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  #1  
Old 02-24-2009, 09:04 AM
Gajope Gajope is offline
 
Join Date: Jan 2008
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 254
Default No appraisals? Now the ASA is going to sue. Has everyone lost their minds?

http://www.bloomberg.com/apps/news?p...6Vw&refer=home

Unbelievable! Let's just change all the rules. Then things will work right. Come on!!!
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Old 02-24-2009, 09:21 AM
Randolph Kinney Randolph Kinney is offline
 
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Location: SoCal
State: California
Professional Status: Certified Residential Appraiser
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Some times the government will violate its own rules or laws. It has happened and it will continue to happen.

Don't expect the cooperation of investors, the entities that buy the paper from the GSEs, as their interest is being destroyed.
  #3  
Old 02-24-2009, 09:42 AM
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George Hatch George Hatch is offline
 
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Location: Carlsbad, California
State: California
Professional Status: Certified General Appraiser
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I doubt there's going to be a lot of sympathy from the public for any measures that can be portrayed in the media as being in the interests of any trade group. Especially any appraiser groups.

I think the angle that the public should be concerned about is the hazard of masking the true equity positions of these loan modifications and the interference with the rights of the investors. There is no question that these machinations will have a long term cost for us all.
  #4  
Old 02-24-2009, 09:48 AM
Gajope Gajope is offline
 
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State: North Carolina
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you're right. They need to stick with:

“Determining loan-to-value is the linchpin of the plan, and in order to get a reliable value it makes sense to rely on professional appraisers.”

and stay away from comments like this:

"is weighing legal action to block the policy that would cost its members potential business"

Whenever politics or legal action is involved, you get more by showing a danger to the general public, not private business.
  #5  
Old 02-24-2009, 09:54 AM
Roy Courtney Roy Courtney is offline
 
Join Date: Dec 2006
State: Texas
Professional Status: Certified General Appraiser
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It is refreshing to see one of the appraisal organizations attempting to do something! I offer my congratulations to the ASA!
  #6  
Old 02-24-2009, 10:03 AM
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Carnivore Carnivore is offline
 
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Location: Queen City
State: North Carolina
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Quote:
Originally Posted by Roy Courtney View Post
It is refreshing to see one of the appraisal organizations attempting to do something! I offer my congratulations to the ASA!
I agree. Sitting back with a thumb up your you know what is certainly not helpful.

This is all stimulus and refi's are an attempt to stabilize the markets, keep people in there homes and lets face it save jobs like mine!
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