Appraisal, Appraiser Fraud Down Significantly

Recent reports have shown that cases of appraisal fraud have dropped dramatically, but mortgage fraud is on the rise.

The quarterly report from the U.S. Department of the Treasury Financial Crimes Enforcement Network released in January showed good news for the valuation profession. It statedFraud_house that incidents of appraisal fraud plunged from 2013 to 2014, dropping from 7,641 cases in 2013 to 2,033 in 2014 [See Depository Institutions, Exhibit 5]. This was the sharpest percentage decrease of any other type of fraud tracked by FinCen. [Read more…]

Fracking and Real Estate Valuation in the U.S.

AntifrackingAppraisal Institute President-Elect J. Scott Robinson, MAI, SRA, AI-GRS, educated German valuation professionals at the March 18-19 HypZert Annual Conference in Frankfurt about fracking and its potential impact on U.S. land values. HypZert is Germany’s leading national organization for valuers working in real estate valuation and analysis in the financial industry with international partners. [Read more…]

Small Home Improvements Can Pay Off Big

A harsh winter and improving home sales have some homeowners eager to give their properties facelifts. But major remodels, like kitchen or bath overhauls, may not add significantly to the value of a home.

Remodeling magazine’s most recent Cost vs. Value report says that simpler, less expensive projects have the best return on value. Here are a few suggestions appraisers can give to residential clients for projects that won’t cost a lot of time or money:
[Read more…]

2016-17 Edition of USPAP to Include Revisions

Approximately two years ago, the Appraisal Standards Board of The Appraisal Foundation began the revision process for the Uniform Standards of Professional Appraisal Practice. The process

uspap-2016-2017

included the preparation and release of four exposure drafts, numerous public meetings and the review of extensive comments from interested parties.

The Appraisal Institute submitted comments on each exposure draft and attended all of the ASB’s public meetings. On Feb. 6, 2015, the ASB concluded the USPAP revision process with the adoption of revisions to USPAP that the ASB does not anticipate will significantly change the way that appraisers practice. The revisions that will become effective Jan. 1, 2016 include (revisions indicated in italics):

[Read more…]

Fannie Mae Clarifies CU Details; AI Seeks More Answers

ai-blog-presidents-header-2015 I’m very excited to let you know that AI has secured an outstanding keynote speaker for this year’s Annual Meeting.

Photographer Dewitt Jones to Keynote AI Annual Meeting
The Appraisal Institute announced February 18 that Dewitt Jones, a National Geographic magazine photographer, author and Academy Award-nominated film director, will be the keynote speaker at its 2015 Annual Meeting, which takes place July 27-29 in Dallas.

[Read more…]

Video: What Was Your Most Unusual Valuation Assignment?

In the Appraisal Institute’s latest video, four AI professionals share their most unusual valuation assignments. AI individuals provide valuation services around the world and are often tasked with providing opinions of value for interesting properties in out-of-the-ordinary places. [Read more…]