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Fannie Mae Announcement 09-11 Requires Submission of Electronic Appraisal Reports in MISMO XML Standard - 05/31/09 06:47 AM
In Announcement 09-11, New Data Delivery Requirements, Fannie Mae announced changes to the loan delivery file and the Uniform Residential Loan Application (Form 1003) to accommodate new data elements required by the Federal Housing Finance Agency (FHFA).
Download Fannie Mae Announcement 09-14-Electronic Appraisal Reports
These changes are intended to result in enhanced identification and accountability of key parties in the mortgage transaction and are another step in Fannie Mae’s ongoing efforts to improve loan quality.
In the coming months, Fannie Mae will announce a series of other policies intended to improve loan quality, including the implementation of a robust … (3 comments)

Post-HVCC Implementation: Are appraisers still feeling the pressure? - 05/16/09 08:25 AM
As most of you know by now, the Home Valuation Code of Conduct went into effect on May 1st. Its primary purpose is to insulate the appraiser from outside influences that would apply pressure to the appraiser to inflate values.
Unfortunately, I have been receiving complaints from our members (ICAP) regarding lenders and AMC’s asking appraisers to reconsider their values. Some of the lenders and AMC’s have even created a form for this purpose. It appears that these forms are being completed by lenders agent or the borrower in most instances. Clearly the borrower is unhappy with the value conclusion and they … (9 comments)

Illinois "Appraisal Bill" HB 1015 Passes Unanimously - 05/14/09 09:33 AM
After three years of trying, it finally took a new Governor and a persistent ICAP to get Appraisal Bill - HB1015 passed. The Bill passed in the Senate yesterday unanimously! It will now go to Governor for signature.
This is not a new law, but an amendment to the existing law.  Brian Weaver will be covering many of the changes the new law brings to the appraisal industry in Illinois at ICAP's summer seminar.
You can read the bill as introduced here: http://tinyurl.com/oh9ec4
The following is a brief Synopsis of some of the changes.
Synopsis As Introduced Amends … (1 comments)

Zaio Establishes New Terms with Zone Owners for United States Launch - 05/13/09 08:09 AM
CALGARY, May 12, 2009 Zaio Corporation("Zaio" or the "Company") announced today that the Company has signed a letter of intent and term sheet ("Terms") with the Zaio Zone Appraisers in the United States to proceed with a plan to complete the Company's national valuation database and offer services to lenders across the country.
The new Terms are expected to solve certain barriers that Zaio experienced in the past while compiling the world's first appraiser certified national valuation database.
Zaio will be issuing a national license for its patent pending technology to a new US entity which will be owned and operated … (2 comments)

Join the iPhone Real Estate "Twibe" - 05/09/09 06:39 AM
You've probably seen my Appraiser's Water Cooler Group - Appraiser Tribes ? There I've promoted the POWER of groups of real estate appraisers joining together for common goals on a local or regional basis.
Here's ANOTHER form (or forum) of collaboration that harnesses the power of http://www.Twitter.com by pulling "Tweets" from group members whenever they use one or more keywords.
The service is http://www.Twibes.com and I've create one especially for those of us that are using our iPHones in our appraisal, sales, or inspection businesses.
The Twibe is: http://www.twibes.com/group/iPhoneRealEstate
Once you've joined . . . Anytime you "Tweet" about an iPhone … (0 comments)

iPhone GPS for Appraisers - GeoTagging Location / Photos - 05/09/09 06:37 AM
Ever been out taking rural comp photos and then want to accurately plot them on a map? Maybe one of the many iPHone GPS apps would be the key? They range from FREE! to $4.99 on up! Here's a couple that I've played with: Simple GPS This is great if you just want to know where you are, look at a map, and then send yourself (or someone else) a link to that location. It's super fast and easy. Cost: $.99 Motion X GPS Lite There are both FREE (Lite) and paid ($2.99 limited time offer) versions. This is a MUCH … (0 comments)

Follow Me on Twitter and Join the Appraisal Scoop "Twibe" - 05/09/09 06:30 AM
Are YOU interested in building a Tribe? Consider Twitter! Twitter is a micro-blogging platform and it's a little different from any other online or social media tool. When people first begin using it, it can seem overwhelming and confusing.
How can you really type anything of substance in 140 characters or less?
The first thing I usually advise is that you take some time getting familiar with how it all works.
Put up a picture of yourself, find some others to follow, and "tweet" some updates. It may seem a little like you are talking to yourself to do this especially … (0 comments)

 

Brian Davis

Bloomington-Normal, IL

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Brian J. Davis & Associates

Office Phone: (309) 662-4070

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