Loss of potential work assignments

[Robert Olchin]

I finally found or got found and am now doing appraisals with a good split. I work for a company on the Front Range in Colorado and I do thier work assignments over a 6 county area on the Western Slope(over the Continental Divide). The people at the main office are very supportive and I beleive this to be a good oppertunity for both parties.

I work out of my home where appraisal requests are faxed over from the main office (120 miles away). I have now preformed about 10 appraisals, first just the inspections and records research, comps etc. The senior appraisers in the main office finish the complete appraisals.

Last week I did my first from beginning to end, even delivered it to the lender! The great support from the main office made this possible.

I see a patern of appraisal request comming in, that when I call the owners to make an appointment they are not ready or feel the are getting "pushed" by the mortage compinies. I have to re-schedule my time and fell at a loose that a potential appraisal assignment was lost.

Is thie the "norm' for the proffession?

 

[Pamela Crowley (Florida)]

Robert,

Has your supervisor gone with you on the inspections? If not, why not? Do you have copies of the appraisals you've been involved with? I mean a copy of the one that was sent to the lender. Do you have 100% control of your digital signature? Does your supervisor have 100% control of his/her digital signature? Did your supervisor sign the report as the Appraiser or as the Supervisor? If signed as the supervisor, did they check the box stating they did inspect or did not inspect? Are you signing as the Appraiser?

Think about the answers to these questions. I have a feeling that some of your answers might indicate fraudulent activity. I hope I'm wrong. If you've done 10 appraisals so far, you are far from ready to be doing inspections on your own.

That said, the lenders that send orders hoping the Appraiser can pull the deal together for them are part of the slimy bottom of barrel. I would also question orders like this and try not to deal with lenders that do that.

Oh... one more question.... how are you getting paid?

(Please accept my apology in advance for not being 'delicate'.)

 

[Robert Olchin]

Thanks foe the reply-At first I was hesitant to do inspections and photo work. I went down to thier offices and spent a few days training on software programs, meeting other appraisers and going out on inspections.

I have also gone out many times with a local solo appraiser who I hope to do work for in the future.

I feel that the review process is very through and the clients are receiving a honest appraisal.My first appraisal was reviewed by 3 senior appraisers with me.

Only on my last appraisal did I sign.

Yes, the appraisal is indicating that the senior appraiser did not go out on the inspection. My backround is very extensive in inspections from past work. I fell that the client is again receiving a proffessional opinion for thier monies.

I have copies of my work completed. My digital signiture has not been used yet on any work. The president of the company is getting it processed for use.

Thanks for the tip on the slimy bottom feeders. As time goes on I hope to gather other clients.

I povide a unique service, as I am in a remote area and able to respond on a timely basis covering a large area. (great learing experiences)

I believe that honesty is Always the best policy and I also rest heavy on my ethics and good communication skills.

These trates alone will improve the chances of suscess.

I work on a 50/50 split and there is also a % bonu for new work brought to the company.

My judging of people over the years(48) tells me that this will be a positive experience. P.S.- Where is spell ck on here?[/b]

 

[Robert Olchin]

Hello again- Just as I was typing and posting my messege, I received my digital sig. you spoke of with very specific instrucions on how to use and to keep it very safe.

I feel this forum is a great place to learn and speak with very helpful folks- thanks again Rob

 

[Anonymous]

Robert,
Were you doing inspections of properties and then submitting the info for another appraiser to prepare the report? I don't see how the other appraiser can prepare a report on a property which he did not inspect.

As to the customers feeling pressured. There are some mortgage brokers who quickly order an appraisal because they figure that once the customer pays for the appraisal they will go through with the deal. I know of several companies which do this and I avoid them.

 

[Mike Garrett RAA]

there is no spell checker....it's up to you! Sounds like you are skating on some pretty thin ice...be verwwwwy careful!

 

[Patti Jury]

LOL.. just reading your post I can almost namethe company you are dealing with.. I bet my guess would be right on the mark...Ask yourself.. how much do I like my license.. how hard did I work to get it.. how bad do I want to keep it!

 

[Dee Dee]

Hi Robert,

Usually if the homeowner is hesitant about carrying through on the inspection it's a sign that the 'client', the lender, is pushy and more often than not the homeowner didn't find them at a local lending business.

Just as there are sweat shops for appraisers, there are also sweat shops for mortgage brokers, and they often work hand-in-hand. Many inexperienced mortgage brokers cut their teeth working for internet-based lending companies or mass-marketed television ads, following up on leads generated via computer applications or phone calls, and they are VERY aggressive. One of the favorite ways that they get the homeowner to commit is to make big promises and quickly schedule an appraisal, often before the homeowner feels comfortable that the lender is one that is serving them well. My experience is that the majority of homeowners who seek lenders on the net or mass-advertising have not-so-hot credit scores, and are also the most likely to find unexpected fees and interest rates tacked onto their loan at the last moment.

There are hundreds, even thousands of things about the appraisal business that are not taught in the classes that you took to get your registered license. Since I don't know who you're working with I can't give you an opinion as to their reputation, but I can tell you that there are several red flags in your posts that indicate that they are not adequately mentoring you. Chances are the other appraisers in your area won't do business with them for good reasons, otherwise they wouldn't be working with a rookie from such a distance.

I know that it's easy to feel defensive when other appraisers tell you things like this. It's tough to find a mentor when you're a newbie, and the last thing that we want to hear about the supervisor that's given us our first break is that they might be unethical or inadequate. Instead we want to believe that they are the one who 'discovered' how talented and responsible we are, and this makes the manipulation and deception easy for them.

Take heed to the advice given to you on this forum. What they don't teach you in those classes that you took you will learn here if you are patient and ask questions.

Keep trying to get in with a local appraiser who can mentor you!

 

[Bemis Pownall]

Patti
I was just thinking the same thing!
(AA)

:icecream:

 

[Ted Martin]

I wouldn't worry about the borrowers dragging their feet, It's not your job to push them into a loan. I would worry about your supervisors writting a report on a property that they never looked at. I don't think Fannie or Freddie will accept those ten report so at some future point they will get kicked back.