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MARYMCKENNA

Thread Starter
Freshman Member
Joined
May 27, 2003
Professional Status
Licensed Appraiser
State
Arizona
I have been doeing REO's and finally ran into a live person from a property preservation company. So being nosey like I am, asked to see the sheet they were filling out. They pretty much do exteriors to see what's what from what I found out. Guess what one of the blank lines was? Estimated value....nice huh? So other than the BPO's we are also now up against "property inspectors"...Any have any idea if the Banks/lenders are using these "values"?
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Appears they want anybody else's opinion as long as it's not from a competent, ethical, honest appraiser!!!!!
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Appears they want anybody else's opinion as long as it's not from a competent, ethical, honest appraiser!!!!!

They actually dont even want this from skippy. Its all about being penny wise and pound foolish! The Quick, Lean and Cheap crowd has not learned any lessons. This is why I strongly support the following: denial of mortgage company claims to PMI Companies... the Buy Back demands by GSE's... the Lawsuits by Wall Street Mortgage Back Securities Investors... the UPCOMING lawsuits by Mortgage Bank Stock holders... The class actions suits of consumers vicitimized by Mortgage Lenders... The heavy regulation increase and oversight of the Federal Government over ALL Mortgage lenders... Lawsuits by State AG's againts AMC's and Lenders for RESPA, RICO, and other serious violations of law...

The list goes on and on!

So who actually has violated the Public Trust!
 
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