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Appraisers Liable for Third Parties Data

Appraisers Liable for Third Parties Data

Ultimately the appraiser is responsible and liable for data collected by third parties. There has been a lot of discussion and debate among appraisers around liability issues for data collected by third parties for hybrid and desktop appraisals. On April 22, 2022, the Maryland Commission of Real Estate Appraisers cautioned its appraisers that they are responsible for the data they rely upon. Hello Maryland Appraiser: It has come to the attention of the Maryland Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors (“Commission”) that there may be confusion over where a supervising appraiser and trainee are supposed...

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Appraisers Liable for Third Parties Data
Appraisers Liable for Third Parties Data
Appraisers Liable for Third Parties Data
Appraisers Liable for Third Parties Data
appraisersblogs appraisersblogs | 1 year ago
Ultimately the appraiser is responsible and liable for data collected by third parties. There has been a lot of discussion and debate among appraisers around liability issues for data collected by third parties for hybrid and desktop appraisals. On April 22, 2022, the Maryland Commission of Real Estate Appraisers cautioned its appraisers that they are responsible for the data they rely upon. Hello Maryland Appraiser: It has come to the attention of the Maryland Commission of Real Estate Appraise...
Ultimately the appraiser is responsible and liable for data collected by third parties. There has been a lot of discussion and debate among appraisers around liability issues for data collected by third parties for hybrid and desktop appraisals. On April 22, 2022, the Maryland Commission of Real Estate Appraisers cautioned its appraisers that they are responsible for the data they rely upon. Hello Maryland Appraiser: It has come to the attention of the Maryland Commission of Real Estate Appraise...
Appraisers Can Do These Property Data Reports for Appraisal Waivers
Appraisers Can Do These Property Data Reports for Appraisal Waivers
Appraisers Can Do These Property Data Reports for Appraisal Waivers
Appraisers Can Do These Property Data Reports for Appraisal Waivers
appraisersblogs appraisersblogs | 1 year ago
Appraisers, on Tuesday 5/24/22, an AMC sent a message to their appraiser panel appraisers asking them if they’d like to ‘help their lender clients’ by doing Property Data Reports (PDR). Let’s decipher what this is all about. Freddie Mac has decided, that as of Sunday, July 17, 2022, they must have a PDR (Property Data Report) completed “by someone” in order for the loan applicant to qualify for an appraisal waiver in conjunction with a mortgage loan. In other words, actual qualified...
Appraisers, on Tuesday 5/24/22, an AMC sent a message to their appraiser panel appraisers asking them if they’d like to ‘help their lender clients’ by doing Property Data Reports (PDR). Let’s decipher what this is all about. Freddie Mac has decided, that as of Sunday, July 17, 2022, they must have a PDR (Property Data Report) completed “by someone” in order for the loan applicant to qualify for an appraisal waiver in conjunction with a mortgage loan. In other words, actual qualified...
Corelogic Take on Appraisal Overvaluation - Appraisers Blogs
Corelogic Take on Appraisal Overvaluation - Appraisers Blogs
Corelogic Take on Appraisal Overvaluation - Appraisers Blogs
Corelogic Take on Appraisal Overvaluation - Appraisers Blogs
appraisersblogs appraisersblogs | 1 year ago
The results of this 2021 white paper: Appraisal overvaluation: Evidence of price adjustment bias in sales Comparisons co-authored by Frank Nothaft are pretty interesting. At first glance, I get the CoreLogic evil empire stuff, but step back and take it all in. Here’s the abstract.
The results of this 2021 white paper: Appraisal overvaluation: Evidence of price adjustment bias in sales Comparisons co-authored by Frank Nothaft are pretty interesting. At first glance, I get the CoreLogic evil empire stuff, but step back and take it all in. Here’s the abstract.
FHA Extends Appraisal Validity Period - Appraisers Blogs
FHA Extends Appraisal Validity Period - Appraisers Blogs
FHA Extends Appraisal Validity Period - Appraisers Blogs
FHA Extends Appraisal Validity Period - Appraisers Blogs
appraisersblogs appraisersblogs | 1 year ago
On July 12, 2022, the FHA announced that it is extending the initial appraisal validity period from 120 days to 180 days and the appraisal update validity period from 240 days to one year. This applies to case numbers assigned on or after June 1, 2022. This just seems like a bad idea at a time where many markets are seeing price declines. FHA INFO 2022-71 — July 12, 2022 In this Announcement: FHA Implements Revised Appraisal Validity Period Guidance Appraisal Logging Changes in FHA Connect...
On July 12, 2022, the FHA announced that it is extending the initial appraisal validity period from 120 days to 180 days and the appraisal update validity period from 240 days to one year. This applies to case numbers assigned on or after June 1, 2022. This just seems like a bad idea at a time where many markets are seeing price declines. FHA INFO 2022-71 — July 12, 2022 In this Announcement: FHA Implements Revised Appraisal Validity Period Guidance Appraisal Logging Changes in FHA Connect...
Appraisers voice opinions on AMCs, appraisal delays
Appraisers voice opinions on AMCs, appraisal delays
Appraisers voice opinions on AMCs, appraisal delays
Appraisers voice opinions on AMCs, appraisal delays
housingwire housingwire | 1 year ago
