Appraiser News - Appraiser Income

25th January 2012

AGA uses law firm to request documents related to Customary and Reasonable Fees

WASHINGTON, Jan. 23, 2012 – [List of AMCs] On behalf of the American Guild of Appraisers, today the law firm Garvey Schubert Barer filed a request with the Federal Reserve Board under the Freedom of Information Act seeking a wide variety of documents related to the regulations on customary and reasonable compensation of fee appraisers that were issued by the Board in October 2011.

In announcing this action, Guild President Peter Vidi said, “It is clear that appraisal management companies have interpreted rules issued by the Fed as permitting practices that result in real estate appraisers being compensated at levels that are far below ‘reasonable and customary fees’ as required in the Dodd Frank Law. We want to learn whether the Fed intended this result and if so why.”

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24th January 2012

Service Link is looking for Appraisers – Especially LA County

Backed by Fidelity National Title. ServiceLink offers a complete suite of valuation solutions to determine true real estate value and qualify collateral risk. Our extensive knowledge and experience, combined with our proven processes and serve first approach, are what differentiates ServiceLink in the mortgage services industry. We exceed our organization goals in providing quality valuation services that improve the lender’s cycle time and reduce operating costs, while mitigating risk and providing the borrower with an enhanced experience.

PHONE #: 800-777-8759

CONTACT: nita.white@servicelinkfnf.com
COMPANY WEBSITE: www.servicelinkfnf.com
SERVICE AREAS: CALIFORNIA WITH AN EMPHASIS ON LA COUNTY

We are a National AMC, however, we really need appraisers in S. Cal, especially LA County.

Nita White
Director Of Vendor Management/California

—————————————————————–
ServiceLink, FNF’s National Lender Platform
560 E. Hospitality Lane | San Bernardino, CA 92408
(800) 777-8759 x85607 (office) | (909) 743-9219 (cell)
—————————————————————–

nita.white@servicelinkfnf.com

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23rd January 2012

Nations Valuation Services is seeking appraisers!

Nations Valuation Services (NVS) is a national appraisal management company established in 1992 with the objective of providing unbiased real estate appraisals and alternative valuation products to the lending industry. Part of Nations Companies, NVS is proud to announce we are exploding with new business nationwide and currently looking for appraisers to join our elite panel.

For almost 20 years, NVS has been a leader in the valuation industry providing products and services of quality and integrity to local, regional, and national lenders, banks and brokers. Our clients continue to work with us because they trust us. As an extension of our company, we employ only the very best appraisers who share the same principles and objectives.

If you are a certified appraiser who believes in delivering products, service, and communication of the highest quality, can display geographic competency within your market, can thrive in a competitive environment, and aspire to be financially successful, then THIS IS AN OUTSTANDING OPPORTUNITY!!!

NVS is a debt-free company, paying our vendors in a timely fashion. Our vendor selection process is based on geographic competency, product quality, communication, and the ability to meet the demands of our mutual client’s Service Level Agreements. Interested parties can complete an online application at https://nvsvendors.nationsvs.com/promo.aspx and enter invitation code, AppBuzz1.

Reprinted from AffiliateBuzz Newsletter.

posted in Appraiser News | 4 Comments

23rd January 2012

The William Fall Group is hiring staff appraisers

We’re always looking for diligent, quality-conscious appraisers to work with us as employees.

As an employee, The William Fall Group offers:

-Fast paced, challenging work environment
-Professional development
-Incredible management and support staff
-Competitive pay scale
-Reimbursement of designation, educational and licensing cost
-401 (k) program
-Healthcare insurance program

GET STARTED TODAY.
Click here to submit an online application for consideration.
Click here to request access to our Entrance Exam and to review and certify
that you understand our report standards for residential assignments.

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11th January 2012

ASA, NAIFA, AI, ASFMRA File Comments with Federal Reserve on Appraiser Independence; Seek Critical Change Regarding Customary and Reasonable Fees

On December 27, the American Society of Appraisers, together with the National Association of Independent Fee Appraisers (NAIFA), the Appraisal Institute (AI) and the American Society of Farm Managers and Rural Appraisers (ASFMRA), filed reply comments with the Federal Reserve regarding its proposed Appraiser Independence Interim Final Regulations. Of utmost importance to ASA and our partners was concern over the potential for “the consideration of fees paid by AMCs when adhering to the first presumption of compliance with the customary and reasonable fee regulations,” which uses a series of factors in determining whether the fee paid to an appraiser is appropriate under the law and regulations. This concern arose from commentary provided by the Fed in its Interim Rule which stated that determining whether an appraisal fee is customary and reasonable, “does not require that a creditor use third-party information that excludes appraisals ordered by AMCs.”

