PAREA program

[J Grant]

Sleazy people gravitate toward sleazy people and ethical people gravitate toward ethical people - whether in business or private life, it applies.

Ethical clients want MV seeking appraisers, and slimy clients want number hitters. The bad appraisal mills trained the number hitters because an appraiser who did not want that would leave the puppy mill. I did, I was hired buy a sleazebag owner of a mill when I first started and left after two weeks. I found two great trainers who ran a smaller shop, both SRA's one a cert gen I was fortunate but also

Not all volume shops meant bad training or slime, I also worked several months for an ethical appraises who gave good training and he had a number of trainees and cert working for him - it was too factory like for me but nothing wrong going on there at all - the owner/ appraiser just had the energy and organization to do it

Some years ago the number of trainees was capped at 3 per mentor and that eliminated the problem of the puppy mill shops -

 

[glenn walker]

Now thankfully we have the AMCs as the ethical gate keepers and the mill shops are mostly gone. See thing's do get better with good enforcement of Dodd Frank.

 

[glenn walker]

Sleazy people gravitate toward sleazy people and ethical people gravitate toward ethical people - whether in business or private life, it applies.

Ethical clients want MV seeking appraisers, and slimy clients want number hitters. The bad appraisal mills trained the number hitters because an appraiser who did not want that would leave the puppy mill. I did, I was hired buy a sleazebag owner of a mill when I first started and left after two weeks. I found two great trainers who ran a smaller shop, both SRA's one a cert gen I was fortunate but also

Not all volume shops meant bad training or slime, I also worked several months for an ethical appraises who gave good training and he had a number of trainees and cert working for him - it was too factory like for me but nothing wrong going on there at all - the owner/ appraiser just had the energy and organization to do it

Some years ago the number of trainees was capped at 3 per mentor and that eliminated the problem of the puppy mill shops -

How do you know your clients ethics ? That's just crazy talk. Corporations and LLCs don't have morals and Ethics.

 

[J Grant]

How do you know your clients ethics ? That's just crazy talk. Corporations and LLCs don't have morals and Ethics.

I am not talking about big corporations (though some can be more ethial than others - they are run by people after all)

But smaller businesses, and companies, if we work for them esp in a close owner or manager relationship like a trainee, it is pretty easy to figure it out
The sleazy puppy mill shop, that guy did not waste any time - I came in so called "low " ( it was the MV ) on a property and he wanted me to use comps outside the area that were superior - on an inspection we could not get in and his solution was to break a window and crawl in - I kid you not. He acted all hyper like he was on crack or something There were about 10 trainees there and they all looked miserable. I left after 2 weeks ( am sure others did as well ) , yet others stayed - we all took the same appraisal courses to pass the test and had the same USPAP material.

 

[alebrewer]

Ethical clients want MV seeking appraisers

If you find one of those unicorns, let me know.

 

[J Grant]

If you find one of those unicorns, let me know.

They exist - they are not saints but overall want MV and are not pushing for numbers.

 

[alebrewer]

They exist - they are not saints but overall want MV and are not pushing for numbers.

right.... I've heard that rainbows shoot out of Pixies' @$$*$ too, but I've never seen it happen, nor have I ever met a Pixie.

Question:
If this ethical client had the choice of: (1) procuring an appraisal they knew was going to come in low, or (2) getting an appraisal waiver for their borrower, which would that ethical client choose?

 

[J Grant]

right.... I've heard that rainbows shoot out of Pixies' @$$*$ too, but I've never seen it happen, nor have I ever met a Pixie.

Question:
If this ethical client had the choice of: (1) procuring an appraisal they knew was going to come in low, or (2) getting an appraisal waiver for their borrower, which would that ethical client choose?

Made up scenarios - WAIVERS are new and nothing unethical about the lender ordering one if the borrower agrees to it - IMO the WAIVER product is slimy but that is not the lenders fault.

Ethical lenders do not push for value, they might question a low value but if the UW sees the appraisal is solid they accept it - they might have a different investor pool and this offer certain rates or products or UW loans to other lenders - I am not in their offices and not privy to their internal decisioon making.

 

[alebrewer]

Made up scenarios - WAIVERS are new and nothing unethical about the lender ordering one if the borrower agrees to it - IMO the WAIVER product is slimy but that is not the lenders fault.

Ethical lenders do not push for value, they might question a low value but if the UW sees the appraisal is solid they accept it - they might have a different investor pool and this offer certain rates or products or UW loans to other lenders - I am not in their offices and not privy to their internal decisioon making.

You didn't answer the question...

 

[J Grant]

You didn't answer the question...

I did answer the question and the question is silly. A waiver is not unethical !! So why is that a litmus test about client ethics?
A borrower decides if they want to accept a WAIVER, not the lender - unless a lender has a policy against using WAIVERS - if that is true, perhaps the lender needs to disclose that to a borrower.