First In Series - Ivpi Q&a #1

[Imp8012]

I believe the proposed contains many solutions or at least improvements to inherent problems within the current system and also appauld the efforts of those involved. I however refuse to believe that the removal of the basic american dream of an open marketplace and the opportunity to strive, grow and develop your business as part of the plan, ridiculous. In order to stop appraiser coercion between lenders and appraisers, resulting in inflated values a gse is now going to do so. The definition of coercion as follows from dictionary.com

1.the act of coercing; use of force or intimidation to obtain compliance. 2.force or the power to use force in gaining compliance, as by a government or police force.
Reading that proposed translates to me as just another form of coercion, however this form will be backed and influenced by those with much more power than the guy on the corner whose barking for a value. If the proposed tanslates to rotational system of ordering, they control your work flow, they collect and disberse payment tanslates into they control and monitor your pay, and all assigments are stored within their database, they now have access to the majority, if not all your reports all in one place easily accessible and to with as they choose. If I walked into your office today with a title and an important looking badge, asked to sit down go thru your files, your accounting and then determine your work flow and opportunities for future growth youd tell me to hit the bricks and slam the door - and youd be right. Improving the profession should not require us to stagnate our dreams, our careers and our futures. With our collective voice and our knowledge, can we not come up with resolution that sets the bar higher and protects the amercian dream as well. Accepting anything less would be an injustice to all of us involved. You may not live the american dream however today you have the right to pursue it within this field. To not protect that dream is wasteful and ungracious. Can we find a better solution? I look forward to improvement in the system however doing so at the cost of free trade frankly stricks me as absurd and Im amazed at how many dont appear to mind.

 

[PropertyEconomics]

Well KM - I haven't posted much lately - but I can say this. It goes back to an old saying, and a recent thread, "Lead, follow or get out of the way"! In other words, we, as appraisers, need to push forward our opinions (all the $U*K3d up ones too) otherwise we're the sheep in the field (as has happened in the past few years) following the "DIRECTIVES" (that we were never told - even with the SOW - at the time of order) slash aka ORDER.

From my perspective, the approach of the IVPI proposal is right on course in that it benefits the appraiser as well as complies with the directive as signed by fannie/freddie/cuomo/ofheo. Will it be accomplished? Good question. But, and even it does, a better question - do you an AMC taking over this would be better? I think not! Flipping burgers with no liability is looking better everyday than the possibility of $zzz,zzz,zzz liability. While I don't agree with all of it, the concern of AMCs taking over this, which is a strong possibility, scares me enough to get out of this field - immediately. Hell, I could make more selling cars or shoes than what is happening now due to the fact that I don't do AMC work - I provide supportable opinions of market value for residential appraisal work and I charge for it - I also lose work for not "kissing @$$" and cutting my fees - yes I'm slow but seeing a turn around.

It's not perfect, but then it never is. I'd rather support some perspective that at least helps distance appraisers than supports pressure or something disguised as "an order" the does that.

Oh - BTW - Happy Friday, or Saturday - pour another one.

Edited for typos - shouldn't post on Friday nights

I dont think it was the day of the week Otis ... :new_all_coholic: ... you still missed some ....

And I agree with you the time for action is now and if we dont come together to solve the problems we are all in trouble. Mind you ... we are going to create a few problems as well ... but we can solve those as we go. Its very much like an appraisal ... as you go along you have things that have to be solved and you do. The proposal is no different ... in time all the issues will be resolved for the betterment of the Nation and we will be along for the ride.

The Time to Act is Now ......

 

[Mike Kennedy]

Can we find a better solution?

IMP, please do. Seriously.....Let us all know. Thanks.

 

[PropertyEconomics]

I believe the proposed contains many solutions or at least improvements to inherent problems within the current system and also appauld the efforts of those involved. I however refuse to believe that the removal of the basic american dream of an open marketplace and the opportunity to strive, grow and develop your business as part of the plan, ridiculous. In order to stop appraiser coercion between lenders and appraisers, resulting in inflated values a gse is now going to do so. The definition of coercion as follows from dictionary.com

1.the act of coercing; use of force or intimidation to obtain compliance. 2.force or the power to use force in gaining compliance, as by a government or police force.
Reading that proposed translates to me as just another form of coercion, however this form will be backed and influenced by those with much more power than the guy on the corner whose barking for a value. If the proposed tanslates to rotational system of ordering, they control your work flow, they collect and disberse payment tanslates into they control and monitor your pay, and all assigments are stored within their database, they now have access to the majority, if not all your reports all in one place easily accessible and to with as they choose. If I walked into your office today with a title and an important looking badge, asked to sit down go thru your files, your accounting and then determine your work flow and opportunities for future growth youd tell me to hit the bricks and slam the door - and youd be right. Improving the profession should not require us to stagnate our dreams, our careers and our futures. With our collective voice and our knowledge, can we not come up with resolution that sets the bar higher and protects the amercian dream as well. Accepting anything less would be an injustice to all of us involved. You may not live the american dream however today you have the right to pursue it within this field. To not protect that dream is wasteful and ungracious. Can we find a better solution? I look forward to improvement in the system however doing so at the cost of free trade frankly stricks me as absurd and Im amazed at how many dont appear to mind.

