The walnut paneled courtroom is nearly empty. The case being heard this morning does not warrant the interest of local court observers. This is a condemnation case about a utility easement running across the land of a property owner (plaintiff). Leaning back in their leather chairs sits a panel of three judges, grim faced, disinterested,…
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Editor’s Note: The following three stories (Truth or Consequences) shed some light on what it means to be a working appraiser today. You are invited to draw your own conclusions about what may be wrong with the industry and what you can do to help fix it. Please forward your stories to dbrauner@workingre.com.(Thanks to the...…
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“EDI” Open Standard Arrives Anyone remember EDI? It was the often discussed “standard” for transmitting appraisal reports electronically that was always in development and right around the corner (for about six years). Without much fanfare, an open standard for describing property and appraisals, using XML markup language, has recently been ratified by the Mortgage Bankers...…
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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: 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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Appraisal & Identity Security Solution by Stephen Nation, Executive Vice President of NATION Technologies, LLC Before the Internet and email, the appraisal business was largely a relationship-centered business conducted between appraisers and lenders or their agents. Relationships were primarily local and often conducted over a handshake. There was often a high level of confidence in knowing…
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This article is about common mistakes in appraisal reports, whether the appraisal is for a mortgage transaction or other intended use. Most mistakes are not violations of USPAP but errors caused by a lack of common sense, trying to satisfy a client or not following Fannie Mae guidelines.
After reviewing countless appraisal reports, I noticed a…
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Expectations have changed considerably over the past few years. An appraiser who was considered to be the best and at the top of their game a few years ago can find themselves lost and confused in today’s market. Clients want more information and they want it in less time and sometimes for less money. Learning…
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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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If you work with Appraisal Management Companies (AMCs) or are willing to keep an open mind about it, here are several key points on how to find the best companies to work for and how to make more money with less struggle, according to one appraiser who is doing just that.
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