Part of the Dodd-Frank Act, officially the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010 required the Appraisal Subcomittee (ASC) to create a complaint hotline. The Appraisal Complaint National Hotline will allow lenders, homebuyers, and appraisers themselves to report complaints about alleged non-compliance with USPAP and/or appraisal independence requirements.
March 2013 Blog Posts
As an Inspector, you know one of the most important structural components of a home is the roof. Naturally, evaluating a roof’s condition is a critical step of your inspection process, however it’s also reportedly the number one complaint of homeowners who claim that a mistake was made during their home’s inspection.
Increasing demands by clients on appraisers is not news. The quality of work and the quick turn-around is a must. Appraisers who are diligent and thorough still spend 8 hours or the time necessary to complete an appraisal and feel confident about their work in the report being submitted. AMCs are held to stricter review guidelines as well, so the appraisal submission should be professional and seamless.
It’s that time of year again when Uncle Sam comes knocking (not-so-patiently) at your door. When it comes to business taxes, the name of the game is to maximize the value of the write offs you can legitimately take in order to minimize your taxable profits.
From the first moment we start getting interested in driving all we hear from everyone around us is how important it is to drive defensively.
Auto insurers run entire ad campaigns based on defensive driving. Parents repeat it every time they hand over the keys. Driving instructors insist on it. Even passengers try to help by pointing out you are too close to the curb, too close to the car next to you, or too close to whatever other possible risk exists on the road.
The Consumer Financial Protection Bureau (CFPB) has been busy lately. Recently, the CFPB has released three new rules that will have an impact on the mortgage lending and appraisal industries.
As of January 28, 2013, Fannie Mae started placing greater restriction on the data they collect to ensure uniformity. You will now begin seeing a “hard stop” issued by Fannie Mae on messaging. This change affects Appraisers working with AMCs or other lenders who submit data to Fannie Mae.