A recent email circulated among appraisers from a large national appraisal management company stating recent market research of appraisal fees had been conducted and our fees will be changing. The email indicated that some fees increased and some decreased. The email also gave instructions on placing your fee into their system and they will… Read More »
The next Virginia Real Estate Appraisal Board Meeting will be held on July 30th, 2019 @ 10:00 AM. This meeting will be a historic meeting as the board will be discussing the proposed hybrid appraisal guidance document and the corresponding 153 public comments. Also on the agenda, CoesterVMS is listed under the disciplinary cases! Why… Read More »
HB 3619 has been referred to the House Financial Services Committee VaCAP has learned over the weekend that HB 3619 has been introduced in the US House of Representatives. HB 3619, Short titled “Appraisal Reform Act of 2019” amends the Financial Institutions Reform, Recovery and Enforcement Act. The main change to FIRREA deals with… 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 »
VaCAP has learned the US House Financial Services Committee has concerns over Cryptocurrency and has requested a moratorium of Facebook until regulators and Congress have an opportunity to examine the issues and take action to protect consumers. “Because Facebook is already in the hands of over a quarter of the world’s population, it is imperative… 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 »