Lloyd Bonafide
Senior Member
- Joined
- Jan 15, 2006
- Professional Status
- Certified Residential Appraiser
- State
- California
Most of our appraisals are being reviewed by recent high school grads working as cheap underwriters or AMC processors.
That's true, if you want to call it reviewing.
I have a couple of clients who order thru Mercury Network, (a great system for appraisers), and I find it pretty hilarious when I turn in a report that is very complex, with a lot of mediocre comps, and a ton of comments and explanations in an addendum. (The kind of report where a real appraisal reviewer would take at least 10-15 minutes just to read through the report). I can see who looks at the report, and how long they have the report open until they accept it, and sometimes it's as little as two minutes and they are done. (And of course the person who "reviews" it is not a licensed appraiser.) So effectively there is no appraisal reviewing going on, and the report is sent off to underwriting.