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"Flavors" of Appraisal Reports - Appraisers Blogs

"Flavors" of Appraisal Reports - Appraisers Blogs

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 reports, what I euphemistically call “flavors.” I spent a number of hours at the end of January reviewing our current ‘full’ 1004 form, and the new...

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"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 | 1 year 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...
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.
The Appraisal Problem and Undue Diligence - Appraisers Blogs
The Appraisal Problem and Undue Diligence - Appraisers Blogs
The Appraisal Problem and Undue Diligence - Appraisers Blogs
The Appraisal Problem and Undue Diligence - Appraisers Blogs
appraisersblogs appraisersblogs | 11 months ago
Gone are the days of hiring a professional appraiser to solve the appraisal problem. For decades lenders have taken on the responsibility of shaping the appraisal process and dictating the solutions to the appraisal problem. Savvy appraisers push back in a positive fashion to try and enable the lender to receive a report that not only meets USPAP, FIRREA, Fannie Mae, or HUD/FHA/VA an UAD reporting guidelines, but also provides the client with a report that is clear, concise, accurate and not mis...
Gone are the days of hiring a professional appraiser to solve the appraisal problem. For decades lenders have taken on the responsibility of shaping the appraisal process and dictating the solutions to the appraisal problem. Savvy appraisers push back in a positive fashion to try and enable the lender to receive a report that not only meets USPAP, FIRREA, Fannie Mae, or HUD/FHA/VA an UAD reporting guidelines, but also provides the client with a report that is clear, concise, accurate and not mis...
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 | 11 months 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...
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...
Two reports present very different pictures of appraisal bias
Two reports present very different pictures of appraisal bias
Two reports present very different pictures of appraisal bias
Two reports present very different pictures of appraisal bias
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
Automated valuations tested on 50 ZIP codes in Chicago yielded no signs of racial bias, even on undervalued properties where disparities most frequently surface, according to a new Veros Real Estate Solutions study, which presents a contrast to other recent findings related to appraisal models.“We looked at whether the size of the errors is dependent on the racial composition of an area, and we found that it is not,” Research Economist Reena Agrawal, said in an interview about the report sh...
Automated valuations tested on 50 ZIP codes in Chicago yielded no signs of racial bias, even on undervalued properties where disparities most frequently surface, according to a new Veros Real Estate Solutions study, which presents a contrast to other recent findings related to appraisal models.“We looked at whether the size of the errors is dependent on the racial composition of an area, and we found that it is not,” Research Economist Reena Agrawal, said in an interview about the report sh...
Do I Need A Probate Appraisal? • Birmingham Appraisal Blog
Do I Need A Probate Appraisal? • Birmingham Appraisal Blog
Do I Need A Probate Appraisal? • Birmingham Appraisal Blog
Do I Need A Probate Appraisal? • Birmingham Appraisal Blog
birminghamappraisalblog birminghamappraisalb... | 1 year ago
You may have heard the term before but may still be asking yourself “what is probate and what is a probate appraisal?” Probate is the legal process a will must go through to prove its validity before anything can be distributed to the named beneficiaries. If this does not happen then the wishes of the person leaving the will and the legal requirements for the estate may not be met. A probate appraisal is typically required by the court and is used to help settle the estate. The appraisal he...
You may have heard the term before but may still be asking yourself “what is probate and what is a probate appraisal?” Probate is the legal process a will must go through to prove its validity before anything can be distributed to the named beneficiaries. If this does not happen then the wishes of the person leaving the will and the legal requirements for the estate may not be met. A probate appraisal is typically required by the court and is used to help settle the estate. The appraisal he...
No-appraisal refinance: How to refinance without an appraisal
No-appraisal refinance: How to refinance without an appraisal
No-appraisal refinance: How to refinance without an appraisal
No-appraisal refinance: How to refinance without an appraisal
themortgagereports.com themortgagereports.c... | 1 year ago
It may be possible to refinance without an appraisal, but only if you meet certain requirements. Learn about appraisal waivers and no-appraisal refinancing.
It may be possible to refinance without an appraisal, but only if you meet certain requirements. Learn about appraisal waivers and no-appraisal refinancing.
Commercial Appraisal Reports: How Much Do They Cost?
Commercial Appraisal Reports: How Much Do They Cost?
Commercial Appraisal Reports: How Much Do They Cost?
Commercial Appraisal Reports: How Much Do They Cost?
appraisersblogs appraisersblogs | 11 months ago
Every business that owns a commercial property will require an appraisal. Commercial real estate transactions are the most common. Commercial real estate appraisals are necessary when acquiring or selling a commercial building. As with home appraisals, commercial property appraisals offer unbiased, third-party insight into their value. In contrast to residential properties such as single-family houses or condominiums, commercial appraisals estimate the value of stores, offices, hotels, apartment...
Every business that owns a commercial property will require an appraisal. Commercial real estate transactions are the most common. Commercial real estate appraisals are necessary when acquiring or selling a commercial building. As with home appraisals, commercial property appraisals offer unbiased, third-party insight into their value. In contrast to residential properties such as single-family houses or condominiums, commercial appraisals estimate the value of stores, offices, hotels, apartment...
Refuting the Negative Race Bated Accusations
Refuting the Negative Race Bated Accusations
Refuting the Negative Race Bated Accusations
Refuting the Negative Race Bated Accusations
appraisersblogs appraisersblogs | 1 year ago
We will sink under the weight of all the so-far unproved accusations. Appraisers, Tobias J. Peter, Assistant Director, AEI Housing Center Research Fellow, American Enterprise Institute (AEI), has weighed in on all the negative press and faulty ‘studies’ (by both GSE’s and others) that have been promulgated about how appraisers, as a whole, have systemic racism built-in when doing property inspections and appraisal reports. Faulty Evidence and Misdiagnosed Solutions Why centralizing apprais...
We will sink under the weight of all the so-far unproved accusations. Appraisers, Tobias J. Peter, Assistant Director, AEI Housing Center Research Fellow, American Enterprise Institute (AEI), has weighed in on all the negative press and faulty ‘studies’ (by both GSE’s and others) that have been promulgated about how appraisers, as a whole, have systemic racism built-in when doing property inspections and appraisal reports. Faulty Evidence and Misdiagnosed Solutions Why centralizing apprais...