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  #1  
Old 08-13-2009, 04:51 PM
staceyuw staceyuw is offline
 
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Default AMC Appraisers--seriously?

I thought I would share this funny... I just got an appraisal done thru a AMC and the appraiser they selected stated in his report (cut and pasted this):

"To use these as comparable would be like comparing apple to oranges and a baseball andcalling it fruit salad."

Wow, how professional right?
And to top it off the appraiser they used is someone that my bank has not sent ANY business to since he is incompetent. But he has managed to wiggle his way onto every AMC we are forced to use. BOOOO.


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Old 08-13-2009, 05:02 PM
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Bearslide Bearslide is offline
 
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Quote:
Originally Posted by staceyuw View Post
I thought I would share this funny... I just got an appraisal done thru a AMC and the appraiser they selected stated in his report (cut and pasted this):

"To use these as comparable would be like comparing apple to oranges and a baseball andcalling it fruit salad."

Wow, how professional right?
And to top it off the appraiser they used is someone that my bank has not sent ANY business to since he is incompetent. But he has managed to wiggle his way onto every AMC we are forced to use. BOOOO.


That's hilarious - if it weren't so sad. There are two other threads going on wherein AMC's are trying to justify their existence. Thanks for posting that, Stacey. Priceless! Must be from an "equally qualified" appraiser and not an "irrelevant" appraiser. Please - do tell your bank they CAN self-manage and comply with HVCC. They'll come out ahead of the game.

http://appraisersforum.com/showthrea...6&goto=newpost

http://appraisersforum.com/showthrea...34#post1856934
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  #3  
Old 08-13-2009, 05:03 PM
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JRS at OBX JRS at OBX is offline
 
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Was that in the main body of a report? I could understand if it was a reply or rebuttal to the AMC reviewers asking why the appraiser didn't use a certain comp. The AMC folks sometimes need things explained in very simple terms, especially since many of them barely speak english.
  #4  
Old 08-13-2009, 05:06 PM
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Hopefully that was just an email to AMC reviewer staff
  #5  
Old 08-13-2009, 05:11 PM
Diego Lopez Diego Lopez is offline
 
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Sound to me like a reconsideration of value rebuttal. Good for him
  #6  
Old 08-13-2009, 05:26 PM
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Originally Posted by Diego Lopez View Post
Sound to me like a reconsideration of value rebuttal. Good for him
I agree with those who suspect the appraiser was being pressured to change comps at the request of a broker or LO.
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Old 08-13-2009, 05:29 PM
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Sounds like a response to some idiotic Underwriter stips. I'm a' copying and a' pasting for my next go round with yesterdays phone answerer girl/todays undewriter.
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Old 08-13-2009, 05:58 PM
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Seriously--good response.

Years ago took report writing through the AI--was given a Denver area appraiser's report to view by the Phd who was team teaching the class.

In the highest and best use section of the report, which was for a mixed use development outside Boulder (home of UC), he indicated that the project was close to the campus which was a positive because "students spend money like drunken sailors" (or something to that effect). Also, one sale in an array was signficantly higher than any of the others--the appraiser indicated that he spoke with the purchaser who assured him that he didn't feel that he had overpaid. The appraiser then commented that given that the definition of market value implies someone smart and not "stupid" he was disregarding the sale.

The appraiser was certainly not conventional but he got his points across strongly and effectively.
  #9  
Old 08-13-2009, 06:18 PM
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Quote:
Originally Posted by staceyuw View Post
I thought I would share this funny... I just got an appraisal done thru a AMC and the appraiser they selected stated in his report (cut and pasted this):

"To use these as comparable would be like comparing apple to oranges and a baseball andcalling it fruit salad."

Wow, how professional right?
And to top it off the appraiser they used is someone that my bank has not sent ANY business to since he is incompetent. But he has managed to wiggle his way onto every AMC we are forced to use. BOOOO.


Stacey,

I have to agree with those that say this sounds like a rebuttal to someone wanting the appraiser to change their report.

I'm also curious why this appraiser is considered incompetent by your bank.
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  #10  
Old 08-13-2009, 06:23 PM
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Quote:
I'm also curious why this appraiser is considered incompetent by your bank.
To many low values and continued refusals to cooperate. Not a team player. Blows too many deals.
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