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Most recent emails
Email archives - 10-01
To get the very latest news,
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NOTE: some of the older links
may be out of date!
Search for a topic using your browser's search function.
Go to Edit, then Find in Page. Some of them have been edited from the
original to correct typos and new information! I have been sending them since June, 1994.
10/1/01 Apps up/Free email/USPAP Q&As
New this week from Appraisal Today e-news
+ What will happen to real estate prices?
+ October Issue of Appraisal Today
+ August & September USPAP Q&As
+ Free email review
+ Apps up
>>>>>>>>>> WHAT WILL HAPPEN TO REAL ESTATE PRICES? <<<<<<<<<<
See what Peter Miller reports at
http://realtytimes.com/rtnews/rtcpages/20010926_prices.htm
AOL Users: <a
href=http://realtytimes.com/rtnews/rtcpages/20010926_prices.htm> Click
Here</a>
>>>>>>>>>> OCTOBER APPRAISAL TODAY <<<<<<<<<<
New this month in Appraisal Today
- Privacy and appraisal data
- Advice on client pressure problems
- How to use temporary help to speed up appraisal delivery
- Two good jokes - virus alert and appraisal review
- Appraisals and the Sept. 11 tragedy
- Fannie and Freddie to adopt new standard
- Standard & Poors automates new loans
If you don't already subscribe .... To get all the news, not just the
headlines and links, subscribe to my monthly "paper" and PDF Appraisal
Today newsletter for $99 per year ($149 for 2 years), call 800-839-0227 or
fax 800-839-0014 (credit card orders) or send your check (made out to RECR)
to 2015 Clement Ave., Alameda, CA. Order online or print out an order form
at http://www.appraisaltoday.com/orderfrm.htm
AOL Users: <a href=http://www.appraisaltoday.com/orderfrm.htm> Click Here</a>
To order a FREE sample issue or get more information, go to
http://www.appraisaltoday.com/sample.htm
or call 800-839-0227 or fax
800-839-0014 . AOL Users: <a
href=http://www.appraisaltoday.com/sample.htm> Click Here</a>
>>>>>>>>>> AUGUST & SEPTEMBER USPAP Q&AS <<<<<<<<<<
September
Question #1:
Does USPAP require that an address for the subject property be reported in
every summary real property appraisal report?
Question #2:
Which Standards and Standards Rules apply to developing an appraisal?
Question #3:
Which Standards and Standards Rules apply to reporting an appraisal?
August Q&As
Question #1:
The Record Keeping section of the ETHICS RULE states, in part:
The workfile must include…true copies of any written reports…
Does a true copy have to include a signature on the certification?
Question #2:
What is the difference between a client and an intended user?
Question #3:
Is it a violation of USPAP to use a recent sale of the subject property as
a comparable in the sales comparison approach to value?
For the answers, and the other 2001 Q&As go to
https://www.appraisalfoundation.org/asb-q&a.htm
and scroll down the page.
FYI, USPAP does not require an address. You probably already knew that
though ;>
AOL Users: <a href=https://www.appraisalfoundation.org/asb-q&a.htm> Click
Here</a>
>>>>>>>>>> FREE EMAIL REVIEW <<<<<<<<<<
I will be in Virginia this week but won't be checking my email as I won't
be lugging a laptop. One of the free web-based email services would work
well for traveling, for keeping spam down when posting to online chat
boards, etc. You can check your email on any computer connected to the
Internet.
Cnet has a good review of them:
The free Web is practically a thing of the past: free Internet
access, online storage space, and even photo sites have all
but vanished. Fortunately, free e-mail accounts still abound,
but not all are created equal. Find out which services make it
easiest to take advantage of one of the Web's last free
offerings.
http://one.digital.cnet.com/cgi-bin1/flo?y=eCaY0BXxy0k0vGF0AL
AOL Users: <a
href=http://one.digital.cnet.com/cgi-bin1/flo?y=eCaY0BXxy0k0vGF0AL> Click
Here</a>
>>>>>>>>>> APPS UP <<<<<<<<<<
The market composite index of mortgage loan applications—a measure of loan
purchases and refinances—for the week ending September 21 increased 20.0
percent to 640.0 on a seasonally adjusted basis from 533.3 the previous
week, according to the
Weekly Mortgage Applications Survey of the Mortgage Bankers Association of
America (MBA), which was released last Wed. On an unadjusted basis, the
application index increased 19.9 percent and was up 97.6 percent compared
to the same week a year earlier.
