Richard Glesser's (richardglesser) Blog

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Real Estate Appraiser - North Country Appraisal Services
RECENT BLOG POSTS
I've long been vocally opposed to the ridiculous CEO salaries to individuals who have done nothing, or worse, brought losses to major corporations and still receive millions in salary and bonuses. As long as stockholders go along with it, it remains out of our control. However, today's news that ...
08/03/2012
A story which first appeared in the New York Times on April 11th, "Lenders Again Dealing Credit to Risky Clients", was posted on MSN on the 12th as "Big Banks woo subprime borrowers again".  Summarizing, Capital One and GM Financial are issuing credit cards (they never really stopped).  Meanwhile...
04/12/2012
  Thursday, March 29th, the Michigan House passed House Bills 4975 and 5271 to provide regulatory structure to Appraisal Management Companies (AMC's).  The bills were introduced by Realtor member and State Rep Margaret O'Brien, a Republican from Portage, Michigan.   In compliance to Dodd-Frank, A...
03/31/2012
Since 2009, there have been numerous programs rolled out with a great amount of federal money to remedy the housing crisis.  All have fallen far short of projected impacts for 1 simple reason.  Lenders are not obligated to participate.  So do, but even those make half-hearted attempts toward part...
03/06/2012
A colleague sent out a chart which shows the decline in appraisers in the state of Michigan from 6/15/2010 to 9/25/2011.  The trends are dubious for the future of the industry.  Even worse, are some of the interpretations of the data.  Excluding limited appraisers who are not permitted to do mort...
09/27/2011
Since the vast number of lenders required UAD on September 1, we've had about 1 week of actual use of the new system.  The question is, how's it going?  Since everything is now uniform, there should be no more requests for additional information from underwriters and lenders.  That would be the t...
09/03/2011
This morning, I was at my brother's house when the appraiser came for his refinance appraisal.  I realize I'm "old school", but I began appraising over 25 years ago with the understanding that, as the appraiser, while not directly associted with the lender, I was an extension of the borrowers per...
08/24/2011
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HUD, alias FHA, issued a notice today that they will not be requiring UAD until January 1, 2012, thus setting back 4 months the requirement of Frannie Mae and Freddie Mac which does still take effect on September 1, 2011.  One hope voiced by those opposed to UAD is that the other two agencies wil...
08/24/2011
After September 1, all appraisals sold to Fannie Mae and other secondary lenders will need to be completed with the Uniform Appraisal Dataset.  Once again, the lending institutions have taken over the appraisal process.  For each blank on the appraisal 1004 report, a specific list of descriptions...
07/17/2011
Cutting entitlements should start with Congress.  They are elected to serve, not to become an elitist group with lifelong pensions, medical care, and benefits.  Time to roll the clock back to when they served and then went back into their old jobs they held before elected with no "cushion" on the...
07/09/2011
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