Join VaCAP President Pat Turner Live on The Home Show with Richard McKann! Discussion will revolve around protecting the consumer . Tune in and listen on WRVA 1140 AM at 7:30 AM Saturday May 4th https://newsradiowrva.radio.com/hosts/home-show-richard-mckann To call in with a question, 804-345-1140. Thanks for Supporting VaCAP!
VaCAP is excited to launch a Consumer Protection Campaign! For months we prepped, we discussed, we negotiated, we wrote, we edited, we wrote some more, we edited some more…. finally, we recorded. We have three 60 second consumer protection announcements airing on WRVA 1140 News Radio starting on Monday April 29th. The three consumer protection… Read More »
Technology has changed the way we do many things in the world today. Buying and selling Real Estate is no different. We use internet sites and apps to search for homes, view photographs and observe neighborhood with satellite imagery. We obtain information on the local schools, community amenities and other statistics. Many companies try to… Read More »
The Importance of an Appraiser Simply put, an appraiser is the only person within a real estate transaction that is unbiased and is not compensated based on a sale price or loan amount. Agents, lenders, and loan officers are all compensated based on a percentage of the loan amount or sale price. They have an… Read More »
VREAB Meeting The Virginia Real Estate Appraiser Board Meeting is scheduled for Wednesday May 1, 2019. Please note this is on a Wednesday, not Tuesday, like the other meetings. The Bifurcated Appraisal Guidance document is on the agenda to be discussed. The meeting will be held at the usual location and start at 10:00 AM. Department… Read More »
Appraisers vs. Machines Collateral risk analysis (appraisals being a key element of that) is partially art, partially science. Those two facets are blended inseparably, like a soup…the ingredients can’t be separated. While computers can undeniably perform certain tasks better than humans (such as the handling of large amounts of data) appraisers can perform other absolutely… Read More »
Last week VaCAP shared information on Clarocity Corporation and how the main investor StableView Assets was seizing the shares and foreclosing on the working assets, which includes Clarocity Valuation Services. StableView in turn had an agreement to sell Clarocity Valuation Services to I Look About. We warned to proceed with caution or do not proceed… Read More »
AMC being sued for Bifurcation! VaCAP was forwarded an article this afternoon by one of our members. The article from Foreclosurepedia is dated August 15, 2018 and concerns a class action law suit filed by property inspectors. ServiceLink Field Services, a division of ServiceLink is being sued for misclassifying employees. From the complaint filed in… Read More »
Going on over three years now, the law suit between the Department of Justice and HUD against Quicken Loans was ordered to mediation to settle prior to the upcoming trial start date. The allegation that is the center of the lawsuit, concerns loans Quicken submitted to FHA that did not comply with HUD/ FHA requirements.… Read More »
You have accepted an appraisal assignment for a purchase. Your client is the lender. Upon reviewing the sales contract, the following preprinted language is in the sales contract: “This contract is not contingent upon the Property being valued at an Appraised Value according to the Lender’s appraisal or other appraisal as agreed upon by the… Read More »