Appraiser Income

Having two or three displays side-by-side doesn’t just look cool, it can actually boost your productivity.

You might have seen in my videos or pictures that I use dual monitors to be a more productive appraiser. This will tell you how you can do it as well.

…continue reading the rest of this post: Use dual monitors to boost appraiser productivitiy! [HOW TO]

**FHA News is provided by Lore DeAstra, MBA, SRA, CDEI, author of FHA – The Future of Financing (FHA Guide, Checklist and eBook). See below for details on the package.

FHA News–Lots of Free Training and Webinars for FHA!

September 12 & 13, 2012 – Phoenix, AZ – FHA Lender Training. FHA’s Santa Ana Homeownership Center will be conducting 2-day classes on recent changes, automated (AUS) vs. manual underwriting, review and discussion of feedback certificate and documentation, post endorsement technical reviews, insuring deficiencies, highlights of underwriting the FHA appraisal and much more. This training is highly beneficial for mortgage lending professionals; Underwriters, Processors, and Loan Officers, but all are welcomed. The exact same training will be offered in 3 different locations, and on different dates. Registration required, no fee. Register at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.registerEvent&eventId=1432&update=N

September 18, 2012 – Webinar: The REO Appraisal. Join us for a FREE webinar! The Real Estate Owned (REO) Appraisal will acquaint the audience with the correct reporting procedures that FHA Roster appraisers should follow when completing FHA appraisal reports for HUD Real Estate Owned (REO) properties. This seminar introduces and explains, rather than supplants, official policy issued in Handbooks and Mortgagee Letters. Appraisers new to the FHA Roster, as well as seasoned professionals looking for a refresher will benefit. Registrants will receive an email confirmation prior to the webinar with a web link, a toll-free dial-in number, and instructions for participating in the training. Registrants must have internet access. Registration required (http://www.hud.gov/emarc/index.cfm?fuseaction=emar.registerEvent&eventId=1488&update=N ). Webinar is at 9am MOUNTAIN TIME. Questions? E-mail us at: denverhoc-pudtraining@hud.gov

September 24 – 25, 2012- Chicago, IL. FHA Training/Update for Lenders and Appraisers. SAVE THE DATES! FHA training/update for lenders and appraisers is coming to downtown Chicago, IL. Location and registration details will be posted soon. The FHA Atlanta Homeownership Center staff will provide training and updates on FHA underwriting and appraisal requirements. Watch this listserv for our next notice!

I recently received notice from my E&O company with a quick note on how to respond to a subpoena from the FDIC so I thought I would share it with you.

A member received a subpoena from the FDIC stating that the FDIC, through one or more of its law firms it works with is sending a wave of subpoenas to appraisers requesting information from your work files. The subpoenas are being issued on official letterhead from the FDIC.

If you receive one, known as a subpoena decus tecum, contact your E&O carrier immediately and my E&O provide advised NOT to reply to or even aknowldedge receipt of the subpoena in any fashion.

Of course I am no lawyer, but it would always be a good idea to contact your provider first.

Hope nobody gets one of these!

Bryan

Forsythe Appraisals, LLC has grown into the nation’s largest independent residential appraisal firm thanks to the hard work, dedication, and expertise of our staff appraisers. We continue to grow, having opened two new branches in the past 2 months.

Now is the time for appraisers in metropolitan markets coast-to-coast to take advantage of the following benefits:

…continue reading the rest of this post: Forsythe Appraisal is hiring staff Appraisers

Most Working RE Readers have heard about the tragic movie theater shooting in Aurora, Colorado. Among those killed in the shooting was Gordon Cowden, a real estate appraiser.

Gordon attended the movie with two of his teenage children, 17-year-old Brooke and 16-year-old Cierra, both of whom managed to avoid injury. Gordon was the oldest of the victims, at 51 years of age, and worked as a real estate appraiser.

Gordon will be remembered as a man with a great sense of humor, a man of strong faith and a father who absolutely adored his children.

