There are numerous articles, discussions, and opinions regarding the third-party inspection process appraisal (step one) and subsequent appraisal and report (step two). While the nomenclature for this process is ever evolving, for the sake of this article, it will simply be addressed as the bifurcated appraisal process. The third-party inspection piece is the part of the bifurcation appraisal process which …Read More »
Mr. Murphy has an extensive background in the real estate appraisal field that began in 1978. With 40 plus years of experience in the field he developed a comprehensive knowledge and understanding of valuation related issues including but not limited to valuation techniques, risk management, credit policy and compliance, data integrity, and technology issues. During this time Bob held executive level positions in a financial institution, an appraisal management company, an independent appraisal company, as a sole proprietor, a government sponsored enterprise, and as a consultant. Bob’s appraisal experience specialized in high-end complex property appraisals, corporate relocation, litigation and traditional mortgage lending. In 2016 Bob started his own company Collateral Advisors LLC which provides consulting services on a wide range of collateral valuation issues. Immediately prior to that Bob was Director, Property Valuation and Eligibility at Fannie Mae. He joined Fannie Mae in 2000 where his role as a subject matter expert aided in the development of collateral valuation policies which included automated valuation policies, appraisal report forms, while also being responsible for the implementation of special projects such as the Home Valuation Code of Conduct and its successor, Appraiser Independence Requirements. As Director, Bob was responsible for Fannie Mae’s collateral valuation and property eligibility policies which are communicated through the Selling Guide, Announcements and Lender Letters. Additional responsibilities included policies relating to the development, implementation, and training regarding the Uniform Appraisal Dataset, Uniform Collateral Data Portal, and Collateral Underwriter as well as other projects that involved collateral issues from both a practical and credit policy perspective, such as Appraiser Quality Monitoring. He also presented Fannie Mae’s collateral policies and positions to numerous industry participants and government agencies as well as congressional staff. Bob is a former SRA and Appraisal Institute USPAP and residential appraisal course instructor.