Category Archives: News

Here We Go Again

Appraisers, prepare yourself for what we are about to share. The short sighted proposal is simply nonsensical from every angle.  The Consumer Financial Protection Bureau wants to eliminate the Debt to Income requirement on Qualified Mortgages. You may recall this was proposed a while back and most of the profession objected strongly. Letters, emails and… Read More »

AMC Fined $2.8 Million

Well it must be true what they say… Don’t mess with Texas! The Texas Appraisal Licensing and Certification Board (TALCB) has issued a monetary fine of $2,801,500 against an appraisal management company. Fast Connections USA, Inc. and its President, Towhindul Hussain,were found guilty of hundreds of violations of Texas law and regulations. TALCB found Fast… Read More »

Appraisers – Eyes, Ears & Market Pulse

The appraisal profession came about because of the Great Depression and our relevance is still strong today. Exceptional circumstances such as the current pandemic create a need for temporary allowances for information gathering for the valuation of collateral. The appraisal community has come together to insure our clients’ needs are met. Be it extra precautions… Read More »

Warning to Appraisers

We have all been there; you are busy and you lose track of your accounts receivables. Suddenly, you have 45, 60 and 90 day past due invoices.  VaCAP wants to remind you to pay attention not only to your receivables, but industry news to make informed decisions going forward. Two days ago HousingWire reported Ocwen… Read More »

Covid 19 Issues Addressed

  Fannie and Freddie have come out with updated guidelines for appraisals. There is much confusion on what is and what is not required. The below matrix simplified what is allowed by Fannie Mae. Additional questions and answers can be found on Lender Letter LL-2020-04. The unknown to the appraiser is the  ownership of the loan. … Read More »

Something Different

As we all navigate the unchartered territory we find ourselves in during this pandemic period, much attention is being placed on supporting local small businesses and restaurants. True, we need to support them, but what about those once in a lifetime events that so many are missing out on?  Adults take so much for granted… Read More »

Crazy Dumb Things

Well who said 2020 would be a nice calm year for appraisers?  VaCAP has been receiving messages from appraisers about some of the crazy dumb stuff lenders and amcs are doing. What is scary is the things we are hearing are very reminiscent of 12-15 years ago. A long time VaCAP member forwarded an appraisal… Read More »