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appraisers

Appraisals in Disaster Areas

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Question: What documentation is required after the appraisal is completed and the subject property is located in a disaster area?

Answer ...
With hurricane season and wild fires in full swing, the question is common to all agency types of loans: FHA, VA, Conventional, and USDA. Such natural disasters include, but are not limited to, hurricanes, mud slides, rising waters/flooding, wild fires, tornadoes, et cetera.Click to continue

Transferring Appraisals: Helping Lenders and Brokers Understand How Standards and Rules Intersect

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Although appraisers and lenders work closely together, the Appraisal Institute believes that there is still some confusion in the marketplace over when, if and how appraisals can be transferred.Click to continue

ReverseVision Adds Landmark Network's RLOS Platform

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ReverseVision Inc. has announced the addition of appraisal services from Landmark Network to the ReverseVision Reverse Loan Origination System (RLOS) platform. ReverseVision’s RLOS offers a library of tightly integrated services that streamline the reverse lending process. The addition of Landmark Network’s appraisal service enables ReverseVision users to simply order an appraisal with the click of a button. Not only does the integration place the order, but also it automatically updates the loan record with details from Landmark as the appraisal is being processed.Click to continue

LRES Names Scott Pickell VP of Operations

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LRES, a national provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries, welcomed Scott Pickell as its new vice president of operations, responsible for strategic planning, labor efficiency, budget spending, engineering effectiveness, material spending and customer service.Click to continue

LRES Launches New Auto-Assignment Offering

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LRES has launched an updated version of its auto assignment technology to further streamline and accelerate the placement, tracking and completion of appraisal and BPO order requests for qualified service providers. LRES’ auto assignment technology automates the selection process and ensures that the most appropriate appraiser or real estate agent receives each assignment. The system achieves this by automatically matching the assignment to the proximity of the subject property, while taking into account turn-time and quality.Click to continue

Appraisal Institute Releases Guidance on Analyzing Exposure Time

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The Appraisal Institute has published guidance to help appraisers understand exposure time and how to incorporate its analysis into an appraisal. The Appraisal Institute’s “Guide Note 14: Concept of Exposure Time” addresses how appraisers should link exposure time to their value opinion and comply with the Uniform Standards of Professional Appraisal Practice (USPAP). Exposure time refers to the time a property remains on the market.Click to continue

Appraisal Institute Assists Appraisers With Performing Evaluations for Lenders

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The Appraisal Institute has published guidance to help appraisers learn what evaluations are, when they are used and who can prepare them. The Appraisal Institute’s “Guide Note 13: Performing Evaluations of Real Property Collateral for Lenders” addresses how appraisers should prepare an evaluation for a lender and comply with the Uniform Standards of Professional Appraisal Practice (USPAP).Click to continue

Comergence Releases New Appraiser Watchdog Tool

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Comergence has announced the launch of its due diligence and surveillance service for the appraisal industry called Eagle Eye, a powerful new solution for the management of background checks on appraisers. Comergence has simplified and lowered the expense of the appraiser due diligence process by providing lenders and appraisal management companies (AMCs) with a system that will allow them to make more informed decisions on the appraisers with whom they are doing business.Click to continue

New Book Examines Water Rights and Their Impact on Appraisals

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With the world population estimated to have re­cently passed seven billion, the global freshwater market will be a “seller’s market” for the foreseeable future, according to a new book by the nation’s largest professional association of real estate appraisers. The Appraisal of Water Rights, published by the Appraisal Institute, encourages appraisers to become geographically competent in order to provide credible, reliable opinions of value for properties involving water rights.Click to continue

NASN Launches New Mobile Site for Clients and Appraisers

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Nationwide Appraisal & Settlement Network (NASN) has announced the release of its mobile Web site for clients and vendors on the go. The new mobile site offers no more waiting for the appraiser to get to an actual computer or to find the time to call and update files. Another added benefit for their clients on the go is instant communication with the NASN team by either logging on or by sending a message right through the mobile site.Click to continue