Comp check request coming from AppraiserUSA

[Rudy Canoza]

Just think, Bob, your lovely grandchildren one day will compete in life against the spawn of that caller. Whheeeeee!

:Eyecrazy:

I fear it means that our lovely grandchildren will be subsidizing his spawn...

 

[Caterina Platt]

Oh I'm sure the comp checkers find me on other sites as well. Just last night, Chuck, myself and about 15 other local appraisers received this lovely:


Good Afternoon,
My name is Neida Herrera and I am a Loan Officer with Zip Loans Inc. I would like to know if you would be so kind as to see if you can give me a valuation in the ballpark of $145,000. If you can please respond to this email or call me at 310-702-2584 or work number provided below. I will be giving you the payment information upon confirmation of being able to give me that value. The property information goes as such;

Joe Scheblotnik
9028 Six Pack Way
Albuquerque NM 87121

Sincerely,


Neida herrera
Loan Officer
Zip Loans Inc.
800-649-5770 ext. 223

These requests are becoming more common all around, and honestly, my patience just ain't what it used to be. This one was about as blatant as I'd ever seen, and I could not hold myself back. Trolling for Skippy and she was even too dumb (or bold) to Blind CC the email.

In defense of AppraiserUSA.com, I do get some legitimate leads. One to two a month I'd say. It more than pays for itself.

 

[CANative]

I'll bet you a quarter she doesn't even know it's wrong. She just thinks that appraisers who say no or tell her it's wrong are just stubborn, mean or lazy.

**** poor phonemonkey training. She doesn't realize or care that she is playing around with peoples homes and life savings.

 

[Caterina Platt]

I'm sure you're correct. This is how I responded back. It happened to be in the wee hours of the morning when I checked my spamblocker messages, thus my 'I wasn't hitting the sauce tonight' comment.

First off, I'd like you to prepare a loan for me. I'm sending out my request to fifteen other lenders as well. Once you tell me how much I can borrow and the best interest rate and costs possible, I'll choose who I wish to do the loan with. Further, you won't get all my credit/income/employment specifics until I know my answer from you and everyone else. Do what you have to do. Fudge the 1003 if you have to, I don't care, just get me a big loan. I'll sign the docs with the most favorable terms, whoever brings it in.

The above scenario really shows not an ounce of respect for your time, efforts, or the job you do, does it? Folks like that would have you spinning your wheels all day long, jumping after a dangling carrot. Now, here's the kicker......your commission, it's not going to be more than say $300-400 per deal. And if the Feds find out there's a problem with documentation on the loan, I walk scott free. It's all in your lap when they come knocking at the door.

You see, when you ask an appraiser to accept an assignment in this fashion, it may not be illegal for you, but it most certainly is for the appraiser. We cannot accept terms of an assignment contingent on the outcome. The value is what it is.

I'm sorry if this answer is 'blunt', but it's about time appraisers took back the disinterested third party position to valuation assignments. And yes, I do realize I've hit 'reply all'. I recognize most of these email addresses. Some of my colleagues will laugh, some will think I'm a fruitloop wasting my time in this response, some may clap, and some may think I've been hitting the sauce tonight. No, actually up late sewing and made the mistake of walking in the office rather than past it.

Neyda, I wish you well on this loan. Most of all, I wish the borrower well. I hope that several years from now, he's not upside down on his home loan and one of us isn't going to be called out to do the repo appraisal. I hope that his house is truly worth $160K, and we all live happily ever after.

God bless you, but none of us need these kind of assignment terms. If your going to stay in this business for the long haul, I strongly suggest finding an ethical lending firm to teach you the business the right way. At the very least, if you're going to broadcast and troll for lap dog appraisers, it would be wise to learn to blind carbon copy your emails.

Caterina Platt
Preaching from her home office


I hit 'reply all' for a couple reasons. I noted at least two of the addresses were notorious Skippies and wanted to get a point across to them. I also wanted to let my colleagues know that appraisers out there are resisting this kind of crap. It's OK for you to do it too. Your competition is not all bowing to this pressure.

 

[Rudy Canoza]

Ms. Platt...I applaud you.

 

[CANative]

Good job Cat. Especially on the "reply all." LOL That ought to cause some of the appraisers on that list to think about the possibility that someone is watching them.

 

[Dee Dee]

woohoo woohoo woohoo woohoo

AWESOME JOB, CAT!

 

[Renee Healion]

Good work there Cat. I love how a late night sewing jag turns into a phonemonkey BBQ!

 

[Pamela Crowley (Florida)]

Fantastic Cat!!!!!

 

[DB]

I do hope you will post any response you get from her .... Luv ya Cat!