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Benefits of Joining NAR for Appraisers

Learn about the benefits to which appraisers can have access when they join the National Association of REALTORS®.

March/April 2012 Market Pulse

Existing-home sales improved in January from the previous month by 4.3 percent, pointing to improved sales in 2012 if the trend holds. NAR’s forward-looking pending home sales index, with a 2 percent gain in January, also points to sales growth. The latest pending sales level, at 97.0, is at its highest in the last five years, not counting the spikes caused by the home buyer tax credit in 2009 and 2010.

Notes From Readers: Ease Investor Loan Restrictions

Regarding the article “Fed Advocates REO Rental Program” (Daily Real Estate News, Jan. 5, 2012), the Fed needs to ease the restrictions for investor loans to investors that have good credit and maintain more than four mortgages in good standing. We have lots of potential buyers in our marketplace, but because they have four or more loans, they are prevented from purchasing. It’s a ridiculous restriction and inhibits small business. Loans to qualified investors were not the mortgage problem.

2011-12 Cost vs. Value: Big-Bang Remodeling Projects

Find out which remodeling projects will provide the biggest bang for your buck this year, according to Remodeling magazine.

Freddie Mac Single-Family Guide

Below is a list of the main sections in the Freddie Mac Single-Family Seller/Servicer Guide that address appraisal requirements. We have included a brief description under each section that highlights the relevant information you will find in that area. Please note this list does not encompass every section that relate to appraisals in the guide and should only serve as a reference point.

Freddie Mac Single-Family Seller/Servicer Guide, Volume 1

Chapter 2.6: Race or Racial Composition of a... Read More

Seller and Servicer Guides

Fannie Mae and Freddie Mac, the government sponsored enterprises (GSE), together provide the appraisal requirements lenders and appraisers must adhere to for conventional mortgages that will be purchased on the secondary mortgage market. NAR has compiled this list as a guide to help navigate through the Seller/Servicer Guides and relevant updates as provided by the GSEs. Please note, this list may not be comprehensive as Fannie Mae and Freddie Mac update their guidelines frequently.

Fannie Mae Servicing Guide
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Freddie Mac Single Family Service Guide Bulletins

Periodically, Freddie Mac publishes updates to the Single-Family Seller/Servicer Guide in the form of Bulletins and Industry Letters. Below is a list of some of the pertinent updates Freddie Mac has made to the guide with respect to appraisal requirements. Please note this list does not encompass every bulletin or industry letter on appraisal requirements that Freddie Mac has released and should only serve as a reference point.

Bulletin 2011-25 (December 16, 2011)

Subjects include Property Eligibility and... Read More

Fannie Mae Servicing Guide

Below is a list of the main sections in the Fannie Mae Servicing Guide that address appraisal requirements. We have included a brief description under each section that highlights the relevant information you will find in that area. Please note this list does not encompass every section that relate to appraisals in the guide and should only serve as a reference point.

Part II, Chapter 1, 102: Conventional Mortgage Insurance

Disclosure of fees borrower may pay including appraisal and broker price... Read More

Fannie Mae Selling Guide

Below is a list of the main sections in the Fannie Mae Selling Guide that address appraisal requirements. We have included a brief description under each section that highlights the relevant information you will find in that area. Please note this list does not encompass every section that relate to appraisals in the guide and should only serve as a reference point.

Part B, Origination through Closing

SUBPART B4, UNDERWRITING PROPERTY

Chapter B4-1, Appraisal Guidelines

Responsible Valuation Policy

Purpose of Valuation Policy

This document serves as the National Association of REALTORS® statement of federal policy on valuing real property. It serves as a guide for members and staff in advocacy efforts for federal legislation and regulatory policy. This statement of policy, aside from the National Association of REALTORS® Code of Ethics, is not in any way an attempt to impose new or additional standards of practice or behavior on members of the National Association of REALTORS®.

Why do REALTORS® Support Independent Valuations of Real Property?... Read More

Appraisers: Don't Blame Us

“Don’t shoot the messenger,” is the message the Appraisal Institute has for those in the real estate industry. Appraisers have been taking heat the last few months over low home values, with critics arguing that values aren’t matching a home listing or contract’s price and valuations are unfairly weighing distressed properties into the equation.

Benefits for Members

Legislative and Legal Initiatives

Legislative and Regulatory Lobbying Campaigns—Your voice is heard at all levels of government: local, state, and national. NAR protects the real estate industry from cumbersome legislation and undue regulation, and advocates legislative and regulatory changes that enhance your ability to conduct business. At the national level, the Government Affairs Group analyzes federal issues and promotes NAR's policy objectives through Congress and the regulatory agencies... Read More

Videos

Videos to help you understand the proposed QRM rule and other risk retention issues.

Effort to Correct QRM Gains Momentum

Momentum is building as lawmakers on a bipartisan basis lead effort to modify banking regulators' proposal to require 20% down for affordable qualified residential mortgage (QRM) loans.

Why QRM Concerns NAR

An updated... Read More

Political Advocacy

The provision in the Dodd-Frank Act requiring financial institutions to retain 5% of the risk on loans they securitize exempts certain qualified-residential mortgages (QRMs) from the requirement.

NAR’s Position

NAR believes that Congress intended to create a broad QRM exemption, but the proposed rule narrowly defines QRMs.

