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| OCTOBER 2004 |
A Publication of
ELLIOTT® & Company Appraisers |
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ELLIOTT®
HEADING TO MBA CONVENTION |
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 Representatives
of ELLIOTT® & Company Appraisers will be at Booth 1505 during the 91st
Annual Convention & Expo of the Mortgage Bankers of America that is
being held October 23-27 at the Moscone Center in San Francisco.
Representing the company at this convention will be Charlie Elliott,
president, Nicole Kalafut, office manager, and Melanie Brady, operations
assistant.
“We look forward to meeting those clients from around the country whom
we work with on a daily basis as well as those future clients we have
not yet met,” Elliott said.
All mortgage professionals attending this convention are encouraged to
visit our company’s booth and discuss how we can help them meet their
appraisal needs throughout the United States. Visitors can pick up
company literature, discuss their appraisal needs and register for a
drawing for a free Palm digital assistant.
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USPAP, STANDARDS THAT APPRAISERS MUST FOLLOW
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 USPAP
stands for Uniform Standards of Professional Appraisal Practice. The
need to establish and recognize these standards became clear in the
aftermath of the savings and loan crisis of the 1980s.
In 1986 a committee consisting of leaders of nine different appraisal
organizations in the United States and Canada was set up to see that
mistakes that led to the S&L failures would not be repeated. The
following year, the eight U.S. members of this committee formed the
Appraisal Foundation for the purpose of implementing USPAP, which was
formally adopted in 1989. Later that year, Congress passed the Financial
Institutions Recovery, Reform and Enforcement Act (FIRREA) which
required in part that all real estate appraisals used in federally
related transactions be performed in accordance of USPAP. In 1992, the
Office of Management and Budget required federal land acquisitions and
direct lending agencies to use appraisals in accordance with USPAP.
Therefore, USPAP is more than a set of professional standards. It is the
law.
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QUOTES
OF WIT & WISDOM |
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“Idealism is what precedes
experience; cynicism is what follows.”
– David Wolf
“When men are pure, laws are useless; when men are corrupt,
laws are broken.” – Benjamin Disraeli
“Shallow men believe in luck; strong men believe in cause and
effect.”
– Ralph Waldo Emerson
“The greatest mistake you can make in life is to be
continually fearing you will make one.”
– Elbert Hubbard
“Creditors have better memories than debtors,” –
Benjamin Franklin
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ELLIOTT® & Company Appraisers
currently offers appraisal service throughout all 50 of the United
States. Clients are encouraged to place orders directly to any
office local to properties to be appraised or to the central office
for assignment.
Orders may
be placed via telephone, fax or through the company's Web site. All
Internet orders will be processed through the central office.
Some
Offices Are Independently Owned and Operated
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3316-A Battleground Avenue
Greensboro, NC 27410
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