2010-2011 EDITION OF USPAP ADOPTED

The Appraisal Foundation recently announced that the Appraisal Standards Board (ASB) adopted revisions for the 2010-2011 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) at its public meeting in New Orleans. The 2010-2011 edition of USPAP will be...

Timing of Mortgage Loan Disclosure Statements and Appraisal Reports: Truth in Lending and the HVCC

The Home Valuation Code of Conduct (HVCC) adopted by Fannie Mae and Freddie Mac as of May 1, 2009, requires that a copy of the appraisal ordered by the lender must be given to the borrower at least three business...

The Green REEPer - Cap and Trade Bill

Think your E&O insurance is expensive? Wait till the U.S. Senate passes the "Cap and Trade" (aka Crap and Tax) bill which has already been pushed through the U.S. House of Representatives. Can you imagine getting sued by a homeowner...

AMCs vs. Direct Contact Roughly 50/50 Post-HVCC

Nearly six weeks after the Home Valuation Code of Conduct went into effect, technology vendor Global DMS found that the number of lenders ordering appraisals through appraisal management companies was roughly the same percentage as those lenders who ordered appraisals...

Open Letter from a la mode Chairman: Reversing the damage done by the HVCC

To: Our colleagues in the real estate industry From: David Biggers, Chairman, a la mode, inc. RE: Reversing the damage done by the HVCC As many of you are aware, we’ve always been at the forefront of lobbying for and...

NAMB - HVCC Call To Action

To: All Mortgage Brokers, Real Estate Agents, Appraisers, Lenders, Home Builders, Title Agents, and Consumers From: Marc Savitt, President- National Association of Mortgage Brokers After more than a year of exhaustive negotiations with Fannie Mae, Freddie Mac, Director of FHFA...

Fannie Mae Announcement 09-19 - Clarification of Announcement 08-30, Appraisal-Related Policy Changes and Clarifications

Fannie Mae's Announcement 09-19 updates and clarifies the following appraisal and property-related topic: Clarification of Announcement 08-30, Appraisal-Related Policy Changes and Clarifications Updates to Announcement 08-30, Appraisal-Related Policy Changes and Clarifications. Market Conditions Addendum to the Appraisal Report In Announcement...

New Appraisal System (HVCC) Impacts Consumers

[The other day Appraisal Scoop posted I'm just an Appraiser. How can I do anything to impact the HVCC? , with permission from Truett D. Neathery, who suggested getting LOCALwith your activism. I belive the following article provides a good...

Speak Up! Home Valuation Code of Conduct's Unintended Consequences

Today I'm starting a new category on Appraisal Scoop called - Speak Up! I'll use this category to re-blog (with permission) the best of comments, forum posts, and "Letters To The Editor" that I find. If you come across (or...

PR: ClickFORMS Prepared for Fannie's New MISMO XML Data Delivery Requirements

Beginning March 1, 2010, Fannie Mae will require all appraisal reports to be submitted to them electronically in the MISMO Appraisal XML format (click here). This new guideline is for lenders, the lenders will be requiring appraisers to submit their...