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HUD Watching Appraisal Firms.(Department of Housing and Urban Development)(Brief Article)
The Department of Housing and Urban Development has announced that its new "Appraiser Watch" monitoring system is fully operational.
Under Appraiser Watch, the Federal Housing Administration will be able to spot bad appraisers who are regularly connected to a high number of loan transactions that end up in default.
Those appraisers will be subject to special reviews and possibly removed from the agency's list of FHA-approved appraisers.
"FHA will be able to identify appraisers who either knowingly or unintentionally place homeowners at risk for losing their homes to foreclosures because of inflated valuations," according to HUD.
The new monitoring system is modeled after Credit Watch, which allows HUD to identify and automatically suspend FHA single-family lenders with abnormally high early default rates.
But the FHA decided it would not automatically remove appraisers.
"FHA has determined that Appraiser Watch should be a tool that ...
- HUD's 'Appraiser Watch' Is Up and Running.(Department of Housing and Urban...
- Magazine article from: Origination News December 1, 2003 700+ words
The Department of Housing and Urban Development's new"Appraiser Watch" monitoring system is fully operational. Under Appraiser Watch, the Federal Housing Administration will be able to spot bad appraisers who are regularly connected to a...
- Appraiser Watch official; identifies, doesn't remove.(Industry and Institute...
- Magazine article from: Valuation Insights & Perspectives September 22, 2003 700+ words
...Department of Housing and Urban Development officially instituted its Appraiser Watch in November, with...According to HUD, Appraiser Watch will allow the FHA...Included among the Appraiser Watch risk factors are an...
- Appraiser Watch Is Up and Running.
- Magazine article from: National Mortgage News November 10, 2003 700+ words
...Department of Housing and Urban Development has announced that its new "Appraiser Watch" monitoring system is fully operational. Under Appraiser Watch, the Federal Housing...has determined that Appraiser Watch should be a tool that...
- Appraisers, Appraisal Societies Call on HUD to Abandon Appraiser Watch...
- Press release article from: PR Newswire September 24, 2002 700+ words
...Department of Housing and Urban Development yesterday to abandon the FHA Appraiser Watch Initiative as presently...Administration. "The Appraiser Watch Initiative is the...However, the Appraiser Watch Initiative has caused...
- Appraisal Institute, NAR, ASA call on HUD to abandon Appraiser Watch...
- Magazine article from: Valuation Insights & Perspectives September 22, 2002 700+ words
...Department of Housing and Urban Development urging HUD to abandon its proposed Appraiser Watch Initiative and rather...he sees in the FHA Appraiser Watch Initiative at the...implemented with the Appraiser Watch program," said...
- HUD/FHA Implements 'Appraiser Watch' Monitoring System to Curb Predatory...
- Press release article from: PR Newswire October 29, 2003 700+ words
...Department of Housing and Urban Development's on-going efforts...a boost last week when Appraiser Watch, its risk-based appraiser...Secretary Mel Martinez said. "Appraiser Watch is another tool that we...they can afford." With Appraiser Watch, HUD's Federal Housing...
- HUD's "Appraiser Watch" nearly finalized; among topics at October mortgage...
- Magazine article from: Valuation Insights & Perspectives June 22, 2002 700+ words
...notice of proposed rulemaking on its Appraiser Watch Initiative. The standards, once...and, of particular importance, "Appraiser Watch: Implementation Plan and Impacts...possible changes in substance of the Appraiser Watch proposal after the comment period...
- HUD to propose "Appraiser Watch," other fraud reduction programs. (Industry and...
- Magazine article from: Valuation Insights & Perspectives January 1, 2002 700+ words
...that HUD was looking to create an 'Appraiser Watch" program modeled after HUD's current...HUD is in the midst of proposing the Appraiser Watch program. Martinez's testimony can...Possibly in conjunction with the Appraiser Watch program, Martinez has also proposed...
Source: HighBeam Research, HUD Watching Appraisal Firms.(Department of Housing and Urban...