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loanDepot settles appraisal bias lawsuit 

Housing Wire

The changes include communicating to applicants that they have the right to request a reconsideration of value (ROV); explaining why an ROV is denied or the valuation is unchanged; and training its credit, valuation and customer service staff on the topic. But the company hasn’t admitted any fault.

Appraisal 354
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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. The opposing side in one of the cases required that a new valuation be completed by a state-certified appraiser. But then they had to hire me to perform an appraisal.

Appraisal 302
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation. In addition to mortgage work, they may do legal work, estates as well as many other channels of business. The abbreviations we use in our forms are in fact, data points for the GSEs.

Appraisal 397
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Hybrid Appraisals and the Associated Risks

Boston Appraisal

Also known as bifurcated appraisals, hybrid appraisals employ a more streamlined appraisal approach that involves separating the valuation aspect of an assessment from the property inspection portion. Finally, the appraiser is tasked with completing the valuation, which they typically do by utilizing data from MLS and other public records.

Appraisal 135
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The hybrid appraisal is here. Who benefits?

Housing Wire

A certification lightens the legal liability of bias. Both desktop and hybrid appraisals, according to Fannie Mae, “have the benefit of reducing contact between borrowers and appraisers, thus lowering the likelihood of valuations being affected by personal or unconscious biases.”. The State of Appraisals in 2022.

Appraisal 404
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3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

With a few quick online searches, in most areas, you can find the parcel number, legal description, and even some potentially comparable sales. Furthermore, sometimes zoning ordinances change and the legal use of the property may change so that the property might be more valuable being used for something other than as a residential property.

Appraisal 354
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A Log Home Valuation

Appraisal Buzz

The question is raised as to what is the real problem with log home valuation and what is the problem with appraisers working in the niche log home market? It’s apparent when someone has little to no knowledge regarding log home valuation. Most appraisers would gladly take a log home valuation class if it was offered to the public.

Valuation 396