Posts Tagged: Appraisals

1004D Appraisal Update vs. Completion Certification (Final Inspection): What is the difference?

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Form 1004D serves two distinct purposes and the scope of work for each is different.  Please see below for specific ordering instructions with Valuation Management Group (VMG). The top section of the 1004D is used to update a previous appraisal and to certify that the market value has not declined. The appraiser is required to… Read more »

Appraiser Independence

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VMG provides an Appraisal Independence Requirement (AIR) certification to our clients for each appraisal assignment we manage. The AIR certification states (among other things) that there was independence in the assignment of the order to the appraiser and that no inappropriate communication relating to or having an impact on valuation between the client, the appraiser… Read more »

Fannie Mae FAQs

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 Part 8 – “Guidelines for Using Market Conditions Addendum to the Appraisal Report (Form 1004MC): Finishing out the series on Fannie Mae FAQs, we are sharing Fannie Mae’s FAQ Attachment – Guidelines for Using Market Conditions Addendum to the Appraisal Report. This 2 page document provides valuable information about the purpose of the addendum and good… Read more »

Fannie Mae Providing Clarity to Upcoming Proprietary January 2015 UCDP Messages

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Starting January 2015, 21 Fannie Mae messages, that were previously warnings, will become hard stops. These new hard stops will lead to an unsuccessful UCDP submission. These messages will require action in order to receive a “successful” submission status in the UCDP. In addition, this December, numerous other Fannie Mae messages which were once implemented… Read more »

Bidding War Tips in a Sizzling Real Estate Market

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The good news is that the residential real estate market is recovering and even becoming “hot” in certain markets. The downside is that we are hearing stories from lenders that they have hundreds of pre-approved borrowers who cannot find a suitable home for which they are qualified to purchase. Improved demands for homes and limited… Read more »

Manufactured or Modular …Is There a Difference? – PART II

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As mentioned in our last article, there is a difference in manufactured homes vs. modular homes. There is also a difference in the details of appraising a manufactured or modular home. While we cannot go into all the differences here, we will mention a few items. A manufactured home must be permanently affixed to an… Read more »

Manufactured or Modular …Is There a Difference? – PART I

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Vicky Thompson, President and CEO of Valuation Management Group, grew up in North Carolina and the first home she purchased was a manufactured home. At the time, they were referred to as “trailers” or “mobile homes.” Manufactured home is the most recent label for what were once called “mobile homes” or “trailers.” They are relatively… Read more »

Quicker Appraiser Payments

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Valuation Management Group offers all appraisers the opportunity to receive payments directly to their bank account, eliminating the need to wait on the postal service and a trip to the bank.  Direct deposit is safe, easy, and so convenient.  It eliminates the possibility of lost, stolen, or forged checks.  Every week we hear from appraisers… Read more »

Valuation Management Group Receives Women’s Business Enterprise National Council Certification

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Valuation Management Group (VMG) has been in business since 2006 and had not considered applying for the National Women’s Business Enterprise Certification until Dodd Frank and the Proposed Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies. (10-25-13) VMG was awarded the WBENC certification in… Read more »

The Valuation Expo 2014 – PART II

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At the recent Valuation Expo 2014 in Las Vegas, one of the speakers asked the room of 400+ appraisers, “How many of you have read The Real Estate Appraisal and Evaluation Guidelines?” It was interesting that only a small number of hands were raised. There may have been a few that had read the guidelines… Read more »