In business, with every change comes opportunity: the radical changes expected to hit this industry may mean new opportunities for appraisers.
On the minds of many fee appraisers this fall is how the new Home Valuation Code of Conduct (HVCC) will affect their businesses. The agreement between the New York Attorney General’s office and Fannie Mae/Freddie…
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Question: I have been performing a lot of exterior drive-by appraisals for REOs and pre-foreclosure purposes. The intended use is not for any type of financial transaction but for estimating market value purposes only. What is the level of risk for these types of appraisals compared to purchases and refis? Typically these appraisals are for…
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Out of all the sport hero commentaries I have heard, the most beneficial one for me involves a remark by the great Wayne Gretsky. The story goes something like this: a reporter asked Gretsky what was the secret of his success on the ice. The reply was that he didn’t skate to where the puck…
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Here’s a riddle: how do you grow your business without adding new clients? The answer is, you grow business by cultivating your existing client base. Here are a few simple ways to add to your bottom line without spending time and money chasing new clients.
The appraiser does not exist who fully maximizes the potential inherent…
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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…
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Editor’s Note: As this story illustrates, new laws supporting appraiser independence are beginning to bite and may be indicative of a new day. Appraiser Board Turns Tables on Broker by Cary Barker, Assistant Editor The times, they are indeed changing. A previous WRE cover story, Turning Tide? Appraiser Independence (Volume 18), covers a spate of...…
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Editor’s Note: The Housing Recovery Bill signed into law this summer promises to benefit appraisers, but the rules have changed. Here’s what you need to know. National Housing Act: What Appraisers Need to Know by David Brauner, WRE Editor The National Housing Act (H.R. 3221), signed into law on July 30, 2008, may generate a...…
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Readers Respond Cuomo-Fannie/Freddie Agreement – read article The story quotes an appraiser saying they spent over 20 years developing their business, which primarily focuses on mortgage brokers. “No longer can I market my business,” he says. Sorry. Had you marketed your services to “reputable” clients over the past 20 years you wouldn’t be sweating the Fannie/Freddie-Cuomo deal. My…
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Director’s Message Lender Pressure: Business as Usual? With respect to lender pressure, many appraisers complain it’s “business as usual” despite the myriad state and federal legislation recently enacted to protect their independence, including the looming Home Valuation Code of Conduct- the centerpiece of the Fannie-Cuomo deal, and the recently passed National Housing Act, which also…
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Industry News Heck No BPOs! Heavy on the minds of appraisers this year is losing work to broker price opinions (BPOs), despite that BPOs for anything other than a real estate listing is illegal in at least 24 states, according to a recent article in the Appraisal Institute’s (AI) weekly newsletter Appraiser News Online. According…
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