Category — Compliance Corner
Changes to the Real Property Appraiser Qualification Criteria
On February 1st, 2018 the AQB adopted changes to the appraiser qualification criteria effective May 1st, 2018. Please see the federal requirements to become a certified appraiser by clicking the link below: The Appraisal Foundation encourages all to check with their individual state to see what else may be required.... read more
February 23, 2018 No Comments
Maryland Smoke Detector Law and Updated CoesterVMS Scope of Work
Maryland’s Smoke Alarm Law requires the replacement of all smoke alarms when they are 10 years old. This applies to both hard-wired and battery-operated smoke alarms. Maryland’s new Smoke Alarm Law requires the replacement of smoke alarms when they are ten years old (ten years from the date of manufacture). After reviewing the requirements, battery operated smoke alarms must be replaced with units that feature sealed in ten year long life batteries with a silence or hush feature, OR ... read more
January 10, 2018 No Comments
Texas Loans
We've received inquiries with regard to disclosure in compliance with recent legislation for TX 50a(6). We do not have a standard, flat AMC fee. Our system calculates C & R fees based on each property. Contractual obligations and business decisions determine whether a fee increase is warranted from the base (if the fee has not been quoted). Thus, the AMC fee is variable. The average AMC fee is between $115-125 on full inspection orders. We do have standard disclosures that we make on the ... read more
December 29, 2017 No Comments
UPDATE: Appraisal Standards Board Q&A
November, 2017 The Appraisal Standards Board has issued new Q&As for November 2017 on the following topics: Payment of a Portal Fee Workfiles Affected by a Natural Disaster Appraising After a Natural Disaster Maintaining Records for a Deceased Appraiser Please visit the link below to view the Standards and Qualifications Q&A page: ... read more
December 7, 2017 1 Comment
Managing Expectations – By Toni Bright, Chief Compliance Officer
We work in an industry that is filled with things that can (and do) go wrong. The home buying/refinancing process is filled with emotion, especially when commission-based individuals are assisting the consumer. I found, during my years of selling real estate, that managing expectations at the beginning was the best way to assist my clients. Letting them know that problems will (most likely) arise, and giving them a word picture often helped. I likened the experience of home buying/selling to t... read more
February 3, 2017 No Comments
What's New in Mortagages
copyright © 2019 housing rack