Many thanks to Thomas J. Kneesel, SRA, Vice President, Associated Bank, who led a roundtable discussion about FNMA Collateral Underwriter. We were joined by forty appraisers who talked about how the CU works, how it generates reports, and how it is expected to affect appraisers and lenders.
The event was held at Steven's Restaurant in Gurnee, 401 N. Riverside Dr. (Rt.21) and included lunch and beverage.
Please join us for our upcoming Continuing Education class offering. See the Education Page for more information.
Prior 2014 Events:
Thank you for attending our USPAP update class. Also, thanks to all who attended the ICAP seminar held in Lisle. The events were well attended and we appreciate the support of our fellow appraisal professionals.
Past 2013 Events.
Thanks to all who attended our Narrative Report Writing class in Mundelein. The successful class helped us achieve our Continuing Education requirements for 2013's Illinois license renewal.
Thank you for attendingthe Lake County GIS/Mapping Division's FREE one hour seminar on their new and improved GIS MAPPING SYSTEM. A thorough review of the system's functionality was enlightening and will be of tremendous help to all real estate professionals working in Lake County.
Thanks to all who attended our first continuing education offering of 2013. As this is a RENEWAL YEAR in Illinois, we plan to offer another class toward continuing education credit.
Prior 2012 Events:
Thanks to all who joined us for lunch at our final 2012 meeting at Stevens Steakhouse in Gurnee, IL where we discussed current appraiser concerns. Our discussion began at 11:30 am and ran until 1:30 pm. The Lake County Chapter now accepts cash, checks, and credit cards for your convenience.
Thank you for joining us for a special breakfast presentation by Tom Kneesel, SRA, Vice President and Residential Appraisal Compliance Officer of Associated Bank and Lee Lansford, IFA, ASA Lansford and Associates, IL State Appraisal Board and ICAP Director, as well as Past NAIFA State Director.
Please note that all comments by Mr. Lansford and Mr. Kneesel are their personal observations and are not provided in an official capacity or on behalf of any company or board upon which they serve.
The event was held at In-Laws Restaurant in Gurnee, IL on Tuesday July 24, 2012 and the buffet breakfast was delicious. We covered topics such as Underwriter guidelines and State compliance. If you missed it, please stay tuned for future presentations from the Lake County Chapter. Thank you for your support!
THANK YOU for supporting the Lake County Chapter NAIFA.
AGENDA FOR JULY 24, 2012:
8:00 - Breakfast and Networking ; Welcome - David Hartshorne, President 8:30 - Current Appraising Issues;
Moderators - Joe Herchenbach; David Hartshorne
Q&A will follow each topic
10:30 - Wrap-up and final questions
Upcoming activities- Tami Bellisario
Appraising 2012 - Q&A - Current Appraising Issues
1. The UAD format and the UCDP portal:
Where is this UAD thing headed?
It seems I can no longer adjust for exterior anymore - what's up with that?
What and how is the information in these UAD fields going to be used?
How is the IAB involved with the UAD format?
2. What is Scope Creep:
What is Scope? How and when does it change?
My appraisal is over four months old and I just received an order for a 1004D
Update. Why are there questions about my original appraisal? Do I have to
I did an appraisal for a purchase and I know the loan is closed. I have received
a request to change something in my report. At what point is my work done?
What can I do to save time? What do I add to my 'scope' that is not needed?
3. What are the new USPAP requirements:
Everyone seems to be asking for a statement regarding prior services and
estimated exposure time. Are these USPAP requirements?
What about the geographically competent statement?
What happens if I have performed a prior service on the subject?
I provided the definition of exposure time as required, why an estimate, too?
Isn't exposure time the same as marketing time?
4. Appraisals are being 'scored' - how are they scored and what does it
mean as far as my continuing to work for a client?
What makes an appraisal score low or high?
Can a client remove me from their list if my appraisals score low?
I have heard that UAD may lead to appraisers being 'scored'. When will this
happen and will it be public?
5. Dodd-Frank has caused a number of new requirements on Banks, States
and now consumers to 'turn in' bad appraisals. Is this true?
What will banks be doing now that they haven't already done?
If some homeowner doesn't like my value, can they turn me in to the State?
What is the most common reason for a State-level complaint against an
6. We all make mistakes - what is the most common and/or easiest, to
What would the reviewers want us to correct?
What mistakes do the IL Appraisal Board recommend we correct?
7. Where do you see this industry headed?
I have heard about new AMC Rules - what are they requiring?
Are there any changes to me or my appraisal firm?
What are CVR's?
8. What would be your best suggestion for being successful in the future?
In 2012, with the new USPAP rules in effect for the next two years, the chapter offered the USPAP class which was well attended. Our classes and meetings always provide an opportunity to stay in tune with changes in Illinois State Law. Please check our Education Page for upcoming class offerings.
The Lake County Chapter holds meetings, speaker presentations, and educational offerings on a regular basis. Members and guests are encouraged to attend. Please feel free to join us and bring your ideas! Contact Tami Bellisario at firstname.lastname@example.org to add your name to our mailing list.
Please see our Education Page for the latest information regarding our offerings.
2011: This past year, with the new USPAP rules in effect for the next two years, the chapter offered the USPAP class which was well attended. Our classes and meetings always provide an opportunity to stay in tune with changes in Illinois State Law. Please check our Education Page for upcoming class offerings.
Thanks to those who attended the MRED update seminar presented by Jerry Hoffman. The information Jerry gave us will cut considerable time off of our data research as the extensive tools available online provide quick and easy access to time and cost saving information that we use everyday.
Thank you to all who attended our final continuing education classes for 2011. Our instructor, Elizabeth Kern, provided an informative and entertaining day at Doubletree in Mundelein where we enjoyed lunch and snacks as well.
On Monday March 21, 2011 Appraisal State Board Members Jim Blaydes and Tim McCarthy joined us at Steven's Steakhouse in Gurnee for a presentation of the New Rules. This presentation covered changes that appraisers NEED TO KNOW and was a very informative session. Thanks to all who attended!
We recently hosted a breakfast meeting at the Bellagio Cafe in Libertyville for a session with the MRED representative, Jerry Hoffman, who provided extensive information for appraisers regarding the use of Realist. The meeting was well attended and everyone left with new ideas on how to best utilize Realist's capabilities. Thank you to Jerry and all who attended!
Our December meeting with Brian Weaver was a great success. As always, Brian provided an informative and entertaining afternoon that left everyone with a better understanding of how the IDFPR works. The lunch and the service at the Doubletree Hotel in Mundelein was outstanding and we plan to hold more events at this location.
We recently had a visit from official from the Lake County and McHenry County Tax Departments who presented an overview of the tax appeal process and the relationships between appraisers, assessors, and the County. Thanks to all who attended.
In August, a group of us attended the ICAP seminar in Lisle for an exciting day of information and a great lunch. The Lake County Chapter provided free transportion to and from Lisle which helped alleviate extra traffic and allowed guests to sit back and relax for the ride. Thank you to all who attended.