Are the profits being reported by Fannie and Freddie being skewed because of price fixing? In an article released on CNBC by Reuters, US District Judge Jed Rakoff ruled investors can pursue antitrust claims against banks for conspiring to fix prices of bonds from Fannie Mae and Freddie Mac. According to the article, there are… Read More »
” Can you hear that? Do your hear the rumble? It’s a train going 80 mph toward a 25 mph curve” There is an excellent article by Richard Hagar,SRA that hit everyone’s email this morning from Working RE Magazine. The title of the article is Why “Bifurcation” Won’t Work. This is an excellent read and… Read More »
Appraisal Buzz published an article written by Joshua Walit on July 31, 2019 titled Nothing New Under the Sun: The Varied Face of Appraisal. The article brings up some good points, however; it does not take into account the reality of the market and the control of the lenders and appraisal management companies in the… Read More »
The Virginia Real Estate Appraiser Board met for its quarterly meeting yesterday. We are happy to report CoesterVMS no longer has a license to operate in Virginia. The Board voted to accept the consent order accepting the voluntary surrender of his license. The Board also passed a motion to draft legislation to be introduced into… Read More »
Is going deeper into debt the way to get out of debt? Bloomberg has reported Stearns Lending LLC has filed for Chapter 11 Bankruptcy. Stearns blames rising interest rates as the cause for the $1.16 billion in liabilities and has only 1.22 billion in assets. The restructuring of Stearns involves acquiring a $35 million… Read More »
VaCAP has learned that another AMC might be having financial difficulties. There are conversations currently taking place in two appraiser groups on Facebook. The discussions are in 100% Real Estate Appraisers and Appraisal Client Search and revolve around a bounced check from an appraisal management company. The comments are varied and some are stating they… Read More »
Most Americans associate July 4th with fireworks, barbecues and vacations. Sure, we all know July 4th is about freedom and independence, but is that the first thing that comes to mind when someone says July 4th? Since the Declaration of Independence was signed 243 years ago, the United States has grown, not only in population,… Read More »
The Virginia Coalition of Appraiser Professionals has submitted an official comment to the ASC opposing the State wide appraisal waiver request in North Dakota. VaCAP has submitted a public comment expressing concerns over the much larger consequences in allowing such a request. A blanket waiver of appraisals up to $500,000 for a 5 year period… Read More »
Just when you put something into long term memory, it reappears. VaCAP was informed the Court case Skapinetz vs CoesterVMS.com has been decided. The Judge has ordered summary judgement in favor of Mark Skapinetz on all counts. See the court order summary below Thank You for Being Part of VaCAP!
What is it going to take for every appraiser to comment on Town Hall concerning the proposed Guidance Document on hybrid appraisals? Even if you have no intentions of ever completing a hybrid appraisal, it is important for you to place a comment on Town Hall concerning the document and these questionable products. If appraisers… Read More »