NCUA Proposes Appraisal Management Rule

OMAHA, Neb., March 11, 2014 /PRNewswire/ Last year, American Title Inc. (ATI) acquired Collateral Intelligence, LLC (CI), a national Appraisal Management Company, and has today changed the name from Collateral Intelligence to ATI Valuations.

Omaha-based ATI is the nation’s leading real estate information provider to home equity lenders and the Boston-based ATI Valuations (formerly Collateral Intelligence) offers appraisals and alternative valuations to its clients in the mortgage industry.

“Our clients have been asking for us to help them with valuation services for years due to all of the changes, but we wanted to make sure that we had a best-in-class solution before bringing it to the market. When we became aware of Collateral Intelligence, we knew that it was a perfect fit,” said Mike Mackintosh, Executive Vice President of ATI. “Mark Sennott (CEO) and his team have a tremendous amount of experience, not only in the valuation market, but in working collaboratively with clients to create innovative valuation solutions that improve the process for all parties involved.”

Mackintosh said that ATI offers title products to most of the top ten Home Equity Lenders in the US and that the company has been growing rapidly as a result. ATI Valuations, meanwhile, has rolled out several appraisal hybrid products and appraisal desktops that are also what many Home Equity lenders are now looking for.

Since last year, the two companies have worked diligently to integrate the ATI infrastructure, which includes ensuring that subject matter experts work in their area of expertise. “We think that this will create the best solution for our clients since they will get access to title and valuation products through one company, but still have the best possible people working on the unique products,” said Mackintosh. The companies said the combined financial resources will be used to position ATI to better compete in the marketplace.

“We are excited to be associated with an industry leader like ATI,” said Mark Sennott, CEO of ATI Valuations. “We think our appraisal hybrids are a great match for their clients and our combined strengths will allow us to do much more for all our clients.”

SOURCE American Title Inc.

Dear State Appraisal Regulators,

Please assist us by posting this information on your website or in your newsletters.

Beginning today, February 12, 2014, the Appraiser Qualifications Board (AQB) will begin distributing an online survey to licensed and certified real estate appraisal professionals as part of a practice analysis.  The deadline to complete the survey is March 26, 2014.

The purpose of the practice analysis is to identify tasks and competencies reflective of the real estate appraiser job role in order to update the examination content outlines for the AQB National Uniform Licensure and Certification examinations.

Please distribute this link to the survey:

https://www.surveymonkey.com/s/AQBSURVEY

…continue reading the rest of this post: AQB Survey – You might win $50.00 or A Trip To Disneyland (not really)

Fannie Mae Launches Appraiser Quality Monitoring Website

Fannie Mae launched a website Jan. 6 focused on its new Appraiser Quality Monitoring process, which evaluates appraisals for data accuracy and consistency. The site gives lenders access to a list of appraisers whose reports will be subject to 100 percent review or no longer accepted by Fannie.

Sellers and servicers approved by the government-sponsored enterprise can access the review list of appraisers through the website’s Technology Manager. The list is protected content and will be updated monthly. …continue reading the rest of this post: Quality Monitoring Website by Fannie Mae

Appraiser Marketing Guide and List of 3400+
Direct Lenders, Credit Unions and Bail Bond Companies

Have you noticed a significant decline of lender work over the past few months? Do you want to learn how to get more appraisal orders and finally get off the Appraisal Management Company roller coaster ride for good?

Like many appraisers I have seen a very significant decline in AMC orders over the past few months. I have been kicking myself in the butt for not getting started on my marketing to Attorneys, bail bond companies and credit unions prior to the interest rates going up.

Luckily I have a steady stream of attorney work that keeps me busy due to having a good contact management system in place and a steady client base of bail bond companies that refer their customers to me.

In this book I have detailed the steps that I take to create an inexpensive mailer to get more work from credit unions, attorneys and bail bond companies as well as the systems I use to continually get more referral work from all my past clients.

This is an incredible resource to those appraisers that are really looking to learn how do market your appraisal company and build up your client base so you don’t have to deal with seasonal and economic slow downs. This kind of work never goes away!

Possibly one of the most valuable aspects of this book is the spreadsheets that include:

Chapters Include:

• How To Use the Spreadsheets Included With This Book
• Will Rising Interest Rates Affect Your Appraisal Business?
• Getting Off The Appraisal Management Company Roller Coaster Ride for Good
• How to Market to Attorneys, Bail Bond Companies, Direct Lenders and Credit Unions
• Step-by-Step Instructions to Make a Postcard Mailer From Card Design to Mailing
• How To Get Low Cost Mailing Lists Made Targeting Local Divorce and Bankruptcy Attorneys
• Tested Methods on How To Get More Referral Work From Past and Existing Clients
• How to get a FREE Local Listing in Google and Optimize it for Best Results

You are going to especially love the Bail Bond marketing information. These orders are amazing and I have been focusing a lot of my efforts to getting more of their referrals. Why?

