The Appraisal Foundation has issued an exposure draft for Advisory Opinion 16. Advisory Opinion 16 is Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development and Reporting. Unlike other exposure drafts, the text of the advisory opinion has been rewritten. The traditional strike through of word or phrase changes is nonexistent.… Read More »
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 »
Thank you to the many who have already renewed their VaCAP membership. For those of you who have not renewed, (you know who you are) please do so now. Our membership renewal process is the same as it has been for the past several years. It has worked well for us and is both cost… 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 »
Thank you to those who contacted us about an issue renewing your VaCAP membership on line. The link for payment is now functioning correctly. We ask those who had trouble, please try again. https://vacaponline.com/how-to-join/. If you have not renewed your VaCAP membership, please do so now,. We have a lot of exciting changes in our… 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.
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 »
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 »
Ok appraisers let us be blunt about the Covid -19 Virus. It is serious and no one should be ignoring all the warnings. We could learn a thing or two from other countries that have experienced the outbreak prior to us. Fannie, Freddie, HUD and VA have all altered their appraisal requirements as a result… Read More »