Appraisers have some very strong opinions on computer driven appraisals. Others are noticing the dangers as well. It is more than just automated valuation models though. In an article written by Danielle DiMartino Booth, for Bloomberg , Fannie Mae and Freddie Mac are specifically called out on their appraisal waivers. The author compares the dangers… Read More »
The Consumer Financial Protection Bureau is seeking public comments on the proposed rules for a Qualified Mortgage. The proposed rules require the lender to season the mortgage for 36 months before they can sell it to Fannie or Freddie. What that means is the lender will own that loan for 3 years. Fast forward if… Read More »
Every US Citizen needs to watch this 5 part docu-series. It exposes who transpired with whom and what they did…. A REAl EYE OPENER FOR MANY. Not on Facebook> No Problem. The video will stream here even if you don’t have a Facebook account or are not logged into one.
This is a call to action! Comments on the proposed changes to the 2022-23 USPAP are needed The proposed changes to the reporting requirement of Standard 2 may impact the profession negatively and confuse the public on who we are and what we do. We ask that each and every one of you pause for… Read More »
VaCAP has just learned of a meeting on July 22 to discuss and vote on proposed changes to the square footage calculation under ANSI guidelines. The proposed changes were published for public comment which closed in March. The meeting, which is described as a virtual Consensus Committee Meeting is open to the public, however you… Read More »
Those fine outstanding law abiding people at Wells Fargo are at it again! This time the fraud is against the United States Bankruptcy Court and as usual, their very own customers. Wells Fargo’s explanation……. The Covid-19 Pandemic! Wells Fargo is using the Covid-19 virus as the excuse for placing borrowers currently under Chapter 13 bankruptcy… Read More »
THE CON ~ AN IN-DEPTH INVESTIGATION INTO THE 2008 FINANCIAL CRISIS: WHO DID IT, WHY IT HAPPENED, AND HOW THE CON IS WHAT WE ARE AND THE REASON EVERYTHING IS $CREWED UP. Executive Produced by ADAM BRONFMAN Produced by PATRICK LOVELL Written and Directed by ERIC S. VAUGHAN If you attended the Appraisers Economic… Read More »
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 »
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 »
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 »