When I am referred a customer, I quote 3 fees. I base my first fee off of complexity of the appraisal. Lets say it is a standard tract home in San Diego. I quote them $400 and will inspect within 2 working days and have the appraisal report back to them within 2 days. The second fee is to inspect within 24 hours and have back within 24 hours for $800, and finally a same day inspection and deliver of the appraisal is $1200.

Which one do you think the client wants when they are trying to get a loved one out of jail? 75% of the time it is the $1200 fee for a simple tract home appraisal.

But you do have to follow up to keep these clients, and I have listed all the techniques I use to stay in contact with these clients so the work doesn’t go away.

This resource is jammed packed with information and the spreadsheets are 100% sortable by state to make it easy to create your postcard and do your mailing as noted in Chapter 5: Step-by-Step Instructions to Make a Postcard Mailer From Card Design to Mailing

The next chapter lays out the steps I use to get a massive list of Attorneys in my market area by an inexpensive virtual assistant.

Take the time today to order my New Book & Directory – No More Middlemen – Full Fee & Appraisal Managment Free : 2014 Appraiser Marketing Guide and List of 3400+ Direct Lenders, Credit Unions and Bail Bond Companies and finally get off the crappy appraisal management company roller coaster ride for good!

Click Here To Order

Bryan Knowlton
Appraiser Income
http://www.appraiserincome.com

(Source: FDIC) – Six federal financial regulatory agencies today issued a final rule that creates exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The exemptions are intended to save borrowers time and money while still ensuring that the loans are financially sound. The appraisal requirements for higher-priced mortgages were established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Under the Dodd-Frank Act, closed-end mortgage loans are considered to be higher-priced if they are secured by a consumer’s home and have interest rates above a certain threshold. The Dodd-Frank Act requires creditors to obtain a written appraisal based on a physical visit of the home’s interior before making these loans.

The final rule provides that loans of $25,000 or less and certain “streamlined” refinancings are exempt from the Dodd-Frank Act appraisal requirements, which go into effect on January 18, 2014.

Rabobank and Union Bank want to directly engage the most qualified appraisers in and around these four locations:

San Jose/Fremont, CA – December 4th, 2013 from 8:30 – 5:00
Union Bank and Rabobank
Location: Hilton Newark/Fremont –
39900 Balentine Drive, Newark, CA 94560
Tel: 510-490-8390

Thousand Oaks, CA – January 15th, 2014 from 8:30 – 5:00
Union Bank and Rabobank
Location: Hyatt Westlake Plaza –
880 S. Westlake Blvd. Westlake Village, CA 91361
Tel:805-557-4654

Seattle, WA – January 29th, 2014 from 8:30 – 5:00
Union Bank Only
Location: TBD

Sacramento, CA – February 12, 2014 from 8:30 – 5:00
Rabobank Only
Location: TBD

Rabobank and Union bank would like to form a partnership with qualified and professional appraisers in these markets. The Appraiser Events are a unique education opportunity approved for 7 hours of Continuing Education in CA (13CP165603006), OR (ALCG-C-0913-1822) and WA (AP3113). Appraisers will also have the opportunity to apply for the fee panel of these banks. In addition, appraisers will learn about bank policies, appraisal regulations and appraisal review criteria directly from bank executives. Attendees will meet bank executives and can engage in an open dialog about a variety of appraisal related issues. Rabobank and Union Bank want to be seen as an informed and trusted partner.

The response to these events has been very positive. Which has prompted some to contact Union Bank and Rabobank directly. Both Ken DeFeo and Robert Melfe have requested that all inquiries regarding these events and the fee panel prospects be directed to us at karen@allterragroup.com or you can call Karen Connolly at 513-490-0226. You will have the opportunity to speak directly to Ken and Robert at the event.

For more information please visit the Alterra Group.

Hey Everyone!
It has been a while since I just reached out and said THANK YOU for being a part of Appraiser Income, reading my blog posts, sharing them and participating whenever possible.

Appraisers like you are the ones that make a difference in our industry. We all know our industry has experienced a lot of turmoil over the past 10 years, but you continue to hang in there with the rest of us! I hope over the years I have helped you to find new income opportunities while being a real estate appraiser. I hope I have not offended you when I occasionally lose my grip and call out a AMC that has wronged all of us.

I wish everyone a great future while being a real estate appraiser. Hopefully this winters slow period won’t last as long as they have in the past and if there is anything I can help you out with, just leave a comment below!

Thanks again!

Bryan Knowlton
http://www.appraiserincome.com