Be Flexible

The Washington Post asked sixteen experts what they thought has gone better and worse than expected nearing the three year anniversary of Dodd-Frank. Link to the article here: http://www.washingtonpost.com/blogs/wonkblog/wp/2013/07/20/does-dodd-frank-work-we-asked-16-experts-to-find-out/?wprss=rss_ezra-klein

The Appraisal Standards Board (ASB) writes Advisory Opinions (AO) to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. Here is AO-20 on appraisal review assignments that include the reviewer’s own opinion of value. “A client may want an appraiser, […]

The Appraisal Standards Board (ASB) writes Advisory Opinions (AO) to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. Here is AO-21 on real property, personal property and intangible property “Individuals perform numerous roles within the broad realm of valuation services. […]

“The OCC, FRB, FDIC, OTS, and NCUA are issuing final Interagency Appraisal and Evaluation Guidelines (Guidelines) to provide further clarification of the Agencies’ appraisal regulations and supervisory guidance to institutions and examiners about prudent appraisal and evaluation programs. The Guidelines, including their appendices, update and replace existing supervisory guidance documents to reflect developments concerning appraisals and evaluations, […]

“The current residential appraisal system is impaired due to inconsistent and conflicting standards and guidance; inadequate and uneven oversight and enforcement; a shortage of qualified and experienced residential appraisers; and, the absence of a robust and standardized data system. The National Association of Home Builders (NAHB) believes these problemsmust be addressed in order to restore […]

“Section 1474 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the ECOA, section 701 (e), to require creditors to provided loan applicants with copies of all appraisals and other written valuations obtained in connection with applications for loans to be secured by a first lien on a dwelling, regardless of loan […]