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 »
Well it must be true what they say… Don’t mess with Texas! The Texas Appraisal Licensing and Certification Board (TALCB) has issued a monetary fine of $2,801,500 against an appraisal management company. Fast Connections USA, Inc. and its President, Towhindul Hussain,were found guilty of hundreds of violations of Texas law and regulations. TALCB found Fast… Read More »
The Appraisal Foundation has posted the National Real Estate Appraiser Job Analysis Study. The survey is to determine the areas that are relevant to our daily functions as appraisers. This is our profession and appraisers are the best source of information on what we do and how we do it. The results will be used… 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 »
As we all navigate the unchartered territory we find ourselves in during this pandemic period, much attention is being placed on supporting local small businesses and restaurants. True, we need to support them, but what about those once in a lifetime events that so many are missing out on? Adults take so much for granted… 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 »
Everyone, not just appraisers is getting bombarded with information on Covid-19. So much of the information differs, it is hard to know what is real, hype or hysteria. So much has been shared within the appraisal groups on social media that there are more conversations about Covid-19 then appraisals. VaCAP is a volunteer organization of… Read More »
Well who said 2020 would be a nice calm year for appraisers? VaCAP has been receiving messages from appraisers about some of the crazy dumb stuff lenders and amcs are doing. What is scary is the things we are hearing are very reminiscent of 12-15 years ago. A long time VaCAP member forwarded an appraisal… Read More »
Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. He specifically cited the Brookings Institute Study ” The Devaluation of Assets in Black Neighborhoods, The Case of Residential Property” If you are unfamiliar with this study, in a nutshell, the findings… Read More »