Valuation News

Disaster Area Appraisals and Shortages: Harvey, Irma and Jose… and Maria is on the Way

Disaster area appraisals and appraisers are impacted by shortages. In the wake of the devastation caused by hurricanes Harvey and Irma, and with Jose winding down and Maria winding up, the demand for property inspections and other appraisal services in FEMA designated disaster areas is on the rise, and so are the fees and turn times for [...]

Fannie Mae Gets Proactive with Appraisal Industry

Fannie Mae is engaging appraisers with their new Appraiser Update Newsletter which “is intended to promote more proactive communication with the appraisal industry and ensure alignment between appraisers, appraisal management companies, lenders and Fannie Mae.” In this first edition you will find information regarding hot topics such as Day 1 Certainty, Collateral Underwriter stats and Selling Guide updates. There are [...]

Is Your Bank Feeling the Effect of Commercial Valuation Pressure?

The Federal Reserve, in their most recent Monetary Policy Report to Congress, echoed a growing concern over trends in the commercial real estate market. "Commercial real estate (CRE) valuations, which have been an area of growing concern over the past year, rose further, with property prices continuing to climb and capitalization rates decreasing to historically low levels," said the [...]

Contract Amendment: Fannie Mae Offers Appraiser Relief in Time and Money

Approximately 20% of appraisal amendment requests on purchase transactions are related to contract changes. Fannie Mae has recognized this can be a drain on appraisers and a drag on the delivery of appraisals to lenders. This update is a real solution that can save appraisers and lenders time – and money. The Fannie Mae Selling Guide Announcement (SEL-2016-09) states that [...]

Appealing an Appraisal & Other Tips That Can Make a Difference

Cindy Nasser, Senior Vice President of Operations and Michael Baz, Director of Quality Control of PCV Murcor, Share Appraisal Tips with Tom Clary and Ron Bruno of the Clarified Realty Podcast. This episode covers: Nuts and Bolts of an Appraisal The Current Appraiser Shortage What Does an Appraiser Do Before Arriving to the Property? Best Approach to Appealing an Appraisal [...]

Care About Appraisal Turn-Time? Fannie Mae Just Gave You a Big Gift!

Fannie Mae Clarification on Appraisal Contract Amendments Can Save You 48 Hours on Appraisal Turn-Times. Lenders no longer need to send amendments affecting the sale price, transaction terms, financing concessions, closing costs, closing date or other clerical issues to appraisers for Fannie Mae loans. In the latest Selling Guide, Fannie Mae clarified that lenders only have to provide appraisers [...]

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