Appraisal Independence & Bias

[ZZGAMAZZ]

I'm just wondering, way off-the-cuff;

If an appraiser routinely faces the potential for being accused of being biased, or discriminating against a borrower, shouldn't the appraiser be given demographic info about the borrower--age, gender, ethnicity, etc.--so the appraiser can determine in advance whether he or she wishes to accept an assignment? [Could be termed the "Bakke Algorithim to Assignment Acceptance."]

Like at present I am genreating and uploading a dated, preliminary version of partially-completed reports before meeting a borrower to be able to demonstrate that the Opinion of Value was partially determined prior to inspecting a property or meeting with a borrower in person--because unless an unusual factor becomes apparent during an inspection, the final Opinion should be apparent without the inspection being conducted, with a [+/-] margin of error, thanks in my scenario to Spark that allows a report to be 80% completed with minimal effort.

Posted here with tongue-in-cheek.....

 

[Zee_in_AZ]

Your point makes a lot of sense actually, but I'm sure it would be unfair to certain groups, thus presenting an advantage to the everprivilaged white man.

 

[George Hatch]

I try not to have an opinion about a property until I have an opinion.

 

[sputnam]

I'm just wondering, way off-the-cuff;

If an appraiser routinely faces the potential for being accused of being biased, or discriminating against a borrower, shouldn't the appraiser be given demographic info about the borrower--age, gender, ethnicity, etc.--so the appraiser can determine in advance whether he or she wishes to accept an assignment? [Could be termed the "Bakke Algorithim to Assignment Acceptance."]

Like at present I am genreating and uploading a dated, preliminary version of partially-completed reports before meeting a borrower to be able to demonstrate that the Opinion of Value was partially determined prior to inspecting a property or meeting with a borrower in person--because unless an unusual factor becomes apparent during an inspection, the final Opinion should be apparent without the inspection being conducted, with a [+/-] margin of error, thanks in my scenario to Spark that allows a report to be 80% completed with minimal effort.

Posted here with tongue-in-cheek.....

I try not to have an opinion about a property until I have an opinion.

I'm with George on this. I really don't care who the borrower or owner or agents or builder or loan officer is. My job, as appraiser, is to tell the story of the subject property. The borrower, owner, agents, and/or builder isn't an Intended User.

 

[djd09]

number hitting is still a thing...but who knew

 

[OSU Beavers]

The only information I want to know about the borrower is if they are an attorney, bank VP or realtor.

Those are the ones guaranteed to complain after an honest appraisal.

 

[chad hampton]

number hitting is still a thing...but who knew

What do you think the odds are that a staff appraiser for a company like clear capital or class comes in low on a UWM or rocket mortgage loan? Or whatever giant clients those companies have that are sending them thousands of appraisal request a day from all over the country?.

You’d have to have your head up your *** pretty far to think you’re getting independent valuations with millions of dollars a day on the line. Either that or you’re on the take too.

 

[djd09]

What do you think the odds are that a staff appraiser for a company like clear capital or class comes in low on a UWM or rocket mortgage loan? Or whatever giant clients those companies have that are sending them thousands of appraisal request a day from all over the country?.

You’d have to have your head up your *** pretty far to think you’re getting independent valuations with millions of dollars a day on the line. Either that or you’re on the take too.

they probably sent mej to room 101...so he could watch lowballed on loop

 

[chad hampton]

they probably sent mej to room 101...so he could watch lowballed on loop

Mej has definitely been re-educated by now. He'll probably come back and start liking George and Glen's posts

 

[glenn walker]

Mej has definitely been re-educated by now. He'll probably come back and start liking George and Glen's posts

Honestly he ranted for years and
I really had no idea where his road was leading to. I assumed he had some kind of breakdown and he couldn't afford therapy or had he pissed off the wrong person of color and they ended his career for good.

Unfortunately like Robot Dude he contributed nothing in helping the other appraisers make a living and just ranted on about nonsense and now he's obsolete and gone.