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Appraisal bill would combat legacy of redlining

Housing Wire

Legislation in Congress would try to solve for inconsistencies in appraisal underwriting, a lack of diversity in the profession, and the legacy of property valuation discrimination. Emanuel Cleaver (D-MO) and Rep. The Consumer Financial Protection Bureau would designate the chairperson of the body.

Appraisal 382
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NAR and Representation of Appraisers

Appraiserblogs

These junk reports and the waivers continue to undermine the public trust in our industry and leave the appraisers exposed to great risk and the consumers left holding the bag if their mortgage goes south. Public Trust If the ASC grants the request for appraisal waivers, the precedent will have been set for other banks to follow.….

Appraisal 133
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The Value of Words in Valuation

Appraisal Buzz

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. The post The Value of Words in Valuation appeared first on Appraisal Buzz. Summary, What Does it Mean?

Valuation 360
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3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? Isn’t that all that appraisers do?

Appraisal 354
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How to Choose a Real Estate Appraiser

McCarthy Appraisal Blog

The two basic licenses are Certified Residential Real Property Appraiser and Certified General Real Property Appraiser. Loan officers are typically looking for an assessment of the condition of the house and a rough market value to put on the mortgage documents. Ask an appraiser about their education and licensing.

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5 Ways to Survive a Slow Real Estate Market as an Appraiser

McKissock

” Offer more valuation products (11%) Another recommended strategy is to offer more valuation products in addition to traditional appraisals, such as desktops, hybrid appraisals, evaluations, etc. ” “Pay off mortgage and all bills, grow a money market account, relax.” ” “Expand [your] market.”

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What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. ” McKissock has offered courses on mortgage fraud for decades. Written by Steven W.