Thursday , 1 October 2020

Features

Appraisal Institute Seeks to Prevent Appraisal Waivers

The Appraisal Institute (AI) joins with 35 industry groups in attempting to prevent the Fannie Mae and Freddie Mac (GSE’s) from issuing appraisal waivers by sending a letter to the chairs and ranking members of the Senate Banking, Housing and Urban Affairs Committee, and the House Financial Services Committee addressing its concerns. AI recommends the halt of the waivers until …

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The Appraisal Foundation Addresses the FHFA

On May 23, representatives from The Appraisal Foundation (Foundation) and other appraisal-related organizations met with officials from the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac (GSEs) regarding proposals being considered to waive appraisals for certain types of transactions. To emphasize the issues raised during the meeting and encourage FHFA to require further study before allowing the GSEs to …

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I’m Concerned with the Shortage…

I’m concerned with the shortage of young attorneys entering the legal profession. It’s a real problem, particularly in rural areas. Buzz around the internet and you’ll see how serious the issue has become. According to the American Bar Foundation Lawyer Statistical Report, in 1980 36% of the nation’s licensed lawyers were under the age of 35. By 2005, only 13% …

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Colorado Home Prices: High on Marijuana?

Locales That Allowed Retail Marijuana Sales Had Increased Price Growth On November 6, 2012, Colorado voters made history by passing Amendment 64 legalizing marijuana for recreational purposes. Colorado became one of the first two states in U.S., along with Washington, to legally allow the possession, transportation, or purchase of a small, regulated amount of marijuana in public or at private …

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The Top 10 List

Valuation Expo continues to provide a top notch experience for appraisers year after year. This year, we’ve added some extra perks. If you haven’t registered yet there is still time to make plans. There are plenty of exciting things for appraisers at Valuation Expo. So we thought we would narrow it down to our top 10 reasons to attend. 14 …

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Cost Approach Innovation

Appraisal Buzz was recently introduced to Brent Bowen, a Dallas area appraiser who has been proposing a completely different way of looking at the cost approach, particularly for residential appraisers. We were able to ask Brent a few questions about the topic: Buzz: Tell our readers a little about yourself. Brent:  I am a residential appraiser working in the northern …

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A 12 Step Program for Fannie Mae and Freddie Mac

First admit you are not infallible Relinquish control over the appraisal process Allow a power greater than yourselves, an independent agency, to lead the way Make a fearless moral inventory of your policies and practices Confess the gaps and weaknesses in UCDP and underwriting systems Cease being arrogant and reckless Establish a research fund for the study of collateral risk …

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Indecision is a Decision

“Insufficient data is available in this market to determine price trends, therefore no time adjustments were applied.” This is a quote extracted from an appraisal that I was reviewing. It was a small duplex built in the 60’s and the market grid included every duplex purchased in the entire city for the past 6 years. That’s right. All 3 of them. I don’t …

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