The MBA seasonally adjusted Purchase Index increased to 283.5 from 282.4
the previous week; the Refinance Index increased to 2713.9 from 1992.9.
Other seasonally adjusted index activity included the Conventional Index,
which increased to 851.9 from 688.4 the previous week, and the Government
Index, which increased to 286.5 from 274.4 the previous week.
Refinancing activity represented 63.1 percent of total applications,
increasing from 55.5 percent the previous week. ARM activity decreased to
10.9 percent from 11.2 percent the previous week.
The average contract interest rate for 30-year fixed rate mortgages was
6.63 percent, decreasing slightly from 6.64 the previous week, with points
decreasing slightly to 1.27 from 1.29 (including the origination fee) for
80 percent loan-to-value (LTV) ratio loans.
10/8/01 Email tips/fraud/collection tips
New this week from Appraisal Today e-news
+ Some good business email tips
+ Collection tips
+ Apps way up
+ Fraud in FL, MA .....
>>>>>>>>>> SOME GOOD BUSINESS EMAIL TIPS <<<<<<<<<<
Some good business email tips are at:
http://realtytimes.com/rtnews/rtapages/20011004_email.htm
-
AOL Users: <a
href=http://realtytimes.com/rtnews/rtapages/20011004_email.htm> Click Here</a>
Here's the first 2:
- Immediacy is guaranteed - or is it?
- Respond when its convenient, if you want to lose the client.
Well worth reading...
>>>>>>>>>> COLLECTION TIPS <<<<<<<<<<
For some good tips on how to avoid collection problems and what to do when
you get them, go to http://www.appraisaltoday.com/collecti.htm
-
"Collections - the squeaky wheel gets the grease!"
AOL Users: <a href=http://www.appraisaltoday.com/collecti.htm> Click Here</a>
Here are a few:
You cause your collection problems.
Often, you're the reason why you have collection problems. You:
1. Don't have a clearly communicated credit policy. You allow everyone to
be billed, no matter who they are.
2. Don't monitor your accounts receivable. You don't keep up on your
client's business, assuming they are still making money and paying their
bills.
3. Don't follow up on past due billings, letting them slide until they are
months past due.
>>>>>>>>>> FRAUD IN FL, MA ..... <<<<<<<<<<
The latest news on Greatstone Mortgage, plus some good links and info on
mortgage fraud at http://www.MortgageDaily.com/GreatStone100301.html
.
AOL Users: <a href=http://www.MortgageDaily.com/GreatStone100301.html>
Click Here</a>
>>>>>>>>>> APPS WAY UP <<<<<<<<<<
The market composite index of mortgage loan applications—a measure of loan
purchases and refinances—for the week ending September 28 increased 20.5
percent to 771.1 on a seasonally adjusted basis from 640.0 the previous
week, according to the Weekly Mortgage Applications Survey of the Mortgage
Bankers Association of America (MBA), which was released Oct 3. On an
unadjusted basis, the application index increased 20.6 percent and was up
128.7 percent compared to the same week a year earlier.
The MBA seasonally adjusted Purchase Index increased to 308.8 from 283.5
the previous week; the Refinance Index increased to 3459.8 from 2713.9.
Other seasonally adjusted index activity included the Conventional Index,
which increased to 1030.5 from 851.9 the previous week, and the Government
Index, which increased to 338.3 from 286.5 the previous week.
The seasonally adjusted market composite and the refinance indexes both
reached their second highest levels last week since the Weekly Applications
Survey was started in January 1990. Those indexes reached their highest
levels the week ended October 8, 1998 when the seasonally adjusted market
composite index reached 936.7 and the refinance index reached 4389.1.
