VaCAP has been following the Clarocity Corporation Soap Opera since one of our members had trouble getting paid from them back in November of 2017. After doing a bit more research on them, we issued a warning to our members in December 2017 to pay attention as Clarocity was in financial trouble. We kept watching… Read More: Proceed with Caution »
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: Price Fixing, Who’s Shocked? »
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: Is This Fraud or What? »
February 5, 2019: This is the last day to submit comments to Federal Agencies concerning raising the minimum threshold for appraisals from $250,000 to $400,000. As of this writing, 275 comments have been received. Come up folks, there are 70,000 plus appraisers in this country, and less than 1% have commented. Please comment and encourage others… Read More: Important Info & Dates »
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: The Shifting Narrative of Appraisal Modernization »
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: Thank You Appraisers for Protecting the Public »