The residential
real estate market/appraisal industry is
often at the mercy of pressure from the
lending community to provide improper and
unlawful appraisals and valuations. The
Center for Responsible Appraisals and Valuations
was created to provide the appraisal industry
and American homeowner's peace of mind about
the home valuation process. read
more
August 3, 2006-CENTER FOR RESPONSIBLE APPRAISALS & VALUATIONS RELEASES WHITE PAPERread more
I began appraising with the
Marin County, California Assessor’s Office in 1984 and started my
own Appraisal Company (North Bay Real Estate Appraisals) in 1986 while
associating myself with a very well-respected appraiser, Sue Ellen Adams,
RM. She guided me through the process of appraising for Lenders,
Banks, Lawyers and many other clients. I had a new 35mm Pentax
Camera, a clip board, cloth tape measure and pen as standard property....
read
more
Signatories
of The Center for Responsible Appraisals
and Valuations address issues that
affect the real estate appraisal industry.
To submit an article, please email
admin@cravonline.com
Press & Policy
CRAV Issues A Challenge To Industry-by Matt Smith of Valuation Review 8/28/06
The topic is one of the most contentious issues dominating the appraisal industry today. Pressure to overstate a property’s value or condition was reported by 55 percent of appraisers who participated in the 2003 “National Appraisal Survey” from October Research. The pressure was most likely to come from a mortgage broker or loan officer.....read more
CRAV Challenges Lenders, Brokers In White PaperThe Center for Responsible Appraisals and Valuations is urging participants in mortgage process to promote accurate appraisals in residential markets. By October Research Corporation August 22,2006 The Center for Responsible Appraisal and Valuations (CRAV), founded in 2005 by the National Community Reinvestment Coalition, recently released a compliance white paper titled Residential Mortgage Originators, Securitizers, AMCs and the Mortgage Broker....read more
New Headache for Homeowners: Inflated Appraisals Rosy Valuations, Common in Boom, Now Haunt Sellers; 'It's Pay-the-Piper Time' -by JAMES R. HAGERTY and RUTH SIMON of The Wall Street Journal July 22, 2006
The Wall Street Journal, July 22, 2006- As the housing market cools, Americans are confronting a problem that was easy to ignore during the boom: inflated appraisals of home values. Critics inside and outside the appraisal business have long warned that many appraisals are unrealistically high. That's partly because generous appraisals help loan officers and mortgage brokers, who often choose the appraiser, complete more deals. If a home is appraised at less than the buyer offered, the deal is likely to fall through....read more
Mortgage fraud hits close to home in Nevada - By Jennifer Shubinski of In Business Las Vegas June 9-15, 2206
It may come as no surprise to those in the real estate industry that Nevada is near the top of the heap when it comes to mortgage fraud. According to the Mortgage Asset Research Institute (MARI), Nevada ranks seventh when it comes to alleged mortgage fraud and material misrepresentation reported by major mortgage lenders, agencies and insurers to a MARI database. ...read more
