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Dear Pam (my hero).

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hovious

Thread Starter
Sophomore Member
Joined
Mar 14, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Good afternoon Pam. Just wanted to let you know that I have been a freuqent visitor to your site the last few days as, or so it appears, the comp checks, look ups, etc..have REALLY begun to pick up again. I was SO hopeful that, given the state of this market, that this type of activity would slowly disappear. Guess I was wrong.

Just today alone, I have received 4 or 5 comp checks, look ups, etc..I have reported all of this activity on your site. Are we EVER going to see the end of this fradulent activity? Do you receive any feedback from regulators or any "powers that be people" that even do anything about this?

I, in an attempt to be professional with these criminals, try to educate them (as we probably all have in the past). Sometimes I am surprised that my efforts do bear fruit but, more times than not, it falls on deaf ears.

This is one appraiser who will continue to "fight the good fight".
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Thank you. :blush:

What is needed to make it work the way it is supposed to, is for more appraisers and other real estate professionals to do what you did today, report all suspicious activity, including all comp checks that you cannot turn into a legal appraisal order.

I will not get postable evidence of how this is working for the law enforcement, regulators, and QC/Fraud dept personnel of lenders and GSEs. Every once in a while one will tell me about a case that started from a report on my website, or from one of the emails that were sent prior to the website, but it does not include a reference to a name or address. I have been told that whole fraud rings have been indicted, prosecuted, and convicted from a lead through what you all have sent me to pass along. I can only wish for more specifics, but don't expect it. Nobody wants to name the names or be named themself.
 

toddmallard

Junior Member
Joined
Oct 4, 2007
Professional Status
Certified Residential Appraiser
State
Georgia
Hov:
They are not criminals. They are not bound by USPAP. They unfortuatly are doing nothing wrong in their world.

Also, there is nothing in USPAP, that does not allow "comp checks" Its a free appraisal done for a person as long as a workfile is created. its the scope of work in this appraisal that also differs from other type of appraisals. We have beaten this to death in the past on this site, and as long as the guideline are not set in stone, and the reading of these guidelines are interprited differently by different people, we will alwys be bickering over it.
 
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hovious

Thread Starter
Sophomore Member
Joined
Mar 14, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Todd, you make a valid point. However, when I explain to them why certain things CANNOT be done but THEY insist anyway!? To me Todd, that is a criminal...
 

toddmallard

Junior Member
Joined
Oct 4, 2007
Professional Status
Certified Residential Appraiser
State
Georgia
Criminal "No"
being an *** Hole "YES"
 

hovious

Thread Starter
Sophomore Member
Joined
Mar 14, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Calling these people A$$holes is being WAY too kind in my book. I have a plethora of other explitives that I would love to contribute but it would require me to talk the way I did when I was a punk teenager (or about 30 years ago)!
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
...Are we EVER going to see the end of this fradulent activity?...

The answer to your question:

Yes!

Just as soon as ANYONE with a financial interest in the outcome of the appraisal is removed from having any contact with the appraiser, or, being in a position to exercise control over the selection and retention of the appraiser.
 

Hal Mann

Senior Member
Joined
Jan 19, 2005
Professional Status
Certified General Appraiser
State
New York
Just A Technicality

Hov:
They are not criminals. They are not bound by USPAP. They unfortuatly are doing nothing wrong in their world.

Also, there is nothing in USPAP, that does not allow "comp checks" Its a free appraisal done for a person as long as a workfile is created. its the scope of work in this appraisal that also differs from other type of appraisals. We have beaten this to death in the past on this site, and as long as the guideline are not set in stone, and the reading of these guidelines are interprited differently by different people, we will alwys be bickering over it.
Just because it is not a USPAP violation for a potential client to value-shop does not mean it is legal. Fraud is illegal irregardless of USPAP applicability. And that it is never enforced doesn't make it any less illegal, either...

And, yes, despite the fact that "irregardless" is inherently redundant, it is a word
 

Patti Jury

Senior Member
Joined
Mar 23, 2002
Professional Status
Licensed Appraiser
State
Colorado
Hal,

You are correct. I am still cranky and frankly ANGRY about turning over an LO who broadcasted a comp request here in Colorado Springs.

I turned it over to my State and they claimed no wrong doing as per the LO's position. But if I were to define market value prior to order or inspection...
BOY HOWDY...would I be in Deep S**t.

And this comes after the "New Tough Stance" my State claims they are taking....

Yeah ...KMA!
 
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