Anyone Going To Valuation Expo ** Las Vegas In August ?

[George Hatch]

At the bank I worked for while all this was going down the loan production staff wasn't allowed to even talk to the appraisers, couldn't call the appraiser's desk and couldn't even step off the elevator onto our floor. If they had a problem with an appraisal they had to go through channels where our VP/Appraisals was going toe-to-toe with their VP/Loan Production.

It was so long ago that I had forgotten this tidbit until just now: the training on these issues was provided by the banking regulators themselves. They called a meetup for all the regulated lenders in San Diego and it was a roomful of banking execs and appraisal staff types, with regulators from the FDIC, OTS and OCC doing a 4hr presentation on these regs, along with a couple other hotbutton topics like what they expected when there was a DCF or discounting for non-stabilized occupancy.

 

[glenn walker]

Yeah, I'm sure that happened.

Sure did but not often but loan officers made a lot of money on transactions and to get a few single older appraisers on their team happened.

Wherever there's high fee commissioned loan officers or Realtors your going to get some pay to play actors. That's just human nature.

 

[djd09]

The operative term in the law is "appraiser independence" and those requirements are spelled out in writing. These regs pertain specifically to the regulated lenders. Take note of the date, and take note of the fact that this section of the regulation has not been retired: it is still in force as of the date of the most recent amendment in 07/2025. The reasoning and application was all spelled out prior to licensing coming online, ansd it never referred to the idea that lenders can only use appraisals or reviews performed by fee appraisers. the "independence" being referred to was from the loan originators, not from the lenders themselves as you seem to think.

The subsection pertaining to the engagement of fee appraisers is noted in the 2nd section. Not by itself and in isolation to the section pertaining to staff appraisers.

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independent is a clearly defined term in the dictionary...it can't be rewritten...intentionally or not

 

[djd09]

So, no update from anyone here on day 1 of the AMC expo?

they are probably slobbering over each other while they devise new ways to nickel and dime the appraiser...they used to call that a conspiracy

 

[Surf Cat]

they are probably slobbering over each other while they devise new ways to nickel and dime the appraiser...they used to call that a conspiracy

They're done with their steak and lobster meals now and they're at the bar with all that USPAP continuing education $$ knocking them back!

They'll be too hungover tomorrow to sign up any Independents looking for a way to increase their fees from $225 to $300....

 

[sputnam]

Um... No. For me, the cost / benefit ratio isn't favorable.

 

[Zoe]

You’re another one that argues just argue. There has to be a reason why none of them did it when AMC legislation was first written. It was unthinkable. AMC’s were tasked with managing a panel of fee appraisers. We used to be called partners. When’s the last time you heard that word?

Here’s the difference, I’ve seen first hand, up close and personal, the level of unethical behavior that they bring to the table. I’ve seen the sort of element they hire to do their bidding.

They all missed their calling, they would’ve made fantastic DC swamp creatures.

The thing that makes me so mad and should make Glenn mad is the original legislation was written for separation of appraisal management fees and appraisal fees on truth in lending disclosures and the legislation got changed at the last minute because it would be too confusing to borrowers. Cough..........cough............cough.

Just gag me...........gag me.

I would get kicked out. It is not a question if I would get kicked out.

These two gentleman will lead you out of this class sir. They will show you the exit.

Oh, Just more thing before I leave.............

 

[Zoe]

 

[Non Sequitur]

they are probably slobbering over each other while they devise new ways to nickel and dime the appraiser...they used to call that a conspiracy

All anyone has to do is look at the lineup and sessions. Take Lenders & Vendors as an example, not a single indie appraiser on stage, it's an AMC and tech company show. It's all about AMCs and tech companies networking, indie appraisers aren't even an after thought.

 

[Zoe]

All anyone has to do is look at the lineup and sessions. Take Lenders & Vendors as an example, not a single indie appraisers on stage, it's an AMC and tech company show. It's all about AMCs and tech companies networking, indie appraisers aren't even an after thought.

Your preaching to the choir. He knows it. He was in there with me and Marion and Evincere when we were wearing Ms. Trice out on this forum. I would be no different at this gala event and get kicked out.

I would have too many enemies that would say kick him out of here. We have rules for this event. He is breaking the rules.