Just to keep you all up in arms!

[Pamela Crowley (Florida)]

Just found this article - again. Since I do like to keep you all up in arms, I though I'd post it again.

http://www.appraisal.com/news/press_releas...ses/article.pdf

Get MAD... stay MAD...

DO SOMETHING :!: :!: :!: :twisted: :twisted: :twisted:

Get involved with your state board.

DON'T do witch hunt reviews but, if it's really bad, SEND IT IN TO YOUR STATE BOARD :!: :!: :!:

File complaints with whatever state agencies even might be applicable when ANY lender/loan officer or real estate agent applies any kind of improper pressure or asks for a comp check or ask for a predetermined value.

JUST DO IT :!:

 

[RGAcker]

:twisted: :twisted: Pam, I cannot believe - yes I can that the AI is turning there backs on us residential appraisers and really sticking it to us with our own work. I joined the local AI when I was an appraisal baby :? and it turned out to full of Commercial Appraisers in the pretty suites :roll:
I became the State Affiliate representitive or something like that and went to several meetings. Every time I had input, and beleive me this was hell-arious :lol: they would say ahuh, yea, ok- lets move on!! I though about showing up in a suite, not that I have a closet full, but I thought it best togo all 'natural' I mean like I dress when I appraise. I like to crawl around alot, you know spider webs :wink: Well I did not stick around since I really felt out of place. I guess I should have because I did not hear about AI ready until 1-2 years ago. Through the Appraiser communicator-Henry Harrisons magizine. (That guy made a mint off of us appraisers :?: ) I could not beleive it. How could they :!: Well this is typical for this business where colleagues trash good appraisals because they are :mrgreen: with envy that they cannot produce quality appraisals themselves. I'm shure !! The appraisal Institute has overstepped their boundries on this one but again, what can one do. They have stolen the hen house not just raided it. I am :twisted: :evil: regarding this. What can this lowly appraiser do? What ever I do I have to do it after I take FHA on though :lol: . RGAcker Please excuse errors where is that darn spell checker ???

 

[Dave Doering]

I downloaded the article you posted and read it. I would be very interested in any Institute member's personal take on this. It seems to me, as well, that the Appraisal Institute with its AIRD (Appraisal Institute Residential Database) and its support of the XML-based standard is helping to pave the way for the eminent decline of the residential appraisal profession, as we know it.

In the article, Mr. Yellen of Appraisal.com is asked: "Some appraisers believe he AIRD will steal their data." His response is "Absolutely not. In order for the data to going to the AIRD, the appraiser has to grant their permission. Of course, some lending institutions may require participation if the appraiser wants to do business with them." As AVMs continue to reduce the available work for appraisers as a result of having better data, how many appraisers will be forced to "grant their permission" to use their data in order to keep their doors open---only to further fuel the AVM that is taking away their livelihood.

Is it in the best interest of the appraisal profession for the Appraisal Institute to be a party to a process that puts appraisers in a position of being coerced where the product of their work is subject to being confiscated and used to minimize their future need :?: Abraham Lincoln is quoted as saying "A lawyer's opinion is his stock and trade." I believe similarly that an appraiser's data is his (or her) stock and trade.

In my opinion, the Appraisal Institute for whatever reason or interest they presume to represent are selling a significant portion of their constituent members (namely its SRA members) as well as the appraisal profession as a whole down the river. Is the income generated from this venture with Washington Mutual, Bradford Technologies and other proponents of AVMS and data mining artists worth damaging the profession that they profess to be the "preeminent voice"?

 

[Steven Bonner]

“Access to a common pool of data is a solution that is going to benefit every-one.” Like some other comments made in that article as well as those made on this forum some time back, they seem to be more self serving than fact based. No one has demonstrated how a national database of residential sales will benefit appraisers (except for the pennies they get for selling the data to the AI that will then cost them hundreds or thousands in lost business) or consumers.

In my opinion it will result in many appraisers being put out of business and consumers and taxpayers will be at the mercy of corporate and commission paid lending officer integrity. But it is obvious how it will profit national lenders, AVM’s, the AI and the other snake oil shysters that promote the notion that an independent live third party is no longer needed in today’s lending process to estimate the value of the collateral.

I believe the initiative is intended to be a windfall to the AI, FNC, AVM’s and slick promoters by touting the benefits to lenders of reducing their costs at the expense of appraisers and the general public. And the way they intend to accomplish this is to convince lenders that to make more money (that should take a lot of talking) they just have to require appraisers to be AI Ready.

I’m glad to see A La Mode and the boycott ares being a thorn in the side of this scheme. I applaud Dave Biggers for his commitment and integrity as well as Steve Keohane for his dedication.to the boycott. It seems apparent that some appraisal software company owners believe the real money is in supporting this scheme instead of their appraisal software customers.

 

[Michael Reilly]

Bankers want realtor to stay out of the mortgage business, and because of their political and financial muscle, so far they have been effective.

Appraisers want bankers to stay out of the appraisal business, but do to a lack of political and financial muscle, well you all get the point.

My 2 cents

 

[Mountain Man]

Well, the Realtors have been fighting their own fight (for a couple of years) to keep lenders out of the brokerage business. It has been like a tug-o-war contest with one end starting to gain ground, then the other will through cash out to the lobbyist to pull back harder. No on in the middle mud yet, but it has been close.
Mell.

 

[Theresa in Oregon]

Sorry to be so in the dark, but I've not been reading the forum long. Please tell me about the boycott. Who/what is being boycotted?

 

[Tiny280]

If the AIRD AVM is to be the bigger & better (NO APPRAISER NEEDED) AVM, how do they propose the fools supplying the data get around the GLB Privacy Act. Consider, if the AIRD's AVM isn't going to use information that would not otherwise be publicly available, then just how will it be better than the existing AVMs?

The answer, I suspect, is that they will use ALL information contained in each report, regardless of the appraiser's "control" settings, in total disregard of the appraisers' settings and the GLB Privacy act. After all, the LIABILITY rests solely with the appraiser, so why should they care a whit?

Those of you who are providing data to this monster AVM, consider the term "EATING YOUR SEED CORN". Today's minimal gain is the loss of all tomorrows.

 

[Claude From NY]

I checked to see who would actually participate in this self-destruction. I found MANY area (Long Island) appraisers and appraisal firms listed at Appraisal.com some of whom read and post to this forum! :evil:

 

[bobburnitt]

Every time I read an article like that, the article states something to the effect: this new technology will not make appraisers obsolete, it will make those with good business minds more efficient and profitable. My question is----HOW???

It is the biggest bunch of caca de toro I have ever heard.

I can promise you one thing though, it is coming and it ain't gonna be good.

BB in Texas