Imp .. I think everyone shares your concerns. The real question is does it matter if the orders come from one group with your interests in mind or would it be better to have 10 groups beating you down every day on fees while lining their pockets? I honestly think it will be one way or the other without much alternative between the two.
The fantasy is over, this is serious, and we have a voice. But to think the free market system will return as you outline will never happen. The days of your friend picking up the phone and ordering from you with respect to a GSE assignment are over. And thats not the doing of IVPI .. thats the agreement Fannie and Freddie signed.

 

[RICHARD D. FRANK]

This should be our focus.

Improving our stance.

The proposal has been submitted. As far as I know, there has been no other proposal of it's kind submitted. Perhaps another group is still working on one. It is only a proposal, so if there is valuable input, let it be submitted. The IVPI proposal is in response to changing regulations, not the originator of them.

 

[Kevin Mc]

Improving our stance.

The IVPI proposal is in response to changing regulations, not the originator of them.

I highlighted this so some don't get confused. The regulations are changing with or without the IVPI

Some, I think, still don't understand that.

 

[Hamlet]

That is the crucial point here, the regulations are changing and we either put forth our ideas to stop the madness or we sit back and let others do it for us. We’ve all seen what happened the last time and it only made things worse.

Everyone has to remember this is a changing process and even the mistakes we make will be honest ones that can be corrected. We are not in this for greed, but a true heartfelt desire to see the economy and our profession recovers.

Those that are on the committee are taking our comments very seriously and incorporating them and responding back to us, what more can we ask? At least someone is listening to us.

 

[George Hatch]

I strongly doubt that any of the other groups who are now competing to be "the one" will listen to what appraisers have to say as much as we have been.

The old model that some of you are attempting to revive basically died on the table two weeks ago at the hand of the GSEs. It's now on temporary life support and - unless you guys can completely reverse the damage - the plug will be pulled in a few months.

Raise your hand if you seriously believe the GSEs will somehow reverse their stand on MB-engaged appraisals.

Life will go on and the appraisal business will continue after that plug is pulled. The question is, which compromises will you have to make to be part of that business? If you think that all the proposed compromises are equally bad and decline to make any compromises then you'll probably get buried at the same time the old model you're trying to defend gets buried. RIP.

 

[Workbox]

I strongly doubt that any of the other groups who are now competing to be "the one" will listen to what appraisers have to say as much as we have been.

The old model that some of you are attempting to revive basically died on the table two weeks ago at the hand of the GSEs. It's now on temporary life support and - unless you guys can completely reverse the damage - the plug will be pulled in a few months.

Raise your hand if you seriously believe the GSEs will somehow reverse their stand on MB-engaged appraisals.

Life will go on and the appraisal business will continue after that plug is pulled. The question is, which compromises will you have to make to be part of that business? If you think that all the proposed compromises are equally bad and decline to make any compromises then you'll probably get buried at the same time the old model you're trying to defend gets buried. RIP.

Ladies and gentlemen, I, and as others, that have been on this forum and have diligently fallowed all those that participate and with a huge spectrum of backgrounds, views, professionalism, ages, life experiences and with ever need to grow and make better for ourselves and our profession. We need to heed what is happening before us.

With so much happening and about to happen, we need to come together for the greater good. I am ready, have been.

Mr. Hatch is right, who else is really listening to us?

 

[moh malekpour]

Can we find a better solution?

IMP, please do. Seriously.....Let us all know. Thanks.

Mike,
I personally think the IVPI proposal is a good one but it doesn't address the AMC's problem. It doesn’t have a persuasive argument as to why GSE, NY AG and OFHEO should choose the IVPI proposal instead of AMC. There is nothing in there to inform them about the way that AMC operates. It says how good the IVPI proposal may operate but doesn’t say how bad the AMC has been operating. Unless they are convinced that this proposal is better than AMC, they have no reason to change the old system that they know to the new system that they don’t know. The flaw of AMC should have been highlighted and addressed in details but it is too late now. May be we should highlight and address it in the comment section of HVCC.