Appraiserblogs

APRIL 16, 2024

United Wholesale Mortgage (UWM) began an aggressive campaign in September 2021 to recruit appraisers for their new Appraisal Direct system, which aimed to cut out appraisal management companies as middlemen. The post UWM Underwriters Subsidized by Appraisers appeared on Appraisers Blogs.

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Appraiserblogs

FEBRUARY 28, 2024

On February 13th, 2024, the fourth ASC appraisal bias hearing took place. The hearing was a crucial event for the appraisal industry, and it is important for all appraisers to be aware of the discussions and topics addressed. The panel of witnesses included: David Bunton, President, The Appraisal Foundation E.C.

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JMV Lending

AUGUST 7, 2023

Today’s blog was written by JVM’s Appraisal Manager, Taylor Allen. She orders our appraisals, manages our appraisal team, carefully curates and manages our huge stable of appraisers, reviews appraisals, rebuts appraisals, provides comparable sales data, and understands loan guidelines.

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Appraisal Buzz

SEPTEMBER 25, 2024

BLOG VIEW: The Federal Open Market Committee (FOMC) on Sept. In our firm’s Touchless Lending Platform, AI is being leveraged to digest collateral more The post How AI Can Help Solve the Mortgage Industry’s Cyclical ‘Problem’ appeared first on Appraisal Buzz. It was the first rate cut since the early days of the pandemic.

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JMV Lending

JULY 19, 2024

We published this blog several years ago, and I am re-sending it with a very important addition. The addition is this: agents should focus especially on “inconvenient” (low-priced) comparable sales. […] The post What To Say To Appraisers? A Lot – But In the Right Way appeared first on JVM Lending.

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JMV Lending

JULY 20, 2022

I blogged several years ago about Why Appraisers Don’t Like “Cost Per Square […]. The post Why Appraisers Adjust So Little For Size Differences appeared first on JVM Lending. So, if a nearby house is 2,200 square feet, it should be worth an additional $80,000 (200 sq ft x $400), right? Not even close.

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JMV Lending

JULY 29, 2024

The total number of appraisers is dwindling so fast that Fannie and Freddie are desperately looking for solutions – and appraisal waivers are just one of them. The post Appraisal Waivers Galore – But NOT for CA; Key Reminder For Borrowers Making Multiple Offers appeared first on JVM Lending.

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Appraisal Buzz

AUGUST 22, 2024

Looking ahead, the MBA remains cautiously optimistic about the commercial and multifamily lending landscape. According to CommercialEdge Blog , more than 1.2 The post Commercial and Multifamily Borrowing Experiencing Gains appeared first on Appraisal Buzz. billion square feet of office buildings (14.8%

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JMV Lending

OCTOBER 11, 2021

The WSJ had this front page headline today: Low Appraisals Upend Home Sales. Then, I thought… I should blog about this b/c agents can share this with clients – as a great way to warn them about potential appraisal issues. The post WSJ: “Low Appraisals Upend Home Sales” appeared first on JVM Lending.

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Appraiserblogs

JULY 31, 2023

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting. Related Posts: 'Pesky' Words.

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Appraiserblogs

JANUARY 6, 2023

The appraisers are the convenient scapegoats every time. Anytime the real estate market takes a hit, 99% of the time it is because of banking and lending practices. The appraisers are the convenient scapegoats every time. A Low Appraisal is Now a Bad Appraisal A low appraisal is now a bad appraisal.

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Appraiserblogs

APRIL 6, 2023

In response to the Federal Housing Finance Agency’s (FHFA) decision to allow Fannie Mae to expand its appraisal waiver program, the American Society of Appraisers (ASA) has released an op-ed by ASA’s Strategic Partnership Officer, John D. Fannie Mae’s decision to waive/eliminate property appraisal for lending… No Appraisals Required.

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Appraiserblogs

JULY 26, 2023

Appraisers, on July 17, 2023, a document from Freddie Mac was circulated to numerous appraisers around the US which identified certain words and other info that can be considered to be ‘BIASED’ in appraisal reports. In many ways, appraisers forget the purpose of the appraisal assignment – which is to value real estate.

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Cleveland Appraisal Blog

AUGUST 25, 2022

Today, Cleveland Appraisal Blog shares a few tips for first-time investors. Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree. Cleveland Appraisal Blog offers a wealth of free information on every aspect of the appraisal process.

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Appraisal Today

OCTOBER 11, 2024

A Q&A With Its Chief Appraiser Effects of Hurricane Helene Is Anywhere Safe From Hurricanes? The threat heard from appraisers is that this is yet another move by the GSEs to eliminate them. “If If we just make the appraisers (and non-appraisers) data-gatherers, we can do the analysis in house.” 35,000 sq.ft.

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Appraiserblogs

FEBRUARY 22, 2022

Appraisers, recent watercooler discussions by appraisers focus on the new ‘desktop’ appraisals many will be requested to do. Appraisers, I’ve…. Solution for Alternative Reports Lenders are having a problem finding enough appraisers to fulfill the number of 'alternative' reports. How will that be done?

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JMV Lending

SEPTEMBER 16, 2024

The Fed will announce a rate cut this week, and many pundits are now predicting a 50-basis point cut […] The post Why Appraising a Home For More Than Purchase Price Is So Difficult – For 12 Months appeared first on JVM Lending.

