Thursday , 1 October 2020

Features

What do appraisers look for during an FHA inspection?

What do appraisers look for when doing an FHA appraisal? These days it’s important to be in tune with FHA appraisal standards so your home can be FHA-ready or so you can know what to expect if accepting an FHA offer. Let’s talk through some of the most common FHA issues below. You can also download an FHA checklist to …

Read More »

Solving the Appraisal Pressure Problem

Appraisal Bias and Appraiser Pressure – Why All Appraisals are Always Wrong Real estate markets cooled down in the fourth quarter of 2014, and despite historically low interest rates, refinance volumes dropped as well[1]. The increasing pressure on lenders and real estate agents to maintain loan and sales volumes has brought about renewed interest in appraisal accuracy and increasing concern …

Read More »

Collateral Underwriting and Bigfoot

Let’s say you are a scientist studying, oh I don’t know…Sasquatch.  Due to the countless hours you have spent researching the topic, you are considered somewhat of an expert.  People look up to you for the academic and scholastic approach you take to the subject.  Due to the controversial nature of Bigfoot research, you are very careful to fully document …

Read More »

A Step In The Right Direction

With the new collateral underwriter, Fannie Mae, in my opinion, is trying to solve a legitimate problem in regards to how adjustments are derived and applied. Over the years, Fannie Mae has issued an increasing number of guidelines for lenders and appraisers. Astute lenders and appraisers took these guidelines as they were intended, as guidelines. Logic and market data were …

Read More »

Depreciated Cost, a Test of Reasonableness

With all of the clamor and excitement that Fannie Mae’s Collateral Underwriter (CU) is creating, we started working on a new article that addresses some possible solutions. In this one, we are expanding a bit on using the cost approach as a means to develop and support some adjustments. Each of the three traditional approaches to value can be used …

Read More »

Heating up the Appraisal Industry

While most the country was being battered with freezing temperatures and rain, sleet, or snow, members of the Collateral Risk Network met in Ft. Lauderdale, FL to talk about the compelling issues within our profession. The Buzz spoke with Joan Trice for a recap of last week’s conference. Buzz: Joan, can you tell us a little bit about the most recent …

Read More »

New Technologies for the Residential Appraiser

Buzz Interview with R. Wayne Pugh, MAI, CRE, FRICS Technology is steady advancing at such a rapid pace. There are so many tools and gadgets available to appraisers now days that the task of reviewing to find the best one can become very daunting. With appraisers in mind, we decided to set up an on-demand webinar regarding new technologies to …

Read More »

Fannie Mae’s CU is Here

It’s been called an “appraisal time bomb” by some, while others say it’s no biggie. Today I want to give you the scoop on what it is as well as some of the potential impact it might have. What is Collateral Underwriter? Collateral Underwriter (CU) is a property appraisal review tool created by Fannie Mae to help mortgage lenders manage risk. …

Read More »