FANNIE bonds with AMCs, over your dead low paid body.

[Zoe]

If one of these lawsuits related to commingling of fees sticks and gains ground with Federal regulators, it could change GSE plans.

That is like FTC has control over almost all trade in USA.

I think there is a lawsuit going on in California and maybe Florida. I know one is in CA and I was thinking another one is going in FL or some other State.

 

[Zoe]

Okay, you have to realize if commingling of fees becomes a legal issue relative to public trust, it would change everybody's plans relative to appraisal work and public trust.

If fees were separated on truth in lending disclosures was required, the whole market structure on appraisals would change for everybody involved with appraisals.

Even if you do no GSE work and only do commercial work, it would still change your market structure on appraisals.

The only way to get it changed is focus on public trust like that lawsuit going in California. Like appraisal fee disclosed to borrower is $1500 and licensed professional gets $300.

That is in conflict with public trust and other laws. There are consumer protection laws and other laws on the books.

 

[chad hampton]

The part that you seem to be missing is that "when an inspection was required" for a GSE appraisal, it was only required because the GSEs themselves required it. USPAP and state laws have always allowed an appraisal without a personal inspection by the appraiser. Appraisers who have been disciplined in the past for not inspecting were not sanctioned for not inspecting - they were sanctioned for lying about inspecting.

The thing that confuses me is that you often express opposition to appraisals where the data comes from a recent property visit by a third party, yet in another thread you stated that if someone was uncomfortable doing 2055s, have the client call you instead. Why are you perfectly fine with a 2055, but not a hybrid?

I’m not sure I ever said anything about a 2055 and a client calling me. I have no problems with the 2055, they serve a purpose. the only ones I’ve ever done have been for pre-foreclosure purposes. I certainly wouldn’t do one for a cash out refi. And they’re also not trying to mislead anybody into thinking it’s the equivalent of a full interior appraisal.

Obviously, Banks need to be able to get some sort of ballpark figure on their collateral that they have not foreclosed on yet when borrowers are obviously not going to let an appraiser into their house

It would be better if you just came out and said the real reason why hybrids were pushed on the profession 5+ years ago.

And now nobody can find an independent appraiser to do one so they’ve bent and outright broke the rules again by posting ads on LinkedIn, looking for staff appraisers to sit and do hybrids all day.

It’s OK to come out and say it’s been a failure

 

[DWiley]

I’m not sure I ever said anything about a 2055 and a client calling me. I have no problems with the 2055, they serve a purpose. the only ones I’ve ever done have been for pre-foreclosure purposes. I certainly wouldn’t do one for a cash out refi. And they’re also not trying to mislead anybody into thinking it’s the equivalent of a full interior appraisal.

Here is what you said

C

Post in thread 'Can I call owner on an exterior drive by?'

Feb 6, 2026

Anyone who declines a 2055, please ask your client to send them to me.

• chad hampton

• 

 

[alebrewer]

There was a minimal problem of appraisers being dishonest who marked did inspect with a trainee who did not inspect.

You're sure this was a minimal problem how?

 

[chad hampton]

Here is what you said

C

Post in thread 'Can I call owner on an exterior drive by?'

Feb 6, 2026

Anyone who declines a 2055, please ask your client to send them to me.

• chad hampton

• 

View attachment 107444

Sure, I don’t mind doing 2055 for a pre-foreclosure work. Isn’t that what I said?

 

[djd09]

edit...

 

[Zoe]

Sure, I don’t mind doing 2055 for a pre-foreclosure work. Isn’t that what I said?

Different. I like to go inside on liquidation but the owner is still there. Totally different situation and lender/client needs to have a ballpark figure before eviction/etc.

If client says call homeowner and this their number. Ask if they will let you do interior and exterior inspection, I have no problem calling homeowner and if homeowner says I would rather you drive by and look from street, I am like okay. I wish you well. Thank you for taking my call.

If owner don't answer my call (s), I do drive by. I still sometimes knock on door and have discussion with homeowner to make sure they don't want me to do interior inspection also.

If I can get homeowner on phone, I will ask extensive questions about interior. You have been there a long time. Can you tell what kind of work you have done? Is it in pretty good shape?

Sometimes owner will tell you. Nothing wrong with asking owner what they would ask for their property if they were going to put it on the market?

Asking owner what they would ask vs a lender setting the value or lender saying we need this value to make deal work? totally different animals.

 

[Sadie]

History has shown that anytime the GSEs and the banksters, and now AI, conspire, it has never been, and will never be for the purpose of advancing the interests of independent appraisers.

Its just one more step to the top of the mortgage appraisal profession gallows. But look on the bright side...maybe they'll use a new rope.

Or in the interest of public trust

 

[J Grant]

You're sure this was a minimal problem how?

From doing several hundred appraisal reviews -
And even if it was a problem, how does it excuse waivers with a lender writing in a value for the property that they estimate to make a deal work, or a non-appraiser doing a "data collection" when the appraiser is ready, willing, and able to do their own inspection?