Give me a break

[Artemis Fowl]

...I am also okay with the CEOs making obscene profits, as long as I am not funding it through my loss of income for appraisals, esp as the split fee is a GOVT ENTITLEMENT allowing it. How come you come down hard on any govt program that helps the worker, but you are gung ho for a govt program that helps the wealthy/corporate interests?

1. That's about as NIMBY as it gets.
2. Mandating a product for transactions is about as entitly as it gets...in our favor.
3. Because some of us analyze the likely consequences of "gov't programs" and go beyond the marketing slogans. I present the "CRA - Community Reinvestment Act". Marketed as a program to encourage homeownership. "For America's working families" was mentioned by many at the time. This wonderful "for the worker" program was the catalyst for the '08 crash. How'd that work out for working families?

 

[djd09]

hey george, how's that hotline working out?

 

[Mejappz]

The HVCC mastermind might be facing some jail time for lying to the Feds. You don't think he would do that in his dealing with the GSEs, would he? Naw

Cuomo aide defends comments amid mounting criticism over New York’s handling of COVID in nursing homes

ALBANY — Gov. Cuomo’s top aide is defending comments made to lawmakers this week as criticism over the state’s handling of nursing home deaths during the COVID pandemic has morphed into calls for accountability and even…

www.nydailynews.com

 

[Mejappz]

hey george, how's that hotline working out?

How's this for a throwback. Don't worry; they are still working out the kinks of the hotline. It should be up and running anytime now.

Violations of HVCC

Can some one please let me know if an appraisal managment company reviews your apprasial and then suggest you review sales information in the area that they feel are better comparables?? Can I please get some feedback on this. Do they violate the HVCC Home valuation code of conduct #10 any...

appraisersforum.com

 

[Mark K]

How come you come down hard on any govt program that helps the worker, but you are gung ho for a govt program that helps the wealthy/corporate interests?

I don't know where you get that idea. I'm against most any program subsidized by my (and others) tax dollars for the benefit of a few well connected business owners. You can ask Terrell about my opinion of the Ag Welfare programs that support corporate farmers. Same goes for subsidies for the tech, sugar, and oil companies, just to name a few.

I'm more of a free market advocate. If there's a need for a product or service, the market will respond accordingly. I'm not in favor of regulations that exist for the sole purpose of guaranteeing jobs for a class of workers, including unnecessary appraisals at the borrower's expense just to provide job security for the appraisal industry. IMO, about 50% of SFR appraisals are a waste of time and are done solely to allow the lender to check off a box.

I've said it a thousand times...that the best, full appraisal in the world provides no added value when the borrower quits making payments. Lenders would be better off, i.e., less risk, vetting the borrower better and loaning only to those qualified to repay the loan. And, BTW, getting rid of F/F and making the lender keep the risk. I know, more heresy.

 

[Mejappz]

What's delicious about this thread is it shows the disconnect between the ivory tower and the boots on the ground appraiser. For years we have been warning everyone that would listen that the system that is currently in place is unsustainable.

Did they listen? No. I work in an area entirely saturated by appraisers. I can't tell you the number of orders piled up in my e-mail. From AMCs, I haven't even have signed up with. My take is these waivers backfired, and now the lenders are so behind they can't keep up. It is total chaos. I think appraisers are just fed up and not accepting orders.

The chickens have finally come home to roost. And the results ain't gonna be pretty. Grab some popcorn and watch the implosion.

 

[J Grant]

I don't know where you get that idea. I'm against most any program subsidized by my (and others) tax dollars for the benefit of a few well connected business owners. You can ask Terrell about my opinion of the Ag Welfare programs that support corporate farmers. Same goes for subsidies for the tech, sugar, and oil companies, just to name a few.

I'm more of a free market advocate. If there's a need for a product or service, the market will respond accordingly. I'm not in favor of regulations that exist for the sole purpose of guaranteeing jobs for a class of workers, including unnecessary appraisals at the borrower's expense just to provide job security for the appraisal industry. IMO, about 50% of SFR appraisals are a waste of time and are done solely to allow the lender to check off a box.

I've said it a thousand times...that the best, full appraisal in the world provides no added value when the borrower quits making payments. Lenders would be better off, i.e., less risk, vetting the borrower better and loaning only to those qualified to repay the loan. And, BTW, getting rid of F/F and making the lender keep the risk. I know, more heresy.

I like most of your posts even if we disagree at times !

WRT lender risk/ borrower quitting making payments, neither an appraisal nor other kind of valuation will prevent that. Therefore, measuring the worth of appraisals around loan risk is futile

How can appraisers not understand that the value of the appraisal is on the front end, when it is used to provide information to clients , including a value, so the lender can make a decision ? ( decision to approve or deny the property and its value for the LTV ). Appraisals and the anchor they provide of validating the property as collateral is what helps keeps interest rates low and allows the favorable down payments and loan terms of FF programs . THAT is their value, and THAT is why it is worth it for a borrower to spend $400-$600 a one time appraisal fee to get those extremely favorable loan terms.

Wanna have no appraisal? Wanna see what getting rid of govt requirements looks like ? Look at the typical loan terms of most private money lenders, which typically use an in house AVM! The borrower saved a few hundred dollars on appraisal ! No pesky govt UW ! And those lenders require a large down payment, have higher interest raters, and often a balloon payment due in X short term years.

 

[djd09]

What's delicious about this thread is it shows the disconnect between the ivory tower and the boots on the ground appraiser. For years we have been warning everyone that would listen that the system that is currently in place is unsustainable.

and what's TAF doing? rolling over for the banksters.

15th st is a party

 

[Mejappz]

and what's TAF doing? rolling over for the banksters.

15th st is a party

Indeed it is. And what do they come up with? Well, Parea of course. Mr. Bunton never had it so good.

 

[djd09]

Indeed it is. And what do they come up with? Well, Parea of course. Mr. Bunton never had it so good.

yep hurry up get licensed before they waive them all . suckers