and other benefits through OREP. Instant financing is available. Individual Appraiser E&O Rates Per Claim/Annual Aggregate Most States $1,000,000 / $2,000,000 $650.00 $500,000 / $1,000,000 $573.00 $300,000 / $600,000 $501.00 Please… Read More

Industry News

Category :

WRE Issues

Industry News Uniform Appraisal Dataset (UAD): Free Webinars Most know by now that, in a “quest to improve loan quality through more robust and uniform data,” Fannie Mae and 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… Read More

Behind Curtain at State Boards

Like most real estate appraisal boards, Florida’s Board publishes an annual summary of the cases it finalizes against its appraisers. Florida’s Real Estate Appraisal Board (FREAB) does not intend these summaries to be lengthy analyses of “what went wrong” or something law students might study for insight. They are merely summaries of the charges the… Read More

State Watch: Regulating AMCs

State Watch: Regulating AMCs By Mike Antoniak When the Home Valuation Code of Conduct (HVCC) became law May 1, 2009 it had unintended but far-reaching consequences for professional appraisers. “The HVCC, and its perceived need for financial institutions to separate the origination and the appraisal ordering function to preserve appraiser independence, resulted in an explosion… Read More

Power of Many: State Appraiser Coalitions

Trying to catch the ear of your state legislators? Consider joining a coalition of like-minded appraisers if your state has one; if none exists, start talking up the idea and get things rolling to launch a statewide coalition. “There’s strength in numbers,” observes residential appraiser Michael Brunson, president of the Coalition of Appraisers in Nevada (CAN)… Read More

Fed Board Update: Customary and Reasonable Fees

As implementation of Dodd-Frank takes effect, the Federal Reserve Board shed light regarding the implementation of the customary and reasonable fee provision of the legislation. The Federal Reserve Board, tasked with implementing the landmark Dodd-Frank Financial Reform legislation passed last year, laid out its guidance in the “Interim Final Rule” (IFR) published in October 2010 (find… Read More

Readers Respond

Category :

WRE Issues

Readers Respond AMCs/Customary and Reasonable Fees WRE has received many hundreds if not thousands of comments from appraisers posted to its surveys and blogs, with many also emailing us directly discussing AMCs, customary and reasonable fees and the state of the industry. These are representative of many. – Editor This AMC is complaining about a… Read More

From the Publisher

Category :

WRE Issues

Appraiser Reality: Absurd, Isn’t it? Driving to work early this morning I passed a scene familiar to most of us: a small group of laborers pouring cement for a neighbor’s new driveway. As I noted the contractor driving up in his new F-150 truck, I wondered if the powers that be in Washington D.C. or… Read More