Editor’s Note: An OREP member recently walked into our (San Diego, Calif.) office to renew his E&O insurance in person. We are always glad to meet our members. During our chat, he said he now does only REO work and is plenty busy. Ann O’Rourke explains that if foreclosures are up where you live, your...…
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Editor’s Note: The following is excerpted from Get more Appraisal Jobs in Any Market, a marketing book provided free to all appraisers by a la mode software. You can download the PDF at http://www.alamode.com/appraisermarketing. Get More Appraisal Jobs in Any Market Start with what you already have- your lists. 1. Get the list of all...…
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Who Owns the Data? By David Brauner, Editor Here’s a riddle: what do the following have in common: copyrighting appraisals, the Intended User/Intended Use provision in USPAP, Item 21 on the Fannie Mae form, data mining and the FNC lawsuit, automated appraisals (AMVs), and perhaps, the future of appraising? Apparently, they have everything in common....…
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Editor’s Note: In the wake of these turbulent times, the tide is turning for appraisers. Lenders and regulators finally seem to understand the necessity for accurate and independent appraisals; lenders and Wall Street are demanding valuation accuracy, and as we see in this story, regulators nationwide have proposed and/or passed a flood of legislation to...…
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Beware: Inspecting for Hantavirus By Rich Parker As inspectors (and appraisers) we face potentially dangerous situations daily, from a simple broken step on a front porch that might cause us to trip and fall, to a backyard hole, obscured by overgrown grass or weeds, that can cause an ankle sprain, to breathing mold, to a...…
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Editor’s Note: In our cover story last issue, “AVM Tango! Man or Machine?” we reported that as a result of our AVM questions, Appraisal Standards Board (ASB) Chair Greg Accetta indicated further clarification would be forthcoming. Here is a statement issued by the Appraisal Foundation in June 2007 (www.appraisalfoundation.org). Are AVMs Appraisals? Appraisal Standards Board...…
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Editor’s Note: Here is a question (and answer), concerning the proper intended user statement when the form and intended use conflict with one another. Scope of Work: Q&A by David Braun, MAI, SRA Risks of Changing Intended User Statements (Question from Howard Goheen, Phoenix Appraisal Service) “Dear David (Braun)…We’ve worked hard to get up to...…
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How Lenders Think By Calvin Moye, SRA, GRI This is first in a series of questions and answers from Calvin Moye, SRA, GRI. The questions in this series come from bankers and examiners seeking Mr. Moye’s expert advice. Moye, an expert in banking practices, explains the importance of the information this way: “Many residential appraisers...…
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Editor’s Note: The following Q&A with MARI results from its name coming up again and again as the source of complaints against appraisers. The responses are from Merle Sharick, Vice President – National Manager of Business Development, Mortgage Asset Research Institute (MARI), a ChoicePoint company. Mr. Sharick has been at MARI for four years, after...…
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Editor’s Note: You can find the class action, filed by a group of appraisers against FNC, Inc., at the bottom of this page. Federal Suit Alleges Misuse of Appraisers’ Data by FNC by David Brauner, Editor In a federal class action, a group of appraisers from across the country has filed a complaint against FNC,...…
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