Appraisal Intelligence - WOW!!

[Larry Lyke]

Karl --

I've seen fraud. But that isn't minor cloning issues or arithmetic problems. Nor mere incompetency.

Fraud is stuff like conjured comps, better neighborhoods used -- you know, the false stuff made up by the appraiser. Photos of better houses that don't match the comps used. AND done repeatedly to illegally cheat investors.

Most often a complaint is sent out by the state for an independent review by a thoroughly vetted appraiser who is "blameless and without taint" to give her formal opinion, from which the state can decide how to proceed.

The fact that an appraiser is having a hearing is almost a foregone conclusion that something interesting and worth pursuing regarding the appraiser's behavior turned up.

Otherwise, they could call you on the telephone and ask you to acquiesence and accept punishment of a couple of study courses and send them a couple hundred dollars for their time and trouble.

However, I would imagine that this simple punishment would still appear on your record for the E&O people and HUD to read.

 

[Tom Hildebrandt]

Larry

Although I understand why you say what you said, I must state that I find it troublesome.

My case is a classic example of why you should never assume someone is guilty just because he has a hearing. Boards and their investigators, including a fully vetted and unbiased and independent investigator, can still get things horribly wrong.

I am now in the process of "trying" my opinion in a court of law for the third time. In the two times where the finder of fact (jury in one instance and judge in the other) was not biased, both say Hildebrandt got it right.

But in front of the NCAB, which has 5 members known to be biased (and you must think the others are somehow tainted but it just can not be proven) , all of a sudden my experts are biased, have no experience, are just misinformed, and the states experts become all knowing and onmniscient. To our board, these guys who can not properly define condemnation blight, and failed to investigate the property history, and who did not verify any of the subject or comparable sales characteristics, these guys are the cream of the appraisal profession, and their word, unsupported by any analysis or text, is to be accepted without question.

Regards

Tom Hildebrandt GAA

 

[Larry Lyke]

Tom --

Yes, I do feel sorry for your situation.

However, I was addressing Karl's post in a general way. That fraud per se is determined illegality designed to cheat an investor, usually of a repetitious nature, and for the monetary benefit of someone or a group.

 

[Tom Hildebrandt]

Larry

I agree that the fraud issue is the big one, it is the intent to mislead is what our board should be after, not jsut a disagreemnt about adjsutments.

Regards

Tom Hildebrandt GAA