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No Appraisals Required. The End of Appraisers?

Appraisers Blog

No appraisal may be required in the future! Fannie Mae took a direct shot at appraisers with the announcement of changes in their Selling Guide. Two options for the future, both of which do great harm to the appraisal industry. And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan.

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Average AMC Appraisal Fee to the Appraiser

Appraisers Blog

Average AMC appraisal fee to the appraiser: AMCs are taking far more of the borrower-paid fee this year than they did last year. My intent was to provide actual useful AMC-paid fee data compared to what the borrower pays for ‘the appraisal’, without revealing specific fees in any particular location. It was March 28th,….

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Certified Appraisers vs. Unlicensed Data Collectors

Appraisers Blog

Here’s a great take on the difference between Certified Appraisers vs. Unlicensed Data Collectors by Leigh Brown, President of the NC Association of REALTORS. Fannie Mae has been working hard to get rid of appraisers for years. Their latest twist is to re-categorize many appraisers as “Unlicensed Data Collectors.”

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Fair Value as Process: A Retrospective Reconsideration of Delaware Appraisal

Harvard Corporate Governance

Related research from the Program on Corporate Governance includes Using the Deal Price for Determining “Fair Value” in Appraisal Proceedings (discussed on the Forum here ) and Appraisal After Dell , both by Guhan Subramanian. The intent and result were to facilitate liberality in the treatment of appraisal petitioners.

Appraisal 158
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Comment on Average AMC Appraisal Fee to the Appraiser by Raymond

Appraisers Blog

Interesting that the AMCs set their (low) appraisal fee based on a some business profit goal and the typical appraiser is suppose to set their appraisal fee based on the complexity of the appraisal assignment. AMC’s have taken over the entire appraisal process. So AMC’s appraisers comply or leave.

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Appraiser Countersuing Black Homeowners for Defamation

Appraisers Blog

The Maryland appraiser has filed a countersuit against the homeowners, claiming defamation. Appraisers, there have been several lawsuits filed against appraisers by borrowers who “don’t like your value, so I’m accusing you of discrimination” over the last year or so. Related Posts: Why is Only One Side of This Story Being Told?

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Sale Price vs Appraised Value Disconnect

Appraisers Blog

The article titled “FHFA Data Fueling Looks into Appraisal Bias” was in the Inside Mortgage Finance Publications e-newsletter on 4/06/23. According to aggregate statistics from the Uniform Appraisal Dataset released by the FHFA, roughly 57% of appraisals were above the contract price in 2021. The article does not stress ‘bad.’…