I'm Walking Away

[Terrel L. Shields]

while we are on the hook for 5 years

Our state has a 3 yr statute of limitation, which our board adopted. The day I send in my license is the day I have a big bonfire on the back 40. No license, no regulatory requirements.

 

[Mike Kennedy]

I put this in improving the profession because no doubt this news will be seen as such by some. I am walking away from appraisal, or at least as a full-time gig and entirely from mortgage work.

I started 12 years ago and thought I would retire as an appraiser. I have hemmed and hawed over this career change in the past couple of months and finally last week I had the epiphany, today I took action and applied for my first job outside of appraisal. I intend to keep my license current because it was not easy to get one in the first place. I will likely do the occasional job. What I will not do, is another mortgage appraisal. Y'all enjoy yourselves if that's your thing.

I suppose I will come on here occasionally in the future, but I suspect once I start to actually work during the day it will be pretty rare. I will be curious to see if anything ever changes.

Good luck.

https://appraisersforum.com/forums/threads/diversify-now.218097/

https://appraisersforum.com/forums/...g-work-as-an-expert-witness-appraiser.211785/

https://appraisersforum.com/forums/...al-expertise-to-potential-new-clients.216304/


and...................more >>>

https://appraisersforum.com/forums/forums/marketing.183/

 

[Serge Paquette]

I'm so glad I left this industry. One of the best decisions of my life. I'm so much happier.

 

[Tom4value]

I guess I am one of the few that still love this profession. Here is my story:
I did my first appraisal on January 20, 1992. I was told on January 21, 1992 that my profession would be obsolete within a year. I had my ups and downs, working for three appraisal companies. In February, 2001 I became a loan officer, "jumping the fence", as it were. Like the OP, I kept my appraisal certification because if the state gives it to you, you don't give it back. Good move. An LO I worked with got canned and went to another mortgage company. He got me on the appraiser list and made a great living doing loans and appraisals on my own, always keeping one hat on at a time.

Along came 2008 and the Sh+* hit the fan. My mortgage company didn't want me doing appraisals. Tough. See above. I went to another bank for loan originating. Kept the appraising under the radar. Went to another mortgage company and they wanted me to sign a document saying I wouldn't do "anything else in Real estate". It was in a pack of stuff I had to sign. "Forgot" to sign it. Everything was fine for about a year before they found I didn't sign it. I signed it but kept appraising. It was like not going to the big party with my mistress because my wife would find out and I couldn't bring my wife because the mistress would find out. Finally decided that doing a good job on one profession was better than doing a half assed job on two.

I chose appraising because that is what I excel at and what I love. Best decision I made! Doing well at it. Yes, there are headaches (that is why it is a job and not a hobby). However, they are headaches I can solve, something that was the worst about loan originating. Also, because of my experience in loan originating, I have first hand knowledge of my client's business. I know what underwriters are looking for in an appraisal. I also know how to handle difficult situations, knowing that 98% of the time underwriters are not asking for crap because they want to, but because they need to. Makes me a better appraiser.

 

[Rick Stillman]

I know what underwriters are looking for in an appraisal. I also know how to handle difficult situations, knowing that 98% of the time underwriters are not asking for crap because they want to, but because they need to. Makes me a better appraiser.

Do tell. I'd sure like to know why they "need" the "crap" they ask for. I'm not talking about the obvious deficiency or the clear cut mistake. I'm one of the most reasonable people on the planet - if something needs clarification, I'll do it - fast and with no problems. The vast majority don't have an inborn need to torment people, thank goodness, but that 5% is one ongoing pain - I fire them after the fourth poke in the eye. I can love myself for being so generous by giving them four tries at riding me around the arena - but, then that's enough. I still maintain that I'm a professional - and I don't work with people that can't understand my work. That's not my problem, and their lack of understanding is not going to be an issue for me. But I'll play along for four times anyway - just to see if they're as stupid as they act, or just plain mean. They're never stupid.

I recently came across an underwriter that floored me with her common sense and get it done attitude. I was discussing why I was not going to be pushed around at their whim for the most microscopic item they managed to find - and they had to dig deep for it. She told me that, being in the business for over 20 years, she knew how to read an appraisal inside out, and she certainly recognized someone being an azz when she saw it. To remedy that, she told the investor: "well, do you want to invest in this or not? If you don't want to make money, let me know, because I have a long list of investors that won't try to make life difficult for everyone. Just say the word, and I'll find another investor. Right now." They always backed down. Now, she wasn't being a pushy person by any means - but when an appraisal scores above a 9, on a scale of 1 to 10, the correct response is: "Thank you very much for doing such a good job Sir." I have NO problem telling the professionals that work on my behalf that (plumber, CPA - even my fast oil change shop!).

I am too old to play the underwriter games. I don't have time. 95% of my clients know quality when they see it, AND appreciate it. I don't need the 5% whiners club calling me.

