Hybrid Appraisals

[CGinMN]

Because the GSEs are not investors their basically semi sovereign sinking funds insuring the investor using tax payer funds.

Yes, GSEs take this risk.

The private MBS funds and portfolio held loans have higher rates than ones sold to GSEs but today risk is highest by rate changes not individual loans or property values.

Yes, because non-agency takes the credit and overvaluation risk.

Therefore the value of residential appraisals in risk analysis has dropped significantly today where it may rank at near the bottom of the risk ladders matrix.

It hasn't dropped, it is just absorbed by the taxpayer, with little transparency.

Also when physical values drop on real estate most appraisals are worthless because after a 10% decline it's underwater anyways if they have to foreclose. That's why the newer models you don't foreclose if you can re work the loans terms and payments.

10% underwater is better than 20%.

 

[Mejappz]

Anyone experience working for Mueller Reports?​

I just had a virtual interview with Mueller Reports and apparently passed the first round. The interviewer said I would receive an email later with instructions to take an exam.

Does anyone have any experience with this company? Is it a scam of sorts? If not a scam, is it decent to work for the company? Any advice would be appreciated.

"I worked for them for over two years, and it was the worst job I've ever had in two decades in the workforce. The job itself is easy. But you put hundreds of miles on your personal vehicle a day, you're micromanaged by people that have literally never done your job but insist on telling you ways to do it better (but don't know how), there is zero training. You're not reimbursed for equipment they USED to provide to you, but now require you to purchase yourself. They dangle a "bonus" if you're fast and efficient enough, that I've never heard of anyone receiving.

The upper management rotates on a 90 day basis. Not a single week went by that we didn't recieve a new email introducing a new executive to replace the previous one that got out ASAP.

We were lied to during Covid lockdowns and told we were essential, and when asked for documentation to provide as proof of being an essential employee during quarantines, they told us to just Google one and print it out, and we'd be fine.

First day I was told "You WILL be chased by dogs. Learn to run, or jump fences." My second day on the job I was bitten by a pitbull. They don't contact the people whose homes you're inspecting, so more than once I had someone pull a gun on me, understandably, because a complete stranger was wandering through their yard taking pictures of their house. The company claimed every time they made contact, but they never actually had. The person who referred me to the company had their leg shredded by a pitbull during an inspection, and the companies response was "You don't have insurance, you know that, right?" and not to worry, they would make sure that the pitbull was put down.

I have hours and hours worth of horror stories from that hellscape. They won't be in business for much longer."

...

Someone who was in the doghouse for the past couple of weeks is having a hard time catching up on the evidence provided over the last month. I understand it's overwhelming but predictable. Lol

 

[Mejappz]

What I want to know is, how does it feel to be part of a system that has failed so badly, especially when your fingerprints are all over it? It must be a difficult feeling, no doubt.

 

[chad hampton]

I think we all agree that AMCs morphing into nationwide appraisal mills are clearly a violation of the intent of AMC legislation that was written 15 years ago. At least those of us that understand the profession know this. This is why you can't give an inch when it comes to unethical behavior. Once you let 1 thing slide, they go for another.

 

[Surf Cat]

What I want to know is, how does it feel to be part of a system that has failed so badly, especially when your fingerprints are all over it? It must be a difficult feeling, no doubt.

 

[Surf Cat]

Ah crud.... that video would've explained it perfectly.

 

[Mejappz]

I was just going to have something to eat, thanks. Lol

 

[CGinMN]

I think we all agree that AMCs morphing into nationwide appraisal mills are clearly a violation of the intent of AMC legislation that was written 15 years ago. At least those of us that understand the profession know this. This is why you can't give an inch when it comes to unethical behavior. Once you let 1 thing slide, they go for another.

There is something inherently wrong and anti-competitive about AMC's staff being in direct competition with independent appraisers, while also delegating orders, and knowing what all of their competitors' fees are. Are they going to send that order to Appraiser A for $600 and collect their $150 management fee, or will they underbid Appraiser A by $10 and pay their appraiser a 50% fee split and collect the $150 management fee plus net $295 for the company in appraisal fees?

 

[J Grant]

Do

Ha

The medical profession is already skipping the 3rd party "inspection".
View attachment 98719

The doctor or the PA or nurse conducts the telemedicine call or zoom call

Telemedicine is not concocted by a random person who took a two-day training class.

 

[J Grant]

When I go to see my endocrinologist, she reviews data that she receives from an app on my phone and spends about 3 minutes chatting with me about that data.

Where is the comparison> Your endocrinologist is reviewing the data, not some third party person.

( I have no idea why this line shows up and can not delete it, sorry about that-