Intimidation....I Will Not Be Silenced

[chad hampton]

Chad please quit digging the hole deeper you’re just exposing how your thinking is cross wired to default to your emotions. You're like a dog that no matter how much training keeps chasing cars until one day he really catches one and gets run over.

Why do you bring up emotions so much? Typically a clear sign you lost the argument.

I never argued to get anything removed from the rules or regs. And I never threatened an appraisal board Should they attempt to enforce their laws. Important to remember.

It’s always the same three people on this board that share these views. 2 of you I imagine got wealthy from the changes. The other one can’t speak out otherwise because of the NDA.

It’s got nothing to do with facts or who’s in the right.

I just don’t kiss their *** like they’re used to in this profession. Honestly, I have contempt for them.

 

[glenn walker]

LOL.

GLENN...really? You out of all people took the bait? Im disappointed.

In Alaska there are Bush Pilot's who do fly over appraisals of land that can't be accessed unless by hiking or on pack mules.

Some on this forum would tell the Alaska State Board these appraisers were in very serious violation of USPAP and their licenses should be revoked. Lmao)

 

[Surf Cat]

Problem is really the client in not getting an accurate view of subject from appraiser's eyes.

You don't seem to be getting that the clients don't value the appraiser inspecting the subject property or driving the comps..... they just want appraisers to choose the most recent, relevant sales, crunch the data, and stick the results in a form....provide them with an opinion of value on their license.

This is why to me, those AI number crunching appraisal companies are looking better and better all the time. Unless you're doing hard money or private work, the old ways are come into an end.

 

[alebrewer]

First off....I'd be perfectly fine doing a hybrid.....but they just don't pay. It's a full 1004 sans the inspection. In my area they (the AMC's) only pay $100 to $125.

So then it's really not about producing credible results - it's about the fee, right? All the talk about 'the appraisal being lower quality because the appraiser didn't inspect' really boils down to 'they don't pay enough'. And that I can agree with.

What I was trying to convey is that if I did do them, I'd treat them just like a drive-by. I would do everything that I laid out in my prior post and be within the range of the most recent, similar sales. Not the upper end though.... Why should I stick my neck out and have my license, signature and E&O insurance on the line to just check it out...... it's just a more thorough drive by to me.

Nothing wrong with that approach.

I posted many times on that my mentor used to do these things. "Used to" being the keywords there. I know that DW touted in this thread that property data inspectors are more accurate than appraisers....my mentor couldn't handle the discrepancies of the PDR's data in comparison to the subject's prior MLS and or public records..... they didn't line up, there was no one to call to verify. So he stopped doing them.

I don't see nearly the amount of data that DW does, but I'd tend to agree with him on this one. Much like appraisers have a sales price as an anchor, I think it's fairly common to downplay condition issues as a means of 'helping' value.

 

[chad hampton]

You don't seem to be getting that the clients don't value the appraiser inspecting the subject property or driving the comps..... they just want appraisers to choose the most recent, relevant sales, crunch the data, and stick the results in a form....provide them with an opinion of value on their license.

This is why to me, those AI number crunching appraisal companies are looking better and better all the time. Unless you're doing hard money or private work, the old ways are come into an end.

What is an appraisal service then?

Just because a client is willing to accept something doesn’t make a good policy. My background is engineering where we clearly have much higher standards and ethics. But it’s the equivalent of allowing the contractor to go out and do soil testing and sending their own report to the engineer for a stamp. I’m sure that’s what the client would prefer but that’s not what they’re getting. It’s up to the license holders board to set the standards.

Maybe that’s what leadership in this profession really thinks - all that matters is the signature. I think if all you’re doing is downloading comps from an MLS pushing a button and have a computer come up with all your adjustments, you’re violating a whole bunch of ethics, rules, and standards. But if appraisal boards don’t give a ****, maybe that’s what I’ll do too.

I’m already gonna start sending runners out all over the state

 

[Fernando]

You don't seem to be getting that the clients don't value the appraiser inspecting the subject property or driving the comps..... they just want appraisers to choose the most recent, relevant sales, crunch the data, and stick the results in a form....provide them with an opinion of value on their license.

For purchases, almost all the time the appraisal value is near the sales price. Thus to the lenders, if they had it their way, they would forego using appraising since AI models now give a market range value. With cookie cutters in same terrain, values can be close to the AI model's market range but lenders are required to get appraisals for their funding.

This is why to me, those AI number crunching appraisal companies are looking better and better all the time. Unless you're doing hard money or private work, the old ways are come into an end.

In my area, each property is unique and when I find adverse issues, I discuss it and try to find similar comps which I doubt AI can do.
Even so, lenders have acceptable tolerance of risk and as long as within market value range, they are willing to accept lower cost of AI conclusions.

 

[chad hampton]

So then it's really not about producing credible results - it's about the fee, right?

I agree with you 100% on this one. If appraisers are gonna ***** about fee, then it’s not really about the quality or integrity. Appraiser groups always approached it from a public trust perspective.

Until the current situation of unknown people knocking on doors claiming to be appraisers, only going in to do something called data collection gets resolved, I think public trust is a huge issue with these.

Fortunately for these groups, realtors don’t even know they exist they assume the person going into Homes is the appraiser. If they weren’t, they wouldn’t be let in.

 

[DWiley]

The above noted, is it correct, or not correct , that a hybrid using a PDR exempts a lender from repurchase risk?

That is 100% incorrect. I don't even know where anyone would get that idea, but people post made up stuff all the time.
Lenders get repurchase letters when it is discovered they did not follow GSE policy in some way.

 

[djd09]

Didn’t you read above, they removed it because it was wrong

These guys are such pieces of work. I needed a good laugh on a Friday. I wonder if they ever sit down and really think about how much damage they’ve done to this profession?

it was a gse sow requirement of a personal inspection...so it was USPAP...dum dums can't ever remember what they wrote

 

[djd09]

tell them dw...you signed the 2.6 certifications plus fannie forms, fannie guidelines, fannie rating system, fannie review...and they think i can send a runner...i call it quasi client bias