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A company with AMC roots was, or is, recruiting people to become “propertyinspectors” with the resulting reports potentially fed to other appraisers who do HYBRID, or maybe even DESKTOP reports. Appraisers, I’ve… The post ‘Opportunity’ to Work for Free is Not a Plan appeared on Appraisers Blogs. How will that be done?
The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection. ARTICLE 38. THE REAL ESTATE APPRAISER.
In many cases, this means that a person (who may or may not be an appraiser) collects information on the property via propertyinspection and a computer does the valuation. The person conducting the propertyinspection may not be licensed or have enforceable standards of practice, so the borrower experience can vary widely.
In many cases, this means that a person (who may or may not be an appraiser) collects information on the property via propertyinspection and a computer does the valuation. The person conducting the propertyinspection may not be licensed or have enforceable standards of practice, so the borrower experience can vary widely.
First, “third party” inspections. Appraisal trainees aren’t good enough, so now we will have unlicensed inspectors going through the homes of unsuspecting homeowners. And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. appeared on Appraisers Blogs. The End of Appraisers?
A phone app would be utilized to post assignments and anyone willing to take on the assignment would grab it and complete the inspection. An example that I have read about that is the basis for this new appraisal inspection process and framework is that of the medical assistant. What is the training of the propertyinspector?
NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, economics analysis, Fannie getting rid of appraisers?, Fannie Mae sees the appraisal process as “inspection + value.” Next month’s newsletter will have a lengthy article on the issues of the propertyinspector.
During my term as an appraisal board member in my state, I encountered several cases in which a mixed-use property or commercial property was appraised as a residential property so a borrower could obtain a residential mortgage. Read on blog www.appraisaltoday.com/blog Posted by noon Friday. baths, 19,660 sq.ft.,
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