"The current low interest rates have contributed to the continued refinance
boom that began early this year," said Phil Colling, Economist for the MBA.
"In addition to low interest rates, the tragic events of September 11 and
the new uncertainty in the economy caused by those events may have induced
those waiting to
refinance to go ahead and do so. That would help explain the large increase
in refinance activity the last two weeks. Increases in the other indexes
indicate continued strength in the housing market."
Refinancing activity represented 66.7 percent of total applications,
increasing from 63.1 percent the previous week. ARM activity decreased to
10.3 percent from 10.9 percent the previous week.
The average contract interest rate for 30-year fixed rate mortgages was
6.52 percent, decreasing from 6.63 the previous week, with points remaining
the same at 1.27 (including the origination fee) for 80 percent
loan-to-value (LTV) ratio loans. Last week's 30-year rate was the third
lowest since the Weekly
Applications Survey began. The two lower rates were 6.51 percent the week
ended September 25, 1998 and 6.36 percent the week ended October 2, 1998.
The average contract interest rate for 15-year fixed rate mortgages was
5.93 percent, decreasing from 6.06 the previous week, with points
decreasing to 1.22 from 1.34 (including the origination fee) for 80 percent
loan-to-value (LTV) ratio loans. Last week's 15-year rate was the lowest
ever since the Weekly
Applications Survey began. The next lowest rate was 5.95 percent the week
ended October 2, 1998.
The average contract interest rate for 1-year ARMs was 5.28 percent,
decreasing from 5.59 the previous week, with points increasing to 1.21 from
1.11 (including the origination fee) for 80 percent LTV loans.
Ann O'Rourke, MBA, SRPA, SRA
Appraiser and Publisher of Appraisal Today newsletter
2015 Clement Ave.
Alameda, CA 94501
mailto:ann@appraisaltoday.com
phone: 800-839-0227//fax: 800-839-0014
http://www.appraisaltoday.com for appraisal news, info, and a few jokes!
10/14/01 Mortgage brokers/vendors-clients/home office
New this week from Appraisal Today e-news
+ The "secret" www.appraisaltoday.com
+ Apps Up, Up, and Away
+ What do mortgage brokers say about appraisers?
+ Check out vendors and clients
+ Appraisal Buzz email archive
+ Home office use
>>>>>>>>>> THE "SECRET" WWW.APPRAISALTODAY.COM <<<<<<<<<<
For the past 3-4 days, when anyone tries to access www.appraisaltoday.com a
box requesting a username and password comes up.
No, I am not charging for the site ;> . My ISP, Verio, migrated (moved) my
web site files to another computer and some configuration didn't get done.
Hopefully, it will be corrected very soon.
You can access www.appraisaltoday.com directly using the IP address:
http://128.242.55.103/ . That is the address of the actual physical
location of my web site files.
>>>>>>>>>> APPS UP, UP, AND AWAY <<<<<<<<<<
The market composite index of mortgage loan applications—a measure of loan
purchases and refinances—for the week ending October 5 increased 11.5
percent to 860.1 on a seasonally adjusted basis from 771.1 the previous
week, according to the Weekly Mortgage Applications Survey of the Mortgage
Bankers Association of America (MBA), which was released last Wed. On an
unadjusted basis, the application index increased 11.9 percent and was up
166.3 percent compared to the same week a year earlier.
The MBA seasonally adjusted Purchase Index decreased to 271.2 from 308.8
the previous week; the Refinance Index increased to 4285.7 from 3459.8.
Other seasonally adjusted index activity included the Conventional Index,
which increased to 1178.9 from 1030.5 the previous week, and the Government
Index, which decreased to 328.2 from 338.3 the previous week.
>>> WHAT DO MORTGAGE BROKERS SAY ABOUT APPRAISERS? <<<
See what the "other side" has to say and post your own comments at the very
active Grapevine chat board at
http://www.nationalmortgagenews.com/grapevine/
Scroll down the page looking
for appraiser or appraisal or use your browsers Search or Find (under the
Edit pull down menu).
