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Give me a break

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In the end the technology would have wiped out the fee advantage you had from selling appraisals door-to-door to the loan originators.

Besides, it's immoral for the outside loan originators to control the appraisal. They're not an intended user and their usage is in direct conflict with the stated usage of those appraisals.

The business model you came up under should never have been allowed to exist in the first place.
 
it is better now, your buddy the scum bag mortgage broker is estimating value.

how does it taste?

:rof: :rof: :rof:
 
It's the lender's money (which means its not the bkrs money), so how they make those decisions is none of our business. When it's your money then your opinion about how those decisions will be meaningful to someone - you.

We can believe all we want that these lenders are being allowed to make the wrong decisions and that they're taking unnecessary risks, but nobody cares what we think. We are irrelevant to those decisions.

You don't matter to anybody, and neither do I. You're zooming yourself if you think otherwise.
 
oh sorry i am a taxpayer, here for the bailout babies whims

'Any Number Every Time' is your banks new motto



:rof: :rof: :rof:
 
George Hatch said:
Maybe one day AVN can be incorporated into an appraisal too , idk. but substituting an AVM for an appraisal is problematic unless there is a slew of regulations about how they are ordered, who gets to review them if anyone, , who picks the value from their result etc, and that combined with the inspection requirement makes them almost as expensive as an appraisal ..... just saying.​


I doubt you can load enough additional steps for a lender to use an AVM that would even come within 1/3 the total cost of their use of an appraisal. Appraisals get handled and read by users, too.

There are assignments out there where getting an appraisal is money well spent, including some that reveal facts about the subject that will kill the deal regardless of what the value is. But there are also assignments out there where getting an appraisal adds zero utility to the user.

Who can even know how many appraisals assignments we've all done (myself included) where the additional effort involved in the appraisal added no utility to the user's usage when compared to if they had used one of these alternatives? The appraisal didn't reduce their effective risk one little bit because "the value" was never critical due to the low LTV.
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You are an appraiser advocating to not use appraisals , (so a borrower can save $200? - banker will just upcharge that $200 elsewhere ) Why is our field under attack by its own, what other field sees that ? Do lawyers post on social media for people not to use them, and the should use a cheaper Legal Zoom instead ? Only the owner or proxies of Legal Zoom would...

And again, the regulations for origination loans is they can not use an AVM alone, they must (typically) use at least an evaluation (or a desktop appraisal ) with at min an ext inspection.
 
Mark K said:
Your anti-capitalist agenda is showing thru again.

If you think that the obscener profits would lessen if lenders required full appraisals, think again. They would simply pass the expense along to the borrower; their profits wouldn't be affected by a penny and the evil CEO's would continue to make a lot of $$ along with the stock holders.

BTW, I doubt seriously that Bank of America's mission statement includes anything about guaranteeing full employment for real estate appraisers.
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I am against excesses of capitalism when it becomes an abuse of capitalism ( which is not the same as being anti - capitalist )

I am fine with lenders passing off the expense to the borrower - a borrower is far less damaged by paying a $100 AMC fee to lender,, the few times they purchase or refinance in their lifetime, vs an appraiser subsidizing it, resulting in income loss to appraisers, if they do AMC work of anywhere between 10k-30k or more, annually.

I am also okay with the CEOs making obscene profits, as long as I am not funding it through my loss of income for appraisals, esp as the split fee is a GOVT ENTITLEMENT allowing it. How come you come down hard on any govt program that helps the worker, but you are gung ho for a govt program that helps the wealthy/corporate interests?
 
J Grant said:
You are an appraiser advocating to not use appraisals , (so a borrower can save $200? - banker will just upcharge that $200 elsewhere ) Why is our field under attack by its own, what other field sees that ? Do lawyers post on social media for people not to use them, and the should use a cheaper Legal Zoom instead ? Only the owner or proxies of Legal Zoom would...

And again, the regulations for origination loans is they can not use an AVM alone, they must (typically) use at least an evaluation (or a desktop appraisal ) with at min an ext inspection.
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I don't read it that way at all. Strikes me as a more of an unbiased, realistic understanding of the market in which our services compete.
 
slimy brokers are worse then snakes. right, george?

:rof: :rof: :rof:
 
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