Photos: the good, the bad and the ugly.
BACK IN THE DAYS WHEN WE USED POLAROIDS, it was understandable that appraisers took only the photos they were requested to take: back, front and street scene. However, with the advent of small cameras, one-hour photo service and digital photography, photos may be one of the appraiser's best defenses...

Spot predators before they risk your career.
PROFESSIONAL APPRAISERS TREASURE THEIR RELATIONSHIPS with reputable lenders who serve clients responsibly over the years. These lenders work with creditworthy consumers in financing a new home purchase, refinancing, or home equity loans from a creditworthy position and such lenders enjoy a solid reputation in the real estate community. Their...

Appraiser Watch official; identifies, doesn't remove.
The Department of Housing and Urban Development officially instituted its Appraiser Watch in November, with an emphasis on identifying questionably performing appraisers, rather than triggering sanctions against appraisers and their subsequent removal from the Federal Housing Administration approved roster. The initiative was modified from its July 2002 Notice of...

HUD issues final rule on Lender Accountability.
Addressing the activities of corrupt appraisers and lenders, the Department of Housing and Urban Development published its final rule on FHA Single Family Mortgage Insurance and Lender Accountability for Appraisals on July 20. The ruling, which went into effect Aug. 19, 2004, clarifies that lenders are accountable for the...

Fallout from the Poconos: appraisal scrutiny and lawsuits.
In follow-up to the fraud hearings that grew out of the inflated appraisals of housing in the Poconos, the Monroe County (Pa.) Task Force released its study of foreclosures and announced it would seek state help for homeowners with financial problems at a press conference convened by the State...

JAPAN'S DOMESTIC CONSUMPTION WOES.
Through the early months of 2003, Japanese internal consumption lingered near a 20-year low and it looks as though the panorama will not improve significantly this year. One of the biggest obstacles to a rebound in domestic demand is low consumer confidence arising from stubbornly high unemployment. ...

HIPAA's small-group access laws: win, loss, or draw?
Perhaps the least controversial aspect of the Health Insurance Portability and Accountability Act (HIPAA) is the set of provisions regulating access to health insurance by small employers (those with 2-50 workers). HIPAA builds on an extensive set of regulations that states began enacting in the early 1990s to make...

HUD/FHA remains on GAO's 'high risk' list.
While praising the progress made by the Department of Housing and Urban Development in addressing the weaknesses in its Federal Housing Administration single-family program and rental assistance programs, the Government Accounting Office is keeping the programs on its high-risk list, since more work still needs to be done. ...

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...

10 ways to develop new business.
ONE IMPORTANT RESPONSIBILITY OF A PROFESSIONAL SOCIETY is to provide members information and guidance on how markets are changing and where opportunities may arise for members. The Appraisal Institute has done this effectively at a high level--accurately forecasting changes driven by technology, market consolidation, regulatory changes, globalization and new...