You receive a call from a lender or an appraisal management company (AMC) who wants to talk to you about an appraisal assignment you recently completed for them. The call usually comes from the quality control department at the post closing stage of the loan. They start questioning you on your line item adjustments. …
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After over two years and many tens of thousands of dollars in lost revenue, appraiser Bill Smith fought his way off Citibank’s infamous “do not use list.” Here’s how he did it.
To begin with, Smith (not his real name), has a “can you top this” aspect of how he was blacklisted in the first…
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Readers Respond Fighting Your Way off Blacklist After reading your article, I am in the process of trying to make the same complaint to see if it gets me anywhere. They (very large bank) don’t give you a chance to rebut or even threaten you. They simply send you a letter stating you have been placed…
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From the Publisher Moving Ahead According to our How’s Business? survey (click for results), most appraisers are as busy or busier than last year. There’s still a lot of grumbling on the blogs but the silent majority seem to be back to work. Most appraisers we talk to at OREP, to place their insurance, tell…
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Professional Marketplace Insurance, Education, Information 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 Note: Rates vary by state. Commercial rates are slightly higher. Please call or visit www.orep.org for more (888-347-5273). A standard deductible of $500 per claim/$1,000 aggregate is included…
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Industry News Editor’s Note: Last issue we reported on an important Congressional hearing on the appraisal profession. The following are the Top Ten Appraisal Reform Recommendations [NCRC] as presented at the hearing by David Berenbaum, Chief Program Officer, National Community Reinvestment Coalition. In conclusion, I reiterate that the time has come for members of Congress,…
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Editor’s Note: Making lemonade from lemons (a negative review)? Yes, appraiser Andy Anderson says you can turn a negative review into an effective sales tool. He explains below, which is excerpted from his webinar Dealing with a Negative Reviews. Dealing with Negative Reviews By David Brauner, Editor How do you turn a negative review into...…
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If you are appraising an environmentally contaminated property, you may need to consider more than just the cost of remediation (cost to cure). The property may suffer from stigma associated with the contamination. Stigmatized properties can take months and even years to recover from a blighted image.
The Uniform Standards of Professional Appraisal (USPAP) describe stigma…
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Blacklisting with a Twist By Isaac Peck Last issue Working RE reported on an appraiser who was given a tough choice by Chase Bank: violate USPAP by discussing an appraisal with them – an entity other than the client, or face blacklisting (Lender’s Choice- Summer 2012). This time, Chase is offering a third option to...…
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Editor’s Note: Lawmakers got an ear full from appraisers at a June hearing in Washington. D.C. This time, it appears Congress is listening. Appraisers Talk, Congress Listens by David Brauner and Isaac Peck After the Congressional hearing in June, rest assured that Capitol Hill is well aware of appraisal industry issues, including customary and reasonable...…
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