Posts Tagged: Appraisals

The Valuation Expo 2014 – PART I

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The Valuation Expo 2014 recently concluded in Las Vegas, Nevada. I have attended the event for many years to take advantage of the excellent appraisal education. The opening session panel consisted of Robert Murphy, Director, Collateral and Valuation Policy for Fannie Mae, Gerald Kifer, Supervisory Appraiser for the Veterans Administration, David Burton, President of the… Read more »

Second-Home Sales Are On the Rise

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According to Fannie Mae and the National Association of Realtors (NAR), second or vacation homes – those that are neither investment nor primary residences – represented 13 percent of all purchase transactions in 2013 – an increase of 29.7 percent over 2012. This is the highest market share for second homes since 2006, although still… Read more »

Living in the World of Mortgage Acronyms

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“I submitted the UAD Appraisal Report to the UCDP for the GSE’s and it returned the SSR’s with FNMA Appraisal Findings and UAD warnings”? Have you heard a similar statement recently? Whether you are a bank, credit union, mortgage company employee, or an appraiser, there is a pretty good chance you have heard a similar… Read more »

Tips for Commercial and Residential Appraisal Reviews

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We are pleased that commercial and residential lending are increasing, but with this good news we want to remind lenders to establish and maintain policies on appraisal review that ensure compliance with Dodd Frank, Interagency Appraisal and Evaluation Guidelines, and Fannie Mae/Freddie Mac guidance. Many of these laws and guidance policies were established after concerns… Read more »

FDIC Releases Examination Procedures for Mortgage Rules

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The FDIC recently released interagency consumer compliance examination procedures for the mortgage rules issued pursuant to the Dodd-Frank Act. These procedures are intended to help financial institutions seek a better understanding of the areas that the FDIC will focus on as part of the examination process.  These procedures apply to Financial Institutions under $1 Billion in… Read more »

Spring Forward!

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The winter weather in January and February of 2014 has definitely impacted the real estate markets throughout the United States. Now we turn our attention to Spring and what is traditionally the season that buyers get active looking for new homes. We hope this Spring is going to be early and energized. As we begin… Read more »

New Consumer Protection Rights

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The CFPB has created a consumer guide that many lenders are probably not aware of. It is titled, “What the new ECOA appraisal and other valuations rule means for consumers.” Click Here to View Guide. It explains how the lender cannot discriminate because of race, color, national origin, sex, religion, marital status, age, income from public assistance,… Read more »

Consumer Confidence on the Rise

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A recent report released by Prudential Real Estate found that the number of consumers that are positive about the residential market in 2014 has grown more favorable in December. Of those surveyed, 78 percent of consumers are optimistic toward the residential market in 2014. This is a 5-point increase from the previous quarter. The report… Read more »

Understanding New Appraisal Regulation in 2014

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On January 22nd and February 3rd VMG presented a webinar on the following key topics listed below. If you click on read more, you will find a link to the PDF version of this webinar and the actual feed to the webinar itself. 1. On January 26, 2014, Fannie Mae and Freddie Mac (the GSEs) will… Read more »

USPAP – What is it Exactly?

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USPAP is the acronym for Uniform Standards of Professional Appraisal Practice.  You often hear the term USPAP, either in the context that an appraisal must be USPAP compliant or that an appraiser needs to make revisions to a report in order for the report to be compliant with USPAP.   The specific certifications that are found… Read more »