So if you can add any insight to the "poor underwriters dilemma" Tom, I'd sure like to hear it. The PITA underwriters I've encountered, although very few, don't deserve to even have the job they have. Move over, you cranky witch, and let someone that has a results orientated productive mindset do your job. The cranks can work at 7/11 midnight shift - can't cause too many problems there!

I completely understand your frustration fcrecords. We are only human, and will only tolerate so much for so long. I wish we could go out for a few beers, as I would rough you up and recharge you so you could tolerate the insanity in this line of work better! Drill Sargents have made a lot of fighters out of lovers, you know... I will definitely miss your posts - you are on my "must read" list whenever I see your commentary. I can't remember ever disagreeing with you either!

 

[Tom4value]

Do tell. I'd sure like to know why they "need" the "crap" they ask for. I'm not talking about the obvious deficiency or the clear cut mistake. I'm one of the most reasonable people on the planet - if something needs clarification, I'll do it - fast and with no problems. The vast majority don't have an inborn need to torment people, thank goodness, but that 5% is one ongoing pain - I fire them after the fourth poke in the eye. I can love myself for being so generous by giving them four tries at riding me around the arena - but, then that's enough. I still maintain that I'm a professional - and I don't work with people that can't understand my work. That's not my problem, and their lack of understanding is not going to be an issue for me. But I'll play along for four times anyway - just to see if they're as stupid as they act, or just plain mean. They're never stupid.

I recently came across an underwriter that floored me with her common sense and get it done attitude. I was discussing why I was not going to be pushed around at their whim for the most microscopic item they managed to find - and they had to dig deep for it. She told me that, being in the business for over 20 years, she knew how to read an appraisal inside out, and she certainly recognized someone being an azz when she saw it. To remedy that, she told the investor: "well, do you want to invest in this or not? If you don't want to make money, let me know, because I have a long list of investors that won't try to make life difficult for everyone. Just say the word, and I'll find another investor. Right now." They always backed down. Now, she wasn't being a pushy person by any means - but when an appraisal scores above a 9, on a scale of 1 to 10, the correct response is: "Thank you very much for doing such a good job Sir." I have NO problem telling the professionals that work on my behalf that (plumber, CPA - even my fast oil change shop!).

I am too old to play the underwriter games. I don't have time. 95% of my clients know quality when they see it, AND appreciate it. I don't need the 5% whiners club calling me.

So if you can add any insight to the "poor underwriters dilemma" Tom, I'd sure like to hear it. The PITA underwriters I've encountered, although very few, don't deserve to even have the job they have. Move over, you cranky witch, and let someone that has a results orientated productive mindset do your job. The cranks can work at 7/11 midnight shift - can't cause too many problems there!

I completely understand your frustration fcrecords. We are only human, and will only tolerate so much for so long. I wish we could go out for a few beers, as I would rough you up and recharge you so you could tolerate the insanity in this line of work better! Drill Sargents have made a lot of fighters out of lovers, you know... I will definitely miss your posts - you are on my "must read" list whenever I see your commentary. I can't remember ever disagreeing with you either!

Wow! A lot to digest here! Regarding "poor underwriter's dilemma" (don't know why you put in quotations. I didn't say that), I know that underwriters ask for something for one reason and one reason only, because they are told to by their interpretation of the guidelines. Sometimes they are right and I am wrong (see my post earlier in the week). Other times they are wrong and let them know. I once was asked for two comps from outside the subject condo development (as per Fannie Mae guidelines). I told her that only pertains to condo developments that are not yet complete. She saw the error of her ways and dropped the condition.

 

[Tru Red]

Best of luck in whatever you do. I was 15 years in banking. Since leaving that in the late 90's I go back and forth between being a real estate broker and being a real estate appraiser. Keep your license...very difficult to get one. I keep buying Lottery tickets though.

 

[Deleted member 134708]

I’m out too.

With full employment 3.5% and can’t go lower. Loads of cash out there and appraising ain’t it. Only profession going backwards. Still get $270 1004’s in my email.

I say sure. Send on over and ignore them.

Good to know and glad I learned how the fudge is made. But no thanks to minimum wage.

Doesn’t take a monkey to see if your job is going back in pay under full employment. Your job is on its way out and won’t be around much longer as it’s not value adding to “the market”

May be value adding to a text book. But reality don’t live in a textbook.

 

[TRESinc]

Still get $270 1004’s in my email.

I say sure. Send on over and ignore them.

talk about unprofessional... sure, cause extra delays for the borrower because you don't like a company in the chain that the borrower most likely knew nothing about and certainly didn't choose. maybe it is best you are leaving.

 

[Non Sequitur]

talk about unprofessional... sure, cause extra delays for the borrower because you don't like a company in the chain that the borrower most likely knew nothing about and certainly didn't choose. maybe it is best you are leaving.

I’m sorry TRESinc, continued requests/solicitations to a non responsive vendor is an AMC failure not the vendor’s failure.