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 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 »

It Is Time to Ensure Your Financial Institution’s Appraisal Management and Review Process Is Compliant – Part III

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For the third and final part of VMG’s three part blog on better understanding appraisal management and compliance, we will discuss outsourcing of the appraisal management process and the benefits. Click here to read Part I: PART I – Selecting and Engaging the Appraiser or Part II: PART II – Quality Assurance Reviews Part III – A… Read more »

It Is Time to Ensure Your Financial Institution’s Appraisal Management and Review Process Is Compliant – Part I

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As a full service appraisal management company, Valuation Management Group selects and engages the appraiser, provides compliant quality assurance reviews, ensures appraisal compliance, efficiency, and can reduce expense for a financial institution. VMG is presenting a three part blog series to provide a better understanding of appraisal management and compliance. We will begin with selecting… Read more »