Hybrid

[Michigan CG]

Then why do so many appraisal reports state "sales within one mile are considered".

Because either:
A: The appraiser is an idiot or,
B: The client is an idiot who has to be appeased by the appraiser.

 

[Michigan CG]

The appraiser who signed the report was a staff appraiser for an AMC and located in some state out west about 2,000 miles from NC. They stated they became competent in NC by reviewing appraisals from this state. I don't think they ever physically stepped foot in this state in their lifetime.

The agent who completed the field work was not told by the bank that their work would be used in the development of an appraisal report. They were hired to do a BPO and that was all they were told. Once they were informed that theit BPO was passed on to be used in an appraisal, the agent said they will no longer be doing any of these for banks. In NC, it is a violation of law for an agent to assist in the performance of a RE appraisal unless the agent also holds a valid appraisal license.

There are unethical people and companies in every business. That does not mean the product or service they are selling is unethical. The viability of a product is determined by the demand of the product and participants in the market willing to provide the product or service. At this point the people who want the product are idiots looking for a fee that will attract few providers.

 

[Michigan CG]

THE CHAMPION OF THE APPRAISER HAS SPOKEN!!!

Here is my advice to all, think for yourself. Is Marion wrong? Are you sure? If you are not sure, then how do you know what is right? Exactly, you don't. Do you really think DWiley gives a rats butt about your license or livelihood? He comes on here every day to smooth every one of us over, so we just stop thinking about it and keep on signing. Do you think his company does not know he spends hours on here every day, on company time? Think about it. He is a paid lobbyist, IMO of course.

LONG LIVE THE CHAMPION!!!

There was no need for this post. You have the option of putting Danny on "ignore" if you don't want to read his posts.

Moderator.

 

[Michigan CG]

Gee, wouldn't it be great if appraisers had some sort of organization they all belonged to, that hired lawyers to interpret the laws and publish official interpretations we could all get behind? Gee, that would be really great.

There are five professional appraiser organizations, which one do you belong to?

 

[hastalavista]

Of course. It was your inference to a hybrid paying $300 that made me laugh - my point was it matters not what, where or who the hybrid is product is destined for because the fee that’s going to be offered will be in the very same ball park regardless of the intended use.

Here’s a fun read. Clear Capital is paying a whopping $25. Jeeze. Realtors get more for BPO’s.

http://appraisersblogs.com/clearval-value-hybrid-appraisal

Which to me is EXACTLY what a hybrid resembles - a BPO the only difference is they slapped an Appraisal Certification on it. It’s a pig wearing lipstick and a tutu.

We'll see.
I see it differently (and we've both outlined the why's/wherefores).
I hope I'm right... but I'd venture to guess that if the program gets launched it will be within the next 18 months. We'll know then for sure, one way or the other!

 

[hastalavista]

There was no need for this post. You have the option of putting Danny on "ignore" if you don't want to read his posts.

Moderator.

Unfortunately, this forum has crossed the Rubicon (crossed it before the last election) on professional discussion (both sides of the argument).

It is sad. When I first joined, there were certainly some "in your face personal insults" but as I recall, they were the exception and not the rule. That doesn't mean there weren't spirited arguments. There were. But they were threads you'd let your mother read even if you were on the losing side of the argument. I guess those days are gone.

 

[Evincere]

We'll see.
I see it differently (and we've both outlined the why's/wherefores).
I hope I'm right... but I'd venture to guess that if the program gets launched it will be within the next 18 months. We'll know then for sure, one way or the other!

Come on now. The debates about ethics, the high roads of standards, the intellectual muscle being flexed and public trust concerns have have been fun but none of it has been so complicated as to be unpredictable or mysterious.

Fannie wants a fast tracked abbreviated product that any idiot can understand (and do) and have the cheek to label it modernization. Fannie doesn’t interject itself as an arbitrator of fees and It’s goal is to stay in business at any cost. if they proceed past the pilot and move forward it matters not who brings them what they want, or who was paid what for it because right now they are the too big to fail top dog doing the barking.

And the hyenas like Clear Capital, value vets and their ilk will be unleashed with their $25 loan origination desktop hybrids.

 

[chad hampton]

The entire industry was up in arms over 1 certified appraiser in a state sending 20 trainees all over the state to provide material information for use in an appraisal report. Many states adopted max # of trainees a cert appraiser could have because of it.

But now some seem fine with untrained/unlicensed random people running all over the state providing material information for use in an appraisal report.

I'd say I'm shocked, but nothing shocks me in this professional anymore.

 

[chad hampton]

The NC Appraisal Board Requires Appraisers to State the Fee in a conspicuous place within the report. Story has it they found a pattern of Low Fees = Less than desirable Appraisal Development and Reporting during complaint investigations.

Just an FYI - they do not require it, but the law is an AMC can't demand you remove the fee stated in your report. It is not yet a requirement.

 

[Evincere]

Unfortunately, this forum has crossed the Rubicon (crossed it before the last election) on professional discussion (both sides of the argument).

It is sad. When I first joined, there were certainly some "in your face personal insults" but as I recall, they were the exception and not the rule. That doesn't mean there weren't spirited arguments. There were. But they were threads you'd let your mother read even if you were on the losing side of the argument. I guess those days are gone.

Huh? I disagree