• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

If You Could Change This Profession?

Status
Not open for further replies.

Darrell Hignite

Sophomore Member
Joined
Jul 16, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
This may have been discussed before, but just as another thread. What would you say is the biggest problem with your job.

Is it getting email's and fax's that have the "PRE-determined Value" on them?

Is it the pressure from lenders and more likely Mortgage Brokers to hit the number?

Is it Just trying to get a week off, so you can go fishing, shopping, or just take a Whole week and relax? God knows we need it!

Is it your appraisal board, I've been reading your posts, haha.

Or is it something else? If you could change anything, what would it be. Please share and I know you will....Please leave this thread here, it will be seen more than the others. Thanks and Happy Appraising. :D
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
More than predetermined value, but that is a close second, somehow get rid of the number hitters. They make my job harder than the loan officers because they do what the loan officers want. If everyone was honest and played by the rules it would make appraising so much simpler. Oh well I can day dream.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Although it would cost me work, eliminate the lender selection of the appraiser. No power, no pressure, less fraud. But, I am sure within a matter of weeks some mastermind would figure out a way around that too.
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Great answer Tim! I would love to see that happen!
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
The "estimate of value" comments on an order....easy, I just ignore them and do my analysis the way I am supposed to do them.

As for "pressure" from a calling broker or LO.....easy, I will ask them to tell me everything they know about the property and the context of the assignment, will confirm my realistic turn-time for their report if no complexity exists with the property or the available data, will clarify the means of delivering report to them, I will ask if the h/o is ready for my phone call....and (since they felt the need to discuss comp checks first or call them with value hunch, etc. etc. ) I will know they are corrupted individuals and I am obligated to minimize my risks by taking the conversation to a c.o.d. or client pre-pay scenario and letting them decide if that possible order for me is going to materialize. If the terms are not satisfactory, i.e "no c.o.d. possible" then I decline the order. Have I lost business because of that ? Sure. I have been stiffed on a fee once in 1998, once in 1999 and regretfully once in October '02.

But what I would really like to see.....is several prime-time TV news stories that portray how the "little guys" have been hurt....by irresponsible corporate CEO's, et al, who willingly ALLOWED lower level management and supervisors to originate, create, facilitate and process loan transactions whereby those employees coerced, bribed and arm-twisted members of the appraiser community to deviate from the legal obligations they have within the confines of their appointed duties. Take the responsibility right to the top level. So what if they are Rotary Club presidents , or coaches of Little League teams, or sing in the church choir. For once shift the focus of the evil-doer OFF of the appraiser (yes, we do have some bad apples too) and direct it where it also belongs. A few "perp walks" with handcuffs, being lead into Federal justice buildings ...at least until their slick-suited lawyers spring them from spending some nights in a cell with other members of society.
 

SmilingDog

Member
Joined
Apr 22, 2003
Professional Status
Certified Residential Appraiser
State
California
I think USPAP needs to be re-wroked along with FIRREA, etc.

I think the Feds cracked down on appraisers in 1989 as a result of the S&L crisis. We were the scapegoats. When all along the real problem is with the land owners and lenders.

Lets rationalize this:

The owner wants $50k, he calls Mortgage Broker.

Mortgage Broker says to owner, you only qualify 65%LTV because of your poor credit, and you owe $75k, so we need to have your house worth $195-200k in order to do the loan and pay costs, etc.

Mortgage Broker calls Appraiser schmuck. He gives comps, etc, blah blah blah.

Loan gets done through a wholesale loan with a BIG Lender, owner never makes payment and retires with $50k in the Bahamas, Mortgage Broker made his $5k commission, Lender sues Appraiser (who probably never got paid anyway), and so there you have USPAP.

Wait, what if the problem was that owner that never intended to pay, or that Mortgage Broker who only wanted his commission.

I think the Feds need to start looking onto the CAUSE of the problem and not the EFFECTS of the problem...
:eyecrazy:
 

jtrotta

Senior Member
Joined
Jan 16, 2002
No retiremint Fund

Not enough time to vacation

I want a Free new car of my choice every three years

just a couple of nights to go to dinner wit my mamajama

Ooops; I thought the question was what would I do if I didn't have six kids & tree grandkids :mrgreen:

:ph34r:
 

jeff samolinski

Senior Member
Joined
Apr 18, 2003
Ross:

By God I think you've got it!!!!!!!

Kind of summarizes my rant and rave recently on this forum. I will be writing Fannie Mae and my Congressman soon on these issues, specifically the flaw in the way that most lenders order appraisals and let their loan officers go about basterdizing the process while their superiors go to the big meetings to pass more legislation putting more rules on us via our our boards. Are ya listening Frank. Some board members have done a great job in trying to stave off the crap that comes down on the boards from above but we are naive to think that just because the boards have appraisers on them and that the rules are ultimately written by appraisers that they forget to ask where the impetus for the rule came from.
 

Francois K. Gregoire

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Originally posted by jeff samolinski@Aug 6 2003, 08:30 AM
while their superiors go to the big meetings to pass more legislation putting more rules on us via our our boards. Are ya listening Frank. Some board members have done a great job in trying to stave off the crap that comes down on the boards from above but we are naive to think that just because the boards have appraisers on them and that the rules are ultimately written by appraisers that they forget to ask where the impetus for the rule came from.
As a matter of fact, I am. In turn, you demonstrate a complete misunderstanding of the rules making procedure, at least in Florida.

While slinging arrows, it would be most beneficial if one fact supporting your allegations about who writes the FREAB Rules would be provided.

The entire procedure has been outlined to you in previous posts. The enabling legislation has been provided as well as links to the statutes governing the rule making procedure. For reasons unknown to me, some folks prefer to ignore facts and reach conclusions based upon their "feelings".

You may find it more beneficial to craft an argument with a basis in fact. It's also beneficial to consider reality rather than fantasy, captialize on knowledge of the subject and relevant procedure rather than demonstrate ignorance of facts.
 

Randy Beigh

Senior Member
Joined
Jan 16, 2002
What one thing would I change?

It has always bothered me that our opinion of value was, somehow, cast in concrete. How can that be? After all, it is an opinion. Just because I say the house is worth $100,00 doesn't mean it wouldn't sell for $105,000 or $95,000.

I would change things to a range of value that would allow the lender to work with a better and more logical set of values.

I think that that change, by itself, would alter the number hitting appraisers as well as the estimate of value from the loan officer.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks