Appraisal Institute Controversy

[Non Sequitur]

 

[George Hatch]

Has anyone seen an explanation from Ms Chance for why she was fired? Are we sure that she even knows for certain what the reason is?

 

[Non Sequitur]

Has anyone seen an explanation from Ms Chance for why she was fired? Are we sure that she even knows for certain what the reason is?

Per her Housingwire interview there was “no specific feedback” prior to termination.

 

[George Hatch]

So if even she isn't certain of the reason then how can anyone else (except for those who made the decision) be more well informed?

If we don't actually know then how about we let the situation set for a couple days before committing to a position? The facts will come out at some point.

 

[RCA]

On Glassdoor.com, there are plenty of negative comments from employees at AI. In particular there plenty of recent negative comments about Cindy Chance.

Here is the most recent:

"CEO Chance has put the Appraisal Institute’s staff through the shredder since she started in September. Change was needed, absolutely, but CEO Chance instituted a culture of fear. She has been absent, distant, and belittling to staff since the day she started. Our annual reviews required us to let her know how much we wanted to be part of her “high performance team.”

She hasnt made effort to connect with staff, while repeatedly telling us that our jobs are at risk and she’s let go of 16 people in less than four months. They said she wouldn’t even make eye contact while she let them go.

Do not apply here while she is still in charge. You will regret it. We all regret it and we’re hoping our Board will step in soon.

Advice to Management

I hope the end of Phase II of CEO Chance’s restructure will return us to a healthy work environment. Her promise to dictate goals that are “monitored throughout the work week” where any failures will be “managed” isn’t promising. I think we should give her a chance as a leader, but we as staff need someone in our corner. We don’t have an advocate anymore. Our managers are too fearful for their own jobs to speak up, or they’re left in the dark altogether."

MY TAKE:

Cindy has a Ph.D. in Philosophy. She may be been maintaining a good political stance with respect to residential appraisers. But that probably was just her playing politics.

What we need is somebody with a Ph.D in Data Mining, Statistics and Computer Science (from a top tier university) - with an MAI and SRA. .... Yea, of course DREAM ON!

Actually, I think we could get by with a BA in Math/Statistics (from a top tier university department), a good skill set in R/Python programming and MAI/SRA designations and all that that entails (i.e. a good base understanding or real estate, appraisal, regulations and standards).

 

[Non Sequitur]

So if even she isn't certain of the reason then how can anyone else (except for those who made the decision) be more well informed?

If we don't actually know then how about we let the situation set for a couple days before committing to a position? The facts will come out at some point.

Let it set for a couple of days for supposed facts to come out? This happened because we were waiting for the facts to come out. Here’s a couple of facts: When members noticed Cindy’s absence we were told (I’m a member) nothing was up and that Cindy was on hiatus. Then when news broke of an impending board meeting and vote to fire Cindy we were told this was a false rumor. Turns out that the coup was planned weeks ago, and they are already hiding behind the “we can’t disclose, it’s a personnel issue” which is old English for “suck it, we’re not saying crap and y’all can’t make us.”

 

[djd09]

Provided they are truly in the value range.

it is all rigged...too high number hitter...too low racist...beebop...youcannotwin...beebop

 

[RCA]

The entire appraisal industry is without competent personnel schooled and experienced in the necessary disciplines.

That's why is dying. It will be replaced sooner or later. You can't find anyone with good credentials to lead any appraisal organization into this new world of AI.

No solution for the time being.

 

[Surf Cat]

Yes, but if you are wanting to "hit a number" then just pull 3 sales that are bigger better newer. I used to see it all the time in reports when I did see them occasionally.
Need $150k? But the house is $120k house? Pull 3 superior comps and call them 'inferior, equal, and superior' - works every time. Use Q2 for Q3 houses. You can bracket anything but 'tweaking' it upwards is no biggie for Skippy.

Yeah.....I've seen those reports too. Why even become an appraiser if that's the path you're going to go down though? It defeats the whole purpose of what we do.

 

[Tiffany Gibbons]

The vast majority of consumers don't self-fund their mortgage loans....
So why shop around....

You don't compare different interest rates, compare closing costs, different mortgage len

The spin is starting. His post is very similar to several that are popping up across social media characterizing Dr. Chance as a disgruntled employee. For shame.

Seems like defamation that would hurt her career. I wonder if EEOC would help. A forced resignation is only so the company doesn't have to pay any benefits in corporate or government.