I'm piling on....F the AMCs

[chad hampton]

It seems instead of destroying an entire profession and the way we get clients, they could’ve just licensed the mortgage brokers and said if you’re caught pressuring or threatening an appraiser, you lose your license. Seems that would’ve been a simpler route.

But that would have resulted in appraisers keeping their small businesses and not having that money get funneled into the breakfast club.

 

[J Grant]

It seems instead of destroying an entire profession and the way we get clients, they could’ve just licensed the mortgage brokers and said if you’re caught pressuring or threatening an appraiser, you lose your license. Seems that would’ve been a simpler route.

But that would have resulted in appraisers keeping their small businesses and not having that money get funneled into the breakfast club.

I believe Mortgage brokers were licensed. They could have had strict regs in place to prevent future abuse wrt value pressure /went to round robbin and or established the 1-800- hotline to protect appraisers who reported mortgage brokers for pressure. But that, as you said, would not have fed the parasites who pocketed billions over the years - and ended up providing NO FIREWALL whatsoever.

 

[glenn walker]

Without Lenders 95% of appraisers wouldn't be working. The same with the Realtors they produce sales.

I've never understood those weird appraisers that hate the people who keep them in business. It's just bat **** insanity.

 

[J Grant]

Without Lenders 95% of appraisers wouldn't be working. The same with the Realtors they produce sales.

I've never understood those weird appraisers that hate the people who keep them in business. It's just bat **** insanity.

Commenting about a corrupt system does not mean that appraisers hate lenders or Realtors.

 

[chad hampton]

Without Lenders 95% of appraisers wouldn't be working. The same with the Realtors they produce sales.

I've never understood those weird appraisers that hate the people who keep them in business. It's just bat **** insanity.

I agree. I loved the good mtg brokers I worked with. Some of the most professional folks I’ve been around. These were people who relied on word of mouth to get work, always getting the best deal for their borrowers. Of course there were a few bad ones, but that’s the case everywhere.

 

[djd09]

i love my broker friends...

 

[George Hatch]

It seems instead of destroying an entire profession and the way we get clients, they could’ve just licensed the mortgage brokers and said if you’re caught pressuring or threatening an appraiser, you lose your license. Seems that would’ve been a simpler route.

But that would have resulted in appraisers keeping their small businesses and not having that money get funneled into the breakfast club.

The fee appraiser niche of the appraisal profession isn't even large enough to comprise a special interest group.

 

[Fernando]

When I started out as an appraiser I thought my mortgage broker was my friend. He gave me lot of work but...
One time he sent me to see this house. I think it was lived in by motorcycle gang members (Hell's Angels?).
I felt uneasy there. Broker had a good laugh.

 

[djd09]

the only way to get our clients was to steal them...

 

[glenn walker]

Commenting about a corrupt system does not mean that appraisers hate lenders or Realtors.

Corrupt System ? One of the top forensic MAIs that worked for the Fed's at a seminar a few years ago speaking to mostly regulator's and prosecutors stated that in order to commit loan fraud it almost always involves appraisers to help facilitate the loan fraud.

On forums like this and others everyone is a moral and god fearing ethical appraiser and if you don't believe me just ask them.

They will instantly choke and pivot into how it's the AMCs and lenders that are crooks and how the GSEs are the real crime enterprises but never acknowledging they are paid by cooperating with these crooked parties. Virtually everyone is guilty but themselves. Some even claim they only work for ethical and moral lenders and clients.