Hybrid Appraisals

[glenn walker]

I agree. How long did every appraiser train with his/her boss before inspecting on their own?

1983 I went on about 5 inspections with old appraiser...measure exterior...35 mm photos of exterior and street and Drive comps take photos.

After that i said now how do i get work ? Mind you I was a broker so I knew comp books etc. He looks at me and says Son call this company named " forns and worms " to get forms and labels and glue sticks. Im like what's the worms do they sell fishing equipment too ? He says no then call the Cmdc comp book company and order those and finally print some business cards and on them say "court certified" and passed course 101 and 102 with the bankers approved training.

I'm like **** I'm not court certified and where do i take courses 101 and 102. The old dirt bag says don't worry just hang a shingle and if you have questions call me. True story the next week I declared i was both a broker and appraiser and proceeded to fake my way by taking some live courses and calling old guys begging for answers.

No appraisal licenses back then and got lucky we had a tenant who worked in a Savings and Loan and from there i created my own approved list one by one while using appraisals as side money and selling land and anything i could. Funny when licensing arrived in 1988 era the old guys fought against it and said it would ruin the profession.

 

[TC]

Not too many people out impersonating being an appraiser as it carries no prestige or kudos

Yeah, not exactly a job that impresses chicks.

 

[TC]

1983 I went on about 5 inspections with old appraiser...measure exterior...35 mm photos of exterior and street and Drive comps take photos.

After that i said now how do i get work ? Mind you I was a broker so I knew comp books etc. He looks at me and says Son call this company named " forns and worms " to get forms and labels and glue sticks. Im like what's the worms do they sell fishing equipment too ? He says no then call the Cmdc comp book company and order those and finally print some business cards and on them say "court certified" and passed course 101 and 102 with the bankers approved training.

I'm like **** I'm not court certified and where do i take courses 101 and 102. The old dirt bag says don't worry just hang a shingle and if you have questions call me. True story the next week I declared i was both a broker and appraiser and proceeded to fake my way by taking some live courses and calling old guys begging for answers.

No appraisal licenses back then and got lucky we had a tenant who worked in a Savings and Loan and from there i created my own approved list one by one while using appraisals as side money and selling land and anything i could. Funny when licensing arrived in 1988 era the old guys fought against it and said it would ruin the profession.

In Pennsylvania prior to certification, you had to be a real estate broker to inspect alone and to sign a report. That meant first getting a sales license and waiting three years to sit for the broker's exam. I probably inspected 1000 properties before I did one by myself.

 

[Surf Cat]

Not too many people out impersonating being an appraiser as it carries no prestige or kudos

Remember this dude? He impersonated a sign language interpreter for world leaders....he's classic...

 

[chad hampton]

Pdc - the wizards at the GSEs just created an entire new job title. I’ve been seeing it with these clowns for pushing a decade now. Standard governmental operating procedure. Hire some consultants to come up with a name that sounds nice so it’s easier to skirt the rules. Notice how they don’t call it a waiver anymore. People were becoming wise to that. So instead of correcting a wrong, just change the name to make it sound nice.

I have nothing but contempt for unethical and immoral professional behavior. Surprising how many other appraisers are OK with it.

This is all reaching a boiling point soon. You can feel it.

 

[djd09]

Pdc - the wizards at the GSEs just created an entire new job title. I’ve been seeing it with these clowns for pushing a decade now. Standard governmental operating procedure. Hire some consultants to come up with a name that sounds nice so it’s easier to skirt the rules. Notice how they don’t call it a waiver anymore. People were becoming wise to that. So instead of correcting a wrong, just change the name to make it sound nice.

I have nothing but contempt for unethical and immoral professional behavior. Surprising how many other appraisers are OK with it.

This is all reaching a boiling point soon. You can feel it.

we dont need them...or their made up terms...like the fannie guy said they aint signing them

 

[Justinjla]

Pdc - the wizards at the GSEs just created an entire new job title. I’ve been seeing it with these clowns for pushing a decade now. Standard governmental operating procedure. Hire some consultants to come up with a name that sounds nice so it’s easier to skirt the rules. Notice how they don’t call it a waiver anymore. People were becoming wise to that. So instead of correcting a wrong, just change the name to make it sound nice.

I have nothing but contempt for unethical and immoral professional behavior. Surprising how many other appraisers are OK with it.

This is all reaching a boiling point soon. You can feel it.

We created a new job title....because it's a new job. They are not an appraiser, they are not an inspector, they are simply collecting objective property characteristics at a property. They are not performing an appraisal service in any way, not concluding with any opinions...just collecting data. It doesn't take much of a wizard and we certainly didn't need consultants to come up with a name for this new job...property data collector is exactly what they do.

 

[J Grant]

We created a new job title....because it's a new job. They are not an appraiser, they are not an inspector, they are simply collecting objective property characteristics at a property. They are not performing an appraisal service in any way, not concluding with any opinions...just collecting data. It doesn't take much of a wizard and we certainly didn't need consultants to come up with a name for this new job...property data collector is exactly what they do.

What kind of a low paid "job" did you create -paying $75-$100 an order (showing up as a typical fee for a 1004 PDC)

If appraisers lose full fee appraisals and turn to PDC work , the appraiser will earn 1/4 of what they used to, making it no longer a viable profession. on the res lending side
It does give jobs to outsiders, RE agents or other folk. As its use for WAIVERS enriches the AMC since they are the main ones to order them.

And now, part of the appraisal fee goes to pay the non-appraiser PDC collectors,
The AMC getting their copesnatin from the appraisal fee instead of being paid as a cost from the lender as it should be ( a lender passing along a check from the appraisal covered by borrower is not a cost to the lender - virtually every other business has to compete by chargings their customer a cost for service but not the AMC thanks to the bundled fee on the HUD - the last govt entitlement and the only one that will escape DOGE wonder why -I do very little AMC work btw - but understand the compensation model.

 

[djd09]

they have divided appraisers from their clients, fees, independence, and now inspections...what's left?

 

[Non Sequitur]

We created a new job title....because it's a new job.

The GSEs and their AMC partners didn't create anything new, boots on the ground appraisers used to call them trainees.