A Message from the Cowden Family:
As long as I can remember, my father was an appraiser, my siblings responded to the question the same, and my mother told me that he was an appraiser all of his adult life. She told me that he started as an appraiser’s assistant, and thus it was his work since graduating college. We predict the amount of time to be at least twenty five years.

While we have faith in the future and know we will make things work, our current concerns are immediate expenses and those in the near future, such as college, all without the support of our Dad. We would greatly appreciate the support, and we simply cannot thank you enough for reaching out to us in the midst of this tragedy. -The Cowden Family

If you’d like to donate to the Gordon Cowden Children’s Fund, you may do so here: www.gordoncowdenchildrensfund.com.

Also, the Real Estate Appraisers Association (REAA), a non-profit appraiser’s organization with 4 chapters in California, has opened a separate bank account specifically for your donations. The bank will charge the account 2.5% plus $0.30 per donation transaction, which is the ONLY administrative cost that will not be forwarded to the family of Gordon Cowden according to Curtis Thor, President of REAA. According to Thor, the family will receive everything remaining after the bank takes their transaction fee. This account will stay open through October 24, 2012.

Donations can be made to the Cowden Family by visiting the REAA Website and clicking Donate on the Form on the right. Click here to make a donation.

REAA Contact:
VICKI KEELER
916-988-9442
reaaappraiser@earthlink.net

REAA’s Mission: To promote the appraisal profession, and our membership, through education, networking and mentoring for professional development, with dedication to the highest ethical standards of appraisal practice.

A recent post from AppraisalPort© regarding legislative updates that may affect appraisers across the country and AI’s position.

Below is a brief synopsis of three bills that could potentially have both positive and negative ramifications for appraisers. The first one is HR 3461: The Financial Institutions Examination Fairness and Reform Act, which is sponsored by Rep. Shelley Capito (R-WV) and is designed to promote bank examination consistency, safety, and soundness. The AI supports measures to promote consistency, but believes amendments are necessary to this bill as introduced. The bill contains many provisions to strengthen the bank examination process, but the AI sees a problem in that it waives the right of bank examiners to order new appraisals due to safety and soundness issues. The AI believes examiners should not have their hands tied in these situations. The AI also believes appraisals should be allowed to be ordered whenever they are needed. Bank examiners currently oppose the bill, but it does have bipartisan support which could lead to passage, at least in the House.

…continue reading the rest of this post: Legislation That May Affect Appraisers

The Federal Reserve Board, Bureau of Consumer Protection, FDIC, FHFA, NCUA, and OCC announced a proposal to amend Regulation Z, which implements the Truth in Lending Act, and the official interpretation to the regulation. The proposed revisions would have new appraisal requirements for “higher-risk mortgages” that was added as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Home Destination, a residential Minneapolis-based professional Realtor with RE/MAX Results, works closely with home buyers through the pivotal role of an appraiser in real estate purchases.

…continue reading the rest of this post: Federal Agencies on Fraudulent Property Flipping with new Appraisal Rules

By Lou Carlozo

CHICAGO | Tue Aug 7, 2012 11:44am EDT

(Reuters) – Faced with the possibility of the lifetime gift tax exemption dropping precipitously next year and the estate tax rate rising, wealthy individuals are rushing to transfer their assets to family members.

It is no wonder that 73-year-old commercial real estate appraiser Jim Levy is busier now than he ever was – and that is saying a lot, considering he has been in the business for 50 years at Appraisers and Planners Inc of New York City, which his father started in 1933.

“It’s crazy right now,” says Levy. “And this is just the beginning.”

Right now, federal law provides a lifetime gift tax exemption of $5.12 million for individuals, and double that amount for married couples pooling their resources.

What is more, estate taxes on anything above that cap top out at 35 percent, 15 percentage points lower than the ceiling just a decade ago. But unless Congress extends this Bush-era tax cut beyond 2012, the cap will return to its lowest level since 2002: $1 million per person, with a top tax rate of 55 percent.

…continue reading the rest of this post: Appraisers can help you with the upcoming gift tax deadline

I came across this today. Oh Man, too funny!

http://youtu.be/-ioDtuZh5_k

Enjoy!

Bryan