First In Series - Ivpi Q&a #1

[texaskeith]

Do you want fries with that? Housevalues.com as a review source...what's next the psychic review service..Dang that is just weird

 

[Mike Kennedy]

How and when do we need to become a member of the IVPI panel?

Brad ......please review the Original Thread. Thanks.

http://appraisersforum.com/showthread.php?t=136026

 

[Jonsey]

Kudos to the “Committee”. An issue, if you would consider to address in the next set of Q & A.

As long as “profit” is the motivation behind any enterprise there exists the possible breach of integrity via corruption. The supposed intention is to ward against corrupt practices. AMC conglomerates as established or not yet convened, those suggested to be the receiving point and distribution end of Lenders Appraisal orders cannot provide a viable alternative to existing problems.

They are “for profit” entities whose interests are vested. As “for profits” they must by virtue of purpose, continue to keep the Lenders appeased because of the “client" relationship. By the very nature and business premise of the entity, any bias will weigh in favor of the interests of the Lender.

The HVCC and IVPI proposal not yet resolved to conclusion, a result of the NY AG actions against Eappraisit in an attempt to combat coercion and lender pressure will be just one huge charade should the AMC process be encouraged or allowed to continue as it has in the past. And, it should be seen and analyzed for what it is....business as usual under a new guise.

 

[Workbox]

Who else is on the ball when getting back with appraiser with Q & A? The cream will rise.

 

[SANDY]

Jonsey:

That is why the IVPI proposal is for a non-profit corp. which theoretically removes the profit/greed component. As far as the other AMCs go and their profit/greed motives-I don't think there is any legal way to prevent for profit business entities to act in any other way but according to the bottom line. At the risk of getting into whole other ball of wax-the fact that much of the Worlds' business is conducted via the corporate entity structure is at the heart of many of the problems today-corporations have one over-riding goal which is to make as big a profit as possible. It would be naive to think they would asctually allow such altruistic concepts as ethics, fair play etc... to get in the way of goal number 1.

Now that's not to say that the non-profit structure doesn't have its own inherent or at least potential fatal flaws. One is just because an entity is non-profit does not make it immune to fatal flaws such as salries for Boards' of directors, executives etc.......

 

[Jonsey]

Jonsey:

That is why the IVPI proposal is for a non-profit corp. which theoretically removes the profit/greed component. As far as the other AMCs go and their profit/greed motives-I don't think there is any legal way to prevent for profit business entities to act in any other way but according to the bottom line.

Sandy -
The intellectual is one whose mind is well developed, is loaded with
facts, and can perform various mental operations easily and effectively.

The intelligent man is he who has the capacity to understand the
significance, the import of the knowledge he possesses, who has
distilled his knowledge and experience and obtained that subtle
essence which is known as wisdom. He can see things as they are. To
see things as they are is perhaps the most important characteristic of
intelligence.

All of us are familiar with people who are very intellectual, tenured, and among the Who's Who of our world, the appraisal business. Intellectual, but not intelligent. Who are constantly missing the real significance of
things and situations becaue profit IS as you say, the bottom line. They attempt to run our lives, dictate our businesse (models), are remarkable lessons on this difference between intellect and intelligence and show us the grim spectacle of what intellect can do when it is not permeated with intelligence.

Sub Prime Crisis.

And then there is just plain ol' stupidity......

 

[jakeboeger]

For some reason, I have a problem with all of my lender appraisal assignments coming from one source.

This just doesnt sit well with me.

Am I the only one??

 

[Kevin Mc]

That is fine.

As far as the other AMCs go and their profit/greed motives-I don't think there is any legal way to prevent for profit business entities to act in any other way but according to the bottom line. ..

just don't let the Lenders own them, period. It is a conflict of interest if the end result is true independence. As long as lenders have a financial stake in the AMCs my guess is it will be business as usual.

 

[Mike Kennedy]

For some reason, I have a problem with all of my lender appraisal assignments coming from one source.

This just doesnt sit well with me.

Am I the only one??

:icon_idea: Q&A Question 3.

Membership will afford ALL Independent Fee Panel Appraisers the opportunity to service the appraisal needs of thousands of Lenders and Mortgage Originators.​

 

[Ken B]

I'm a "for-profit" enterprise. Pretty much every other appraiser I know is a "for-profit" enterprise. How do you plan to fix that?

Oh, interesting link here about the integrity of non-profit organizations.

http://lawprofessors.typepad.com/nonprofit/2008/03/nonprofit-ceo-g.html