appraiser outlook Blog Posts

Monday, May 16, 2016

Let me admit to one very important fact…I am old. At least I assume I am since I am over 60. In any event, much of what I know about the cyclical nature of real estate is not based on any scholarly papers I have researched and presented, but rather it is due to the fact that in my professional career I have seen four different downturns in real estate and from that I have gained what is known as real world experience. In other words, I am old, but my memory still works.

Wednesday, April 20, 2016

Recently I had the opportunity to work on a Class Action case. The case settled, and there are confidentiality agreements for both sides, so I cannot reveal any details. I will summarize the allegations and findings, as well as the scope of work performed.
I should say also that before being hired, I was interviewed, and vetted. Every reference provided, was contacted, as well as a records check and background check.

Friday, January 23, 2015

The Network of State Appraiser Organizations has prepared a letter to Melvin L. Watt, Director of the Federal Housing Finance Agency (FHFA), addressing the concerns appraisers they represent have with FNMA's Collateral Underwriter (CU) program. The Organizations' stance is that since the data is originated and collected primarily through appraisal reports it should be made available to appraisers in addition to lenders, mortgage companies, and AMCs. We agree.

Tuesday, November 11, 2014

a la mode and National Data Collective Form Partnership to Offer Real Estate Data Services to Appraisers

                                                                   

November 10, 2014 Naples, FL — a la mode announced today that NDC (National Data Collective), a leading national provider of property data for real estate professionals, has agreed to integrate its data products with a la mode’s full range of appraisal formfilling systems.    

NDC...

Tuesday, November 11, 2014

The GSE’s have mandated that all appraisals be submitted in the UAD format; however, currently there are no plans to provide appraisers access to this data. This data needs to be provided to appraisers at the beginning of the appraisal process; ensuring transparency, and improving the process by reducing risk to lenders and the general public.

Wednesday, November 5, 2014

Representatives of several independent state professional appraiser organizations met in Chicago, Illinois on Saturday October 11th, to further discuss collaboration on issues affecting their membership. The network, which started as a conversation among three State appraiser organizations less than a year ago, now comprises 16 such State Organizations which is expected to continue growing.

Wednesday, November 5, 2014

In Willemsen v. Mitrosilis (DJDAR 13957, Oct. 16, 2014), the California Court of Appeal, Fourth Appellate District, Division Three held that a third party purchaser of real estate (purchaser) was unable to maintain a claim for negligent misrepresentation against the lender’s real estate appraiser (appraiser) since the appraiser did not intend to supply the purchaser with information to influence his decision to purchase the appraised property.

Monday, October 27, 2014

Today, banks and savings and loans have loan origination offices or mortgage brokers spread all over the U.S. making as many home loans as possible with no intention of holding and servicing the loans they fund. The mortgage loan department funds or buys loans in cities nobody at the bank has ever even visited, let alone actually knows and understands.

Monday, August 11, 2014

Non-lender work is growing in popularity, as appraisers have grown weary of outrageous AMC demands and competing for low-ball fees. But the grass isn’t always greener on the other side: non-lender work has its cons, and AMC work has its pros. Don’t believe us? We’ve laid out some of the pros and cons of both types of appraisal work.

Tuesday, July 15, 2014

To say that there has been an enormous change in the real estate industry over the last few years is an understatement. Appraisers have taken most of the fall for the housing crisis, and continue to experience the effects of the fallout. Here are five critical issues that will continue to impact our industry if we don’t take a stand and fight back now.