Category Archives: Appraising

News from the Appraisal Institute Northern California Chapter Annual Spring Conference

In March, I once again traveled to Modesto, Calif., and attended the Annual Spring Conference of the Appraisal Institute’s Northern California Chapter. This month, I will share some useful and interesting information from the presentations. The conference focuses on the California market, but many of the presenters also covered topics related to the national market.

The first session was “State of the Appraisal Profession;” the speaker was Lance Coyle… Continue reading

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AppraisalPort Weekly Poll Analysis

appraisalport

This month, I featured three recent polls that were very popular. The first one asked a key question for most appraisers: “I think the business environment for appraisers in 2014 is going to be …” This poll collected a total of 5,460 responses and the top answer was, “About the same as 2013” receiving 35 percent of the vote… Continue reading

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January is the Month of New Beginnings, Part 2

cfpb

TILA Appraisals for Higher-Priced Mortgage Loans (Regulation Z)

The Dodd-Frank Wall Street Reform and Consumer Protection (Dodd-Frank) Act created several new categories of loans. One of those categories is “higher-risk mortgages.” Just to be confusing, “higher-risk mortgages” are called “higher-priced mortgage loans” or HPML in the regulations. In addition, they are not the same as the “High-Cost Mortgage”… Continue reading

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January is the Month of New Beginnings, Part 1

property data

My, how they have been busy. The Consumer Financial Protection Bureau (CFPB) has an entire wagonload of regulations going into effect in January. If you are a mortgage lender, this has been hard to miss.

Arising from the mandates of the Dodd–Frank Wall Street Reform and Consumer Protection Act (or Dodd-Frank) the CFPB issued a wide-ranging set… Continue reading

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FNC Webinar: Higher-Priced Mortgages & Other Regulatory Changes

To access the PowerPoint, Q&A, and audio files from FNC’s Nov. 19 webinar on regulatory changes, click here.

This webinar addressed higher-priced mortgage loans and the new appraisal requirements; new requirements around delivering copies of appraisals and other valuations to borrowers; and ongoing changes to the GSEs’ UCDP portal… Continue reading

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AppraisalPort Poll Analysis: Appraiser Shortage

I have three AppraisalPort polls to discuss that are all related to a possible future shortage of appraisers. First, we asked, “With few new people currently entering the appraisal profession, do you foresee a shortage of appraisers at some point?” This was a popular poll with a total of 5,698 responses. The top answer with nearly 47% of the vote was, “Yes, in the next few years.” An additional… Continue reading

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Appraisal Guidelines from Residential Chief Policy Roundtable

In the August edition of the AppraisalPort newsletter, I reported on some of the general information covered at the National AI Connect Conference in Indianapolis, July 23-25, 2013. This was a great conference, covering a wide range of topics. This month, I want to pass on some information covered in one of the breakout sessions for residential appraisers.

The session was titled, “Residential Chief Policy Roundtable” and included… Continue reading

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More Uniform Collateral Data Portal (UCDP) Hard Stops Are Coming

In the June 2013 issue of the AppraisalPort Newsletter, we covered the first set of UCDP hard stops that Fannie Mae and Freddie Mac issued. On Aug. 27, 2013, both agencies issued joint releases regarding updates to the UCDP Portal, specifically referring to the next wave of Uniform Appraisal Dataset (UAD) edits that will convert from a “warning status” to “fatal error” that will cause a “hard stop” on the… Continue reading

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The Importance of being Earnest: Data Verification in Appraisal Compliance.

When the Home Valuation Code of Conduct (HVCC) was instituted, many lenders began outsourcing their appraisal procurement and other collateral valuation process to AMCs as they felt it was easier to stay in compliance using a third party.  Putting it simply, HVCC was intended to increase oversight and eliminate improper pressure and relationships between lenders and appraisers. Since the advent of the HVCC, now replaced by the very similar Appraiser… Continue reading

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AppraisalPort Weekly Poll Analysis: Property Data

property data

This month, I want to first discuss a couple of AppraisalPort polls dealing with property data. First we asked, “How would you feel about your client sending you detailed information about the subject property and possible comps as part of the assignment?”

We had 5,224 responses and almost as many emails. This one really seemed… Continue reading

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