AMC purpose

[Terrel L. Shields]

Stinkin, spineless appraisers have more power then they realize if they'd just collectively boycott AMCs for a couple of weeks and generate national news of their plight. Losers...

When the mortgage is due and the kids need shoes, being 'right' comes at a huge cost. The problem is the regulators looking the other way. If they would simply do a full review of 1 in 20 reports, and then punished both the bank and the AMC for the errant ones, then the whip hand would change. Until the regulators regulate, nothing will change. We can whine, cry, and throw a temper tantrum but sometimes you have to take what is offered because you have no real choice. Having income from 3 other sources gives me options, many younger appraisers don't have.

 

[Surf Cat]

sometimes you have to take what is offered because you have no real choice.

I understand. But sometimes you have to take a stand....

$250 out of $750 is "not" an offer....that's rape.

 

[djd09]

Like I said, all Relman did was write an elaboration on an existing prohibition. There has never been any loophole in the ETHICS RULE for an appraiser to exploit WRT bias and racism. Which you would understand if you ever read it.

 

[George Hatch]

^^^^ That's actually not a bad way to frame TAFs position in this controversy. Here's why:

The "appraisers are racists" trope is useful precisely because it can be levied without actual examples of misconduct by the appraiser, which would include evidence of what they did (that's easy) as well as why they did it. (motivation). Motivation if often the most difficult element to prove. So with the racism trope, there is no defense against the accusation that will resonate without proving the negative. Proving the act wasn't incorrect and/or proving the motivation wasn't racism.

All any of the critics can actually prove with the appraisals is that property values vary by location. They haven't even made an effort to prove that the same appraiser will do different for 2 neighbors on the basis of one of them being a minority.

If I measure a building wrong or get the Q/C ratings wrong my motivation for that *could* be racism but racism isn't the only way that can happen. I might have just made a mistake.

Even if I did act with personal bias, that bias *could* be race related, except that race isn't the only form of personal bias that can happen. Maybe I thought they were giving me stinkeye or were antagonizing me on the personal level. Regardless of my problems that doesn't justify me acting with personal bias whether its to their advantage of disadvantage. If I had the hots for Sharon Stone it would be just as dishonest and unprofessional for me to dork an appraisal to her favor as it would be to dork an appraisal because someone was insulting my mother.
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Getting back to TAFs response to the pressure being brought to bear by the politicians and the Biden Administration officials, they were and still are unable to take the appraisers' side in that controversy because there isn't any data that supports the denial, just as there isn't any data that actually supports the allegation. The ONLY response TAF could ever have made at that point is to say "all bias is prohibited and we will make every effort to reinforce that element of the ETHICS RULE".

As I see it, TAF paid the ransom to the hostage taker (Relman).

I keep saying it: that "appraisers are racists" theme may be in retreat under the current administration but nobody on the left has forgotten it and it's going to be coming back twice as hard the next time the left takes control of the govt. The allegation has not been proven by objective analysis and it also has not been disproven.

 

[djd09]

500 k to some goof lawyers sounds like a bribe, kickback, or money laundering...

 

[George Hatch]

I call it a ransom, but bribe or kickback are equally applicable. I'm not so sure of "money laundering, though.

 

[Terrel L. Shields]

If I measure a building wrong or get the Q/C ratings wrong my motivation for that *could* be racism but racism isn't the only way that can happen. I might have just made a mistake.

USPAP mandates perfection while claiming they don't expect perfection. Catch 22. By that I mean a mistake that does not impact value is excusable but a mistake that changes the value by $1 is a violation of USPAP.

 

[George Hatch]

Doesn't demand perfection or "accurate" opinions. That's a myth. We still need to perform competently, though. The basic "Competency" requirement being measured by what we end up with. Not what happens at some interim point.

 

[glenn walker]

I understand. But sometimes you have to take a stand....

$250 out of $750 is "not" an offer....that's rape

Rape is forced and taking a order is a decision. If you accept the $250 then it's mutual agreement. If you decline the $250 that's a business decision and nothing more or less. All that matters is what you collect not what anyone else gets paid.

 

[Carnivore]

I have said this before and will say it again. To fight back against the AMC's you have to market yourself to direct lenders. Thats not easy. I was also looking into using my RE Broker license to do referrals to favorite realtors. I also market myselve to agents measuring their listings. and even taking photos for them if needed I did look into getting a home inspector license, It is similar to being a trainee so it takes time. Hard Money Lenders pay well but they our really picky about your report.

Being retired now I do miss it but not terribly. Just glad I am out of this rat race to the bottom the AMC's put u s in.

One more thing AMC's and you know this AMC's are really good at making you aweat when you submit a quote,