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Elliott & Company Appraisers

Value Nation: Appraisal Review Goes High-Tech


This month’s column is the first of three installments that I am writing to bring attention to and to extol the virtues of the three most-commonly used appraisal review reports as a quality control tool. These tools are:

►The Electronic Appraisal Review,

►The Desk Review, and

►The Field Review.

They are listed in the order of the least comprehensive to the most comprehensive. This series of columns is designed to assist the reader in making the proper decision as to which review tool is best for a given situation.Click to continue

ValueNation: The Appraisal Review … Its Time Has Come


Most on the origination side of the lending industry have scarcely heard the term, “appraisal review.” Those who have heard of it probably do not know what and when it has been used as a lending resource. It is one of these obscure products and terms that many are cognizant of at a subliminal level, but that we seldom have a reason for an understanding of.Click to continue

Avoiding deals with property value issues


If we could somehow collect and reinvest all of the resources wasted on potential loans that do not close due to unrealistic property value exercitations, we would be wealthy individuals. This is especially true in today’s environment of underwriter skepticism and the tightening of standards due to the recent mortgage meltdown. We are not talking about appraiser mistakes that do occur from time to time. We are talking about circumstances where the property value simply is not there.Click to continue

Dusting off and enhancing the review appraisal

Value Nation Pic

Over the years, it seems that there has been as many property-evaluation tools out there as Carter has pills. Fannie Mae and Freddie Mac have a plethora of different appraisal forms, and they are constantly undergoing change.Click to continue

Appraisals, BPOs and AVMs

Appraisal Pic/Credit: Brand X Pictures

It seems that the opinions of those in the lending community, involving the different methods, procedures and practices pertaining to the evaluation of collateral, vary. Most of us have grown accustomed to appraisals; however, there are other methods being used that many of us never have had reason to become aware of.Click to continue

Value Nation: The mortgage meltdown and appraiser selection

Mortgage Meltdown Pic

Within the past couple of years, we have experienced a complete meltdown of our economy, the mortgage industry and our banking system. As a result, we have witnessed wholesale changes in the way appraisals are purchased. Mortgage brokers, loan officers and anyone else with a financial interest in a transaction are unable to purchase appraisals.Click to continue

ValueNation: Is more regulation the answer?

ValueNation Artwork

Whether you are a real estate attorney, agent, appraiser or lender, you have, no doubt, felt the effects of mortgage loan government regulation, in recent years, and particularly, in recent months. Even among those whom have been less affected in the past, there is the constant threat of additional regulation coming down the pike. Over the past three or four decades, we have seen growing government regulation creeping into our industry at practically every level of government.Click to continue

ValueNation: Foreclosures as comps?

Housing Gap Pic

We have all heard complaints concerning appraised values being lower than selling prices in today’s recessionary environment. The buyer wants to buy a property and the lender wants to make a loan, but the appraisal stands in the way. There are a lot of possible reasons for this, and not all situations are the same.Click to continue

Elliott & Company Appraisers promotes Carlyle Holt to VP position

Elliott and Company Appraisers Logo

Elliott & Company Appraisers has announced the promotion of Client Services Director Carlyle Holt to the position of vice president. Holt literally grew up in the mortgage lending industry and has an extensive background in property and casualty insurance and commercial and residential construction restoration. He has a bachelor’s degree in economics from North Carolina State University and currently holds a North Carolina Loan Officer License and a North Carolina Real Estate License.Click to continue