WEBINAR | Appraisers: Is Your ID at Risk? | April 25

Francesca L. Pascavage — Wed, 11 Apr 2018 14:33:50 EST

Don't Fall Victim to Appraiser Fraud

Unfortunately, there has been a notable increase in appraiser ID theft lately. This webinar will take you behind the curtain to hear appraiser ID theft war stories, the warning signs you need to be aware of, and what steps you have to take if this does happen to you.

REGISTER FOR WEBINAR TODAY.

Appraisers: Is Your ID at Risk?

Join Lisa Binkley, Vice President at National Credit Reporting System and Tony Pistilli, General Manager of Valuation Services and Chief Appraiser at Computershare Valuation Services, LLC as they discuss the list of recommendations recently released by the Office of the Inspector General and HUD, helping you to avoid being hit with appraiser fraud.

Walk away knowing:

Ways your ID can be compromised
How you can prevent ID theft from happening to you
What to do when you realize your ID has been stolen
And much more!

Educate your entire office! One live site registration provides access to as many listeners as you can fit in a conference room.

Participants will have the opportunity to ask questions during the webinar and will receive the full PowerPoint presentation and other materials from October Research, LLC publications.

REGISTER FOR WEBINAR TODAY.

Technology -- Friend or Foe in Appraisal Management?

Francesca L. Pascavage — Mon, 11 Dec 2017 17:20:44 EST

For appraisers, there is software available today that significantly reduces the time-consuming burden of documenting the appraisal process and meeting the industry’s requirements under Uniform Appraisal Dataset (UAD) regulations. But is technology the all-inclusive solution that overrides manual applications and does it provide the highest quality reports?

Technology has assisted in making the process simpler and faster for improving accuracy and compliance. And, let’s face it, lenders are seeking high-quality reports in the shortest amount of time for the least cost. At the end of the day, appraisers are competing for business and looking for ways to stand out from the competition. Technology certainly streamlines the appraisal process and allows the opportunity to compete more aggressively if appraisers chose advances in software technology.

Despite the extraordinary benefits of technology, certain aspects in the traditional manual process remain irreplaceable in determining the granular and qualitative value of a property. For example, technology cannot assess a value to the surrounding view, attributes, and condition of neighboring property. Nor can it factor an adjustment if a property happens to be located near a busy highway. Technology does not understand or enumerate area trends, biases or demographics and it will not assess beyond acute analytics. Only the appraiser is the expert at applying the correct formulas and commentary to properly address attribute, condition, and area information. While investing in software is crucial to stay competitive, it cannot make a case for these manual assessments that contribute to a qualitative report.

When it comes to testing appraisal reports, there is no question that technology is fast and thorough. The use of software to test before submission will assist in identifying errors or omissions, and eliminate the time-consuming tasks often associated with manual data-input. Collateral Underwriter (CU™), a proprietary risk assessment application developed by Fannie Mae, is a good technical resource to support proactive management of appraisal quality but these tests should be completed prior to submitting the report to the client to eliminate errors or omissions that require back and forth questions from the underwriter. There is other testing software that checks for completeness, compliance and missing fields such as freeappraisalreview.com that includes guidelines and best practices. Or the appraiser can refer to Uniform Appraisal Dataset (UAD) and Best Practice Rules in Real Estate Appraisals. Traditional processes cannot perform these tests as quickly, or accurately, as software.

Technology IS your friend if you learn to use it effectively and supplement with data acquired through traditional resources and evaluation of a property and surrounding location. Understand how your client's underwriters are interpreting ambiguous data from technical software findings. Elevate the quality review process using both automated quality check tools and field-acquired supplements. Pay particular attention to comparables and adjustments, characteristics of the property, and data integrity. Remember to tell the whole story and don’t leave anything to interpretation - you are the expert!

Francesca Pascavage's Blog

WEBINAR | Appraisers: Is Your ID at Risk? | April 25

Don't Fall Victim to Appraiser Fraud

REGISTER FOR WEBINAR TODAY.

Appraisers: Is Your ID at Risk?

REGISTER FOR WEBINAR TODAY.

Technology -- Friend or Foe in Appraisal Management?