Appraisers have some very strong opinions on computer driven appraisals. Others are noticing the dangers as well. It is more than just automated valuation models though. In an article written by Danielle DiMartino Booth, for Bloomberg , Fannie Mae and Freddie Mac are specifically called out on their appraisal waivers. The author compares the dangers… Read More »
This is a call to action! Comments on the proposed changes to the 2022-23 USPAP are needed The proposed changes to the reporting requirement of Standard 2 may impact the profession negatively and confuse the public on who we are and what we do. We ask that each and every one of you pause for… Read More »
VaCAP has just learned of a meeting on July 22 to discuss and vote on proposed changes to the square footage calculation under ANSI guidelines. The proposed changes were published for public comment which closed in March. The meeting, which is described as a virtual Consensus Committee Meeting is open to the public, however you… Read More »
Those fine outstanding law abiding people at Wells Fargo are at it again! This time the fraud is against the United States Bankruptcy Court and as usual, their very own customers. Wells Fargo’s explanation……. The Covid-19 Pandemic! Wells Fargo is using the Covid-19 virus as the excuse for placing borrowers currently under Chapter 13 bankruptcy… Read More »
THE CON ~ AN IN-DEPTH INVESTIGATION INTO THE 2008 FINANCIAL CRISIS: WHO DID IT, WHY IT HAPPENED, AND HOW THE CON IS WHAT WE ARE AND THE REASON EVERYTHING IS $CREWED UP. Executive Produced by ADAM BRONFMAN Produced by PATRICK LOVELL Written and Directed by ERIC S. VAUGHAN If you attended the Appraisers Economic… 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 »
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 »
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 »
Last week we shared with you Congresswoman Maxine Waters and Congressman William Lacy Clay requested a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. VaCAP has learned GAO has agreed to complete the study. The Network of State Coalitions has sent the following to their state… Read More »
Some are for and some are opposed. It is a business decision on which types of assignments you choose to accept. If you choose to complete a hybrid or bifurcated appraisal, you need to pay attention and ask yourself a few questions. Is the fee I am receiving for completing this assignment reasonable for the … Read More »