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What is “customary and reasonable”?

The Dodd-Frank Financial Reform Law – on page 2215 says “Lenders and their agents shall compensate fee appraisers at a rate that is customary and reasonable for appraisal services”

ValueLink AMS – Version 3.3 released

On August 20, 2010, we released version 3.3 for ValueLink appraisal management software. In this version we have added several new features to improve the functionality available within ValueLink.

Is the Dodd-Frank bill a game-changer for the appraisal industry?

On July the 21st 2010, President Barrack Obama signed the Dodd Frank Wall Street Reform and Consumer Protection Act. This 2300-page legislation consists of an Appraisal section that puts the much maligned HVCC to rest. Yet it remains to be seen what the long term impact of this legislation will be on the appraisal industry.

Sales of New and Existing Homes hit Rock Bottom!

In line with the recent trends, the number of contracts for purchasing previously owned homes fell again in June. 90% of the housing market sales depend on existing homes. According to the Realtors Group the number of existing homes sold fell by 5.1 % in June.

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