Appraisers & Gramm-Leach-Bliley By Pat Butler Most appraisers have heard of Gramm-Leach-Bliley (Privacy Act) but few understand their obligations under the Act. Appraisers have disclosure obligations under Gramm-Leach-Bliley (GBL) when they are hired directly by a consumer to conduct an appraisal. Compliance means disclosing to the client whether any of their nonpublic personal information will...…
Read More
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…
Read More
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…
Read More
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…
Read More
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
Read More
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…
Read More
HVCC Petitions Request For Reconsideration of HVCC Petition – Click to view and sign the petition to request reconsideration of HVCC to New York Attorney General, Fannie Mae, Freddie Mac, and the Office of Federal Housing Enterprise Oversight: http://www.hvccpetition.com/ViewSignatures.aspx. Freddie Mac Clears the Air: – For a clear and helpful Q&A on the HVCC that…
Read More
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…
Read More
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
Read More
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,…
Read More
