The Appraisal Foundation has developed a web-based survey of practitioners in the appraisal profession, which it has sent some 60,000 of you. Many of you have received the e-mail, but those who haven't, or who have yet to take a few moments to provide your input, the Appraisal Foundation urges you to do so. Click to read more
Fannie Mae released June 24 three more revised appraisal report forms: a new 2055, and new co-op forms 1073 and 1075. As with their release of test versions of a new URAR, 1004B and 1004D June 3, their stated goal is to allow/require appraisers to "report the results of his or her appraisal in a more concise manner than our existing report formats," it said. Click to read more
A hot topic lately in our e-mail and phone correspondence with customers and noncustomer appraisers, on Internet message boards, Yahoo! "user groups" and Internet e-mail lists has been appraisal technology provider sponsorship of conferences promoting Automated Valuation Models (AVMs), as well as dues-charging appraiser advocacy associations becoming involved with establishing standards for AVM usage in mortgage transactions so that they can be used more reliably in place of full appraisals. Click to read more
American Reporting Company, offering credit reporting services for the real estate, mortgage and business communities, has tapped former Washington Mutual Chief Appraiser Sue Potteiger as its new president, with the goal of "grow[ing] the business from a Credit Report centric company to developing and managing a complete suite of settlement services to include Credit, Appraisal, Title, Escrow and Flood," the company reported. Click to read more
A new Fannie Mae program introduced this year is anticipated to increase manufactured housing financing by 33 percent. Conseco Finance, one of the largest MH lenders which, dragged down principally by its MH business, filed for bankruptcy protection in 2002, was purchased recently out of bankruptcy by CFN Investment Holdings. Large mortgage originators U.S. Bank and GMAC Residential Funding have entered the arena recently. Large lenders like Chase and Origen Financial remain committed to MH funding. Click to read more
Last week we asked XSite users how they've been evangelizing to their clients to train them to take full advantage of XSites' ordering, status reporting and secure report delivery. We heard a number of success stories. Click to read more
This week's Business Week includes a piece on how to get a reliable estimate of the value of your house online. Turns out, you really can't. Click to read more
An alliance of the Appraisal Institute, the International Association of Assessing Officers (subject to its board's approval) and a Collateral Risk Assessment Consortium representing mortgage lenders has been formed to "enable mortgage and other industry players to apply automated valuation models [AVMs] to the mortgage origination process with greater confidence," according to a press release. Click to read more
What's new in the world of search engines on the Internet, and how can you get them to notice your agent website? Here are some news, views, tips and tricks. Click to read more
When was the last time you discovered a home's eventual buyer at an open house? It happens, to be sure. But usually, open house traffic — at least the first one you have in a home — is made up of neighbors gauging the competition (or just being nosy) and "tire kickers" who are considering buying eventually but who haven't gotten serious enough yet to make appointments. Besides, with virtual tours and Flash listings, are open houses really worth the effort, potential liability and glad handing with unserious visitors? Of course they are! Agents who still swear by the open house know what to expect, and get a lot out of them. Click to read more
Contact Kara Calderon for appraisal or real estate industry news and Molly Dowdy for mortgage industry news. Or call 1-800-252-6633.
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