David vs Goliath

[George Hatch]

No matter what, cutting the loan salesmen out of the appraisal loop was long overdue.

Your former clients had no legitimate business even touching the appraisal engagement and you (and I) should never have come up in an MB-dominated market environment. They aren't lenders, it isn't their money and it isn't their decision to make. The role of appraiser is more closely aligned with the underwriting process than the origination process and not one of you characters can argue otherwise.

Your loyalties SHOULD be to maintaining your own license and professional credibility, and not to chasing individual fees at a dozen different boilerroom operations.

 

[glenn walker]

No matter what, cutting the loan salesmen out of the appraisal loop was long overdue.

Your former clients had no legitimate business even touching the appraisal engagement and you (and I) should never have come up in an MB-dominated market environment. They aren't lenders, it isn't their money and it isn't their decision to make. The role of appraiser is more closely aligned with the underwriting process than the origination process and not one of you characters can argue otherwise.

Your loyalties SHOULD be to maintaining your own license and professional credibility, and not to chasing individual fees at a dozen different boilerroom operations.

Now they chase multiple AMCs which is worse than the MB model. The fact is none of it was a positive for independent fee appraisers and most never made good money after Dodd Frank became fully operational. The business model for most is broken and never coming back.

 

[djd09]

No matter what, cutting the loan salesmen out of the appraisal loop was long overdue.

its better now...the mortgage broker appraiser inserts the value and DW okays it @fastapp

 

[djd09]

it is a good thing they cut the mortgage broker out of the loop...

 

[glenn walker]

Appraisers don't make prices they just approve them. Adding on positive time adjustments pushes them up faster and in a hard down market negative time adjustments drives prices down more and faster. The truth is appraisers help distort market prices not stabilize them.

That's why AVM and Waivers along with AI will replace most within 5 years. The only safe survival are rural and complex.

 

[djd09]

....

 

[George Hatch]

Don't you have some "fight" to be doing somewhere? Some exercise of resistance and rebellion to foment? Some act of warfare that will bring these lenders to their knees and force them to turn on the MB-select machine again? If so, you should get to getting.

 

[glenn walker]

View attachment 101197....

Just open an AMC and make some easy money while hiring only honest and ethical appraisers. That solves a big problem by giving people work. Then keep your costs low so you don't have to take a lot off the top. The same with Chad quit those 3 other side gigs and open a small AMC and grow it.

 

[chad hampton]

3 side gigs Aren’t you in the mtg/lending business? That’s the ultimate gig job were people with minimal education and have failed at everything else end up stumbling into.

You missed the point of the free education I’m giving you.

Of course, you’re the one that’s hangs out on a message board for a profession that apparently aren’t even involved in

 

[jay trotta]

there should be two appraisals for every purchase...one for the unethical stakeholders and one for the borrowers...and a third party can decide which is more credible

Many years back when they decided to "modernize" forms, I think I mentioned something about the ERC format which would solve many problems they are still trying to cure today. (2) Appraisals to start a transaction and a third if necessary.
This practice would require one to hone their skills and be within a 4/5% differential before obtaining a third report. When I was involved in those, I was hired for many as a "third guy in" and they would require a review of the prior reports to note any disparity. Always felt it was a better solution, a bit more expensive, but contained everything needed, including self-monitoring appraisers, in which when to many conflicts/reliabilities with an appraiser, they would not get work and/or be required "up" their game before being brought back.