Hybrid

[Meandering]

As I have said before, if you want to make the IAEG argument than take your best shot at that, too; because the regulators are demonstrating in real time what they do and don't require of lenders WRT inspections.

I don't drink. Perhaps you should consider the same when attempting to argue appraisal standards with me.

I don't drink either

How much are you getting paid to sell the lemmings on doing the work you won't do?


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[George Hatch]

a) Questioning my motives is not an argument. Even if I was working for the AMC cabal that wouldn't alter what USPAP says is and isn't required of appraisers in an appraisal.

b) On this particular issue I'm not trying to sell anything other than what USPAP does and doesn't say, same as I've been trying to do for the last 22 years.

c) I understand your objections to the service as well as your interpretations that the regulators are not allowed to let the lenders use these. It's not a matter of me somehow being unable to understand what you're saying, it's simply a disagreement with your premise that's based on the demonstrated actions of the parties involved. 2055s and other driveby products being just one example that predate either of us in the appraisal business.

IRL the only difference between a no-see-inside 2055 and a no-see-inside hybrid or desktop is a matter of degree.

d) I believe in the people and their right to make their own decisions in what their perceive to be their own interests. This is where knowing what the facts are and aren't has utility. They have their own experiences with risk management, with the value and marketability of their time and which clients they will and won't do business with. If an appraiser chooses to work for AMCs or do 1004s for $225 that's their business so long as they do those 1004s competently.

There are other arguments for appraisers to not perform this work. Some of which I have used in my own decisions to not be involved in the GSE appraisal business, or the appraisal of the big trophy projects that the MAIs specialize in. I don't work for the government or on staff for lenders for some of those reasons. The distinction is that those other reasons have nothing to do with the question of what is and isn't an appraisal or what kinds of work appraisers are allowed to do.

 

[djd09]

Quick and cheap is their future vision. It will be a hard lesson to learn for appraisers and taxpayers, again.

All the assignment conditions does not absolve not credible results. Common sense is not a for profit objective.

 

[George Hatch]

We all saw the inevitable outcome of broker select back in the day, too; that didn't prompt any of us to claim in error that USPAP prohibited those engagements; nor did it alter the way most of us actually performed our appraisal assignments. Lenders engage in risky and unadvised behavior, and the gov't enables that behavior. But none of that has anything to do with what is and isn't an appraisal or what we're allowed to do.

 

[djd09]

I stated that we are to observe all areas of the home, take photographs of every room and that was normal.

She replied.

“I know what an appraiser does. I retired from the banking industry after 45 years. The person they sent to my home was not an appraiser. He called himself a property inspector. He explained he did not appraise the property and was there to make notes and take pictures. He did not work for the appraiser and did not even know who the appraiser was or what the process of appraising entailed. This person was a stranger in my home and had no credentials, license or professional affiliation. As an elderly single woman, who lives alone, a fear came over me and I told him to leave.”

We talked a bit and I explained about hybrid appraisals and how appraisal management companies and lenders were pushing these products thinking it will reduce the turn-around time to get an appraisal.

Her response:

”That is the most asinine thing I have ever heard. The property observation is the most important part of an appraisal. It is what the appraiser uses as the foundation of the report. It is the information that comparables are selected from. Who in their right would think this is a smart thing? This has fraud written all over it.”

http://appraisersblogs.com/senior-citizen-homeowner-rejects-hybrid-appraisal

At least the public knows more then the untouchables.

 

[George Hatch]

Good for her. She can have whatever she is willing to pay for. They all can.

 

[Meandering]

a) Questioning my motives or character is not an argument.

But accusing me of drinking is???

Even if I was working for the AMC cabal that wouldn't alter what USPAP says is and isn't required of appraisers in an appraisal. .

You mean that part of USPAP that requires an appraiser to have knowledge of, and comply with the laws, rules and regulations that apply to the appraiser and to the assignment,

So are you saying that a lending assignment is not required to follow the IAEG as an applicable regulation?

b) On this particular issue I'm not trying to sell anything other than what USPAP does and doesn't say, same as I've been trying to do for the last 22 years.

Glad you are clarifying when you are selling the AMC kooliaid and when you're trying to parse languange in USPAP. You want to copy and paste the competency rule for us? I think it was requirement "b": of the rule, maybe it was "c": but it's in my mind that it was "b".

And then you can point out the regulations that apply to lending appraisals.

Thanks for the clarity.

c) I understand your objections to the service as well as your interpretations that the regulators are not allowed to let the lenders do these. It's not a matter of me somehow being unable to understand what you're saying, it's simply a disagreement with your premise that's based on the demonstrated actions of the parties involved. 2055s and other driveby products being just one example that predate either of us in the appraisal business.

Lots of things predate drive by products,

Including this little game

https://www.justice.gov/usao-ndil/p...-mortgage-brokers-fraud-allegedly-controlling


Which still does not address why you put so much time and effort into telling appraisers it's okay to do work you won't do.

Come on,

You have a computer and unlimited internet access,

You should be competent across the country and be taking all this work yourself.

After all,

You don't have to drive to any of it.

And you got a secretary who can handle all the typing for you.

All you need is a number, a signature, a bunch of boiler plate you can defend in court, a license and E&O.

Why aren't you working your "free market" advantage of the advanced verbiage you can defend?


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[Meandering]

We all saw the inevitable outcome of broker select back in the day, .

And what makes you think AMC select is any different, or is even "different" people.

Gheeze we can't even get different people between different AMCs.

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[Non Sequitur]

I stated that we are to observe all areas of the home, take photographs of every room and that was normal.

She replied.

“I know what an appraiser does. I retired from the banking industry after 45 years. The person they sent to my home was not an appraiser. He called himself a property inspector. He explained he did not appraise the property and was there to make notes and take pictures. He did not work for the appraiser and did not even know who the appraiser was or what the process of appraising entailed. This person was a stranger in my home and had no credentials, license or professional affiliation. As an elderly single woman, who lives alone, a fear came over me and I told him to leave.”

We talked a bit and I explained about hybrid appraisals and how appraisal management companies and lenders were pushing these products thinking it will reduce the turn-around time to get an appraisal.

Her response:

”That is the most asinine thing I have ever heard. The property observation is the most important part of an appraisal. It is what the appraiser uses as the foundation of the report. It is the information that comparables are selected from. Who in their right would think this is a smart thing? This has fraud written all over it.”

http://appraisersblogs.com/senior-citizen-homeowner-rejects-hybrid-appraisal

At least the public knows more then the untouchables.

A lot of made up stuff over there. After a vicious and unproved appraiserblog attack on someone I consider one of the best in our industry, I will never click on an appraiserblog link. Nothing but FUD and nonsense.

 

[djd09]

The broker buddy system didn't cause the collapse. NO DOC LOANS did that. George is pouring purple.