NAR wants federal regulators to honor Congressional intent by crafting a QRM exemption that includes a wide variety of traditionally safe, well underwritten products such as 30-, 15-, and 10-year fixed-rate loans; 7-1 and 5-1 ARMs;... Read More

Articles and Blog Posts

Reference these articles and blog posts from NAR and other news sources to learn about the latest on the proposed QRM rule.

Recent Lessons for the QRM (Dec. 8, 2011)
NAR Economist Ken Fears discusses how the qualified residential (QRM) mortgage rule could affect the economy.

QRM Means Higher Rates During Market Volatility (Aug. 16... Read More

Logos and Marketing Materials

Certificates

Download the RAA/GAA certificate to use in your marketing—just add your name as you want it to appear and save it to your desktop:

Errors & Omission Insurance Providers

E&O Insurance Providers

Note: Some state associations, also have carriers they recommend (check with your state association for this information).

Organization of Real Estate Professionals (OREP)
6343 El Cajon Blvd. #245
San Diego, CA 92115
888.347.5273
Fax 708.570.5786 or 619.... Read More

State and Local Appraisal Groups

State/Local Appraisal Groups

Real Estate Appraisal Structures provide a vehicle for packaging and delivering products and services to appraisers at the state and local Association level. Structures that exist at this level include: Task Forces, Subcommittees/Committees and State Sections.

Reasons to form an Appraisal Group:

Termites: The Silent Invaders

These wood-chomping insects can cause tens of thousands of dollars in damage and render properties unsellable. Here’s how to identify and prevent termite infestation.

HUD-FHA Registry Status

Check your HUD-FHA Registry Status

Appraisers concerned about their registry status with HUD-FHA can check to see if they are on the Registry of HUD Appraisers.

Note: If the "exam passed" field is filled with a date in the appraiser's record, the appraiser is current and legal, providing their state license/certification has not expired.

NAR Member Benefits for Appraisers

Legislative and Legal Initiatives

Realtors® Take Aim at Appraisals in Anaheim

Anaheim, November 12, 2011

Accurate home appraisal valuations are vital in today’s market; inaccurate appraisals can slow down or even cancel a home sale. Today Realtors® and other real estate experts gathered at the “Appraisals: What You Absolutely Need to Know” forum during the Realtors® Conference & Expo to address this pressing issue.

“In today’s market, home appraisals that fail to provide accurate valuation are causing many sales to be cancelled or postponed,” said National Association of Realtors® President Ron... Read More

Field Guide to Places of Worship

Amendment I of the U.S. Bill of Rights states "Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances."

The intent and meaning of this amendment, and its translation into when, where, and how places of worship can exist, remains a highly debated topic in American society... Read More

Field Guide to Land Investment

(Updated November 2011)

While land investment may not provide the instant gratification of a home purchase, this sort of venture can be quite lucrative. Land investors have different needs and concerns than those of typical real estate investors - zoning, planning, environmental issues are just a few of the challenges they must face. This Field Guide will help those who wish to take on this interesting branch of the real estate industry. (S. Hogan, Information and Web Content Specialist)

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Field Guide to Golf Courses

Several aspects—design, development, appraisal and impact—of golf courses are explored in this field guide. This guide also explores the question of how golf courses and nature can coexist. Find out how and why developers using native vegetation, wildlife habitats, organic fertilizers, and environmentally challenged sites in their golf courses, in the featured content below.

Can Golf Courses and Nature Coexist?

Golf and resorts: Why golf is still relevant, (... Read More

Field Guide to Business Value

Valuing the intangible? Understand the distinctions between business value, going-concern, and goodwill—and find out how these concepts apply to hotels & motels, retail establishments, and special purpose properties—in this updated field guide

Terminology

BUSINESS ENTERPRISE VALUE (BEV)
"A term applied to the concept of value contribution of the total intangible assets of a continuing business enterprise such as marketing and management skill, an assembled work force, working capital, trade names, franchises, patents... Read More

Field Guide to Appraisal Of Real Estate Offices & Selling Your Book of Business

Whether you own a real estate firm or are thinking of buying or selling one, it's important to know what the business is worth. The following articles and studies can provide some insight into determining the value of a real estate firm and its assets.

Appraising a Real Estate Office

Retirement Planning Tool Kit, (REALTOR® Magazine).

Brokerage valuation analysis: Approximate your firm's valuation... Read More

Appraisal Designation Programs

The National Association of REALTORS® awards two appraisal designations:

RAA - Residential Accredited Appraiser

GAA - General Accredited Appraiser

The only appraisal designations with the strength and tradition of the REALTOR® name!

Criteria for the designations are:

You must be an active member of the National Association of REALTORS®. This includes membership with the Institute of Real Estate Management (IREM), Commercial Real Estate Institute (CCIM), REALTORS® Land Institute (RLI), Society of... Read More

Member Benefits

Market your business!

There are a number of ways you can promote your RAA/GAA Designation. Take advantage of the following benefits to get the most out of your membership, and market yourself as an accredited expert.

Exclusive Webinars

Special experts cover timely topics to keep you up-to-date on appraisal issues and trends. RAA/GAA members are exclusively invited to participate in the webinars with the opportunity to ask question and engage in lively discussions.

Promote Yourself as an Accredited Appraiser

As a RAA/GAA Designee, you can... Read More

Discover New Sources of Appraisal Business

On Friday April 23, 2010, NAR Appraisal hosted a webinar for all RAA and GAA Designees. The topic of this webinar was Discover New Sources of Appraisal Business presented by Melanie McLane. You can view a recording of this webinar here, or you can download the presentation slides (PDF: 864K).
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