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Cleveland Appraisal Blog

SEPTEMBER 21, 2023

Did I give up on blogging and podcasting? However, over the past year, my business has been changing rapidly as I shift away from lending work to non-lender work as my primary business. Anyhow, I’ve missed blogging and I’m sorry for being gone so long. You may be wondering where in the world I’ve been.

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Riverfront Appraisals

FEBRUARY 5, 2021

This post is part two of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. In this blog post, we’re going to give you an appraiser’s perspective on unique homes, and […]. In case you missed part one, go back and read all about the Final Inspection process here.

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Appraiserblogs

NOVEMBER 11, 2022

It is gratifying when appraisers are correct, and the AVMs burn; unless you invested in their stocks. As an appraiser since the 80s, I have yet to find a computer that can tell me if I want vanilla or chocolate ice cream. Related Posts: Non-Appraisers Valuation Never Appropriate Here is a NAR deck on AVMs (automated valuation models).

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JMV Lending

MAY 13, 2024

In what is great news for every agent concerned about low appraisals - we have seen a significant increase in the number of Property Inspection Waivers (PIWs) and Property Data Collection reports (PDCs). The post Appraisal Waivers Are GIFTS From Fannie Mae; PIWs & PDCs; Appraisal Types appeared first on JVM Lending.

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Appraisal Today

SEPTEMBER 27, 2024

What does it mean for appraisers? The importance of these factors cannot be overstated, and they deserve careful consideration in every waterfront property appraisal. Water Frontage and Access One of the most critical elements in appraising waterfront properties is the type and extent of water frontage.

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Appraiserblogs

MAY 6, 2022

Several appraisers have informed us that they have received death threats simply because they have been outspoken online refuting the racial bias narrative and the allegations of racial discrimination in the appraisal profession that is being utilized to remove appraisers from the lending equation.

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Appraiserblogs

JUNE 5, 2024

They have consistently pushed down the pay of Appraisers while making undisclosed profit off consumers and prioritizing cheapest and fastest over quality and competency. As we all know many AMCs are not paying Customary & Reasonable fee as required by TILA. The AMC fee was $394.

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JMV Lending

AUGUST 11, 2023

This is exactly the type of volatility I predicted in Wednesday’s blog. Rates shot up because of Fed comments about inflation concerns yesterday and because of a higher-than-expected Producer Price Index print […] The post How Much Power Do Appraisers Have Over Market Values? appeared first on JVM Lending.

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Appraiserblogs

FEBRUARY 1, 2022

Fannie Mae’s sweeping new national condominium regulations… Appraisers, Fannie Mae has changed inspection and reporting requirements for Condominiums, effective January 1, 2022. The article titled “How can appraisers evaluate aging condos without docs?” AMC Sucker Punches Appraisers Class Valuation sucker punches appraisers!

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JMV Lending

JULY 17, 2024

We have seen an onslaught of low appraisals recently. The post “It’s Raining Low Appraisals” Why & What To Do appeared first on JVM Lending.

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Appraiserblogs

MARCH 27, 2023

Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending purposes is nothing more than wanton recklessness that could have serious repercussions in the future. The End of Appraisers?

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Cleveland Appraisal Blog

JANUARY 19, 2023

The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value. Have you heard of a property being overimproved, or super adequate?

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Riverfront Appraisals

JULY 1, 2021

For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.

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Appraisal Today

SEPTEMBER 20, 2024

percent from one week earlier Appraised Value Vs. Sale Price Converted $500K Minnesota Bank With Historic Vaults and Bulletproof Glass How AI Tech is Reshaping Appraisal Success From Panic to Profit: One Appraiser’s Story of Survival and Growth Cindy Chance Terminated (Appraisal Institute CEO) Mortgage applications increased 14.2

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JMV Lending

MAY 16, 2024

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. The post Low Appraisals – 6 Options When Appraisals Come In Low appeared first on JVM Lending.

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JMV Lending

MAY 31, 2024

I learned to appraise real estate in the early 1990s when the market was still cooling off from its 1990 peak. Our biggest account was with the exclusive lender for […] The post Why Appraisers Don’t Call Out Huge Builder Financing Incentives appeared first on JVM Lending.

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Simonson Real Estate

AUGUST 24, 2020

Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. . At Simonson Appraisals, our team works tirelessly to ensure those worries are needless. This allows us to continue to deliver well-reasoned and credible appraisal reports.

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JMV Lending

NOVEMBER 20, 2020

Hot markets foster appraisal issues – every time. This is b/c aggressive buyers in multiple bid situations frequently offer to pay far more for a property than what closed comparable sales can support in an appraisal. If buyers have ample cash, low appraisals are often not an issue, as buyers can simply bring in cash […].

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Appraiserblogs

JANUARY 5, 2024

Appraisers, it seems this past year has been like furiously paddling against a giant iceberg containing frozen lending assignments in the North Atlantic ocean while in a rowboat with one paddle! The entire 2023 has been one chilling episode in terms of mortgage lending appraisal assignments for appraisers.

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Appraiserblogs

OCTOBER 29, 2021

…I’ve discovered a potential anomaly in Desktop reports (and Hybrids also) which might shock some appraisers… Desktop Appraisals, Panaceas for Faster Reports. The current line of thinking... Related Posts: Appraiser Shortage Lie & Propaganda AI research piece is at best propaganda and at worst, a lie.

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