Appraisal rules for high-priced mortgages
A Section 35 higher-priced mortgage loan classification triggers certain appraisal report requirements.
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Tag: appraisal
Paying appraisers
Fee appraisers are to be compensated by mortgage lenders and their agents at a reasonable rate – but there are exceptions that effectively gut this rule.
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Mortgage Concepts: Regulation of Appraisal Management Companies, a middleman for appraiser independence from lenders
Learn how AMCs operate in California to maintain appraiser independence.
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Conflicts of interest facing appraisers and mortgage lenders
An appraiser must not have a direct or indirect interest, financial, personal or otherwise, in the property they have been retained to prepare an appraisal.
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Appraisal discrimination made easier to spot with California’s new law
A new law authorizes the California BREA to collect demographic data from appraisers.
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Letter to the Editor: Who may render a broker price opinion (BPO)?
Does one need to be a broker to prepare and present a broker price opinion (BPO)?
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Below value appraisals are uncommon — but they are more likely in minority neighborhoods
New data shows homes are more likely to be appraised at below the contract price when they are located in minority neighborhoods.
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Economic considerations in an evaluation: Part 2
This article discusses different valuation methods for preparing a broker price opinion (BPO).
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Economic considerations in an evaluation: Part 1
Learn how local economic conditions influence a broker’s price opinion – and how to use different valuation methods.
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The Appraisal Foundation urged to revise their Ethics Rule for appraisers
The Appraisal Foundation, responsible for updating the Uniform Standards of Professional Appraisal Practice, has revised their Ethics Rule at the request of federal regulators.
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The votes are in: Appraiser discrimination is rare — here’s how to spot it
While rare, firsttuesday readers report firsthand experience of discrimination during the appraisal process.
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Help wanted: diversity in real estate appraiser industry
The real estate industry needs diverse representation to reflect its diverse group of clients — appraisers included.
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Poll: Have you or your clients experienced appraiser discrimination?
Implicit bias in the appraisal industry drags down the housing market.
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The danger of high appraisals in a spiraling housing market
A high appraisal has long stakes for homebuyers – and lenders.
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Appraisals in a declining market — and why it matters in 2022
After two years of rapid price increases, appraisers will need to make a quick shift when prices dive later in 2022.
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MLO Mentor: ECOA disclosures, Part II
This article discusses record retention and discrimination rules under the Equal Credit Opportunity Act (ECOA).
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POLL: How often are your deals when contingent on new financing killed by low appraisals?
This week’s poll inquires upon readers’ thoughts on low appraisal impact on deals entangled with new financing.
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Fannie Mae and Freddie Mac to launch remote desktop appraisals in 2022
After a successful test run triggered by the pandemic, Fannie Mae and Freddie Mac will soon be permanently accepting remote desktop appraisals on eligible transactions.
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Clarity on AMC designated officer rules
The designated officer (DO) is an important role ensuring appraisal management company (AMC) compliance.
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