Phil Crawford Podcast

[George Hatch]

Backpedal? It wasn't unkind or unethical for me to look and it wasn't unethical for me to post an exhibit that clearly shows reason to question the conclusions. ANY reviewer would have kicked that back to the appraiser to put some more work into their analysis.

The data cancer talking point is in need of a more persuasive poster child. I'm 100% positive that someone has a better example. Maybe dozens of them. There's no such thing as "never" in the RE business.

Opinion to be developed > assumption to be making

 

[Bill75]

He may be right on the real estate agent side. If that waiver is way off, the lawyer could go after everybody in the chain in the transaction on behalf of the consumer.

The lawyer would start with GSE, go to lender, go to agent. The lawyer would sue all three and hope at least one of them stuck. The lawyer would need a professional appraiser or two or three.

I know several real estate agents that are also real estate appraisers. They know better than to mix those caps together. They don't want to mix appraisal and sales agent professions together.

NAR is probably watching and Idk how NAR will react.

Appraisers don't really have a unionized voice.

NAR already did react with their letter from the CEO

 

[TerryRohrer]

Boots on the ground appraisers don’t have many friends and advocates, and even less who use their pulpits to bring to light issues that affect us. Phil is both.

A friendly dive into the data is one thing, and I’m sure he expected and hoped for feedback. But he didn’t deserve to be drug through the mud especially given the age old “Line up 5 appraisers and you will get 7 opinions” adage. In the end we are worse off for not extending a little professional grace toward a friend and advocate.

I don't have a dog in this hunt, and neither GH or PC need any help expressing their opinions, but one has to be looking to be offended to see George's post as dragging anyone in the mud.

Phil made a poor case based on one sale and didn't complete his analysis before crowing in public about a smoking gun. That case is even weaker with a few rudimentary, publicly available facts. Rather than have a discussion, he blew in here like he is somebody to be reckoned with, intent on offending as many as he could, and succeeded. Then doubled down in his next, even more vacuous podcast.

While waivers and their use are worth arguing about, they are a policy issue, not an appraiser issue. If appraisers as a group start lying about analytical results where none exist, we will lose far more credibility than by simply failing to pay homage to one self-appointed blowhard.

 

[gregb]

We all have a dog in the hunt to make the appraisal profession a viable enterprise. Maybe there is no future, or a limited future, time will tell. Both Phil and George have contributed to the general enterprise, while neither alone can hoist or solve the burdens that face the profession. While the times are changing, there are new politics seeking reform, so very personally ready to see what comes.

 

[Zoe]

These waivers will bite. The origin of the waiver is from a biased party(s).

The bite will come from the homeowner, a/k/a John Q. Public. They won't be choosy on who they bite.

 

[Zoe]

George DOXINE Hatch...bwahahahahahahahahahaha Have to admit it wasn't very professional doxing him like that. Certainly hurts your credibility as being the man and now appear more like the creep. Hopefully that is not how you are remembered.

Doxing is an interesting term. I studied it a little. Very little but it is an interesting term.

You taught me a new word.

 

[Fernando]

Been too busy finishing my appraisal report. Just listened to the podcast first time.
Is PC for waivers? What is the waiver about? It's only 1-2% usage.

 

[Zoe]

Been too busy finishing my appraisal report. Just listened to the podcast first time.
Is PC for waivers? What is the waiver about? It's only 1-2% usage.

With all due respect, it is deeper than that Sir. Look at it from a macro economic standpoint vs a micro economic standpoint and the parties involved.

 

[J Grant]

Been too busy finishing my appraisal report. Just listened to the podcast first time.
Is PC for waivers? What is the waiver about? It's only 1-2% usage.

Are you misinformed?

1-2 % is the predcite`d increase DW gave for expanding the purchase waiver into 90% -97% LTV, - it sounds absurdly low - why would they expand a program to gain such a small increment, and how is it measured -1-2% of what?

Waivers - who knows what total percent of loans they are today? why isn't that number made clearly available?If it is such a great mitigation reduction program, wouldn't they want the figures out there? They don't publish them. The AE does - where does the AE get its data- why is it all so consulted and secret.
I recall seeing 20-40% of refinances and 15-30% of purchases, per some prior charts - I suspect the actual numbers are higher.

 

[chad hampton]

The example Phil used is what is happening all over her country. It’s pretty clear to anyone with an understanding of the process that these sales with waivers juice the market. I provided an example in my backyard from a waiver in late 2023. Didn’t go into the extensive detail Phil did, but you can spot possible waiver sales all over the place if you’re looking.

I suspect things are even worse than we think.