Appraisal News - Maricopa County Arizona

AppraisalScoop is one of my favorite industry sites. It has news and commentary over a broad number of issues from several of the leaders in our industry. Everybody involved in real estate should check this site regularly.

Appraisal Scoop:

Pennsylvania Gov. Tom Corbett signs AMC legislation

2/4/2012 10:12 AM

Originally posted by Kim Shindle On February 3, 2012 @ 6:00 am In Association News,Government Affairs- http://www.PARJustListed.com Appraisal management companies will now be regulated in Pennsylvania, thanks to legislation signed by Gov. Tom Corbett on Thursday. House Bill 398 [1]...

Appraisal and AMC Fees Separated on Revised Settlement Forms

2/4/2012 10:12 AM

The Consumer Financial Protection Bureau released the second proposed version of a new Consumer Disclosure Form Feb. 1 that includes clear disclosure of any fee paid to a “Local Appraisal Company” and to an “Appraisal Management Company.” The Appraisal Institute...

The 1004D - Appraisal Update and/or Completion Report - Uses and Misuses

2/4/2012 10:12 AM

Guest Author: Ken Shure, Certified Residential Appraiser in the Los Angeles, California area. Contact: kbshure@Yahoo.com The 1004D form issued by Fannie Mae has two distinct sections. The first section is utilized to produce a summary appraisal report associated with a...

American Guild of Appraisers Files Request with Federal Reserve Board Seeking Documents Related to Regulations on Customary and Reasonable Compensation of Fee Appraisers

2/4/2012 10:12 AM

WASHINGTON, Jan. 23, 2012 /PRNewswire-USNewswire/ -- On behalf of the American Guild of Appraisers, today the law firm Garvey Schubert Barer filed a request with the Federal Reserve Board under the Freedom of Information Act seeking a wide variety of...

GAO Recommendation: Appraisal Subcommittee Needs to Improve Monitoring Procedures

2/4/2012 10:12 AM

Why GAO Did This Study Real estate appraisals have come under increased scrutiny in the wake of the recent mortgage crisis. Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 created an oversight structure for appraisals...

Appraiser Joan Trice Authors New NAHB Primer Aimed at Helping Builders Work More Effectively With Appraisers

2/4/2012 10:12 AM

With builders around the nation continuing to grapple with faulty appraisals that jeopardize sales of their new homes, NAHB is adding an “Appraisal Primer” to its collection of resources aimed at helping association members strive for the best possible outcome...

Land Valuation: Extraction Has No Traction

2/4/2012 10:12 AM

ARTICLE SOURCE: Vol. 4, Issue 1, January 2012 of the Illinois Appraiser newsletter from the Illinois Department of Financial and Professional Regulation. “Land values were based upon the extraction method.” Look familiar? If I had a nickel for every phoned‐in...

Geek's Corner: Magic Plan App Can Create Floor Plans By Photographing Corners of a Room

2/4/2012 10:12 AM

I learned of of the MagicPlan App from the Photography For Real Estate (PFRE) blog. According to PFRE: "The app is free for download. The final floor plan is free for non-commercial use (includes a watermark) and $1.10 USD for...

"Factoring" Accounts Receivable, or . . . .Where's My Money?!

2/4/2012 10:12 AM

GUEST AUTHOR: Ramir Rodriguez is a business development officer for Treasure Valley Factors. He helps real estate appraisers understand what factoring is and how it can help grow their business. He has a B.S. in Business Administration with an emphasis...

Taking Stock of the 2055 "Exterior Only" Appraisal Form

2/4/2012 10:12 AM

Guest Author: Ken Shure, Certified Residential Appraiser in the Los Angeles, California area. Contact: kbshure@Yahoo.com The 2055 form issued by Fannie Mae is a common vehicle for the reporting of an appraisal. The form includes a pre-printed scope of work...

Appraisal Scoop:

GAO Report on ASC Hits the Street

1/19/2012 10:03 AM

Yesterday, the US Government Accountability Office (GAO) released their report on real estate appraisals “Appraisal Subcommittee Needs to Improve Monitoring Procedures” as required per Dodd-Frank. GAO was tasked with 1) determining how the Appraisal Subcommittee (ASC) is carrying out its Title XI responsibilities, 2) ASC’s plans t...Read More

Start 2012 with FHA Training

1/4/2012 9:30 AM

Happy New Year everybody! The Federal Housing Administration (FHA) is offering appraisal training later this month and early next month. The January training is a Webinar so you can participate from anywhere. The February training is in Denver, CO so if you’re an appraiser heading for ski country this training is for you. Here are [......Read More

Your UMDP & UAD Update

11/30/2011 2:55 PM

Government sponsored enterprises (GSE), Fannie Mae and Freddie Mac are reminding interested parties that December 1, 2011, is a pretty important date for the Uniform Mortgage Data Program (UMDP). Going foward, Uniform Loan Delivery Dataset (ULDD) data points must be collected and submitted to the GSEs for loans delivered on or after March 19, 2012....Read More

A Magical Review of NAR’s Annual Meetings

11/21/2011 10:00 AM

Earlier this month, the National Association of Realtors (NAR) held its Annual Convention in Anaheim, California. While your friends at Appraisal Insight spent a fair amount of time at Space Mountain and mingling with Mickey and friends we also took in some appraisal action. Credible valuation of real property is a hot topic these days [......Read More

No Appraisal Required Under New HARP

10/24/2011 10:01 AM

Today the Federal Housing Finance Agency (FHFA) announced changes to the Home Affordable Refinance Program (HARP) to “attract more eligible borrowers who can benefit from refinancing their home mortgage.” The announcement was made in conjunction with the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac. HARP will now a...Read More

Hot Off the Presses – New USPAP Now Available

10/14/2011 8:13 AM

The Appraisal Foundation (TAF) announced that the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is now available. This edition of USPAP will be valid for two years beginning January 1, 2012 through December 31, 2013. According to a TAF press release “the new edition includes the standards of professiona...Read More

EBSA to Re-Propose Definition of Fiduciary Rule

9/21/2011 11:53 AM

On September 19, 2011, the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) announced it will re-propose it’s rule on the definition of a fiduciary. The rule was proposed to protect business owners who offer retirement plans and those who invest in these retirement plans and IRAs. The proposed rule defined a fiduciary as...Read More

VA Will Not Require UAD Compliance

9/12/2011 11:47 AM

For those keeping score at home, the US Department of Veterans Affairs (VA) announced that it will not require Uniform Appraisal Dataset (UAD) compliance for appraisal reports on VA backed loans. VA will accept appraisal reports that are in compliance with UAD and is preparing a circular with more detailed information for a future release...Read More

More FHA Training Coming at You

9/6/2011 3:12 PM

September 07-08, 2011 – Charlotte, NC. FHA Appraiser and Lender Training. The credit training includes an overview of 203k, 203k Streamline and Energy Efficient Mortgages. In addition we will review recent Mortgagee Letters and discuss general underwriting do’s and don’ts. The appraiser training will cover recent Mortgagee Letters...Read More

UAD Goes Into Effect on September 1st for GSEs

8/26/2011 12:39 PM

In recent days there have been rumors and reports that the implementation of the Uniform Appraisal Dataset (UAD) announced by the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, would be delayed. NAR has confirmed that the UAD will go into effect for appraisals on GSE mortgages as scheduled on September 1, 2011, and [......Read More