Appraiser Wins “AMC-Agent” Judgment Against One-West Bank by Isaac Peck, Associate Editor The appraiser community is still reeling from the decision of a Florida bankruptcy judge to absolve JPMorgan Chase of all liability in the case of Evaluation Solutions/ES Appraisal Services (ESA) bankruptcy case. Over 10,000 real estate appraisers and agent/brokers were left unpaid by…
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Editor’s Note: Here is some food for thought from regular contributor and Mobile Appraising Training Package author, Dustin Harris. His suggestion makes sense from a valuation perspective and also might release some of the pressure on appraisers to “hit the number.” The OREP/WRE Appraiser Independence Survey has over 1,000 respondents and hundreds of comments. We…
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Editor’s Note: Marketing guru Roy Meyer shows us that while we can’t increase the amount of hours in a day, we can completely change how we use those hours to achieve success. Roy is presenting a free webinar on this topic Oct. 2 (details below). How to Find Success in Today’s Tough Market by Roy…
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When was the last time you indicated a functional obsolescence in the cost approach? Did you also reflect it in the sales comparison approach? Would you? Should you? These are questions we rarely, if ever, consider. Perhaps we even avoid the issue when we think the house we are appraising has functional…
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S.2452 is a bill intended to “amend the Truth in Lending Act to provide protection to consumers with respect to certain high-cost loans, and for other purposes.” Among other things, it’s intended to establish a duty for mortgage brokers and lenders to consider the best interests of their clients first. Lenders will be required to…
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Editor’s Note: E.J. Frank discusses techniques to make us better business people by being happier and less stressed. Better Appraising from the Inside Out by E.J. Frank There is good news and I want to share it with you. It’s not like any of us need to be reminded of the multitude of changes from…
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Editor’s Note: Two blockbusters last week: The Feds released the Interim Final Rule regarding implementation of Dodd-Frank and Fannie Mae released a new Seller Guide for life after HVCC (Home Valuation Code of Conduct). In an exclusive interview with WRE, a Senior Attorney at the Board of Governors of the Federal Reserve helps shed some…
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The good news for appraisers is that the Financial Reform legislation recently signed into law puts teeth into its mandate that appraisers be paid fees that are “customary and reasonable.” Now what?
The “bite” that Congress provided is wording which states that “such fees may be established by objective third-party information, such as government agency fee…
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Question: Mr. Spool: I read your article (How to Increase Residential Appraisal Income) and it was very informative. I have been marketing to agents but your article gave me the great idea to offer free classes as another marketing tool. I was wondering if you could share information as to what your classes entail. I…
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Getting Out: Why I’m Leaving Residential Appraising A sometime contributor to WRE, appraiser Mike Read, sends us this letter: I used to love appraising. Long before there was any appraiser regulation my clients came to me for valuation opinions because of my years of experience in real estate and their recognition of my accurate and...…
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