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Appraisal industry in disarray

  • Thread starter Thread starter casper
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"No wonder why AVM's and BPO's have taken a foothold in the industry."

AVM's--Casper--are only as good as the data being entered into their data bases, and unfortunately, many of them are being fed their information by sweatshop appraiser's. As for the BPO's--I'm a real estate agent & I can assure you the highest producing agents (most profitable) ARE NOT doing BPO work.

"I believe the industry will lose most of the mortgage work."

I believe you might be correct, but this is due in large part to the consumer...this is what they want--the appraiser out of the picture. Additionally, many of these AMC's were started as a way to get a chunk of the appraiser's pie. The Big Whigs saw the amount they were paying appraisers, and set out to get a piece of it back...they've succeeded in that respect, but they've also succeeded in watering down the profession (ya get what ya pay for).

I agree a lot with what you've written, but feel a great deal of the problems facing the industry is a planned onslaught on the appraisal profession by their mortgage clients. I won't be digging ditches anytime soon, and cringe at the thought of having to ever do mortgage work again...until something is done to change these recent injustices, and I'm allowed to do my job again...without undue influence.

I understand why you feel the way you do, and believe that at least SOME of your anger is misplaced.

-Mike
 
I see that casper's name is in red fonts and is listed as unregistered. Wazzup widat?
 
Have to agree with Mr. Hatch on this one.. Real Names only!

If you have a problem with the industry than stand up proudly..and be counted.
Have little respect for those who DON'T stand up for what they believe...
If you have a problem with the industry than it does start with you!

I can name about 5,000 I find wrong at current..My biggest gripe is lack of discipline on a State Level, funding for our State Boards, the USPAP issue..in general and
the lack of any supervision for LO's, Lenders and Brokers. Seems the first person that gets blamed in the whole current mess is the Appraiser.. and usually only then it is the honest appraisers.

The Number "hitters" are held on a pedistal and actually called "good".

This month alone I have done several reviews that made me even get sick..
I am finding it interesting however how many "retro" reviews have come in lately from 2000 and 2001. Me thinks that maybe..just maybe.. the time has come for the "number hitters". The current refinance boom just might be proving that a purchase or refi of 2-3 years ago is NOT producing any increase in market value but just the reverse.. a drastic decrease on market value. :fiddle:
 
I bet you he/she doesn't show it's face here again.

I heard the same thing 15 years ago.

-casper-

answer these posts, are you just a Troll?

Rich
 
Casper started this thread over 2 years ago and it was recently dug up. I doubt if Casper the friendly ghost is still lurking, He’s most likely out digging ditches in his spare time.

Just in case I have called ghost busters. What is with his attitude that causes him to actively beg for enslavement.
 
Don't reply much because I hunt and peck so its slow going but this caught my eye. I have dealt with plenty of lenders over the years and have found that they perceive appraisers to be similar to what this guy is talking about. When I am in CE classes it is amazing to me how little other appraisers know. However I find this group to be far more knowledgable than the average appraiser. In the last month I have had 4 reviews 2 were marginally ok and 2 were clear number hits that I rejected and the values were $185000 theirs $162000 mine the next which I will prepare in the next day will be $225000 theirs about $200000 mine. It was 2 different firms. The 1st one at 185000 was an FHA purchase loan with a 177000 1st.
 
We've given Casper enough to respond to.

I hate to tell you Casper, there were number hitters
30 years ago when I started in this profession.

I agree with Casper that the Skippy's are training
more Skippy's. I have clients who want a good
appraisal, cause they know the costs associated
with a poor appraisal (maybe not on one loan, but
a certain number of properties are going to go into
foreclosure).

Appraiser's were gods after the S&L bailout. That
status went away with national licensing...too many
big banks got in their and water down the standards.
(If you can't push around an appraiser who you goin
to push around to get the loan?)

Casper is what is known as a flame thrower. Your
turn Casper. ;)

elliott
 
I really, REALLY missed you tina. Hope you remembered to buy only in reds.
 
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