Wednesday , 18 September 2019

Greg Stephens

Greg Stephens
Greg Stephens, SRA, MAA, CDEI, is a recognized subject matter expert in appraisal regulations and standards whose 37 years in the industry include owning a regional appraisal firm in Northern California, national lender QC/compliance and most recently as Chief Appraiser, SVP Compliance for Metro-West Appraisal Company LLC.

Analyzing and Reporting Market Trends in Residential Appraisals

Market Trends

One of the first things we are taught when learning real estate appraisal is the age-old adage, Location, Location, Location. What should also immediately follow that statement is that real estate markets are dynamic, seldom static and almost always in transition, with property values either increasing or decreasing. Numerous lenders are reporting that appraisers are identifying increasing prices and supply …

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The Appraisal Standards Board 2018-2019 Proposed Changes

USPAP 2018-2019

Observations & Summary Comments Changes to the 2018-2019 edition of the Uniform Standards of Professional Practice (USPAP) began  with the Appraisal Standards Board (ASB) issuance of the Discussion Draft in January 2016. The twelve-page document was exploratory in nature, intended to encourage feedback from all stakeholders to facilitate identification and or clarification of potential areas of improvement within the various …

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State of the Industry Update

As many of you may be aware, I have been collaborating with Joan Trice, members of CRN, members of the National Appraisal Congress and the National Association of Appraisers to raise awareness of concerns relating to the future of the appraisal industry. In conversations with chief appraisers and senior management at various lenders and appraisal management companies, many are reporting …

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Appraisal Review, A Sneak Peek

FIRREA, the Financial Institutions Reform Recovery Enforcement Act of 1989, Title XI, included the requirement for institutions engaging in federally related transactions to obtain an appraisal of the real estate asset to be used as collateral for the transaction. This requirement is found in §1110. Functions of Federal Financial Institutions Regulatory Agencies Relating to Appraisal Standards [12U.S.C. 3339] which states, …

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Regulating Real Estate Appraisers

First Came FIRREA, then Dodd-Frank. What’s the Next Wave in Oversight for Real Estate Appraisers? This article was first published in the March edition of the MReport here. For more digital magazines from the MReport visit digital.mreport.com The degree of oversight and regulation affecting the appraisal industry today got its roots as a result of the Savings and Loan (S&L) …

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