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 »
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 »
The State of Pennsylvania has filed a class action law suit against some of the biggest banks and financial institutions in the country. The claim is these companies conspired to fix the prices on almost $500 billion in bonds issued by Fannie and Freddie over a mere 5 year period from 2009-2014. The named defendants… Read More »
Another Mueller Report has surfaced…. The report is a Mueller REO Hybrid Appraisal Report and it was given to an appraiser as a sample. This one raises more questions than the last one! The photos from the property inspection do not tell the appraiser one thing. The photos are dark and the repairs the inspector… Read More »
Is the Welcome Mat Down and the Door Opened Wide for Fraud? “What Appraisers Need to Know about Property Data Collection” is a topic of discussion in the latest Fannie Mae Newsletter. The article describes how property data is being collected and being sent to Fannie Mae to determine the type of valuation that is… Read More »
AppraisersBlogs has published an article this morning that is worthy of sharing. The article highlights a reason lenders want automated values and not appraisers. The reason may surprise you. Check it out for yourself. While you are there, please show AppraiserBlogs how much you appreciate their dedication to the profession by clicking a few Google… Read More »
The Virginia Real Estate Appraisal Board Meeting Recap. 02/12/2019 To say this meeting was a full house is an understatement. An extra row of chairs was added in anticipation of public attendance. The agenda was posted prior and the format was, well just like every other meeting. The meeting minutes were approved from the… Read More »