Category Archives: PEMCO News

Stop Believing These 6 Home Appraisal Myths

Photo credit: TaxRebate.org.uk     The home appraisal is the one real estate-related process that can provoke a variety of emotions, ranging from positive to negative. While many are aware of what an appraisal is and its purpose, that awareness doesn’t always translate to a clear understanding of what is factored into the appraisal process. At […]

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Replacing Dodd-Frank

Photo credit: CafeCredit.com     Financial CHOICE Act of 2017 to tweak Consumer Financial Protection Bureau The Financial CHOICE Act of 2017, the alternative to the Dodd-Frank Wall Street Reform and Consumer Protection Act, is now one step closer to becoming a reality. There’s been much talk about repealing the Dodd-Frank and “gutting the Consumer […]

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9 Things You Should Know About Appraiser Independence

Photo credit: lendingmemo.com       AMCs offer lenders an easy way to stay compliant while conducting arm’s length valuation transactions It requires substantiating and documenting communication. Compliance with appraisal independence must be substantiated by careful documentation, which includes full records of all communications during the appraisal process. It prevents those who might financially benefit from […]

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PEMCO Limited Finalist for Hawaii’s BBB Torch Awards 2017

  FOR IMMEDIATE RELEASE PEMCO LIMITED FINALIST FOR HAWAII’S BBB TORCH AWARDS 2017 BBB Torch Awards Honor Ethical Business Practices MARCH 9, 2017 – PEMCO Limited is a finalist at the Hawaii’s Better Business Bureau (BBB) Torch Award. An award ceremony will be held Friday March 31 at the Sheraton Waikiki. These Awards focus on […]

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Making the Appraisal Process More Transparent

Photo credit: Everyone Shipwreck Starco       Communication with stakeholders key Appraisers can, and usually do, share their information and methods that were used in their valuation process. In the event the appraisal is not what was hoped for, being prepared to disclose this information quickly is essential for the sake of transparency. How can […]

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Getting an Accurate Appraisal When There Are Few Comparables

Photo credit: Sheila Sund     You have an appraisal assignment in a neighborhood where few sales have recently occurred, or the property is in a very remote area. How do you arrive at a solid opinion of value if you’re working with little comparable data? Should you try a little-used approach to the appraisal? Should […]

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Appraisal and Housing Leaders: Appraisal System Needs Overhaul

Photo credit: Mark Moz     System’s “regulatory regime surrounding appraisals” … “stuck in 1989” The nation’s appraisal system is in need of an overhaul, according to several key industry and government leaders in a recent hearing in the Housing and Insurance Subcommittee of the House Financial Services Committee. The results of a complex and […]

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Did TRID Increase Appraisal Turn Times and Fees?

Photo credit: FutUndBeidl     The CFPB’s TILA-RESPA Integrated Disclosure (TRID) Rule has been in effect since last October, many in the origination process feared the rule’s additional compliance would result in costlier and slower originations. Even lenders are not consistent on how TRID has affected them, as it depends on several factors. The rule’s effect […]

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Why Valuations Profession Must Embrace the “Right” Technology

Photo credit: Symo0     Big data and cloud computing’s big push There are changes in store for the appraisal profession, and they’re coming from all profession stakeholders. With regulators holding banks to higher standards, banks are holding appraisers to higher requirements. Appraisal profession-centric technology platforms see more opportunities for innovation that will help bring about […]

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Major Appraiser Shortage is Causing Home Sales Delays

Photo credit:Paul Sullivan       Amid regulations and licensing requirements, profession not seeing significant new recruits With demand for housing rapidly increasing, a key part of the home purchase process is disappearing. Appraisers, the men and women who provide home valuation opinions and whom mortgage lenders are dependent upon, are declining in numbers and […]

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