Posts Tagged: appraiser

Young Adults Interested In Real Estate

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As the President of Valuation Management Group, I have had the opportunity to speak to many different audiences in my 24 year real estate appraisal career. I recently had the opportunity to share my experience and thoughts about the appraisal industry with a unique group of young adults. The audience was high school seniors at… Read more »

Valuation Management Group Announces Fannie Mae Selling Guide Announcement SEL-2017-01 – Appraiser Guidance

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Valuation Management Group strives to keep its clients and appraisers informed about best practices in the real estate appraisal arena. On January 31st, 2017, Fannie Mae announced some changes effective immediately. The appraisal changes that were announced involve comparable sales in new projects or subdivisions. Prior requirements stated the appraisal must include at least one… Read more »

Valuation Management Group to Co-host Webinar with Fannie Mae – Collateral Policy & Technology Guidance for Appraisers

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VMG is pleased to announce great news for residential real estate appraisers. Fannie Mae is presenting a free webinar just for appraisers. Mark your calendars for February 22, 2017, 11 AM EST. Register for the event by CLICKING HERE! Registration is limited, so register today. Julie Jones, Fannie Mae Credit Risk Analyst will be the… 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 »

Common Real Estate Appraisal Omissions/Errors

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Valuation Management Group, working as an appraisal management services partner for banks, credit unions and mortgage brokers, completes appraisal reviews nationwide.  We see many common omissions and/or errors in appraisal reports. We thought it would be helpful for us to share some of the more common errors or omissions that VMG encounters to assist our… Read more »

The Importance of a Qualified Review Appraiser

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An appraisal review can be a technical review, desk review, or field review of an appraisal by an experienced, competent, qualified review appraiser. Since an appraisal review is a key quality control element in the credit or risk decision process, the importance of having an experienced, qualified, and knowledgeable appraiser performing reviews cannot be overemphasized…. Read more »

Fee Simple Estate vs. Leased Fee Estate

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Valuation Management Group’s Real Estate Appraisal Reviewers often encounter what appears to be a common misunderstanding about which portion of an estate should be valued when a client and/or intended user request an appraisal report: the Fee Simple Estate or the Leased Fee Estate. Based upon the definitions from the Dictionary of Real Estate Appraisal… Read more »

To Text or Not to Text: Keeping a Personal Touch

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Valuation Management Group received a recent call from one of our clients expressing concern that their borrower was contacted by the appraiser via a text message and not with a phone call. The client’s concern was that a phone call should have been made first, as a text message was perceived by their client as… Read more »

Understanding Collateral Underwriter (CU)

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The week of December 15, 2014, Valuation Management Group started seeing the Collateral Underwriter (CU) risk flags and specific warnings. Fannie Mae stated that CU would be in place beginning January 26, 2015, but for some clients it started this week, as part of a pilot group. It is very important for appraisers to understand… Read more »

Are You Ready for Collateral Underwriter?

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Collateral Underwriter (CU) is the proprietary appraisal risk assessment application developed by Fannie Mae to support proactive management of appraisal quality. CU will be active at the time of upload to the UCDP on January 26, 2015. Lenders may use the CU risk score to segment appraisals by risk profiles. Risk Flags identify appraisals with… Read more »