Red flags and compliance discussed at AI, ABA teleconference on appraisal review.
The Appraisal Institute and American Bankers Association held a joint telephone briefing October 26, titled "Appraising the Appraisal: Understanding the Appraisal Review Process," wherein panelists discussed red flags, best practices and ambiguity regarding compliance relating to the review process. Panelists ranged from regulators to lenders to private...

True to form: the future of appraisal forms software. (Technology).
CONTROL FREAKS...don't you just love them? The same lending institutions that foot the bill for a large percentage of all residential mortgage appraisals today are again being accused of attempting to exert too much control over the independent appraiser. This time, through appraisal forms software. For the...

The profession ... ensuring it is a profession. (Viewpoint).
LICENSING AND CERTIFICATION of real estate appraisers has had a significant impact upon the appraisal profession. It is the view of many--and a view I share--that licensing and certification undermined the professionalism of the appraisal profession. Other factors have certainly had an impact, but inadequate requirements for...

Appraisal Institute visits China to explore potential possibilities.
THE SUSTAINED ECONOMIC GROWTH IN CHINA over the last 10 years has created vast, dynamic and exciting real estate markets and enormous opportunities for real estate professionals. Although the government owns all land and exerts more control over enterprises than in the United States, development in China exhibits many...

Phone-y business.
"We'll talk about this when you get home, Son, but I can't override your teacher's decision." "Please listen carefully, as our menu has changed. Press #1 to hang up. Press #2 to repeat this menu." "Thank you for calling State Trust Bank. Push 1 for...

OTS Regulator Holds Superior Bank Owners Accountable for Its Failure. (Industry & Institute News).
In tense testimony on October 17 before the Senate Banking Committee, Ellen Seidman, outgoing director of the Office of Thrift Supervision, stated outright that the former owners of the $1.8 billion Superior Bank in Hinsdale, Ill., which was seized by federal regulators on July 27, basically just "walked away"...

A glance at the 108th Congress.
The Congress will be occupied fighting the War on Terrorism and addressing national security issues for much of the 108th session. However, domestic policy and economic issues will not be ignored. With the economy struggling like it has the past three years, Congress will focus their remaining attention on...

Back to the future: A new World Savings Bank recapture the cheery optimism of the 1989 World's Fair. (Architecture).
I've always had a weakness for "World's Fair" architecture. As a child, I was facinated by the trylon and perisphere, symbols of the 1939 Fair held in Flushing, Long Island. After a family visit to the site, I pored over photographs of the futuristic buildings, believing that such structures...

Taking it to the people.
It's not often that an Appraisal Institute president has to face a group of disappointed and angry homeowners in the line of duty, but something like that happened in June when I testified at a Congressional field hearing conducted by Reps. Richard Baker, R-La., and Paul Kanjorski, D-Pa., in...

Regulators mindful of appraisal independence.
The five major bank regulatory agencies addressed concerns identified during examinations about the independence of the collateral valuation process in a joint statement to the industry October 28. The statement clarifies and reminds banks of the existing standards for independence within the appraisal and real estate lending regulations and...