Valuation Management Group’s quality assurance reviewers routinely review a variety of appraisal reports covering nearly every property type imaginable. Occasionally clients, appraisers, and other users of appraisals will ask our opinion on Gross Living Area and its calculation. Gross Living Area (GLA) is the term used in most residential appraisal reports. GLA is defined by… Read more »
Valuation Management Group’s quality assurance reviewers routinely review a variety of appraisal reports covering nearly every property type imaginable. Occasionally clients will ask our opinion on the size of the building; they have concerns if the appraiser measured correctly or they may not be familiar with what area is included in the calculations provided. Our… Read more »
Fannie Mae has published a summary of their 2017 communications in a job aid summary – In Case You Missed It. The job aid lists and summarizes each selling guide announcement, lender letter and DU/DO (Desktop Underwriter/Desktop Originator) release note that were issued during 2017. Fannie Mae published 68 announcements, lender letters and DU/DO release… Read more »
As part of Valuation Management Group’s appraisal review process, the quality assurance reviewer is ensuring that the USPAP required concept of exposure time is addressed and supported, and differentiated from the estimated marketing time. USPAP defines Exposure Time as the “estimated length of time that the property interest being appraised would have been offered on… Read more »
We invite you to join us for a complimentary appraisal webinar – The Power of Income which will be presented Thursday, January 25, 2018 at 11:00 a.m. EST by Crispin Bennett. Crispin currently serves as the Chief Appraiser for Finance of America, Commercial Lending. He has previously held positions as Chief Appraiser and Vice President… Read more »
When it comes to fees and the issue of transparency, all appraisal management company (AMC) operating models are not equal. While there are variations, AMC’s generally operate under one of two business models – Cost-Plus or Fluctuating. For purposes of this blog, we will be referring to non-complex residential assignments. Transparency signifies openness, communication, and accountability; something… Read more »
Valuation Management Group, as part of our appraisal management services, strives to keep our partners updated on industry related issues. The FHA published Mortgagee Letter 2017-16 on December 8, 2017 announcing 2018 nationwide maximum mortgage limits for FHA-insured forward mortgages. The limits for low cost areas are set at 65 percent of the national conforming… Read more »
Please join Vicky Thompson, President of Valuation Management Group, LLC at the NAPMW Atlanta December luncheon on Tuesday, December 19. The luncheon will be held at the Capital Grille located at 94 Perimeter Center West, Dunwoody, GA 30346. Please click here to sign up! The National Association of Professional Mortgage Women (NAPMW) champions the advancement… Read more »
Valuation Management Group, as part of our appraisal management services, strives to keep our partners updated on industry related issues. The Federal Housing Finance Agency (FHFA) announced on November 28th, that for only the second time since the housing crisis, the maximum base conforming loan limits will increase again in 2018. The 2017 increase… Read more »
Many clients utilize or have noticed our SMART products in the dropdown box of available report options. As a result, we receive a handful of calls and questions each week wanting to understand “What is a SMART?” It is a tool for our clients to obtain a reliable, inexpensive, and timely commercial appraisal report. SMART… Read more »