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 »
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 »
The information is on the website… They could have picked up the phone and called… They could have sent an email… They could have sent a fax… Did They? A recruiter for Mueller Services, Inc. (Mueller Reports) contacted a VaCAP member about joining their team as a W-2 employee to complete bifurcated appraisals. Our… 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 »
Speak About Hybrid Appraisals at the VREAB Meeting Tomorrow! The Virginia Real Estate Appraisal Board meets tomorrow for its quarterly meeting. The meeting will take place at DPOR Offices, located at 9960 Mayland Dr, Richmond, VA 23233 @ 10:00 AM. The agenda can be found on the Townhall. This meeting is important as hybrid… Read More »
The following is written by a VaCAP guest author. The author, writing under the pen name “Steadfast Appraiser” is an appraiser who values the profession and believes in promoting public trust. The Shifting Narrative of Appraisal Modernization Is there a Crisis? Rahm Emanuel eloquently stated “You never let a serious crisis go to waste. And… Read More »
VaCAP sent out a “Call to Action” a month ago to comment on the proposed increase in the appraisal threshold to $400,000. As of this writing, only 168 comments have been received. This is our Future, Please Comment Now! The OCC, Board, and FDIC (collectively, the agencies) are inviting comment on a proposed rule to… Read More »
Happy New Year! VaCAP wishes everyone a happy and healthy New Year! 2019 will be a year of excitement and change! The Fifth Circuit Court will hear Oral Arguments in the Louisiana Real Estate Appraisal Board vs FTC case in early February. VaCAP’s First Conference with Continuing Education takes place February 7 & 8th.… Read More »
Thank You Appraisers for Protecting the Public Good News! Mortgage Fraud increased 12.4% How exactly is this good news? Well, it is simple….. Appraisers had absolutely nothing to do with it! According to the CoreLogic Mortgage Fraud Index, mortgage fraud rose 12.4% from 2nd Qtr 2017 through 2nd Qtr 2018. Here is the break down: … Read More »