Loan Officer Working As Appraiser

[Linda M Lynch]

My friend just moved to Wisconson a few months ago and got his license. He's been working under a supervisor for a couple of years and has plenty of experience, education, etc. But, what really surprised me was that Wisconsin only requires 500 hours of experience and no minimum length of time.

As a Wisconsin licensed appraiser, let me assure you that this is NOT true for someone getting their license in Wisconsin. It may be true for someone previously licensed in another state.....I don't know since I've not been in that situation. But for someone getting their license in Wisconsin it is 2000 hours supervised over a specified period of time (can't remember how long) plus 120 classroom hours, plus state licensing exam, plus CEU every 2 years.

 

[Ray Miller]

Until January 1, 04, it takes 90 hours class room and 500 hours of appraisals. After January 1, it anti goes up to 120 hours class room and 2000 hrs. of field work (200 appraisals).

 

[graindart]

Linda, here's a link to the Wisconsin requirements stating 500 hours and no time period for licensure:

Wisconsin License

 

[Mike Simpson]

Larry-

That's a very good point (agents representing both parties to a transaction). I think many are intimidated by our qualifications and just looking for an angle to squash the competition. Most agents don't relish competing with an honest, ethical competitor who certainly understands value better than them.

-Mike

 

[Linda M Lynch]

Thanks for the correction. Guess I was remembering certification rather than licensing. How the years blur one's memory.

 

[Thomas N. Morgan]

This guy is trying to tempt you with the prospect of easy money. You have no obligation whatever to help this person.

Before getting into real sales and appraising, I had a small business for 11 years, an employment agency, 1964 to 1975. This guy sounds like some of the fast talkers I ran into. In my view, he cannot be trusted.

Tom

 

[jtrotta]

Think I'm gonna have ta back Tom on this un; you would be allowing him to view and perhaps cause an unknown amount of damage to someone else's earning power (other LO's & Lenders). Would he kill a deal so that he could abscound with the info and re-write the loan under his company :question:

Harpoon that shark and put em back in the septic tank whence he came from :mrgreen:

I would dumped him at the interview B)


h34r:

 

[Tim The Enchanter]

The guy sounds like trouble that you don't need.

 

[TEL2002]

Ray, be fleet of foot.

No matter how you paint and decorate it, an outhouse still smells like an outhouse.

 

[Tim Hicks (Texas)]

Gee, sounds like a sure fire way to make all your deals work. Just have one of the loan officers do all the appraisals for the mortgage company. Conflict of interest? Certainly!!!