FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W95890711> ?p ?o ?g. }

• W95890711 startingPage "64" @default.
• W95890711 abstract "Real estate appraisers nationwide complain that they are under increasingly heavy-handed pressure from brokers and lenders to help get mortgage applications approved. They say they are being forced to inflate property valuations in order to hit the values needed to finance the prices on sales contracts. And, should they decline to do so, they claim their invoices go unpaid. And then they are blackballed from further assignments. This problem goes almost unnoticed when the economy is strong and home values rising. it can become more obvious when times turn bad, and homeowners who have had their homes improperly appraised find that values of homes are lower than the appraised value. No one has measured the extent of the says Peter Barash, of Peter Barash Associates, which represents the American Society of Appraisers in Washington, D.C. But we think, for good reason, that the problem is serious and ongoing. appraisers' problem, here, could be problem for banks as well, long term. First, the industry doesn't benefit from inflation, especially when mortgages are so liable to change hands in the modern mortgage markets. Second, calls for relief from the problem, if not addressed by the industry could take what is now manageable compliance issue and turn it into whole new compliance challenge just as the industry is getting used to several new ones--such as new privacy rules. In the absence of definite action, Congress could step in, causing new headaches, warns John Rasmus, ABA senior federal administrative counsel and staff expert on appraisals. And bankers needn't wait for Congress. Already, regulators are training examiners to watch for faulty appraisals. The test is whether an appraisal contains information that can support its conclusions, says Tom Watson, national bank examiner in the OCC's credit risk division. good appraisal will contain clear and well-documented analysis that supports the feasibility of the property. It won't take leap of faith for us to agree with the information. Continuing, Watson says that a bad appraisal is one that relies on some very heavy assumptions--one that borders on fiction. A blast from the past Unreliable appraisals were part and parcel of the devastating S&L crisis and could add significantly to bank losses in another poor economy, says Barash. He was house banking subcommittee staffer years ago when it investigated the reasons for the thrift debacle. We held some two dozen hearings across the country and learned that faulty and fraudulent appraisals were major contributor to the huge percentage of unsound real estate loans, Barash says. Those hearings led to congressional passage of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), which, among its many requirements, called on the states to license appraisers and put some legal weight behind the appraisal profession's Uniform Standards of Professional Appraisal Practice (USPAP). Regulatory scrutiny of the appraisal process was dramatically heightened. includes broad ethics requirements that an appraiser can use to support his resistance to pressure tactics. Recently, in response to complaints that appraisers weren't following USPAP, the quasi-public Appraisal Standards Board proposed expanding appraisal standards to provide even more ethical ballast to the professional appraisal practice. appraisers say this isn't enough when lenders and brokers can still threaten their livelihoods when they stand firm on ethics. USPAP requires appraisers to determine value objectively and independently, says Barash. But those provisions only bind the appraiser and totally ignore the source of pressure. New methods change landscape problem is exacerbated by key shifts in the mortgage-lending world that took place after FIRREA and its implementing rules went into place. …" @default.
• W95890711 created "2016-06-24" @default.
• W95890711 creator A5016529639 @default.
• W95890711 date "2001-07-01" @default.
• W95890711 modified "2023-09-24" @default.
• W95890711 title "When Appraisers Cave in, Better Get a Hard Hat" @default.
• W95890711 hasPublicationYear "2001" @default.
• W95890711 type Work @default.
• W95890711 sameAs 95890711 @default.
• W95890711 citedByCount "0" @default.
• W95890711 crossrefType "journal-article" @default.
• W95890711 hasAuthorship W95890711A5016529639 @default.
• W95890711 hasConcept C10138342 @default.
• W95890711 hasConcept C119857082 @default.
• W95890711 hasConcept C121332964 @default.
• W95890711 hasConcept C138885662 @default.
• W95890711 hasConcept C144133560 @default.
• W95890711 hasConcept C162118730 @default.
• W95890711 hasConcept C162324750 @default.
• W95890711 hasConcept C17744445 @default.
• W95890711 hasConcept C182306322 @default.
• W95890711 hasConcept C199539241 @default.
• W95890711 hasConcept C200941418 @default.
• W95890711 hasConcept C27206212 @default.
• W95890711 hasConcept C2776291640 @default.
• W95890711 hasConcept C2993739289 @default.
• W95890711 hasConcept C33332235 @default.
• W95890711 hasConcept C41008148 @default.
• W95890711 hasConcept C61783943 @default.
• W95890711 hasConcept C82279013 @default.
• W95890711 hasConceptScore W95890711C10138342 @default.
• W95890711 hasConceptScore W95890711C119857082 @default.
• W95890711 hasConceptScore W95890711C121332964 @default.
• W95890711 hasConceptScore W95890711C138885662 @default.
• W95890711 hasConceptScore W95890711C144133560 @default.
• W95890711 hasConceptScore W95890711C162118730 @default.
• W95890711 hasConceptScore W95890711C162324750 @default.
• W95890711 hasConceptScore W95890711C17744445 @default.
• W95890711 hasConceptScore W95890711C182306322 @default.
• W95890711 hasConceptScore W95890711C199539241 @default.
• W95890711 hasConceptScore W95890711C200941418 @default.
• W95890711 hasConceptScore W95890711C27206212 @default.
• W95890711 hasConceptScore W95890711C2776291640 @default.
• W95890711 hasConceptScore W95890711C2993739289 @default.
• W95890711 hasConceptScore W95890711C33332235 @default.
• W95890711 hasConceptScore W95890711C41008148 @default.
• W95890711 hasConceptScore W95890711C61783943 @default.
• W95890711 hasConceptScore W95890711C82279013 @default.
• W95890711 hasIssue "7" @default.
• W95890711 hasLocation W958907111 @default.
• W95890711 hasOpenAccess W95890711 @default.
• W95890711 hasPrimaryLocation W958907111 @default.
• W95890711 hasRelatedWork W1417972698 @default.
• W95890711 hasRelatedWork W1536035399 @default.
• W95890711 hasRelatedWork W1983270912 @default.
• W95890711 hasRelatedWork W225146685 @default.
• W95890711 hasRelatedWork W227487799 @default.
• W95890711 hasRelatedWork W2484980145 @default.
• W95890711 hasRelatedWork W250625852 @default.
• W95890711 hasRelatedWork W2581970086 @default.
• W95890711 hasRelatedWork W2606666733 @default.
• W95890711 hasRelatedWork W2992232218 @default.
• W95890711 hasRelatedWork W305967498 @default.
• W95890711 hasRelatedWork W307367934 @default.
• W95890711 hasRelatedWork W3125466191 @default.
• W95890711 hasRelatedWork W321700937 @default.
• W95890711 hasRelatedWork W341923594 @default.
• W95890711 hasRelatedWork W346983015 @default.
• W95890711 hasRelatedWork W381741491 @default.
• W95890711 hasRelatedWork W878470429 @default.
• W95890711 hasRelatedWork W2612676805 @default.
• W95890711 hasRelatedWork W66005371 @default.
• W95890711 hasVolume "93" @default.
• W95890711 isParatext "false" @default.
• W95890711 isRetracted "false" @default.
• W95890711 magId "95890711" @default.
• W95890711 workType "article" @default.