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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HVCC Talkback Survey One Year On Results Data collected from April 2010 through September, 2011. Since HVCC, you’ve seen appraisal quality in general: Worsen: 60.6% Stay about the same: 23.0% Unsure/don’t know: 11.4% Improve: 5.0% Your appraisal reports are more accurate, complete and free of outside influence today than before HVCC: Disagree: 71.9% Agree: 19.9%…
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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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In business, with every change comes opportunity: the radical changes expected to hit this industry may mean new opportunities for appraisers.
On the minds of many fee appraisers this fall is how the new Home Valuation Code of Conduct (HVCC) will affect their businesses. The agreement between the New York Attorney General’s office and Fannie Mae/Freddie…
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Editor’s Note: This survey, offered by Bradford Technologies, provides insight into residential appraiser demographics. Appraiser Demographics: Who are You? By Jeff Bradford, CEO, Bradford Technologies Who are you? That’s what we wanted to know. So as appraisers signed up for our free directory listing in AppraisalWorld, we asked them to take a survey. We’d like...…
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The Market: One veteran says that in 37 years of appraising 2008 was the toughest market he’s ever seen and that 2009 could be worse. Several others, also appraising over 30 plus years of real estate cycles, agree. Their take? If you can make it in these conditions, you can make it.
Professional…
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Editor’s Note: There will be life after HVCC. Here, appraiser Paul Chandler, MAI, offers his insider’s view on AMCs and how to make the new changes work for you. HVCC/AMCs – Change Equals Opportunity by Paul E. Chandler, MAI The Home Valuation Code of Conduct (HVCC), effective May 1, 2009, has created uncertainty and apprehension...…
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Reaction to the Home Valuation Code of Conduct (HVCC) and appraiser management companies (AMC) can be summarized as follows, according to the Appraiser Talkback Blog and Survey:
Appraiser selection by AMCs is mostly based on the lowest bid and not on quality or competency, and the fees, generally, are not adequate to keep many appraisers in…
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FHA, Fannie/Freddie Tell it Like it Is (to them) by David Brauner, Editor The appraiser Valuation 2009 conference in New Orleans in November offered unprecedented access to key regulators, AMCs and other decision makers regarding the future of the appraisal industry- that’s the good news. The bad news is that you may not like what…
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Industry News HVCC Update- Seeing Light Regulators, lenders and the public are finally getting the message that all is not well with HVCC. Consider FHA’s recent mandate that appraiser fees be customary and reasonable and that there be a clear separation of appraiser and AMC fees (Page **). These requirements speak directly to appraisers’ complaints.…
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