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 »
The Louisiana Real Estate Appraiser Board has been hit with another legal battle. This time, imortgage, operating under the name Single Source has filed suit against the Louisiana Real Estate Appraisal Board claiming a violation of antitrust laws. This suit mirrors that of the FTC, which is currently paused by the Fifth Circuit Court.… Read More »
If you still believe a hybrid or bifurcated appraisal is USAP compliant, you may want to take a look at the article and disciplinary action posted on AppriasersBlogs today. An appraiser who completed a hybrid appraisal was fined $2,500 by the Georgia Real Estate Appraisal Board for 23 violations. Yes you read that correctly, 23… Read More »
..… the person providing property information to the appraiser must have entered into an agreement with the appraiser to do so. ……the person who provides to the VA fee panel appraiser information must sign the appraisal report in the “Appraiser” section of the left side of the appraisal report. See the announcement by the Veterans… Read More »
Over the past few weeks VaCAP has been hearing from our members on some of the concerns they have with how amcs are conducting themselves. It started when appraisers on the USDA panel received notifications that USDA was no longer ordering appraisals directly and that task has been outsourced. Verdi Consulting and Jones Lang LaSalle… Read More »
“Credible valuations of real property are critical to the health of the overall real estate industry; therefore the practice of bifurcated/hybrid appraisals must be regulated” There has been lots of talk over the past few weeks about bifurcated appraisal products. First came the announcement form Working RE Magazine they were conducting a survey on bifurcated appraisal… Read More »
As most of you know, VaCAP is on social media. We have Facebook, LinkedIn and Twitter accounts. We have many followers on each of these social media sites. Our communications are also posted on these accounts, sent via email and many are re-posted on appraisersblogs as well. This is one of the reasons we have… Read More »
That comes straight from Dr. Mark Calabria, the Federal Housing Finance Director that oversees Fannie and Freddie! In a prepared statement given to the US House of Representatives Committee on Financial Services, FHFA Director Mark Calabria did not hold back in his comments. “But in their current condition, Fannie Mae and Freddie Mac will fail… Read More »