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Interesting Stats!

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larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
Had a chance to visit with the director of our appraisal division for a little while this morning while we were getting my daughter's license today. I asked her if they were getting very many complaints. She rolled her eyes and said you can't believe the number of complaints. She never gave me a number but I could tell that she is overwhelmed. I then asked her for a breakdown of who the complaints were coming from. For NV, the breakdown is as follows:

As you might expect, 50% are from disgruntled borrowers. 25% are from lenders. Of this number, very few are from lenders unhappy because the appraiser didn't hit the number. The vast majority are from lenders concerned about fraudulent or misleading reports. The remaining 25% are from review appraisers.

Disgruntled borrowers have their own agenda and likely don't care how good the appraisal is provided they get their loan. I was pleased that approximately 50% of the complaints come from individuals that should know something about the appraisal process.
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
25% of the complaints come from review appraisers! I just got my head handed to me (it's OK--it was empty anyway) on another post regarding this very issue, and here we have 25%--there you go folks!

Another 25% from lenders worried about fraudulent or misleading reports. Number Hitters beware--there are honest lenders out there that won't tolerate shenanigans--let's see if you can guess which ones.

I say there's a market out there for honest, ethical appraiser's working for those who've been damaged by by the fraudsters (oh I've gone & done it again...let's see if I can fix this before I get unloaded on)--I mean less honest, less ethical appraisers (how's that?).

-Mike
 

Ghost Rider

Senior Member
Joined
Apr 27, 2003
Professional Status
Banking/Mortgage Industry
State
Connecticut
VERY intersting stats......

I didn't mean to start a thread that got you beat up so badly Mike......My only concern about turning other aprpaisers in is the liable lawsuits that could follow. Good to hear that it's being done by others!!!! I'll just keep my file of "competition appraisals" in my file cabinet, and when I feel like being an ***, send the whole damn thing into the state
 

USPAP Compliant

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
[/QUOTE]My only concern about turning other aprpaisers in is the liable lawsuits that could follow
Let me know when you see a successful lawsuit for libel due to a complaint filed with a licensing board. Not very likely.

When you file a complaint, you aledge certain FACTS. They are either true are untrue. If they are untrue the board investigation should find out quick enough and the case will be dismissed. If the facts are found to be true the state board decides what to do next....not the appraiser who filed the complaint.

I don't know why anyone would waste their time filing a frivoulus complaint. In 12 years I have filed about 12-15 complaints and all were based on FACTS...not opinions.
Some were dismissed with a warning and some resulted in a suspension, but ALL were found to be factual. I have never worried one single minute about being sued for a valid complaint.
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
MH-

You can start a thread anytime that'll get me beat up. To tell you the truth...I like it...seriously. I'm challenged by alternate view points--I'm not always right (though I may think so at the time), and I enjoy testing my own mettle against those I feel are amongst the most knowlegdeable group I've ever encountered. Besides, a little chewing helps to build a thicker hide.

So despite the fact you're wrong (kidding), bring it on--I'm having fun & need the escape from work from time to time.

Have a Happy Holiday--see you (proverbially speaking) next week.

-Mike
 
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