Clients & Vendors

Back to the Basics

Thursday, January 9, 2014

In today’s, post mortgage apocalypse, market one would assume that the most important part of an appraisal is the accuracy of the estimate of value.  By virtue of the data being utilized, its uniformity in how it is presented, the crackdown on form-filling number pushing appraisers, and all the tools we have at our disposal, estimates of value should be more and more accurate every day.

Four Keys to Great Appraiser Customer Service

Wednesday, January 8, 2014

We work in an interesting industry where, unless you do a majority of non-lender work, most of our human interactions do not occur with our actual clients. Instead, we communicate with the AMC and lenders through email and web-portals. Most appraisers spend a majority of their work time either in front of a computer, traveling, or inspecting homes. Typically, the only portion of that formula which includes human connection is with the home owner(s).

2014 National Appraiser Survey

Monday, January 6, 2014

It's the beginning of a new year, and with that it's time for the Annual National Appraiser Survey. We hear from appraisers throughout the year in comments to articles and interviews in Appraisal Buzz, on our blog and also in discussions on the Buzz Forum. We just want to affirm that we are indeed listening. So take a load off and let us know what are the most important issues to you.

We will share results of the survey on the Appraisal Buzz website as soon as the results are compiled. Thank you in advance for a being a loyal Appraisal Buzz subscriber.

It's a Wrap

Monday, December 30, 2013

2013 Year End Wrap Up

I love this time of year. Of course what is not to like about the holidays? But it is nice to take a look back over the past year and reflect on accomplishments while simultaneously keeping an eye towards the future. I suppose if you aren’t careful, that means you would have each eye going in a different direction.

Following Instructions

Tuesday, December 17, 2013

 

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 dreaded “instruction” from an underwriter.

“Appraiser to include a second sale whose unadjusted sale price supports the opinion of value, and resubmit report.”

Contrary to Popular Belief, the Appraisal is NOT a Commodity

Monday, December 2, 2013

Many mistakenly view the appraisal as a commodity. True, there are several traditional methods that every appraiser must go through when determining the value of a home that may make the appraisal seem commoditized, including researching the market, analyzing comparables, inspecting the property and making appropriate adjustments to the comparable sales. But those methods are exactly why the appraisal is NOT a commodity. In reality, it is a myth that all appraisals are more or less the same, even though it may seem so at first glance.

Regulatory Compliance of Third Party Valuation Providers

Monday, November 25, 2013

There is no question that operational risk and third party oversight are "buzz words" being spoken about inside the walls of the regulators of financial institutions. This is in large part a result of the recent regulatory changes due to the financial crisis of a few years ago. Operational risk is the risk of loss due to human error; inadequate or failed internal systems and controls; noncompliance with, laws, rules, regulations, policies, or ethical standards; and external influences such as market conditions and fraudulent activities.