Illegal In House Valuations

[djd09]

만세! Korea.....you're not a bunch of pu*sies like American Uber Eats appraisers bending over and grabbing their ankles.

you notice how they all hid their faces...blacklisting is real

 

[Surf Cat]

you notice how they all hid their faces...blacklisting is real

You have disgraced the temple!

 

[djd09]

You have disgraced the temple!

View attachment 103990

someone is mia...

 

[Fernando]

USPAP has no power or authority over non appraisers. Congress could stop it... but, my guess is they won't.

One day I will not renew my appraisal license and I can work for a lender in doing valuation.
I can work around USPAP and help lenders approve loans without using an appraiser. I'll save the lenders and borrowers lot of money

 

[Surf Cat]

I can work around USPAP and help lenders approve loans without using an appraiser. I'll save the lenders and borrowers lot of money

That's what we as appraisers are opposing you knucklehead....

 

[Fernando]

That's what we as appraisers are opposing you knucklehead....

Then USPAP has to put a stop to it.
If not, like I said I see ways in going around USPAP in doing valuation decisions without appraisers.
Unfortunately, these valuations at this time won't be as accurate as an appraiser.
But as long as the loss from bad valuations is tiny amount compared to the huge profits from nonappraisal valuations, it's a profitable risk for lenders to take.

 

[sputnam]

that is right...USPAP is useless

It's not useless. It's aimed at appraisers... and always has been.... not at people in any other profession.

 

[George Hatch]

Fill in the blank

The difference between an appraiser performing an appraisal for a lender as an employee vs via direct engagement is ___________​

 

[Terrel L. Shields]

he difference between an appraiser performing an appraisal for a lender as an employee vs via direct engagement is ___________

If unlicensed the valuer is governed by the IAG - interagency guidelines, not USPAP. That's a much lower bar and not subject to state boards.

 

[Joe Flacco]

I think big banks lending their own money should be allowed to take valuations back in house. They should be able to do it in house without full blown appraisals. The whole collateral risk management model should be overhauled. What we are doing now is basically the same as it was pre-internet with the main changes over time being who communicates and engages with who. The model is way outdated for 2025.