Appraisal Buzz

FEBRUARY 28, 2022

This is the little-known Law of Amara that describes how we perceive the impact of new technology on our lives. A lot has changed over the last two decades, but appraisal data and more specifically, appraisal inspections have remained unchanged. This is the digital transformation of the appraiser’s inspection data.

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Appraisal Inspection Technology Training 482

Housing Wire

SEPTEMBER 5, 2024

These anti-discrimination statutes make it illegal to refuse to rent, sell or lease housing because of a lawful source of income being provided. The report calls on more states and cities to pass “source of income” or “source of financing” anti-discrimination statutes and enforce them to protect homebuyers.

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Buyers Real Estate Agent Inspection Real Estate 476

Housing Wire

MARCH 8, 2023

These include excessive late fees and fees for unnecessary property inspections. Mortgage servicers charged the top late fee amount allowed by relevant state laws, even when homeowners’ mortgage contracts capped late fee amounts below state maximums,” the CFPB said.

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Mortgage Inspection Law Contracts 396

Housing Wire

AUGUST 13, 2024

Home prices are usually inflated, inspections are not made, and loans have high interest rates and balloon payments. In addition, under the same law, when interest rates are higher than benchmarks, consumer protections are activated, including banning balloon payments.

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Contracts Mortgage Law Sellers 482

Housing Wire

APRIL 24, 2024

Examinations conducted by the bureau found mortgage servicers levied charges it deems “illegal,” including prohibited property inspection fees, the issuance of “deceptive” notices to borrowers, and violations of loss-mitigation rules.

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Mortgage Property Taxes Insurance Inspection 476

Housing Wire

MAY 20, 2024

HUD has also added new language to the section about potential second appraisals for the original mortgagee, incorporating language that describes “a potential violation of fair housing laws or professional standards related to nondiscrimination” as one such reason for initiating a second appraisal.

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Reconsideration of Value Mortgage Inspection Insurance 459

The Appraiser Coach

MAY 9, 2023

You may be more familiar with this statement as the law of averages. Averages rule the universe. Let me give you an example as a. Read More

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Law Inspection Advertising Business 195

Housing Wire

JUNE 10, 2022

In 2016, New York passed a law establishing that lenders and servicers must inspect, secure and maintain zombie properties — which are defined as vacant and abandoned homes whose owners are behind on their mortgage payments. . The law allows municipalities to sue companies for $500 per code violation per day until it is resolved.

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Law Inspection Mortgage Finance 448

Housing Wire

MARCH 7, 2022

In a forthcoming paper for Florida Law Review, law professors Juliet Moringiello at Widener University Commonwealth and Christopher Odinet at the University of Iowa studied NFTs potential in real estate. A homebuyer closely inspecting their property before closing also does not strike most observers as a waste of time.

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Real Estate Law Inspection Agents 501

Housing Wire

MAY 21, 2024

Be diligent with a home inspection Since non-disclosure states lack public information on property conditions, a thorough home inspection becomes even more critical. You can request the seller disclose any known issues, and negotiate repairs or price adjustments based on the inspection’s findings.

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Real Estate Agent Real Estate Inspection Valuation 488

Appraiserblogs

APRIL 19, 2023

The Fannie Mae Property Data Collectors program seems to have run afoul of West Virginia law. 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.

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Law Inspection Real Estate Training 140

Housing Wire

MARCH 3, 2021

Reacting to headlines pointing to racial bias in some home appraisals, the Appraisal Foundation this week said that it would require all appraisers to take a seven-hour course focused on fair housing laws and bias. “This part of the course will concentrate on how to avoid both bias and the perception of bias in appraisals.”

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Appraisal Valuation Law Inspection 448

Housing Wire

MARCH 21, 2022

According to Sharga, zombie foreclosures are a byproduct of the complexity of foreclosure laws across the country, mainly in states where foreclosure occurs via a judicial process. Since the Great Recession, states and municipalities have approved laws to make servicers responsible for maintaining vacant properties.

