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I Was Just Offerred A Bribe By Lo !

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Joined
Jan 16, 2002
This LO is by far the biggest sleeze I've ever spoken to. At least I give him credit for not beating around the proverbal bush. He actually said straight out "Is there anything I can do at this end to help increase the value" ? I knew what he meant immediately, but played stupid and said "like what" ? (hoping against hope he had better comps to give me ;) ). He says: "like increase the appraisal fee" :eek:nfire:

As you all know it's usually the threat of no more future business, and on occassion an implied bribe, but I can't remember even the biggest sleeze balls ever being that
direct.

What's the occurence of this in your area ?
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Joe ..... good grief man, quote him higher fee! Sure, say 2M? You missed your chance to retire!!!
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
I have had one offer me a bride. Looking back I wish I had stalled, called the Appraisal Board and the Banking Commision and then based on what they said accepted his bribe and caught him in the act.

Instaed, I was so shocked that I read thim the riot act and told him to find another appraiser!
 
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Montana
The appraisal profession is ripe for a sting operation. The FBI can sound very convincing and there is fertile ground and cause for concern. Don't for a minute think it can't happen. Our own forum members can fill you in.....LOL

It is not hard to believe that the next level of lender pressure would be outright bribery but with rising rates, these guys are going to be desperate to keep up their Beamer payments.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
What's the difference between "increase the fee" and "if you can't make my deals work, I'm going to have to find another appraiser". The answer is "Nothing". Texas has a law that's supposed to take the lender pressure out by making it against the law. Yeah, right. It still happens. All the lender has to say is that they were disappointed in the QUALITY or TURN TIMES and they're off free.

Roger
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I just had a call yesterday from an out of town lender. They had a problem with my pay at the door appraisal. When I called, the problem was my value. It seems that the one year old 3,600 SF home that the borrower purchased last September for $151,000 should be worth $165,000+ now (loan amount $148,000) even though there are plenty of same size/plan sales in the addition that are now being sold for less than they paid. This is one of those famous "more house for you money" additions with big block homes from Fox & Jacobs, Centex and others. Lets see, new homes dirt cheap, 98% loan and no re-fi possiblities. The loan officer can't seem to understand why I can not get more value for these good people. Look out for the storm brewing folks. As the interest rates go up, loans will be harder to find and loan officers will need plenty of appraisers to play ball to keep their re-fi based income levels.
 

Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Aloto Numerino and associates

Number Hitter Specialist

"You name the value, we quote the fee"


:ph34r:
 
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