Oh Lordy.OCWEN Statement

[Frederick]

They can't throw them off the vendor list because they are the lowest cost vendors.

 

[Riick]

Will someone be sure to post when Ocwen makes it's apology / retraction ??
---or gets it's corporate head out of it's own A55?

Thanks, now I can get back to important stuff, like tending the garden
so the family can eat something green, brewing up gas-ahol from the
weeds, patching my tattered clothes, and crushing the aluminum cans I trashpicked.

Oh.. and if they don't apologize / retract -- Will someon post their stock symbol, I need to sell them short as they WILL be losing all major contracts for appraisals.

I believe Yah can't sell appraisals without you got appraisers to make one.

 

[Caterina Platt]

They can't throw them off the vendor list because they are the lowest cost vendors.

Exactly, Frederick. They hit that lowest fee provider all day long, it's all that matters, you know.

 

[TN Pro]

This is an example of a decent company going bad, into the absurd.
Over the years i have provided service to this company, the only issue i have had is communication with their customer service.
Without my prompting, they negotiated a fee with me from the beginning that was $25 higher than my regular fee. And no, i don't have low fees.
They have never been a higher volume client, more consistant than anything . However, the first time they pull that trip free crap will be the last time we do business.
The problem is, many appraisers are unwilling to cut there once good clients loose when they eventually turn bad, and these clients know that which is why they do it.

Dean

 

[c w d]

There several chapters on Adobe Photoshop in the book "Appraising for Skippy".

In the chapter after "Cleaning Sites of Junked Cars and Overturned Oil Drums, there is a short side bar on adding dates to photos and suggested fonts. I think it is found in the Chapter on "Seasonal Challenges-Lawn Greening and Snow Removal"

Do these people have a brain? Skippy doesn't even need Photoshop. There are dozens of free editing programs. Once they figure that out,maybe they will ask for a self portrait holding up todays paper and the headline.

Note: When things get slow, Skippy takes on reviews. None of this driving around to see the subject or the comps. Just make it a desk review and use "stock" picture. Yes... Skippy does reviews..and drive by appraisals and also worries about the price of gas. m2:

Ah, but frankly they don't care if skippy does or doesn't inspect the subject. The letter is nothing more than a way to demonstrate they had taken reasonable steps to curtail fraudulent appraisals when/if the sh&t hits the fan. Then they can go to court and say "See, we discovered this was happening. We told them to stop. We were responsible. It's the appraisers who committed the fraud, not us!!!"

I particularly like how they sent that out with the notice that the appraiser is only going to be paid at cost for their time and efforts. I would not doubt if they sent out the notice to time stamp as a means to inform their appraisers that if the photo's were time stamped it wouldn't matter if they're MLS photos or not.

 

[saxon]

They can't throw them off the vendor list because they are the lowest cost vendors.

BWWWWWWWWWWWWWAAAAAAAAAAAAAHHAHAHAHAHAHAHAHA

 

[Bama Bayou]

On a house appraisal obviously original photos taken concurrent with the appraisal are necessary. However, think about this. Part of my market contains about 15K mid to high rise condos in about 250 projects. I have original and recent photos of most of them. It is not the easiest thing in the world to shoot 25 story buildings, especially the rear shot from the beach. Try it at high tide in the rain. You have to walk about 1/4 mile through sand to frame the whole building.

Also, it is now high season and if the sun is out you may get 100 people in the front photo and 1000 in the rear photo. Photoshop is no help-if I try to erase all the people on the balconies the place would look like a Beirut hotel back in the 80's. The beach view would show about 10,000 people during some weekends.

I generally use file (my own) photos taken during the winter when occupancy is about 5%.

I don't work for these folks but I will continue to use file photos for these buildings. If anyone wants proof that I looked at the property all they have to do is take a look at the interior photos.

 

[Bama Bayou]

It would make more sense for this lender to simply fire any appraiser who used MLS photos for the subject. This notice basically says "we know you are doing these appraisals without inspecting the subject. Please stop being so obvious. At least pretend you have been there."

Some appraisers may have come to the concusion that they can't make a living by taking the time to actually inspect the subject and drive the comps. If I only charge $150 I too would go out of business. They are going to keep doing this kind of crap until they go out of business or lose their license. The quickest way for them to go out of business is by lenders getting rid of the incompetent and crooked.

 

[Non Sequitur]

I don't work for these folks but I will continue to use file photos for these buildings.

I'm sure when you explain in the report just as you did here it isn't a problem.

 

[Bama Bayou]

I'm sure when you explain in the report just as you did here it isn't a problem.

It has not been, because almost all of the condo deals now are for real banks who actually expect to get paid back. Their days may be numbered but I really like it when a real banker from a real bank orders the appraisal and reviews it themselves. If I gave any of these bankers an MLS photo for the subject I don't think they would ever call me back. They must not mind when I come in under contract because they keep sending work.

I sure do miss the days when most of the lenders had the same attitude. Now we have people who want that really good bank work to go through an AMC because a big AMC got sued for pressuring appraisers. WTF?