Comment on Navigating Hybrid Appraisals by Terrence P Kelly

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I too believe that much of the concern with these hybrid assignments can be resolved with a proper SOW. My problem with these hybrid products is why it takes so long to arrive at a consensus as to whether they are “OK” to complete if you have a proper scope of work in the report. It should be a Yes or No answer. I get really tired of hearing that old fall back, “Its a business decision”. What does that even mean? They’re okay to do until you get looked at closely by your state board? Really!?

Source: Working RE Magazine

Five quick questions with appraiser Lori Noble

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Appraiser Lori Noble waxed on the valuations, its image, regulation and automation in a live Twitter interview with HousingWire Editor-in-Chief Jacob Gaffney.
Source: HousingWire Magazine

Court of Appeals rules against CFPB, vacates PHH’s $100M fine for alleged RESPA violations

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While the main story coming out of Wednesday’s stunning decision from the Court of Appeals for the D.C. Circuit was the court upholding the constitutionality of the CFPB, the bureau didn’t escape unscathed. The full Court of Appeals upheld the court’s earlier decision that former CFPB Director Richard Cordray far exceeded his authority as director when he handed down a seven-figure fine against PHH for RESPA violations.
Source: HousingWire Magazine

Housing industry applauds Trump’s State of the Union address

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As expected, the president touched on topics such as recently passed tax reform and the ongoing immigration debate in his State of the Union address Tuesday night. Housing experts applauded the president’s speech, but one pointed out that while Trump’s claimed the economy is be booming, low levels of affordability and rising home prices continue to plague the housing market.
Source: HousingWire Magazine

Walter Investment will stay in bankruptcy a little longer than expected

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Earlier this month, Walter Investment Management Corp. said it expected to exit bankruptcy proceedings at the end of this month, Jan. 31, 2018 to be exact. Well, it’s January 31, and the company isn’t ready to emerge from bankruptcy quite yet.
Source: HousingWire Magazine

NAR: Pending home sales rise for 3rd straight month, but there’s trouble on the horizon

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Pending home sales rose in December for the third straight month, providing further evidence that 2017 was a positive year for housing, but the National Association of Realtors doesn’t expect the good times to keep rolling. But combine continually low housing inventory and the Republican tax plan and you have a recipe for a slowdown, according to NAR Chief Economist Lawrence Yun.
Source: HousingWire Magazine

ADP: January to post strongest service jobs gain in more than a year

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January is set to see the strongest gain in employment in more than a year, according to the ADP and Moody’s Analytics National Employment Report. ADP explained given the strong January job gain, 2018 is on track to be the eighth consecutive year in which the economy creates more than 2 million jobs.
Source: HousingWire Magazine

Mortgage rates drop for first time in 2018

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Mortgage applications dropped 2.6% from last week, according to data from the Mortgage Bankers Association. While the refinance and purchase indexes both decreased, refis fell to their lowest market share since August last year.
Source: HousingWire Magazine

Stunner: Court of Appeals reverses earlier ruling, declares CFPB constitutional

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In a stunning reversal of its previous decision in favor of PHH Corp., the full Court of Appeals for the District of Columbia Circuit ruled Wednesday that the Consumer Financial Protection Bureau is constitutionally structured.
Source: HousingWire Magazine

Comment on Navigating Hybrid Appraisals by Jeff Chandler

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Appraisers cannot make more money with this unprofessional way of thinking. In fact, they would need to do several reports per day and institutions are not making that many orders. Just another way to have the computer get it cheaper, quicker and allow someone else to take blame for the lack of accuracy. Thanks to continuous comments and advertising of this trash, your creating this product to become popular and forcing this needed profession to the result of the car industry.

Source: Working RE Magazine