A version of this post originally appeared in the December edition of Scotsman Guide. Loan officers and listing agents are familiar with homeowner anxiety about real estate appraisals. Questions arise, such as: Does the appraiser penalize me if my house isn’t spotless? Will worn carpeting hurt my value? Will the appraiser look in my closets? […]
Author Archive for: Adam.Johnston
About Adam Johnston
Adam Johnston is Chief Appraiser and Director of Investigations for Genworth Mortgage Insurance. In this role, he manages a team of review appraisers who provide appraisal support to all U.S. mortgage insurance functions. In addition to his 25 years of appraisal experience, Mr. Johnston is a former police officer and served in the United States Marine Corps.
A Certified Residential Appraiser in several states, Mr. Johnston is a designated member of the Appraisal Institute, with the SRA and AI-RRS designations.
Mr. Johnston was also elected as 2017 Vice Chair of The Appraisal Foundation Board of Trustees. The Appraisal Foundation is a not-for-profit organization authorized by Congress as the Source of Appraisal Standards and Appraisal Qualifications. The Board of Trustees provides funding and oversight of the activities of the Appraisal Standards Board, the Appraisal Qualifications Board, and the Appraisal Practices Board.
Entries by Adam Johnston
Recently, Desktop and Drive-by appraisals (no interior inspection by the appraiser) temporarily replaced some interior inspection appraisals as a necessary response to health risks and quarantine orders related to the COVID-19 pandemic. This adaptation was appropriate and necessary to protect the health and well-being of homeowners and appraisers, while keeping the mortgage process moving. However, […]
Remember when manufactured housing used to equate to mobile homes? Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? For some, these myths still flood our thoughts when a potential borrower approaches us about a loan […]
This article first appeared in the June issue of National Mortgage Professional Magazine. The home appraisal has been requested…the waiting begins. As a lender, many questions race through your mind; “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser […]
Relax, underwriters, it’s just rural This story first appeared in HousingWire. Recently, the rural housing landscape has sparked discussion about its lending, affordable housing availability, housing shortages and outreach to underserved demographics. A spotlight has been cast on the rural space with questions probing why rural properties often face excessive underwriting conditions for appraisal issues […]
The home appraisal has been requested … and the waiting begins. As a lender, many questions race through your mind: “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood? Will the appraiser use good comparables? […]