‘Rules and Regulations’ Posts

 

Appraiser Fee Disclosure sample

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Here’s the sample Appraiser Fee Disclosure. (Click the image.)

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Q & A with Josh Walitt on Residential Appraisals Colorado

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Question #1: My bank said they ordered an appraisal for my loan, but no one ever came inside the house. Does this sound right to you?   For certain types of loans, such as home equity loans, banks follow specific federal guidelines (called Interagency Guidelines) which allow for the bank to use an exterior-only appraisal […]

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Agencies Issue Proposed Rule on Minimum Requirements for Appraisal Management Companies

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Six agencies released a Joint Release “Agencies Issue Proposed Rule on Minimum Requirements for Appraisal Management Companies”. The release, and its attached Proposed Rule, list five AMC requirements that participating States must enforce, as well as six broad powers the States must have related to monitoring, disciplining, and reporting.     The Joint Release also points […]

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Appraisals vs Evaluations – Tapping “New” Source of Business

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by Joshua Walitt   There’s been a good deal of interest lately about Evaluations: who is writing them, and more importantly, who is not writing them and missing out on potential valuation business. Evaluations are those valuation reports that banks can use, under the Interagency Guidelines and in certain lending situations, which don’t require but […]

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How to create an Appraisal Report: Following Instructions

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I normally get very few revision requests, and usually for minor items. I’m not saying this to pat myself on the back, but to explain how surprised I was a few weeks ago when I received two revision requests in the same week. And they weren’t just any type of revision request: they were the […]

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