Posts Tagged: appraisal process

Back to Basics – An Appraisal Process and Regulation Refresher

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Vicky Thompson, CEO, and Patrick McMillen, COO of Valuation Management Group, spoke at the Georgia Bankers Association’s 2016 Compliance Conference on September 16th in Macon, Georgia.  Their presentation was titled Back to Basics – An Appraisal Process and Regulation Refresher.  They presented pertinent information that compliance officers, as well as other employees of the bank,… Read more »

It’s Important that Borrowers Understand the Appraisal Process

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At Valuation Management Group, an appraisal management services company, we often hear apprehension and confusion from our clients’ borrowers with regard to the appraisal process. We want to consistently be a resource for our clients, prospective clients, appraisers and the general public. There is a great resource published by the Appraisal Foundation for potential and… Read more »

TRID & Appraisals – Advice from Valuation Management Group

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Effective August 1, 2015 under the new TRID (TILA-RESPA Integrated Disclosure) regulations, variances in the cost of appraisals will no longer fall into the 10% tolerance bucket, and only if a valid changed circumstance occurs can the cost of an appraisal to the borrower exceed what was disclosed on the Loan Estimate (LE). By habit,… Read more »

What Do Appraisers Really Do?

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  For many years, the appraisal process has been seen by many as mysterious. Valuation Management Group would like to take this opportunity to give an overview of the process of the appraisal. When an appraiser “inspects” a home or property, the inspection is really the “tip of the iceberg” of the work to be… Read more »

The Appraisal Process; How Can I Avoid Unexpected Delays?

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Lenders are under a lot of pressure to meet deadlines more than ever due to mandatory requirements to make disclosures to consumers and pending expiration dates for a lock on a specific interest rate around which an entire deal is structured.  Meeting deadlines is critical in today’s environment.  What can you do, as a lender,… Read more »

Bringing Clarity to the Appraisal Process

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There continues to be quite a bit of discussion about the topics of appraisal review, appraiser independence and client/underwriting requirements. In all areas of work, there must be goals and standards met to be able to determine completion of a task. When writing a sentence, the goal is to communicate an idea so the reader… Read more »

Learn To Manage and Minimize Issues In The Appraisal Process

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The appraisal system is under constant scrutiny, with both sides of the equation having strong opinions. We found this broadcast by CNBC asking, “Is the appraisal system broken?”     John Brenan, from The Appraisal Foundation, and Melissa Cohn, from The Manhattan Mortgage Company seem to agree on a few issues. For one, the experience… Read more »