Double Check Those Listing Prices!

[Chris Colston]

I'd be very interested in the what the HUD-1 stated at the closing. Who were the checks written to at funding? Seems to me the title company holds some of the responsibility too.

 

[Francois K. Gregoire]

I'd be very interested in the what the HUD-1 stated at the closing. Who were the checks written to at funding? Seems to me the title company holds some of the responsibility too.

Chris,

In the paper, part of the HUD-1(s) was reproduced. It was for a transaction with two HUD-1's. This type of transaction cannot be accomplished without someone in the title company being in on the deal.

 

[Mr Rex]

Does FL require attorney to close? What about closing attorney?

 

[Tim Hicks (Texas)]

Tim there were no clean hands in this mess. Do you honestly think any of the real estate agents, LO's & MB's, titles co's, buyers and sellers didn't known something stunk? I call B.S. on anyone involved who claims ignorance. Each participant was greedy and justified the crooked dealings in their own minds by claiming they were just looking out for their own or their clients interest. And others jusitified it since they didn't directly participate in Ms. Molens fraud.

And FTR, there's plenty mortgage fraud where the appraisal is air tight. I have no problem with bad appraiser's getting their just due, but I will also demand the rest of the real estate industry, and sellers who were unjustly enriched by obvious real estate schemes take some medicine too.

I don't care who else is involved. We are appraisers. We are supposed to be a part of the checks and balances of the mortgage industry. I don't care how filthy, dirty anybody else is. I care there are filthy, dirty appraisers and we need to rid our industry of them. We have to clean our own house before we try to clean somebody else's.

I am tired of blame game of blaming everyone else. There would be no lender pressure if we did not allow it. There would be less appraisal fraud if we did not allow it. Blaming everyone else is a cop out.

 

[Couch Potato]

Not required.

Does FL require attorney to close? What about closing attorney?

Like most states, FL does not require an attorney conduct closings.

 

[Bob Ipock]

I don't care who else is involved. We are appraisers. We are supposed to be a part of the checks and balances of the mortgage industry. I don't care how filthy, dirty anybody else is. I care there are filthy, dirty appraisers and we need to rid our industry of them. We have to clean our own house before we try to clean somebody else's.

I am tired of blame game of blaming everyone else. There would be no lender pressure if we did not allow it. There would be less appraisal fraud if we did not allow it. Blaming everyone else is a cop out.

(posted by Tim Hicks 10/22/2006)


I will ask again:

Who is responsible for the investigations, hearings and disciplinary action for trainees, licenesed and certified appraisers?

What good does it do to FINE $$$$$$ a dishonest or unethical appraiser?

 

[Francois K. Gregoire]

(posted by Tim Hicks 10/22/2006)I will ask again:

Who is responsible for the investigations, hearings and disciplinary action for trainees, licenesed and certified appraisers?

What good does it do to FINE $$$$$$ a dishonest or unethical appraiser?

Yo Bob,

Do you have the name of the appraiser involved? Any evidence he/she has ever had a complaint filed against them? Any evidence he/she has ever been sanctioned (in any way) by the Florida Real Estate Appraisal Board?

To answer your question, fines are an appropriate penalty for certain violations of the license law in Florida. At times, fines combined with other penalties are appropriate. The Florida Legislature has made that determination and their decision has been upheld by Florida Courts.

Making the determination that an appraiser is, in fact, dishonest or unethical is often the rub. In my experience some are, some are dumb, some are incompetent and others are just plain naive. By what standard would you judge?

 

[Bob Ipock]

Frank...I have no interest in going back and forth with you. My statement had nothing to do with any particular or specific appraiser at all.

I too am tired of people wanting to shift the blame from appraisers to others. That included appraisal boards that refuse to take the blame for years of inaction and failures. Fines, probation and other limp-wristed actions have failed to slow down the flow of appraisal fraud, incompetence and dishonesty.


I don't believe that you, Florida or the FREAB has anything to brag about or hold out as a positive example. Your way of doing things does not seem to be getting the job done. The ASC appears to agree.

http://www.ASC.gov/Content/category5/page3.aspx?id=74

 

[Francois K. Gregoire]

Frank...I have no interest in going back and forth with you. My statement had nothing to do with any particular or specific appraiser at all.

I too am tired of people wanting to shift the blame from appraisers to others. That included appraisal boards that refuse to take the blame for years of inaction and failures. Fines, probation and other limp-wristed actions have failed to slow down the flow of appraisal fraud, incompetence and dishonesty.


I don't believe that you, Florida or the FREAB has anything to brag about or hold out as a positive example. Your way of doing things does not seem to be getting the job done. The ASC appears to agree.

http://www.ASC.gov/Content/category5/page3.aspx?id=74

Bob,

As I understand conversation, debate and discussion, when a question is posed, it invites an answer. You presented a query, a response was offered. My mistake in making the assumption you referenced the appraiser discussed in the article which is the basis for this thread.

Due to your inference, I've read and re-read my response. Maybe you can point out any boast?

Contrary to your belief, the Florida Real Estate Appraisal Board has much to be proud of and plenty to offer as positive examples. It's expected even more will be apparent in the near future. All are the result of a hard working, committed group of individuals and staff more interested in results than whining and slinging arrows.

My offer to you to attend the next meeting of the FREAB is still open.

 

[Non Sequitur]

I don't care who else is involved.

And that's sad. Some very old legal and moral principals are of the opinion that all parties to an action are responsible; the get away driver is equally responsible for the dead bank teller. If I'm the the tellers widow I'm all for nailing the driver, but the others have to be charged too.

We are supposed to be a part of the checks and balances of the mortgage industry.

Other than offering an unbiased opinion of value on real property, what "checks and balances"? You make it seem that we are more a part of the process than we actually are. If I'm of the opinion that a certian property is worth $200,000, the lender can lend anything they want, $10 or $300,000. I couldn't care less, it's not my goal to tell my client what to do or not to do. Good lending policies will over come a bad appraisal most any day.

We have to clean our own house before we try to clean somebody else's.

I don't want to be involved in cleaning someone else's house, and have never said so. What I have said time after time is that there are no clean hands, which is a well grounded legal doctrine: The concept in equity that claimants who seek equitable relief must not themselves have indulged in any impropriety in relation to the transaction upon which relief is sought. A party with "unclean hands" cannot ask a court of conscience to come to his aid.

I am tired of blame game of blaming everyone else. There would be no lender pressure if we did not allow it. There would be less appraisal fraud if we did not allow it. Blaming everyone else is a cop out.

I too am tired of people wanting to shift the blame from appraisers to others.

Post a few cites. I'd like to see who on this board holds the opinion that appraisers are coping out, blaming others for fraud, and want to shift the blame to others.

One repeated theme I've come across is to blame appraisers for every fraudulant deal (see below) thus relieving LO's, MB's, RE agents, buyers who let their names be used for straw purchases, sellers who give money back under the table, title co's that over look double closings, prepare false HUD's etc., the mortgage industry giants who turn a blind eye to the mess, the list could go on ad finitum. And you guy's think appraisers are the gate keepers that could stop all of this, or should? It's not a job I want. I'll stick to producing credible appraisal reports.

Just remember, it takes an appraiser to play ball to make these things work.