VaCAP has learned the Georgia Real Estate Appraisal Board is considering rescinding rule 539-1-.23. This rule is the customary and reasonable fee requirement to appraisers from appraisal management companies. The matter will be decided at a 9:30 AM Sunday July17, 2022 meeting. From the Georgia Real Estate Commission and Appraisal Board: Purpose: In… Read More »
The CFPB is reviewing bias in Automatic Valuation Models (AVMs). The proposed rules are a joint effort by the Consumer Financial Protection Bureau, the Office of the Controller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Federal Housing Finance Agency. These agencies are concerned AVMS may reflect bias… Read More »
Hybrid Appraisals were tested and failed. So what does Fannie Mae do? Let’s call them Desktops with third party inspectors. Fannie Mae has announced they will soon start accepting Desktop Appraisals. The appraiser does not inspect the property; however an interior floor plan including walls is required. This in itself is over and above what… Read More »
We are saddened to share the passing of our colleague, Mike Miller. Mike was active in the appraisal community for over 30 years and was appointed to the Virginia Real Estate Appraisal Board several times. His dedication to the profession was deep. Many appraisers, both commercial and residential were trained through his office. Our thoughts and… Read More »
This is what Class Valuation appears to be doing to justify their actions. According to the article written by Richard Torne in Mortgage Professional America, Class Valuation has announced the acquisition of DataMaster. From the article: “Were not replacing the appraiser, we’re empowering them” Appraisers have had their fair share of discussions on Class… Read More »
Reminder to Comment – Only Four Days Remain! The FTC is asking for public comments on the consent decree by the Louisiana Real Estate Appraisal Board. The time line to comment is short and ends on July 22, 2021. VaCAP asks each of you to take a few minutes and read the consent decree as… Read More »
A Call to Comment has been issued. The FTC is asking for public comments on the consent decree by the Louisiana Real Estate Appraisal Board. The time line to comment is short and ends on July 22, 2021. VaCAP asks each of you to take a few minutes and read the consent decree as well… Read More »
Freedom, a victory so often taken for granted, so often disrespected. Today we pause for all those who have sacrificed their lives for our freedoms. Thank you to all the Veterans, Service Members and their families for your dedication and sacrifices.
“If you don’t have a seat at the table, you are on the menu.” Would it be misleading to disclose you performed a personal inspection of a property done with significant appraisal assistance in which you relied on supported demographics? Well maybe… The Appraisal Foundation has… Read More »
FTC vs LREAB Update The Supreme Court has denied the Louisiana Real Estate Appraisal Board’s petition to intervene in the administrative case for price fixing by the FTC. The FTC trial is scheduled to proceed on April 20, 2021. VaCAP is closely following this case and will update you as it proceeds. To view all… Read More »