Also addressed in the letter was the appropriateness of safe harbors for reliance upon third-party fee studies and surveys which rely on generally accepted survey methodologies, and a recommendation that the Fed, using its RESPA authority, require separate disclosure of appraisal fees and AMC fees in this or a subsequent rulemaking as a matter of consumer protection and to further ensure that appraisers receive customary and reasonable fees. The letter also directly addresses over a dozen questions raised by the Fed as part of the rulemaking process on a variety of issues, from the extension of conflicts of interest prohibitions to AVMs, to outcome-based appraiser compensation, to the consideration of professional designations as part of a determination of the reasonableness of fees.

http://www.appraisersnewsroom.org/?p=476

posted in Dodd-Frank C&R Topics | 3 Comments

2nd January 2012

Happy New Year! Now update your templates 2012 USPAP changes

The 2012 USPAP contains changes critical for the appraiser.

1. Certification 2-03. Appraiser must disclose whether or not they have provided prior services on a property being appraised in the last 36 months from a possible Effective Date of Value. This requirement is stated in Certification in SR 2-3 and can be found on page 29 in the 2012- USPAP manual. Appraiser must disclose if they have a current or prospective interest in the property or parties to the transaction.

2. The 2012 USPAP requires appraiser to include the Exposure time statement in the report. Read USPAP 2012 on this and refer to Exposure Time definition.

Definitions and comments:

EXPOSURE TIME: estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.

The Exposure time is a retrospective opinion based on an analysis of past events assuming a competitive and open market.

“I have performed no (or the specified) other services, as an appraiser or in any other capacity, regarding the property that is the subject of the work under review within the three-year period immediately preceding acceptance of this assignment.

These changes should make your appraisal reports USPAP 2012 compliant.

Special thanks to appraisaltoday.com for this reminder!

Happy Appraising to all of you in 2012!!!!

~ Bryan

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19th December 2011

Collecting Appraisal Management Company Debt from Lenders

Success Collecting Appraisal Management Company Debt from Lender
Republished with permission from:
By David Brauner, Editor
WorkingRE.com

One appraisal company at least has collected monies owed by the now defunct appraisal management company (AMC) AppraiserLoft. How did they do it? They did it by citing chapter and verse of FIRREA.

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posted in Appraisal Management Companies, Appraiser News | 2 Comments

3rd December 2011

Valued Veterans seeking Appraisers

Valued Veterans seeking appraisers

Valued Veterans appraisal business is exploding across the USA and we are currently adding appraisers to our elite panel. My name is Andrew Belt, President and CEO, and I’m proud to tell you that I’m a United States military veteran of the Iraq War. Our mission is to provide “Best-in-Class” service to the valuation industry based on the founding values of our military; SERVICE, LOYALTY, HONESTY and INTEGRITY. If you are career driven, aspire to be financially successful, provide quality appraisal products, and outstanding customer service, this is truly a once in a lifetime opportunity.

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2nd December 2011

Appraiser Webinar 12/06/2011: Maximize AMC Orders and Income

Appraiser Webinar

I just wanted to let everyone know I will be presenting a 2 part webinar series for WorkingRE.com/OREP on Maximizing AMC orders and Income.

It is going to start on Tuesday, so you might want to check in to it before it fills up. We are only going to allow access to the first 100 people that sign up.

Thanks!

Bryan Knowlton

Webinar: Maximize AMC Orders and Income

We know not all appraisers choose to work with AMCs, but if you do, this webinar offers techniques and information to help you maximize your orders and income.

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9th November 2011

American Guild of Appraisers takes on the Federal Reserve

ASHINGTON, Nov. 7, 2011 /PRNewswire-USNewswire/ — The American Guild of Appraisers (AGA), a national organization of real estate appraisers that is an affiliate of the AFL-CIO’s Office and Professional Employees International Union (OPEIU), announced today it has retained a law firm as part of a broad-reaching effort to overturn recent federal regulations that dramatically cut the fees that appraisers are paid to perform appraisals, and threaten the viability of professional appraisal practice and the reliability of appraisals used in real estate transactions.

…continue reading the rest of this post: American Guild of Appraisers takes on the Federal Reserve

posted in Dodd-Frank C&R Topics | 1 Comment