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Guess who they are blaming now!

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Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
OK, they did mention that broker pressured for higher values. That the reason for change, to stop brokers from pressuring appraisers. It wasn't just about the appraiser, but the industry it's self and Skippy appraisers were just part of it.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
I just listened to it and I think that it was a pretty truthful report....there was a lot of discussion about the mortgage brokers pressuring appraisers for inflated values. ...also, let's face it, some appraisers were and are a hugh part of the problem.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
"some appraisers" ............is blatantly unrealistic.

THOUSANDS of appraisers ......is more accurate.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
...also, let's face it, some appraisers were and are a hugh part of the problem.

The majority of the State Appraisal Boards disagree with you. If they believed there was a problem, there would have been thousands upon thousands of revocations across the united states!
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
The majority of the State Appraisal Boards disagree with you. If they believed there was a problem, there would have been thousands upon thousands of revocations across the united states!


Carni...........not when the vast majority of BANKS fail to follow OCC, OTS, FDIC due diligence, appraisal management and control regs....and send formal complaints to the state boards........

opting for "blacklisting" .......... to avoid possible lawsuits by appraisers??? most likely.


Most recent FBI white collar mtg fraud report indicated 14% of investigated fraud cases involved fraudulent appraisals. 86% had nothing to do with an appraiser.

if that sampling is extrapolated to the 40-60% of loans purchased by the GSEs..........clearly...........a MAJOR PROBLEM ........involving THOUSANDS of fraudulent reports done by THOUSANDS of ankle-grabbers who are retained supplied and financially rewarded by END USER LENDERS via MANY AMCs.
 
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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Here's my take. So we had the go-go years of real estate appreciation,
MBs make huge commissions. Did AF do anything to prevent the
abuse of appraisers? No, not in the least, they said, comp checks are
a business decision, they said, you want to train 20 new appraisers,
that's okay with us, we'll collect more fees. Did we all know that
Skippy was among us and eating our lunch? Yes. Did the state boards
do anything to stop skippy? Not in the least, it went to the bible,
USPAP and said, 'we don't do value, we go after appraisers who have
made consumers unhappy by not meeting requested value.

NPR has very little brains....they are like mushrooms, they are fed and
and kept in the dark, and don't know any better.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Mike,

I have recently been exposed to the shannigans the NCAB has been up to in this regard. What I learned is extremely embarrassing to me. I am ashamed of the state I live and work in.

Example; One guy has had 14 complaints againts him at different times. He is still appraising. He got slaps on the hand, that was it. There are many more examples of the NCAB looking the other way.

Appraisers commtting agregious Felonies and allowed to keep there licenses.

Numerous complaints of Appraisers making up comparables and subject data. Slaps on the hand and then sent back to the plantation to keep churning and burning appraisal reports.

You will soon learn how bad it really is here. I can not say anymore, I dont want to steal someones thunder! Man o Man will it be thunder!

It is a huge scandal!
 

xmtpedprl

Senior Member
Joined
Dec 6, 2005
Professional Status
General Public
State
Florida
Carnivore.

You need to know what it takes to be "revoked" as an appraiser. At least in my state.

Basically, short of bouncing a renewal check you can't be. You can be fined, but summary suspension is tough to come by.

Tragic, ain't it?

Dave...
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
I have no problem with it.

it is accurate as far as I'm concerned. I would just once like to hear someone blame the LENDERS. I hear the mortgage brokers being blamed, I hear the appraisers being blamed but what about those offering 106% financing, Option Arms,Adjustables,I/O loans etc...to those that should never have qualified?
 
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