July 2008 ASC Q&a- Wink Wink Comp Comp

[Fred]

but it would help to know where you are coming from.

No, it wouldn't. I am not coming FROM anywhere.

It's this simple. I think this months QA's responses are correct. Almost all of them are. I don't think the ones in March were correct. June of last year (and AO-18) are unintelligble at best.

Can USPAP be changed to get rid of "bad" comp checks only? I don't see how. Does value shopping by MBs make loan portfolios risky? Yes. Would getting MB's out of selecting appraisers make a sounder loan market ? Yes. Is there anything further in this topic worth discussing? I don't think so.

 

[Hamlet]

No, it wouldn't. I am not coming FROM anywhere.

It's this simple. I think this months QA's responses are correct. Almost all of them are. I don't think the ones in March were correct. June of last year (and AO-18) are unintelligble at best.

Can USPAP be changed to get rid of "bad" comp checks only? I don't see how. Does value shopping by MBs make loan portfolios risky? Yes. Would getting MB's out of selecting appraisers make a sounder loan market ? Yes. Is there anything further in this topic worth discussing? I don't think so.

I agree...we've beaten this one dead...until next month! :icon_mrgreen:

 

[Mr Rex]

Yeah, why does USPAP need changing, when Coumo has cut the nuts off all the MBs beastardizing the process. There are some redeeming qualities to the HVCC, lets just hope that the elimination of MBs ordering is included in the final product. Of course, I hear that MBs are beating down the doors of the AMCs for jobs.:new_all_coholic:

 

[Mark to market]

It is not a surprise that the Q&A affirmed that appraisers may provide an opinion of value if it is USPAP compliant. After all that is what we do for a living.

What is a surprise is that a few otherwise knowledgeable appraisers are having such a difficult time grasping the concept.

 

[Carnivore]

What is a surprise is that a few otherwise knowledgeable appraisers are having such a difficult time grasping the concept.

There not having trouble grasping anything except that they(and I) are almost powerless to do anything about the problems we have in the industry.

Yes, I say "No". Not because they can not be done legally, but because they are a non-profit exercise in futility when it comes to lending assignments. On the other hand it is a very useful service when I have legal assignments as I do currently. It is also useful service when I complete estate planning work.

Rhetorically speaking MB's should be lined up and killed! :new_2gunsfiring_v1:

 

[Mr Rex]

There not having trouble grasping anything except that they(and I) are almost powerless to do anything about the problems we have in the industry.

Yes, I say "No". Not because they can not be done legally, but because they are a non-profit exercise in futility when it comes to lending assignments. On the other hand it is a very useful service when I have legal assignments as I do currently. It is also useful service when I complete estate planning work.

Bottom line is that MB's should be lined up and killed! :new_2gunsfiring_v1:

Woud it be considered self defense or mercy killing?

 

[DTB]

No, it wouldn't. I am not coming FROM anywhere.

We all are coming from SOMEWHERE and some of us even know where we are going TO.

 

[Hamlet]

Woud it be considered self defense or mercy killing?

Both, I could devise a slower and more painful method of execution, but our humanity prevents such barbarity.

 

[PropertyEconomics]

There not having trouble grasping anything except that they(and I) are almost powerless to do anything about the problems we have in the industry.

Yes, I say "No". Not because they can not be done legally, but because they are a non-profit exercise in futility when it comes to lending assignments. On the other hand it is a very useful service when I have legal assignments as I do currently. It is also useful service when I complete estate planning work.

Bottom line is that MB's should be lined up and killed! :new_2gunsfiring_v1:

Pardon me but I suggest you change this post, its DISGUSTING and frankly speaks horrible volumes about our business and those in it.
Let me ask this, should mortgage brokers make the same comment about appraisers, will you volunteer to be first in line to test their marksmanship?

 

[Carnivore]

Pardon me but I suggest you change this post, its DISGUSTING and frankly speaks horrible volumes about our business and those in it.
Let me ask this, should mortgage brokers make the same comment about appraisers, will you volunteer to be first in line to test their marksmanship?

Rhetorically speaking MB's should be lined up and killed! :new_2gunsfiring_v1:

Just for you, how is figuratively speaking MB's should be lines up and ...