A couple of recent threads:
- Appraiser's view of the grapevine.
- Jacked appraisal fees posted by refi-man
- PLEASE ADVISE: I am waiting for a loan to fund for 3 weeks, Appraiser
won't do what has been asked of him to recert an appraisal he did in
Aprill...I smell fish. $4,400 on the line! by Broker1
"Retypes" seems to be a big topic... I had a mortgage broker say I should
"recert" an appraisal because it was my "duty" as a certified appraiser. I
tried to explain that the appraisal was originally done for a bank and I
don't do work for mortgage brokers. The property was unusual and I used
"old" comps, etc. as the bank really wants to know what it is worth and
isn't concerned with comps over 6 months old, etc. After saying she would
have to wait 4 weeks and hanging up on the broker, it came to me in a
flash... just charge $500 for the "retype." If she wants to pay, then it
would be worth my time (maybe) with the inevitable underwriter hassles.
>>>>>>>>>> APPRAISAL BUZZ EMAIL ARCHIVE <<<<<<<<<<
Go to http://www.appraisalbuzz.com
to get the archives of some very
interesting email interviews done by Joan Trice for her email newsletter,
Appraisal Buzz. She has "handed off" the newsletter to former associate and
computer nerd, Rick Bestany. Worth checking out. Topics have included Comp
searches, AVMs, and the effect of Sept 11 on the office market.
For subscribing information, click on the contact us button.
>>>>>>>>>> HOME OFFICE USE <<<<<<<<<<
After 10 years of using an office outside my home, I'm thinking about
moving back home again. Seems like there are lots of other appraisers at
home also. The latest poll at http://www.appraisersforum.com
shows 83% of
appraisers with home offices.
I moved out of my home office (actually a detached rear cottage) 10 years
ago as I had 5 employees and it was way too crowded. But now it's just
myself and my assistant.
To see the pool results you have to vote. Check out previous polls - very
interesting!!
>>>>>>>>>> CHECK OUT VENDORS AND CLIENTS <<<<<<<<<<
Have you gotten a call recently from an online appraisal directory,
soliciting you to sign up? Or, gotten email from a other vendors soliciting
business from appraisers?
How do you check out someone who calls you on the phone wanting a lender
appraisal?
A great resource for both is http://www.appraisersforum.com
. There is a
link to the deadbeat list at the top of the page. Go to appraisal
discussion to see what other appraisers say about both vendors and clients.
10/21/01 Appraisal advice/apps up 298%
New this week from Appraisal Today e-news
+ Apps up 298% from a year ago
+ Appraisal Foundation web site redesign
+ Internet articles on appraisals
+ October AI Appraiser News Online
>>>>>>>>>> APPS UP 298% FROM A YEAR AGO <<<<<<<<<<
The market composite index of mortgage loan applications—a measure of loan
purchases and refinances—for the week ending
October 12 increased 18.1 percent to 1015.4 on a seasonally adjusted basis
from 860.1 the previous week, according to the Weekly Mortgage Applications
Survey of the Mortgage Bankers Association of America (MBA), which was
released today. On an unadjusted basis, the application index increased 6.5
percent and was up 297.8 percent compared to the same week a year earlier.
The MBA seasonally adjusted Purchase Index increased to 286.9 from 271.2
the previous week; the Refinance Index increased to 5252.6 from 4285.7.
Other seasonally adjusted index activity included the Conventional Index,
which increased to 1410.6 from 1178.9 the previous week, and the Government
Index, which increased to 356.0 from 328.2 the previous week.
Refinancing activity represented 76.5 percent of total applications,
increasing from 73.8 percent the previous week. The refinance share of 76.5
percent is the highest since the Weekly Applications Survey began and broke
the record which was set the previous week. ARM activity increased to 9.6
percent from 9.1 percent the previous week.
