The New Appraisal Industry

[djd09]

Section 4764.02 of the Revised Code does not apply to any person described as follows if the person is acting within the scope of practice of the person's respective profession:

(A) A person who is employed by or whose services otherwise are retained by this state or a political subdivision of this state for the purpose of enforcing building codes;

(B) A person holding a valid certificate to practice architecture issued under Chapter 4703. of the Revised Code;

(C) A person registered as a professional engineer under Chapter 4733. of the Revised Code;

(D) A heating, ventilating, and air conditioning contractor, refrigeration contractor, electrical contractor, plumbing contractor, or hydronics contractor who is licensed under Chapter 4740. or section 3781.102 of the Revised Code or who is licensed or registered under section 715.27 of the Revised Code;

(E) A real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson who is licensed under Chapter 4735. of the Revised Code;

(F) A real estate appraiser who is licensed under Chapter 4763. of the Revised Code;

(G) A public insurance adjuster who holds a valid certificate of authority issued under Chapter 3951. of the Revised Code or an employee or representative of an insurer licensed to transact business in this state under Title XXXIX of the Revised Code who conducts an inspection of any property or structure for purposes related to the business of insurance;

(H) A commercial applicator of pesticide who is licensed under Chapter 921. of the Revised Code.

in ohio...we are exempted they are not well duh

 

[djd09]

the wordsmithers are the worse then the spelling police...

 

[Gooooose]

Yeah, well, then you are wrong.

Tons of appraisers doing this for lenders currently.

 

[alebrewer]

All my clients back then said never leave the house without a check from the borrower. I did have one that would send me an order but say don’t start on it until I meet with the borrower and get a check from him. It was always bad news when buyers would be in the game of will pay you at closing.

Mine was about half-half. Until I got burned a few times, then it was 100% collect at the door.

 

[Non Sequitur]

What they do used to be referred to as performing an appraisal service and was considered significant appraisal assistance which required an appraisal license of some level.

Yeah. If a licensed appraiser sends someone out to inspect, it’s nothing but drama if the appraiser claims it’s not appraisal practice. But if a licensed AMC sends someone out to inspect the property, all of a sudden it’s not appraisal practice, it’s data collection.

 

[J Grant]

Tons of appraisers doing this for lenders currently.

"Tons? " How do you claim to know that?

 

[Joe Flacco]

Tons of appraisers doing this for lenders currently.

What are they doing?

 

[Surf Cat]

Careful, now you are treading on hallowed ground!

Treading? The lenders have already trampled the grounds and are making a mockery of the appraisal industry. Now Hatch, is making a similar assumption that the lenders are about home inspectors. That is, unless I completely misconstrued the meaning of his post.

Back in my youth, I worked in the surfboard manufacturing industry as a polisher. It was the very tail end of the entire process.... the easiest of the entire process. You can't just grab a Makita rotating buffer machine and make a surfboard look like glass after watching a video.

Let's take you Terry. I read your posts when it comes to appraisal problems and I can tell you're an exceptional appraiser. You might get a little prickly here and there... but that doesn't diminish your knowledge and experience within the appraisal profession.

Watching a 6-hour Mckissock video then going out with an iPad to inspect the subject property via prompts to be relied on for valuation is not going to trump "you" going out in the field..... there's just no way.

For the lenders and their money grubbing AMC partners to write all these flowery statements saying this is the way of the future and it's much better is really insulting....

 

[TerryRohrer]

Treading? The lenders have already trampled the grounds and are making a mockery of the appraisal industry. Now Hatch, is making a similar assumption that the lenders are about home inspectors. That is, unless I completely misconstrued the meaning of his post.

Back in my youth, I worked in the surfboard manufacturing industry as a polisher. It was the very tail end of the entire process.... the easiest of the entire process. You can't just grab a Makita rotating buffer machine and make a surfboard look like glass after watching a video.

Let's take you Terry. I read your posts when it comes to appraisal problems and I can tell you're an exceptional appraiser. You might get a little prickly here and there... but that doesn't diminish your knowledge and experience within the appraisal profession.

Watching a 6-hour Mckissock video then going out with an iPad to inspect the subject property via prompts to be relied on for valuation is not going to trump "you" going out in the field..... there's just no way.

For the lenders and their money grubbing AMC partners to write all these flowery statements saying this is the way of the future and it's much better is really insulting....

You may have misconstrued the meaning of my post! I was needling the few among us who have a clue about making surfboards! Hope my emoji doesn't show any stickers.

 

[djd09]

AMC Hires a Convicted Felon as Property Data Collector​

The recent case of Paschal Uchendu, a convicted felon awaiting sentencing for orchestrating a $1.2 million armed robbery of a courier van, which he was entrusted to secure, is cause for alarm when it comes to the use of unlicensed property data collectors. One of the largest appraisal management companies, Class Valuation, had hired Mr. Uchendu as one such property data collector despite his criminal background and pending legal issues – clearly demonstrating their lackadaisical attitude towards vetting employees who are tasked with collecting sensitive information about properties and homeowners. Class Valuation is among the six vendors approved by Fannie Mae to handle its new valuation process, which removes traditional appraisers from the equation.

https://i0.wp.com/appraisersblogs.c...sValuation-AMC-hires-a-felon-as-PDC.jpg?ssl=1

https://appraisersblogs.com/AMC-hires-a-convicted-felon-as-property-data-collector/

warning to home owners...this is what they call public trust