No College Degree for Cert Generals or Residential Appraisers

[glenn walker]

And you were just checking the boxes with no explanations? And the lender accepted those?

No we explained what we did but didn't write books. As a reviewer inside lender I learned that Underwriters and users read whats important and not long winded explanations. Appraisers are often their own worst enemy's.

The skill is to keep it as simple as possible so anyone can understand why you did something. 90% of all Stips by our Underwriters were self inflicted by the appraisers writing themselves down a rabbit hole to hell when a simple short paragraph would have been sufficient .

 

[Surf Cat]

I have canned comments to protect my as* to be put into the report.
And I would custom fit them related to the property.
My comments are to convince the reader of my value and at same time protect myself.

In another thread you said you didn't believe in canned comments and that they didn't work.

I don't believe in canned comments either. I do write commentary regarding say, the market conditions and why I chose declining citing the methodologies utilized.

 

[Surf Cat]

Sounds like you waited to be forced into using modern technology it's not that difficult if you have the right tools. Lmao )

You got me there. Additionally, I didn't have Uncle Billy as a mentor.

 

[Fernando]

In another thread you said you didn't believe in canned comments and that they didn't work.

When reviewers have specific requests, you can't write canned comments.

I don't believe in canned comments either. I do write commentary regarding say, the market conditions and why I chose declining citing the methodologies utilized.

I understand reviewers don't like (I don't either) to read pages and pages especially with addenda.
It's psychological and want my reader/reviewer to easily accept my findings and make their time less taxing.
Thus, I try to be succinct in my comments and if not, shrink my fonts to fit into the fields.

 

[Surf Cat]

Thus, I try to be succinct in my comments and if not, shrink my fonts to fit into the fields.

If you can't baffle em with BS.... shrink the font so they can't read it! Lol

 

[glenn walker]

You got me there. Additionally, I didn't have Uncle Billy as a mentor.

Uncle Billy was a SREA before the Appraisal Institute merged and made the MAI but allowed you to keep the SREA designation. He was the Chief Appraiser at a bank in Beverly Hills in the seventies and mid nineties that's where he met the trophy wife's who were high end Realtors selling the rich and famous estates and the bank used SREA and later MAIs to complete estate size homes. No software and no computers and IBM Typewriters and it took writing skills because they were not form reports. I looked at many old reports and frankly it was a skill level I never had.

He had a lot of street smarts and his downfall was hot wealthy younger high maintenance women and cars. Finally after the 3rd trophy wife bankrupted him when he was about 69 years old he crashed into a bottle went broke and lived with me until he died at 92 in his chair.

 

[J Grant]

Not efficient for the lenders to make 110 phone calls in order to place 20 appraisal assignments when they can make one phone call and get those assignments place and managed.

The AMC appraisers do no marketing or collection of their own, so that's more efficient for them, too. It just doesn't pay as well.

Increasing or decreasing fees would have no bearing on the efficiency angle. It takes them just as much effort to place the assignment whether the prevailing fee in the market is an $800 fee or a $200 fee.

Back in the day appraisers used to understand the meaning of the truism "the real estate market is imperfect and inefficient". Not no more, I guess.

Of course using an AMC is more efficent for a lender. They should pay for the AMC service it.

The appraiser loses out with the so-called efficiency - it is the same amount of effort to apply to an AMC as it is to apply for a lender panel. Collection: The days of deadbeat mortgage brokers are gone. r. Direct lender clients deposit into the appraiser's account like clockwork. The frequent posts here warning about being stiffed all refer to deadbeat AMC's not paying.

By having large portions of the appraisal fee go to a third party, the appraiser is subsidizing the AMC's efficiency to the lender.

 

[alebrewer]

And here we go again...

 

[Zoe]

Tell me if I am wrong. Originally the degree requirement was intended to increase professionalism for licensed appraisers.

Step 2 is appraisal management companies gained ground on commingling of fees and hold licenses in multiple States.

Step 3. Would eliminating degree help appraisal management companies and "public trust"?

 

[BRCJR]

Lenders can set up a residential rotating list, based upon their overall regional footprint and allow any employee, to include a loan officer, to order an appraisal.

page 6 of 45

For residential transactions, loan production staff can use a revolving, pre-approved appraiser list, provided the development and maintenance of
the list is not under their control.

Is it a situation that could be abused, yes. Would it be much different than an AMC? Maybe, maybe not.......at least the "full fee" would get to the appraiser.