>>> APPRAISAL FOUNDATION WEB SITE REDESIGN <<<
Check out the new, updated, Appraisal Foundation web site at
http://www.appraisalfoundation.org/
. Lots easier to find stuff and
navigate - only 2 clicks to get to USPAP. AOL Users: <a
href=http://www.appraisalfoundation.org> Click Here</a>
>>>>>>>>>> INTERNET ARTICLES ON APPRAISALS <<<<<<<<<<
How To Get The Best Appraisal - some good advice for homeowners.
http://realtytimes.com/rtnews/rtcpages/20011012_bestvalue.htm
AOL Users: <a
href=http://realtytimes.com/rtnews/rtcpages/20011012_bestvalue.htm> Click
Here</a>
Getting Extra Value From Appraisals - a brief article on how to read an
appraisal for homeowners - see if you agree.
http://realtytimes.com/rtnews/rtcpages/20011012_appraise.htm
AOL Users: <a
href=http://realtytimes.com/rtnews/rtcpages/20011012_appraise.htm X> Click
Here</a>
>>>>>>>>>> OCTOBER AI APPRAISER NEWS ONLINE <<<<<<<<<<
The October Appraiser News Online deals with a variety of issues
including the effects of September 11, California's rejection of a proposed
opt-in privacy policy, the USDA's broadening of its 1974 Privacy Act, and
mortgage broker regs in North Carolina.
http://www.appraisalinstitute.org/anol/2001-10/industry_news.asp
AOL Users: <a
href=http://www.appraisalinstitute.org/anol/2001-10/industry_news.asp>
Click Here</a>
=========================
If you don't already subscribe .... To get all the news, not just the
headlines and links, subscribe to my monthly "paper" and PDF Appraisal
Today newsletter for $99 per year ($149 for 2 years), call 800-839-0227 or
fax 800-839-0014 (credit card orders) or send your check (made out to RECR)
to 2015 Clement Ave., Alameda, CA. Order online or print out an order form
at http://www.appraisaltoday.com/orderfrm.htm
AOL Users: <a href=http://www.appraisaltoday.com/orderfrm.htm> Click Here</a>
To order a FREE sample issue or get more information, go to
http://www.appraisaltoday.com/sample.htm
or call 800-839-0227 or fax
800-839-0014 . AOL Users: <a
href=http://www.appraisaltoday.com/sample.htm> Click Here</a>
10/29/01 One org-One designation?/Faking XP
New this week from Appraisal Today e-news
+ XP? Cheap and faking it
+ One Big Appraisal Association with One Designation??
+ Appraisal Foundation Biz Plan
+ Apps down
++++++++++++++ Thanks to our Sponsor ++++++++++++
Appraisers are charged a low monthly subscription fees (beginning at only $6.95 per month) to be listed on appraisalorder.com. They receive their own URL (webpage) with a built in order form. The service is fast, free, and very easy to use for those ordering appraisals.
Here's what a lender says:
"We switched from our old print, copy, fax method of sending appraisals in favor of free appraisal ordering at AppraisalOrder.Com" stated Ms. Jane Phillips, Vice President of
Jefferson State Bank.
"The old method of ordering appraisals was just too slow and cumbersome. Now when we need an appraisal, it is just a matter of a few clicks and the order is on its way. As a bonus, handwritten and misread information no longer finds its way into the reports. Also, we like getting the automatic confirmation that the order was delivered."
For more information, go to http://www.appraisalorder.com
or call (210) 930-6306.
AOL Users: <a href=http://www.appraisalorder.com> Click Here</a>
+++++++++++++++++++++++++++++++++++++++++
NOTE ON LONG LINKS - you may have to cut and paste them into your browser.
>>>>>>>>>> XP? CHEAP AND FAKING IT <<<<<<<<<<
Three good XP links from PC Magazine
A list of the few features and issues that really, really matter.
http://cgi.zdnet.com/slink?/adeskb/adt1025/2820081:749925
AOL Users: <a href=http://cgi.zdnet.com/slink?/adeskb/adt1025/2820081:749925> Click Here</a>
Which version of Windows XP is right for you?
