Appraisal News

October Research Corp. announces staff expansion The parent company of Valuation Review has announced the hiring of a new editorial director. Find out more here.

a la mode releases TOTAL 2010 The appraisal technology provider a la mode has released the sixth generation of its appraisal forms software, TOTAL 2010. Find out the new features and its price point here.

Reverse mortgage fraud ring used inflated appraisals Three members of a mortgage fraud ring that used inflated appraisals for reverse mortgages have been charged by a federal grand jury in Georgia for conspiracy to commit financial institution fraud. Read on to find out what role the falsified appraisals had to play in the scheme.

Fed may house proposed Consumer Financial Protection Agency A bill that would overhaul the nation’s entire financial regulatory framework is another step closer to being considered in the U.S. Senate. Held up by disagreements over the inclusion of a new Consumer Financial Protection Agency, Sen. Christopher Dodd, D-Conn., is working on a compromise to get the bill heard in committee and eventually passed. Read on for the latest.

New Mexico governor signs AMC bill into law The governor of New Mexico has signed SB 138, the legislation that regulates appraisal management companies, into law. Read on for the requirements for companies looking to operate in that state.

Mortgage apps rebound with rates back below 5 percent The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending Feb. 26, showing the Market Composite Index, a measure of mortgage loan application volume, increased 14.6 percent on a seasonally adjusted basis from one week earlier.

Former bank exec pleads guilty to hiding appraisals from examiners A former chief lending officer from a Northwestern bank has pleaded guilty to hiding a number of appraisals from state and bank examiners in an effort to conceal collateral risks. Read on for the full details.

StreetLinks gets new software provider client The appraisal management company StreetLinks has announced it is partnering with a mortgage software provider to offer a full suite of valuation products to the provider’s customers. Find out which company has partnered with StreetLinks here.

Appraiser sues celebrity for alleged assault An appraiser who was taking photos of a comparable property for a report was allegedly attacked and injured by a celebrity and her husband after being mistaken for a member of the paparazzi. The appraiser is now suing the former singer for damages. Find out more here.

Another lender falls afoul of FHA The FHA immediately and permanently withdrew approval of a N.Y.-based lender, while Ginnie Mae defaulted and terminated it as an issuer of its mortgage backed securities as a result of alleged “numerous and egregious violations” of FHA requirements. For details on the lender involved and the penalties handed down, go here.