Understanding Appraisals

By | AMC Communication, Appraisal Compliance, Appraisals, Appraisers, Borrowers, Customer Service, Dodd-Frank, Fees, Mortgages, Nationwide Coverage, Valuation | No Comments

Effective January 2014, rules adopted by the Consumer Financial Protection Bureau (CFPB) allow borrowers to receive copies of all valuation products ordered with their loan (even if the lender did not rely on them three days prior to closing.) Various valuation products (appraisals, AVMs, BPOs) may produce different values and cause confusion for borrowers. 

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New Loan Originator rules from the CFPB

By | AMC Communication, Appraisals, Dodd-Frank, Fees, Mortgages | No Comments

As most of us are aware the Consumer Financial Protection Bureau (CFPB) is amending Reg Z to implement amendments to the Truth in Lending Act (TILA) mandated by the Dodd-Frank Act, which leaves loan originations in very familiar territory. Asking them same questions they have been asking for several years now “How does this affect me”? The answer is just as confusing as ever. Let’s try to make some of…

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Nationwide Appraisal Network Exceeds Average AMC Fees in Texas

By | AMC Communication, Appraisal Compliance, Fees | No Comments

Texas recently conducted a study on Appraisal Management Companies and Real Estate Appraisers. 1584 appraisers and 55 AMCs were surveyed on various aspects of valuation services. The questions were designed to determine the following: Clearly  distinguish between the fees paid to appraisers by Appraisal Management      Companies and fees paid by non-AMC clients for residential appraisals. Capture  any difference in fees paid by property type: single family, condominium,      size or square…

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