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WASHINGTON (AP) -- Government exams of the nation's biggest banks have helped lift a cloud of uncertainty that has hung over the economy.The so-called stress tests - a key Obama administration effort to boost confidence in the financial system - showed nine of the 19 biggest banks have enough capital to withstand a deeper recession. Ten must raise a total of $75 billion in new capital to withstand possible future losses."The publication of the stress tests simply cleared the air of uncertainty," said Allen Sinai, chief global economist at Decision Economics. "The results were not scary at all."He said it will take a long time for the banks to resume normal lending. But the test results didn't alter his prediction that economy is headed for a recovery in October or November.A key indicator of economic health will be released Friday morning, when the government announces how many more jobs were lost in April and how high the unemployment rate rose.The stress tests have been criticized as a confidence-building exercise whose relatively rosy outcome was inevitable. But the information, which leaked out all week, was enough to cheer investors. They pushed bank stocks higher Wednesday, and rallied again in after-hours trading late Thursday once the results had been released.Among the 10 banks that need to raise more capital, Bank of America Corp. needs by far the most - $33.9 billion. Wells Fargo & Co. needs $13.7 billion, GMAC LLC $11.5 billion, Citigroup Inc. $5.5 billion and Morgan Stanley $1.8 billion.

Appraisal Services Network is an appraisal management company as defined in the Home Valuation Code of Conduct. We can provide all of your appraisal needs. We have a pool of independent appraisers in every county to give you rapid professional appraisal service.
At Appraisal Services Network we are taking a 3 tier approach to helping you establish market value.  Tier 1 is a tax ratio value that can be used as a starting point.  This type of valuation is free and is the least reliable of the 3 tiers..  Tier 2 is a Limited use Desktop Appraisal where actual recent sales are researched based upon public records , information submitted through the website and has a reducedcost between $75.00 and $100 dollars. This tier is more accurate than a Tier 1 or tax ratio value but less accurate than a tier 3 full appraisal.   Tier 3 is a full appraisal utilizing all applicable approaches to value,  is the most reliable method of determing the value of your home.  Fees vary depending on size, location and report return time.   
On May 1, 2009 the relationship between licensed appraisers and lenders will change dramatically. All loans originated after that date will need appraisals made under the new Home Valuation Code of Conduct. Lenders may no longer hire or pay appraisers directly. Appraisals must be ordered through an Appraisal Management Company by a non-commissioned employee of the lender / mortgage broker.
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