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Law Inspection Insurance Government 370

Appraisal Buzz

JULY 8, 2024

We all have seen the buzz phrases: appraisal modernization, bifurcation, data collectors, desktop and hybrid appraisals, and observation (rather than Inspection). There are also the economics of training new appraisers and the numerous and disparate state laws and lender prohibitions. What am I talking about?

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Modernization Inspection Appraisal Technology 367

McKissock

JULY 20, 2021

Appraisers often balk at assignments that require a more detailed inspection of the subject property (e.g., ” Do you believe you are acting as a home inspector when you complete a property inspection as part of an FHA assignment? Appraisers perform similar inspections, to one degree or another, in most appraisal assignments.

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Inspection Appraisal Construction Clients 105

Housing Wire

DECEMBER 8, 2023

Topics include: Real estate license law, agency, contracts, real property, ownership, taxes, water law, land development and zoning, deeds and title transfer, escrow and settlement, fair housing, leases & more AZ Contract Writing Course: 6 hrs of required instruction.

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Real Estate Contracts Law Real Estate Agent 434

Miller Samuel

NOVEMBER 30, 2018

Those are "PiW" loans or have a "Property Inspection Waiver." of the actual value 50% of the time) and "hybrid appraisers" (which removes the appraiser from the actual inspection of properties) to develop a value opinion. I've heard of fees as low as $8 to do the inspection and $78 for the appraiser.

Appraisal 300

Appraisal Inspection Real Estate Agent Agents 300

Housing Wire

JULY 22, 2024

Quality control reviews include analysis and identification of any property issues and items of safety, soundness, or structural integrity to determine whether the lender appropriately required inspections or repairs prior to the purchase of the home by the borrower.

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Lending Tools Investors Inspection 447

Housing Wire

FEBRUARY 22, 2024

Notably, property risk calls for thorough inspection, preservation, and maintenance to limit liability. Legal and regulatory risk demands compliance with evolving laws and regulations, with VRM Mortgage Service’s legal and compliance departments ensuring current knowledge and implementing controls.

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Business Marketing Real Estate Legal 435

McKissock

JANUARY 11, 2022

Not only will you conduct an extensive lot inspection before construction starts, but you may also need to visit the property during construction—to assess progress and detail when work is complete. You will also need to conduct a final inspection. Inspection during construction. Final inspection. Don’t be lenient.

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Inspection Construction Final Inspection Appraisal 96

Appraisal Buzz

FEBRUARY 7, 2022

Lenders and stakeholders allowed for some level of inspection relief with these two new appraisal products. During 2020 and 2021 as the Covid-19 pandemic global pandemic disrupted our lives and the way we all do business, regulators, agencies, and the government sponsored enterprises allowed inspection relief in certain circumstances.

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Appraisal Inspection Development Technology 435

Appraisal Buzz

SEPTEMBER 12, 2024

Ridge roof designs: Revised definitions and regulatory language allow certain specified roof ridge designs (peak cap and peak flip roof assemblies) without a requirement for specific on-site inspections by a HUD-approved agency, except for certain exclusions.

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Modernization Design Construction Inspection 396

Appraisal Buzz

AUGUST 23, 2024

As a result, Florida on May 26, 2022 signed into law Senate Bill 4-D, which requires structural inspections for condos and additional money to be set aside for repairs. Many homeowners associations are hiking fees in order to comply with the new safety regulations, and also doling out hefty special assessments.

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HOA Insurance Agents Inspection 370

Housing Wire

FEBRUARY 16, 2022

In its announcement, the CFPB said that “former government employees and other individuals who are paid to influence the agency’s rulemaking agenda behind the scenes will be asked to submit their petition for public inspection instead.” Chopra said at the time that agency alumni would not receive special treatment.

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Government Inspection Law Finance 284

Appraisal Buzz

FEBRUARY 17, 2025

First, inspect the site. Upzoning is a movement sweeping the country many cities are changing zoning laws to increase density and address affordable housing issues. Variances can be especially tricky to find, but they can also have a major effect on a potential use, so dont neglect them. Level ground or a steep slope? See diagram.

