Hybrid appraisal report

[Zoe]

Nobody wanted appraiser selection done randomly. They wanted round-robin selection, which is the only way to avoid pressure, and it is the way the VA works, and the old FHA panel used to work Of course, the stakeholders pressured to disband the FHA robbin system, and as soon as that happened, fraud and inflated values were seen in FHA lending, to the extent that now FHA orders two appraisals done on a flip house /..

Notice VA is only entity that needed no bailout. Think about it.

That is amazing fact to me. I understand mitigating factors in most cases but still.

Know why CFPB did not call VA to appear before appraisal bias hearings?

That is why. Veteran just shot people up in Kentucky out of nowhere and just random shootings.

VA takes no crap off anybody..... veteran, lender, appraiser, etc.

It makes a difference.

There are many veterans with mental issues today from serving in war. But they have help from VA. They can go get mental health.

 

[J Grant]

Were you on the Forum then?

Yes. I signed the appraiser's petition. (which was ignored for years, so don't; blame us for this ) I do not remember anyone here recomending for profit AMC's that took a big chunk of the fee as the solution.

IF it becomes appraisers wanting to blame other appraisers, the comp checkers and people who could not say NO to the pushy mortgage brokers revealed problems on the appraisal side, and every appraiser suffered because of that segment.

 

[Zoe]

One of my heros died in VA hospital in Memphis. I saw him day before he passed. World war 2 vet and POW for 16 months in Germany.

I understand mitigating factors why VA was only entity not to have bailout.

 

[Zoe]

I have really rough one right now with VA. It is bad where elderly vet bought it in 2006 and it is really bad shape and the VA said you don't worry about that. You do our MPR items and go with it.

They know me. I have worked for them for many years. But I want VA on my side in case veteran or lender or anybody gets upset.

 

[Zoe]

North Memphis. Predominantly African American neighborhood. Property values were high in 2006.

Memphis was like mortgage fraud capitol of the world in 2006.

VA said don't worry about it. VA said we are your client.

 

[Zoe]

In essence what VA does is says okay lender, it is your choice.

We may be able to help the veteran. VA says it is our way or the highway.

I don't think veteran has to pay if lender cancels the appraisal. The lender has to pay me though.

 

[ExplainDNA]

I do not remember anyone here recomending for profit AMC's that took a big chunk of the fee as the solution.

I never said that they did. What I said, which was met with severe resistance, was that the AMCs were certain to run the tables and ruin our "Custom & Reasonable" fees, which was another myth being tossed around back then, as well.

C&R = myth. HVCC = myth. IVPI = myth. All were PROFESSIONAL appraiser killers, every bit of it. THAT'S what had people coming at me full bore. And, I'm not kidding, a forum member here sent me a death threat, came over our fax, that my wife picked up. That's how angry people were at my simple prognostications.

 

[Tom D]

New York attorney general Andrew Cuomo was the one who brought the suit about lender pressure. Nobody wanted AMC control. Except for one funny coincidence. Cuomo was on the board of a large AMC at the time he invented hvcc. Any thoughts on how we got political coruption AMC control..

May cuomo burn in he×l fot that and murdering senor citizens when he was governor.

 

[ExplainDNA]

Nobody wanted AMC control.

You’re correct. I sincerely believe that even my detractors (at the time) surely didn’t. The problem was is that it was a guaranteed outcome (IMNSHO). It’s just human nature.

 

[David S]

Working on a hybrid appraisal report. AMC said let me wait 3rd party to provide PDC file and they will provide everything, then start the report. What does that mean? Who select comps? What if I disagree 3rd party information and comps list? What shall I put some extra comments to say the appraiser didn't personal inspect the property and rely on PDC file, MLS and public information to conclude the market value opinion? Any suggestion? Thanks!

AMC just notified me the order has been cancelled.