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David Bunton Talks To Phil Crawford

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Restrain

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Voice crying in the wilderness. AQB is saying we need to redo the requirements for being an appraiser while the lending industry is moving to AVMs for the bulk of valuation processes. AQB and AF is ignoring the elephant in the room.
 

djd09

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You know a lot of people capitalize on the NFL to make money but do you think the NFL allows the users to help write the rules.

Very disappointing Phil.
 

djd09

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Funny how appraisers are so untrustworthy to be paid on a percentage but the for profit IAC members are good enough to help write our standards and charge based on whatever they feel percentage, hourly, ect.

Is Mr. Bunton an appraiser?
 
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Elliott

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HardyBoys.jpg
 

DWiley

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Tennessee
Funny how appraisers are so untrustworthy to be paid on a percentage but the for profit IAC members are good enough to help write our standards and charge based on whatever they feel percentage, hourly, ect.

Is Mr. Bunton an appraiser?
The only IAC members who have "helped write our standards" are the ones who previously served on the ASB :)
 

Elliott

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Dan,
Where do you think the residential appraisal industry will be in 5 years? With the relaxing of entry standards and Fannie "clarifying" inspections, do you think the AMCs, Lenders, and State Boards will follow suit and allow a certified residential appraiser to sign off on reports that are done by trainees and be acceptable to Fannie? Is this what the Stakeholders are looking toward, with the expectation of lower fees and quicker turn times? Or are they looking for something else?
 

DWiley

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Dan,
..do you think the AMCs, Lenders, and State Boards will follow suit and allow a certified residential appraiser to sign off on reports that are done by trainees and be acceptable to Fannie?

With the exception of a lot of lenders, the people you list already allow that. The Fannie "announcement" is not new policy. That has long been their policy. With the massive over supply of appraisers that lasted almost a decade, lenders could restrict trainee work and still get the service they desire. Now that the supply/demand curve for appraisal services is shifting, I suspect we will see lenders changing policies. Some have already done so.

Fee pressure is nowhere near what it was not long ago. The pressure now is on service. In my view, the smart business model right is to accept only what can be delivered quickly, and then always deliver it on time. Some are not secure in doing that - it seems that many have the mentality that their last order may have been, literally, their last order. So, they stockpile orders and sacrifice service. The smart play is to not do that. Right now, being considered a reliable appraiser who provides good service is what will secure work. Taking every order that walks in the door, and then never meeting turn time goals is not a good business model.
 
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@DWiley

Agree 100%. My model is on time, every time. This means choosing what to take in.

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djd09

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The only IAC members who have "helped write our standards" are the ones who previously served on the ASB

Who was the author of assignment conditions?
 
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