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Appraiser Groups Want Congressional Investigations

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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
That'll do as much good as complaining about FHA lending $140,000 on an $80,000 moble and getting them to do anything. There haven't been enough foreclosures yet.

Roger
 

Brad Pack

Junior Member
Joined
Jan 15, 2002
Professional Status
General Public
State
California
RStrahan-

FHA does not "lend" money, they insure mortgages. What can't you get FHA to "do"?
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
Did ya'll read who's asking for the congressional hearings? Some pretty heavy hitters if you ask me! This is long overdue and I for one would welcome open hearings (got my fingers crossed).

-Mike
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
I'm sorry but I just can't get behind another appraiser witch hunt. As appraisers, we are 1) TOLD what value we SHOULD "come in" at. 2) Coerced to provide inflated values in order to "make the deal work" 3) Not hired again if we don't "cooperate. It's time to relieve some of the pressure on our profession.
 

Ghost Rider

Senior Member
Joined
Apr 27, 2003
Professional Status
Banking/Mortgage Industry
State
Connecticut
As I read this, the biggest problem they have is with problems with the appraisal boards from the various states, and that they don't do enough to weed out the bad appraisers. Well, they are right, no one does anything to get rid of the bad appraisers out there - for every story you tell me of an appraiser who lost their license, I can introduce you to 10 in my area who will hit any number any time.

How about we try to fix the problem by actually setting up a licensure process for the ones who pressure the appraisers on a daily basis?? The loan officers and lending institutions who decide where every appraisal order used to fund a loan today goes.....These snake oil salesmen (if you need me to define that, think of the sleaziest used car salesman you have ever met, and multiply it by 10, and you have it) are the ones who only care about closing their loans, and getting their comission. "That appraisal didn't come in?? Tear up his invoice, throw the report in the trash, remove him from our approved list, and order it from Bob Jones(insert your local number hitters name here), he'll make it happen!!!!!!"

VA might have it right with their appraiser selection process, but there are those rumors floating of that ending.....FHA has it's lender select program, and conventional loans go to any ******* with a license these days. Why do lenders want to go to AVMs?? Simple, they don't trust appraisers BECAUSE of the way they set up the game - lenders make NOTHING when the loans don't close, so what to do - order the aprpaisal with an appraiser or appraisal company where you know you have the best chance of closing the loan they are working on.

I play by the rules - I won't put my certification on the line for anyone, anytime, and it has cost me work in the past, and I'm sure it will cost me work in the future.....but ya know what, I make a very good living, and 99% of the time, I'm damn proud of the report I send out to the lender (we all get those oddballs where there is no such thing as a great comp, just one ok one, and 2 crappy ones) and know I earn every penny I make.

If the state appraisal boards are going to be pressured to look at their complaints, GOOD!!!!! As far as I know, the only complaint I ever had was an informal one, which isn't even in my record, where a borrower got mad because I wouldn't answer or return his phone calls and increase the appraised value for his home. I think the board ended up not answering his phone calls either. Maybe then we can get rid of some of the crappy appraisers working in the market, but to be honest, I won't hold my breath.
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
How about we try to fix the problem by actually setting up a licensure process for the ones who pressure the appraisers on a daily basis?? The loan officers and lending institutions who decide where every appraisal order used to fund a loan today goes.....These snake oil salesmen (if you need me to define that, think of the sleaziest used car salesman you have ever met, and multiply it by 10, and you have it) are the ones who only care about closing their loans, and getting their comission. "That appraisal didn't come in?? Tear up his invoice, throw the report in the trash, remove him from our approved list, and order it from Bob Jones(insert your local number hitters name here), he'll make it happen!!!!!!"

I'll drink to that! :beer:
 

Ron Schwartz

Junior Member
Joined
Dec 11, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I am so sick and tired about hearing how we have to weed the bad appraisers out and the ever changing rules and regulations. We have prayed for the last 30 years to be as busy as we are and now, instead of us being happy for working 10-15 hours a day and having the ability to make alot of money in a few short years, all we hear are the insults and threats from other groups. The rules keep changing and current laws never have enough time to demonstrate if they work. Yesterday I went to do a condo appraisal and was asked about my education, as the seller was told by their broker that most appraisers dont know what they are doing and all you have to do is take one short course and WELLA your an appraiser.

Realtors and Mortgage Brokers dont talk like us. In a matter of hours Mortgage and Realtor Associations can mobilize thousands of their memebers to unite as a force to change and create legislation on the state and federal level. All they do is make our lives miserable and blame us for there corrupt business practices. We are always the necessary evils in the fight to close a loan. We pay hundreds of dollars a year to be a member of an Appraisal Association for absoloutly nothing, except a newsletter scaring us half to death that are livelihoods will be taken away. Most appraisers that I have been affiliated with over the years are moral and ethical people that constantly have to fight with the other so called professions to protect the interests of our clients.
 
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