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Is there a NEW and EXCITING trend emerging in the residential appraisal world?

Just now, another Appraiser informed me that they fired a client today.  Hmmmm. That makes five AMC's getting fired in 10 days that I know of.  Could there be more on the horizon?
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2010 has been a dream year for appraisers. Sure, interest rates have hit historic lows and refinance appraisal orders have kept appraisers very busy through the summer, but consider this short list of 2010 accomplishments:

  •  HVCC gone
  • Appraiser Independence legislation signed into law
  • Government mandated “Customary and Reasonable Fees” to be paid to appraisers in the near future
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Every year we take a look at the number of outstanding appraisers licenses in Massachusetts. The numbers as of yesterday show a dramatic decline in the total number of licenses in the state when compared to three years ago. Here are the numbers by category as of February 2, 2010:

Certified General -- 655
Certified Residential -- 1230
Licensed -- 516
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In Part I (see below) I wrote about the Consumer Protection Act of 2009 and its implications to the appraisal industry in its current form.  This bill has not passed the Senate, but it supported by President Obama.  

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The Consumer Protection Act is a bill which passed the U.S. House on December 11, 2009 and has been introduced to the Senate for consideration. This 1705-page bill is supported by President Obama and is a response to the recent financial crises.  It seeks to address a myriad of concerns – from predatory lending to unregulated derivatives. This bill is expected to be signed into law in some form. [more]


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The housing bust has exerted tremendous stress upon the lending community.  According to the FDIC, 140 banks closed in 2009 and in 2010, 26 were closed as of March 7.   FDIC chairwoman Sheila Bair has stated that she expects the 2010 number to exceed that of 2009.

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