And where can you find it for the lowest price?
http://cgi.zdnet.com/slink?/adeskb/adt1025/2820001:749925
AOL Users: <a href=http://cgi.zdnet.com/slink?/adeskb/adt1025/2820001:749925> Click Here</a>
Don't want to upgrade to windows XP? Fake it!
Three downloads that will make your PC indistinguishable
from one running XP.
http://cgi.zdnet.com/slink?/adeskb/adt1025/2819980:749925
AOL Users: <a href=http://cgi.zdnet.com/slink?/adeskb/adt1025/2819980:749925> Click Here</a>
FYI, if you upgrade to XP or buy a new computer with it, be sure all your current programs will run on XP.
>>> ONE BIG APPRAISAL ASSOCIATION WITH ONE DESIGNATION?? <<<
Meeting Aug. 24–26 in Denver, Colo., a group of appraisal experts forming the SWOT (Strengths, Weaknesses, Opportunities and Threats) task force, examined the future of the appraisal profession presented a report proposing that a unified umbrella organization be created for all appraisers.
The task force members also recommended that a common professional designation be created that would unite the appraisal profession [similar to the certified public accountant (CPA) designation] while still providing for specific discipline criteria. Related professions, such as property management and consulting, could be included within the organizational structure.
"Official" release of information on this meeting was delayed until last week because of the events of September 11 and the NIMDA virus, per their press release.
Check out the SWOT web site at http://www.valuer-umbrella.org
AOL Users: <a href=http://www.valuer-umbrella.org> Click Here</a>
>>>>>>>>>> APPRAISAL FOUNDATION BIZ PLAN <<<<<<<<<<
Ever wonder what the Appraisal Foundation does with the money you give them? FYI, $25 per year of your license renewal fee goes to the Appraisal Subcommittee, who provides a major source of funding for the Appraisal Foundation.
Check out "A Business Plan For The Appraisal Foundation
2002-2007, Revised Discussion Draft," dated November 3, 2001
http://www.appraisalfoundation.org/html/PDF-Images/Businessplan.pdf
AOL Users: <a href=http://www.appraisalfoundation.org/html/PDF-Images/Businessplan.pdf> Click Here</a>
>>>>>>>>>> APPS DOWN <<<<<<<<<<
The market composite index of mortgage loan applications—a measure of loan purchases and refinances—for the week ending
October 19 decreased 11.6 percent to 897.3 on a seasonally adjusted basis from 1015.4 the previous week, according to the Weekly Mortgage Applications Survey of the Mortgage Bankers Association of America (MBA), which was released
last week. On an unadjusted basis, the application index decreased 1.9 percent but as up 167.1 percent compared to the same week a year earlier.
The MBA seasonally adjusted Purchase Index decreased to 264.1 from 286.9 the previous week; the Refinance Index decreased to 4580.3 from 5252.6. Other seasonally adjusted index activity included the Conventional Index, which decreased to 1245.1 from 1410.6 the previous week, and the Government Index, which decreased to 316.9 from 356.0 the previous week.
Refinancing activity represented 75.5 percent of total applications, decreasing from 76.5 percent the previous week. ARM activity decreased to 8.4 percent from 9.6 percent the previous week.
The average contract interest rate for 30-year fixed rate mortgages was 6.59 percent, decreasing from 6.61 the previous week, with points increasing to 1.21 from 1.18 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed rate mortgages was 6.01 percent, decreasing slightly from 6.02 the previous week, with points increasing slightly to 1.25 from 1.24 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
=========================
If you don't already subscribe .... To get all the news, not just the headlines and links, subscribe to my monthly "paper" and PDF Appraisal Today newsletter for $99 per year ($149 for 2 years), call 800-839-0227 or fax 800-839-0014 (credit card orders) or send your check (made out to RECR) to 2015 Clement Ave., Alameda, CA. Order online or print out an order form
at http://www.appraisaltoday.com/orderfrm.htm
AOL Users: <a href=http://www.appraisaltoday.com/orderfrm.htm> Click Here</a>
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