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FNMA Property Data Collectors Program Violates WV Law

Appraiserblogs

The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection. ARTICLE 38. THE REAL ESTATE APPRAISER.

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No Appraisals Required. The End of Appraisers?

Appraiserblogs

First, “third party” inspections. Appraisal trainees aren’t good enough, so now we will have unlicensed inspectors going through the homes of unsuspecting homeowners. And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. appeared on Appraisers Blogs. The End of Appraisers?

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The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

In many cases, this means that a person (who may or may not be an appraiser) collects information on the property via property inspection and a computer does the valuation. The person conducting the property inspection may not be licensed or have enforceable standards of practice, so the borrower experience can vary widely.

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The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

In many cases, this means that a person (who may or may not be an appraiser) collects information on the property via property inspection and a computer does the valuation. The person conducting the property inspection may not be licensed or have enforceable standards of practice, so the borrower experience can vary widely.

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5 Things To Consider When Getting A Hybrid Appraisal

Birmingham Appraisal

Currently, these data collectors have no standardized training or license requirements. A phone app would be utilized to post assignments and anyone willing to take on the assignment would grab it and complete the inspection. The next point considers the training of the property inspector.