CNBC - Forsyth Appraisals?

[redfish]

'30% of all residential appraisers are incompetent.' Let's see the formula he used to arrive at that percentage. Then we'll talk about reconciliation.

You need to listen to the interview again. Alan said that the number of appraisers in the industry increased by 30% during the refi boom.

 

[Caligirl]

You need to listen to the interview again. Alan said that the number of appraisers in the industry increased by 30% during the refi boom.

Mr. Redfish, perhaps you need to listen to the interview again. Start at 2:03. The question is 'How many...just weren't competent' and Mr. Hummel responds with his 30% number. Did he misunderstand the question? The question I heard wasn't about how many newer appraisers have entered the business.

 

[Soapbox Kimmie]

I am not here to attack anyone.

To anyone who may know the answer to this question:

Do the names of all of the other people who have touched and contributed to these reports, appear anywhere in the addendum or otherwise????

It is my understanding that all people who contribute to the report and the development of the opinion of value, are to be expressly mentioned, otherwise it violates USPAP.

Is this correct???

I am not accusing anyone of wrongdoing, but I am just intersted in having a constructive dialogue.

I think that many on this forum, who have been insulted with the name calling like "dolts" and "whiners", are just simply angry over the fact that some appraisers (small and large) follow the rules (ie.) federal laws (to their own detriment), while other firms (large and small), seem to break all of the those rules in the name of productivity, and are rewarded with more work.

 

[FoxtrotTango]

Saint Paul appraiser chiming in.

Forsythe is based on Saint Paul, and over the years I have come across their appraisals in reviews, copies from my clients, etc., the usual sources. They are uniformly terrible, and as often as not are simply cooked. The general opinion among appraisers in the Twin Cities, at least those who have opposable thumbs, is that Forsythe is a joke.

 

[Soapbox Kimmie]

I find that interesting Tango....

What in your opinion makes them so terrible??? An overuse of canned statements, and boilerplate template??? Or just inaccurate valuations???

All of the above????

 

[josephdifranco]

Missed the point

I think the video/interview missed the point, the title was sky high appraisals. In his point of view, our profession has a few bad apples like any other and that more education is needed. Thats nice talk, but lame in terms of the real problem.

WHAT A HUGE MISSED OPPORTUNITY! Its mainly the mortgage industry that should have been examined, the pressure, the power they have to drop an appraiser and use a new, more cooperative one.

Hummel sounds like a great guy from all the posts, he made himself look good to his current clients, but he really struck out in this interview.

 

[PL1957]

I think the video/interview missed the point, the title was sky high appraisals. In his point of view, our profession has a few bad apples like any other and that more education is needed. Thats nice talk, but lame in terms of the real problem.

WHAT A HUGE MISSED OPPORTUNITY! Its mainly the mortgage industry that should have been examined, the pressure, the power they have to drop an appraiser and use a new, more cooperative one.

Hummel sounds like a great guy from all the posts, he made himself look good to his current clients, but he really struck out in this interview.

The problem with interviews, whether they're print or audio, is that the interviewee has no control over what will be presented. Without seeing the full transcript, it's unfair to judge Alan Hummel's performance. Writers/editors have a tendency to leave in the parts that support their story line and discard anything that is inconvenient.

 

[Pamela Crowley (Florida)]

The problem with interviews, whether they're print or audio, is that the interviewee has no control over what will be presented. Without seeing the full transcript, it's unfair to judge Alan Hummel's performance. Writers/editors have a tendency to leave in the parts that support their story line and discard anything that is inconvenient.

That is so very true! You never know what kind of spin the media can put on something until you see the edited version vs the complete interview.

 

[Caligirl]

The problem with interviews, whether they're print or audio, is that the interviewee has no control over what will be presented. Without seeing the full transcript, it's unfair to judge Alan Hummel's performance. Writers/editors have a tendency to leave in the parts that support their story line and discard anything that is inconvenient.

One thing I appreciated about Pam's interview is that *she showed up with documentation* to back up her claims.

Pam is, after all, a professional appraiser.