March, 2012 - Appraiser Income

20th March 2012

Metro-West Appraisal Co., LLC is seeking Certified Appraisers

Metro-West Appraisal Co., LLC is seeking Certified Appraisers to join their team. Stop wondering when you will receive your next order and allow yourself the peace of mind of having stable work. Since 1987 we have provided quality valuation products throughout the United States. We offer the appraiser more than just a job; we provide an opportunity to prosper in a valuation career.

Take shelter from the Real Estate Industry storm and join our team! As our valued team member you will enjoy the following benefits:

90 Day Non-Exclusive Contract
Free CVR Certification
$20 /Month Cell Phone Credit
ACI Software & 24/7 Support Team
Metro-West pays for Federal Insurance Contributions Act (FICA) tax and Federal Unemployment Tax Act (FUTA) tax
Guaranteed Bi-Weekly Pay Checks
Errors and Omissions Insurance
$15,000 Life Insurance Policy Paid For by Metro-West

Medical Insurance Benefit Program
Flexible Spending Account
Dental Insurance
Access to Tech Support for Home Office PC’s and All Business Software
Proactive and engaged marketing team developing new clients and creating new business.
Vision Insurance
401(k) Retirement Savings Plan
Quality Control appraisal advisors and Status support available Monday through Friday 8 AM EST – 8 PM EST.

For consideration please submit to careers@metrowestappr.com:
1. Appraiser license
2. Resume
3. Coverage Area
4. Two recent UAD sample appraisals. (At least one 1004 w/ MC form)

posted in Appraisal Management Companies | 2 Comments

15th March 2012

Lender Paying Appraisers Stiffed by AppraiserLoft

Editor’s Note: Hundreds, possibly thousands of appraisers are left with unpaid invoices as a result of AppraiserLoft shutting its doors; now one major lender is stepping up and paying up. Reprinted with permission from WorkingRE.com

Lender Paying Appraisers Stiffed by AppraiserLoft
By Isaac Peck, Assistant Editor

The argument is unsettled to what degree lenders are responsible for the agents they hire to administrate valuation services- appraisal management companies (AMCs). The case of the AMC AppraiserLoft kicked off the debate when it closed its doors leaving an estimated three million dollars or more in unpaid appraiser fees.

In the meantime, one major lender, Metlife Bank, is saying it will make good on the bad debt created when its agent, AppraiserLoft, shut its doors.

…continue reading the rest of this post: Lender Paying Appraisers Stiffed by AppraiserLoft

posted in Appraisal Management Companies | 2 Comments

14th March 2012

Implementing the Dodd-Frank Act

Implementing the Dodd-Frank Act: The Federal Reserve Board’s Role
The Federal Reserve Board is responsible for implementing numerous provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act” or “DFA”), sometimes in conjunction with other government agencies. Listed below are the implementation initiatives recently completed by the Board, as well as several of the most significant initiatives that the Board expects to address over the next few months. Timeframes for upcoming initiatives are estimates and may be adjusted.

Initiatives Completed
Initiatives Planned: January to March 2012
Initiatives Planned: April to June 2012
Dodd-Frank Act: Statutory Dates For Actions
Initiatives Planned: April to June 2012

“Financial Company” Definition
The Board expects to request comment on a re-proposed rule to establish the standards for determining when a company is predominantly engaged in financial activities and qualifies as a “financial company.” (DFA Section 102(a)(6))

Real Estate Appraisal Requirements
The Board, along with other Federal regulatory agencies, expects to: (1) request comment on a proposed rule to implement appraisal requirements for higher-risk mortgages, and (2) issue final rules restricting acts and practices to ensure appraisal independence and to require reasonable and customary fees for independent appraisals. (DFA Sections 1471, 1472)

Real Estate Appraisal Management Company Registration and Reporting
The Board, along with other Federal regulatory agencies, expects to request comment on a proposed rule to establish minimum requirements for registration and reporting of appraisal management companies. (DFA Section 1473)

Residential Mortgage Appraisal Portability
The Board, along with other Federal regulatory agencies, expects to request comment on a proposed rule on residential mortgage appraisal portability requirements. (DFA Section 1472)

Real Estate Appraisal Automated Valuation Models
The Board, along with other Federal regulatory agencies, expects to request comment on a proposed rule to implement quality controls for real estate appraisal automated valuation models. (DFA Section 1473)

posted in Dodd-Frank C&R Topics | 0 Comments