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Home Valuation Code of Conduct – Wiki’s Opinion

What are your thoughts on Wikipedia, is it a valid reference or is it people’s perceptions? Now most of us know that Wikipedia is not considered a valid source for a research citation. But I always check there when writing on a topic just to see what the perception is ….valid or not. It is someone’s opinion. If you check the Home Valuation Code of Conduct (HVCC) under Wikipedia it explains briefly about the code and how it became effective in 2009. The funny part is the last part (which has been disputed – and not by me), it goes on to say that this had not been well accepted by most appraisers because it eliminated the constructive working relationship the appraiser’s had with a lender.

An AMC’s Thoughts on the Repeal of Dodd-Frank

An AMC’s thoughts on the repeal of Dodd-Frank……I recently read an article titled “An Appraiser’s Thoughts on the Repeal of Dodd-Frank” by Tom Horn, and I found it interesting that our thoughts lined up so well on some key points about what we would like to see remain and what we would like to see removed if Dodd-Frank is changed. 

Just what does a Fed rate hike mean?

We’re all influenced by interest rates in some way. But what does it affect when the Fed changes its benchmark interest rate? In the past three months, the Fed has raised its rate twice, and it’s expected that there will be two additional rate increases in store still for this year. Consumer products like mortgage loans, credit cards, car loans, and savings accounts are all affected differently by Fed rate hikes. Here’s how.

Utilizing SAMCO as an Appraiser Resource

Contract Amendments; When?  (Illinois Appraiser Newsletter – January 2017) Was an excellent article that describes the appraiser record-keeping requirement and the issues that many appraisers face by having access to all versions of a report that they have produced. The appraiser's work file is required to be complete and contain all copies of revised reports. That can be a little hard depending on your software and your tracking system. Many appraisers already have their method down for complete record keeping, but just in case you miss one, let me point out that the SAMCO system keeps all versions of your reports.

Competency and Quality top list of recent survey

Two recent surveys of both AMC’s and Lenders reveal that both believe that appraiser competency and quality are the most pressing issues for our industry today. I know that a lot of appraisers would take offense at this, but it’s true. There are many great appraisers and good appraisers. But there are also a large number of appraisers that just do not want to enter into the 21st century and understand that the product they produce is completely read, from front to back. Todays’ appraisal must PROVE the value. The days of taking an appraiser’s word for it are gone. This means goodbye boilerplate and hello well-written explanations of reasoning and logic.


The Federal Reserve Bank of Chicago reported in their latest AgLetter that Midwest land values suffered a third consecutive annual decrease. Granted, the 2016 decrease was only 1% overall, much smaller than the previous two years. 2015 and 2014 both has 3% decreases for both years.

Record harvests of corn and soybeans were produced in 2016 for the five states that make up the Chicago district. According to USDA corn yields increased 11% and soybeans 8.7% from 2015 levels. National corn production for 2016 established a new record of 15.1 billion bushels, up 11% from 2015. U.S. soybean output for 2016 set a record of 4.3 billion bushels, up 9.7 % from the previous year.

‘Customary and Reasonable’ fee’s required in North Carolina

North Carolina has passed legislation that appraisal management companies must pay customary and reasonable fees to appraisers. Active enforcement is in place now. North Carolina is joining the growing list of states that are being proactive on the Dodd Frank requirement of Customary and Reasonable. Kentucky, Texas, and North Carolina are just a few.

Below is the email and guidance document issued from the North Carolina Board.

To all appraisers, appraisal management companies, and interested persons:


More than 10,000 community banks have exited banking through failure, mergers, and acquisitions since 1984. In the mid to late 1980’s, there were roughly 15,000 community banks providing financial services to their local communities. Thirty years later there is only one-third as many community banks, many of which have total assets less than $100 million. These ag banks tend to be small with a limited number of employees, and banks acquiring ag banks tend to be about four times larger than the banks they acquire. The clear majority of acquisitions of ag banks were by other community ag banks through merger and acquisition.

To learn much more detailed analysis go to Farmer Mac’s ‘The Feed’ newsletter.