Appraisers cite AMCs and incomplete MLS information as major sources of delays, while agents cite...appraisers as source of delays. The post Appraisers voice opinions on AMCs, appraisal delays appeared first on HousingWire.
Appraisers cite AMCs and incomplete MLS information as major sources of delays, while agents cite...appraisers as source of delays. The post Appraisers voice opinions on AMCs, appraisal delays appeared first on HousingWire.
Lender Liability for a Negligent Appraisal? - Appraisers Blogs
Lender Liability for a Negligent Appraisal? - Appraisers Blogs
Lender Liability for a Negligent Appraisal? - Appraisers Blogs
Lender Liability for a Negligent Appraisal? - Appraisers Blogs
appraisersblogs appraisersblogs | 1 year ago
As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years. Essentially, the cases are situations of “buyer-borrower remorse.” Leaving aside the appraiser’s potential liability, does a mortgage lender have liability to the borrower for a negligent appraisal? An Ohio appe...
As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years. Essentially, the cases are situations of “buyer-borrower remorse.” Leaving aside the appraiser’s potential liability, does a mortgage lender have liability to the borrower for a negligent appraisal? An Ohio appe...
Opteon acquires its third U.S. home appraisal management firm
Opteon acquires its third U.S. home appraisal management firm
Opteon acquires its third U.S. home appraisal management firm
Opteon acquires its third U.S. home appraisal management firm
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
Opteon, an international property valuation firm, has completed its fourth transaction in the last year with the acquisition of Buffalo, New York-based Northeastern Appraisal Associates Residential, an appraisal management company and staff appraisal firm.Terms of the deal were not disclosed. "With the market rapidly changing in recent years, we must remain at the forefront of change to continue providing such excellent service," Salvatore Vacanti, vice president of operations for NEA, said in ...
Opteon, an international property valuation firm, has completed its fourth transaction in the last year with the acquisition of Buffalo, New York-based Northeastern Appraisal Associates Residential, an appraisal management company and staff appraisal firm.Terms of the deal were not disclosed. "With the market rapidly changing in recent years, we must remain at the forefront of change to continue providing such excellent service," Salvatore Vacanti, vice president of operations for NEA, said in ...
"Flavors" of Appraisal Reports - Appraisers Blogs
"Flavors" of Appraisal Reports - Appraisers Blogs
"Flavors" of Appraisal Reports - Appraisers Blogs
"Flavors" of Appraisal Reports - Appraisers Blogs
appraisersblogs appraisersblogs | 2 years ago
SEE the differences between the THREE versions of the 1004 reports, what I euphemistically call “flavors.” Appraisers, recent watercooler discussions by appraisers focus on the new ‘desktop’ appraisals many will be requested to do. Now that the GSE’s have “formally” approved non-appraiser-inspected reports for first mortgage lending (or will very soon – not sure of the exact effective date), you may want to actually SEE the differences between the THREE versions of the 1004 repor...
SEE the differences between the THREE versions of the 1004 reports, what I euphemistically call “flavors.” Appraisers, recent watercooler discussions by appraisers focus on the new ‘desktop’ appraisals many will be requested to do. Now that the GSE’s have “formally” approved non-appraiser-inspected reports for first mortgage lending (or will very soon – not sure of the exact effective date), you may want to actually SEE the differences between the THREE versions of the 1004 repor...
Appraisal process for VA home loans | 2022
Appraisal process for VA home loans | 2022
Appraisal process for VA home loans | 2022
Appraisal process for VA home loans | 2022
militaryvaloan militaryvaloan | 2 years ago
When you enter a contract to buy a new home, your VA lender will order your VA appraisal. This VA home appraisal has two goals: To define the fair market […] The post Blog first appeared on MilitaryVALoan.com.
When you enter a contract to buy a new home, your VA lender will order your VA appraisal. This VA home appraisal has two goals: To define the fair market […] The post Blog first appeared on MilitaryVALoan.com.
Dystopian Future for Occupational Licensees; Appraisers Take Heed
Dystopian Future for Occupational Licensees; Appraisers Take Heed
Dystopian Future for Occupational Licensees; Appraisers Take Heed
Dystopian Future for Occupational Licensees; Appraisers Take Heed
appraisersblogs appraisersblogs | 2 years ago
Her plight is an attack on occupational licensees everywhere. The nation’s long-suffering real estate appraisers, under attack by Congress in an election year, should pay close attention to what has happened in Nashville… Nurse’s Plight Signals Dystopian Future for Occupational Licensees; Appraisers Take Heed To err is human, but not if you’re a licensed nurse in the Regulatory Republic of Tennessee, where “dog eat dog” has become the state’s unofficial motto. In a first of its kin...
Her plight is an attack on occupational licensees everywhere. The nation’s long-suffering real estate appraisers, under attack by Congress in an election year, should pay close attention to what has happened in Nashville… Nurse’s Plight Signals Dystopian Future for Occupational Licensees; Appraisers Take Heed To err is human, but not if you’re a licensed nurse in the Regulatory Republic of Tennessee, where “dog eat dog” has become the state’s unofficial motto. In a first of its kin...