Woody Fincham, SRA is the Senior Land Preservation Tax Credit Appraisal Consultant for the Department of Taxation in Virginia. He reviews and consults on the valuation work submitted for tax credits. These reports deal with conservation easement and historic façade easements. He also manages a private appraisal practice that specializes in residential valuation with a focus on non-lender reports, review and a small portfolio of lender work. Woody is very involved with the Appraisal Institute and was a discussion leader for the 2014 Leadership Development& Advisory Council (LDAC) after attending as a participant for three years prior to that. He has been a featured panelist at the Association of Appraiser Regulatory Officials (AARO). He has also been a non-member participant in the Collateral Risk Network (CRN) and has recently joined the ranks of national instructors for the Appraisal Institute. He lives in Charlottesville, VA with his wife and three children where he enjoys running, writing, playing music, and hiking.Help For Appraisers Worried About Collateral Underwriter
Social media has been nuts the last couple of weeks with some appraisers seemingly clamoring for more information on multiple regression analysis (MRA). So what is the big deal? Fannie Mae has decided to implement a new analytics application, Collateral Underwriter (CU), available to assist lenders in making sure that appraisal quality is maintained by the lenders . You cannot scroll through some of the groups without seeing some new post asking for copies of regression spreadsheets or long threads debating the topic. There have been many of us touting the benefits of using it for years. It can be a very useful tool. I very much believe it is a tool that every residential appraiser needs to know about and be able to utilize at some competent level. But there is always a catch to anything worth doing, and MRA is no exception. Learning regression is a process and is not something one should tread into lightly.