Ahead of the Crowd?

[rtubbs]

P.S.

And I would certainly not disclose that in my appraisal(s).

R in A

 

[bobburnitt]

Bob, I would strongly disagree with you. Where does USPAP say that you cannot supply a client a printer for which that client can receive your appraisals. Let me ask you, do you disclose in your appraisals that you paid the fedex fee or express fee to get your appraisal to your client. same difference. sometimes, I think we are absolutely dangerous and causing ourselves untold agony over trying to interpret things in USPAP that just ain't there. I don't do that much edi (except for out of town lenders) but I can assure you that I would have no problem setting up a printer in a clients office if they would let me edi all my appraisals to them. In no way will I interpret that to mean that I am paying someone to get appraisal services. sorry, just my opinion.

Ron in Alabama

The trouble is that it is the powers that be's opinion that counts. USPAP says that you must disclose referral fees etc.

I would like to hear what the ASB has to say about such an arrangement. I know it borders on the silly. How can you keep them from using it for whatever?

It is an inducement for them to use your services over another appraiser's, so I believe it should be disclosed just the same as if you gave them a Mercedes. That is the whole thing, you give them the use of a printer, and (of course you would have to provide the cartridges, thats what really costs), and then to compete with you, I would have to loan them a company car. Then you loan them two company cars (just to use when they are reviewing YOUR appraisals), and then I would need to send them on an educational tour of the Bahamas (to help them better understand my appraisals). Next thing you know, ENRON.

I know it sounds a little absurd, but this is the most crooked business I have ever been in, and I ain't no kid.

Of course, if you loan them a printer, and I guarantee them I will always hit the number, guess who they will hire?

BB in Texas

 

[Austin]

I gave up dealing with FNMA and mortgage lenders about 10 years ago. I have done one FNMA form appraisal in the last 10 years and that was just to see what it felt like, so I live in a different world.
I do have a question for you residential mortgage appraisers though: Recently I have been getting a lot of calls from these lenders asking me to do appraisals for them. They come in over the fax machine. I work in an office building with a real estate lawyer and a title company and the lawyers secretary told me if I wanted to do mortgage work she could give me all I want. She stopped me in the hall again this week and asked me again.
I got this call Friday from a mortgage lender begging me to do a 2055 appraisal. I tried every line I knew to get rid of him but he wouldn’t give up. I gave him the name of every appraisal office in town and he said they all told him to call me.
When I talk to local appraisers they say business is slow to fair. What is going on in this business? I am getting mixed signals. Week before last I did more business than any week since I have been in business. Last week I was far above the week before. The last six months have been a mad house. I stopped answering the phone and they walk in off the street and pay me up front and won't take no for an answer. Then I come up to this board and it sounds like the world is coming to an end. Whass up?

 

[Dee Dee]

Austin,
Just a thought....perhaps the mortgage lender that all of the appraisers are pushing off to you is a real dud that they don't want to deal with. If I were you I'd be asking myself why all of the appraisers decided to point the lender in your direction.
Checked your profile, it doesn't say what part of the country you're in, mind if I ask?

 

[Blue1]

Austin,

They're all lying. :lol: It's been my experience that most appraisers will not divulge just how much work they have. Sounds to me like they're all so busy that this lender cannot get a report in their time frame so they (the lenders) are seeking other avenues. (That'd be you) My advice, charge them to the hilt. That way they will either not send you the assignment or, if they do, you'll be making good money and maybe even gain a lucrative client.