Posts Categorized: Blog

USDA Handbook Revisions Will Soon Be Effective

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Valuation Management Group wants you to be up to date on the most recent industry changes.  The USDA is revising Handbook HB1-3555. The effective date is March 9th, 2016.  The revised handbook can be accessed by clicking HERE. Additions to the handbook for Residential Appraisal Reports located in Chapter 12 are: USDA may be added… Read more »

Valuation Management Group Presents New E-Brochure

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Valuation Management Group has been reflecting on change as we begin celebrating our 10 year anniversary.  We have dust settling on our binding machine and booklet sleeves, while our printed brochures sit sealed in a closet.  With technology, paper is becoming more and more a thing of the past.  Valuation Management Group recognizes the need… Read more »

Appraisal Institute’s Review Theory-General Course

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Valuation Management Group’s Vice President of Commercial Quality Control, Shannon Reyome, recently attended the Appraisal Institute’s Review Theory-General course in Ft. Lauderdale, Florida. This class is required as part of the Appraisal Institute’s AI-GRS designation program. The AI-GRS designation represents advanced appraisal review knowledge, and stands for years of proven, real-life real estate appraisal review… Read more »

Residential Appraisal for HUD’s CWCOT Program

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Valuation Management Group recently became aware of a HUD program called Claim Without Conveyance of Title (CWCOT), and we wanted to inform our readers. The CWCOT program encourages 3rd parties to purchase homes at foreclosure sales by allowing bids less than the total debt owed on a property. The objective of this program is to… Read more »

Valuation Management Group Attends Collateral Risk Network Meeting

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Valuation Management Group’s CEO, Vicky Thompson recently attended the Collateral Risk Network meeting in Fort Lauderdale, Florida. Collateral Risk Network (CRN) is a group of dedicated chief appraisers, collateral risk managers, regulators and valuation experts who are focused on resolving the many challenges facing the appraisal profession. CRN is represented by lending institutions, Wall Street,… Read more »

Commercial & Residential Desk Reviews

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Valuation Management Group has been made aware of a trend recently whereby some financial institutions have been cited for not having the appropriate level of review commiserate with the loan amount or credit risk. We strive to be proactive on the behalf of our clients and want to address the trend. We urge each of… Read more »

Valuation Management Group Discusses Ordering FHA Finals

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On September 14, 2015, new FHA Guidelines were released and include clarification regarding the form type that is to be used for final inspections. In the past, Valuation Management Group’s clients would order the final using just the 1004D final form, but now there are 2 different forms. The other form is the FHA Compliance… Read more »

Real Estate Appraisal Reviewer Experience and Knowledge

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Interagency Appraisal and Evaluation Guidelines clearly state that appraisals must be reviewed to ensure they comply with appraisal regulations. The review process should assess the reasonableness of the appraisal including valuation methods, assumptions, data sources users, and that the entire report is well supported. The reviewer should be independent and have the appropriate education and… Read more »

Value Scenarios: As Complete vs. Upon Completion

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Valuation Management Group’s Real Estate Appraisal Reviewers often encounter what appears to be a common misunderstanding about which value scenario should be used in handling proposed construction in an appraisal report, the hypothetical “As Complete” value scenario or the prospective “Upon Completion” value scenario. The former is based upon a hypothetical condition that the construction… Read more »

Why Appraisers Should Take That Extra Step When Doing Research

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Valuation Management Group has seen a rise in the number of revisions being made to the comparable sales after the original submission of an appraisal report. Here are a couple of recent examples: Comp Example 1: The photos provided by the appraiser show a home that has a new roof, updated kitchen, updated bathrooms and… Read more »