The Cost approach. What is it? Another method an appraiser may use to develop an opinion of value is the cost approach. In a nutshell, it’s a breakdown of what the cost would be to rebuild the property today if it were destroyed – but it’s not that cut and dry. The term reproduction cost is used if an exact replica of the original property is produced. If a property…
One of the most common questions we hear from borrowers and even lenders is – the borrower switched lenders and we need the appraiser to change the lender name. Can the appraiser just switch it without having to do a new assignment? The answer is no. If the appraiser changes the name of the lender/client, the appraiser is no longer following the Scope of Work Rule as required by the…
Governor Rick Scott announced the appointment of Cristy Conolly, SVP of Compliance with Nationwide Appraisal Network to the Florida Real Estate Appraisal Board (FREAB) TALLAHASSEE, Fla. – Governor Rick Scott announced the reappointment of one and the appointment of two to the Florida Real Estate Appraisal Board. Janet Rabin, 60, of Fort Myers, is an appraisal analyst for DiTech Financial. She succeeds Matthew Simmons and is appointed for a term beginning…
NAN is very pleased to announce that Joe Beatty has joined our Vendor Relations Department as Appraiser Relations Manager. He joins two veteran Appraiser Relations Coordinators; Marilyn Fullwood and Cindy Bechtel. Joe comes to us from Indianapolis, Indiana and for the last 6 six years he has worked for an Appraisal Management company holding various roles. Prior to starting his career in the AMC industry, he worked for a family owned Property Management company….
Appraiser News By: Mike Holzheimer When checking appraisal reports for compliance, Nationwide Appraisal Network Director of Quality Assurance and Compliance Cristy Conolly said there was one piece of information commonly left out of reports. She told Valuation Review that without it, the appraiser’s credibility can be called into question. “Data to support the adjustments made is often times not provided,” she said. “A lot of appraisers will make adjustments…
Appraiser News By: Mike Holzheimer When checking appraisal reports for compliance, Nationwide Appraisal Network Director of Quality Assurance and Compliance Cristy Conolly said there was one piece of information commonly left out of reports. She told Valuation Review that without it, the appraiser’s credibility can be called into question. “Data to support the adjustments made is often times not provided,” she said. “A lot of appraisers will make adjustments…
“Dot your i’s and cross your t’s” (or is it the other way around?) While this rule may have been pounded into us throughout grade school, the basic principle still applies in all we do. Real Estate appraisals are no exception. Most Appraisal Management Companies (AMC’s) have always dotted those i’s, and individual appraisers have strived to cross their t’s. But after the travails of the 2008 housing crisis and…
FOR IMMEDIATE RELEASE: (May 05, 2015) Nationwide Appraisal Network (NAN), Confirms It Exceeds All Minimum Requirements As Issued In Final Rule For Appraisal Management Companies (AMC’s) Tampa, FL: Nationwide Appraisal Network (NAN) Announced that as a nationwide appraisal management company, they are registered and licensed in all 38 states that currently have AMC oversight policies and regulations in place and that they have a panel of nearly 9000 approved Appraisers…
NAN’s Compliance Portal Information at your fingertips – Our Compliance Portal provides updated policies, state registration certificates, insurance coverage and more to our existing clients. Click here to request access and see for yourself. Continuous training We provide quarterly mandatory compliance training and testing to every single NAN team member. We also provide compliance training to our Clients and Appraisers through webinars and white papers. Visit our NAN University to see what…
Do you know the difference between an FHA Appraisal & Conventional Appraisal? FHA and conventional appraisals used to have vastly different guidelines and requirements. Over the last few years, the industry as a whole has tightened appraisal guidelines, while FHA loosened theirs in 2005. These changes have blurred the once distinct line between FHA and conventional appraisal specifications.
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