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Legal Appraisal Easement Valuation 243

Appraisal Buzz

OCTOBER 14, 2024

Today, new technology can assist appraisers, AMCs and lenders with visual inspection, analysis, and intelligence to validate information, detect issues, and derive data-backed insights on every loan. Meanwhile, incomplete or inaccurate information can lead to faulty lending decisions that put lenders and their AMCs at risk.

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Valuation Renovations Technology Appraisal 368

Appraisal Buzz

AUGUST 13, 2024

The advisory judgment upholds the coverage of contracts for deed by federal home lending laws and regulations, which also offer important consumer protections. The study details how predatory lenders prey on low-income borrowers, especially those in religious communities, by using contracts for deeds to set them up for failure.

Contracts 367

Contracts Investors Sellers Lending 367

Empire Appraisal Group

DECEMBER 12, 2024

The tragic collapse of Surfsides Champlain Towers South condo building in 2021 left 98 people dead and led to sweeping reform of the states condo inspection law. Before the Surfside incident, milestone inspections were required at the 40-year mark. Bidding wars? Not just the unit, but the entire building.

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Real Estate Agent Inspection Real Estate Development 78

Housing Wire

NOVEMBER 30, 2023

Considerations for attorneys in Ohio If you are an active, licensed attorney in the state of Ohio, you may be able to apply some of your law degree credits toward the Ohio prelicensing course requirements. Be honest and truthful Not be convicted of a disqualifying offense. government-issued alien registration card U.S.

Real Estate 459

Real Estate Real Estate Agent Brokerage Agents 459

Housing Wire

JANUARY 27, 2023

population — or over 44 million households — live in rental housing, but there are no comprehensive federal laws to protect renters. The Department of Justice (DOJ) stated in the blueprint that it has the duty to guarantee housing to military members and to assist them in housing inspections before signing a lease.

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Tenants Landlords Finance Government 435

Housing Wire

AUGUST 14, 2023

It was originally called Ayr Hill, named after the hometown of Broadwater’s son-in-law: Ayr, Scotland. All of the homes that we have sold recently have sold in the first weekend with multiple offers at $50,000 to $100,000 over list price with no home inspection,” Casey Samson, the leader of The Casey Samson Team, said.

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Housing Market Marketing Inventory Agents 370

Appraisal Buzz

OCTOBER 1, 2024

The most significant change to the insurance code is Senate Bill 2A, signed into law in December 2022. The intention of the law was to ensure policyholders have access to quality, affordable private market property insurance. The program provides the ability to obtain free home inspections to identify storm mitigation measures.

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Insurance Marketing Law Modernization 221

Housing Wire

FEBRUARY 8, 2022

Federal laws aren’t the only ones servicers have to contend with. The National Consumer Law Center (NCLC) identified executive declarations and court orders in 34 states as of April 2021. To compare, according to the Mortgage Bankers Association ( MBA ) data, new foreclosure cases were at 0.8%

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Law Mortgage Legal Finance 370

Housing Wire

MARCH 1, 2023

Both the Securities and Exchange Commission (SEC) and General Services Administration (GSA) are looking to amend disclosure law to better account for climate risk among public companies and the federal contractor supply chain , respectively.

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Insurance Supply Chain Design Government 397

Housing Wire

SEPTEMBER 8, 2022

The pleadings ask the court to grant class-action status to the litigation, arguing that the defendants KeyBank and OSC were negligent in failing to adequately monitor, inspect and control data-security practices. “[OSC This incident does not affect any Key systems or operations.

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Insurance Mortgage Clients Inspection 397

Lamacchia Realty

MARCH 9, 2022

WHAT TO DO IF A BUYER REQUESTS REPAIRS AFTER INSPECTION. A common issue that many sellers are not prepared to deal with is a buyer requesting repairs after the inspection. Before someone purchases a home, a home inspection is typically done. It’s not a secret that it has been a seller’s market for the past few years.

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Mashvisor

JULY 27, 2021

Although home inspections aren’t required by law, most investors can’t afford to do without the benefits they offer. It’s best to find out about potential problems before you make a…

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Inspection Investors Law Investing 66