Publish Appraisal as Public Record??

[Aubrey Williams II]

I want to make a wager no one will accept. You people that think this is a good idea, why not post your last appraisal on this forum and let us take a look at it?

Thread closed.....end of discussion. :new_all_coholic:

Bullseye! I can't wait to see how many so called 'experts' here would do this.

 

[Austin]

"I want to make a wager no one will accept. You people that think this is a good idea, why not post your last appraisal on this forum and let us take a look at it?"

I will take you up on that Austin. I just finished a 1,614,000 square foot hospital for a court case with a retrospective value of November 11, 1998. It is nearly 20 megs with the addendum. I hope you have a large cup of coffee

Interesting response. So far we have one taker who agrees to post one of his appraisals with the hypothetical condition that it is impossible to do so due to the the amount of memory allowed for posting pdf's on this forum. In other words: I accept your challenge Austin but due to technical limitations I can't do it. Roundabout way of not accepting the challenge.

 

[Mike Kennedy]

While it may be an effective tool for deterrance and humiliation, I doubt it will make a significant impact on improving appraiser conduct. It would also be difficult to adopt a policy of full disclosure while respecting the spirit and regulations of confidentiality.

There really needs to be a system like this on mortgage companies, appraisers and builders. If people had a site they could go to that exposes a broker or banks misconduct, overstating of value (underwriting-appraising), complaints and sanctions all in one place, that would make a huge dent in unethical practices by appraisers and lending institutions.

Contrarian view: effective federal and state prosecution including immediate mandatory license revocation for documented mortgage appraisal fraud and appraisal fraud in all appraisal cases (after appropriate hearings/trials) solves the problem. Any measures short of that - wasted effort.

 

[Stephen J. Vertin MAI]

"Contrarian view: effective federal and state prosecution including immediate mandatory license revocation for documented mortgage appraisal fraud and appraisal fraud in all appraisal cases (after appropriate hearings/trials) solves the problem. Any measures short of that - wasted effort."

Mike:

Are they not already doing this?

Austin:

First I am not a true supporter of the idea. If you read my post I think it has flaws; however, I can split my hospital report up into sections and e-mail it to you anyway. I could use the free review

Steve Vertin

 

[Fred]

It is nearly 20 megs

Steve V.
Remember when we used measure report volume in page numbers?
I would gve you a free review to offer constructive criticism any time.
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How many in this thread are appraising long enough to know that the current system - licensing, USPAP, and state enforcement agencies - was supposed to be the cure for widespread massaged appraisals, because the organization supposedly couldn't police their own?

It is my opinion that on a national basis lender pressure is worse now, and more effective than it was before FIRREA. Publishing reports is a silly idea that will never come to pass.

effective federal and state prosecution including immediate mandatory license revocation for documented mortgage appraisal fraud and appraisal fraud in all appraisal cases (after appropriate hearings/trials) solves the problem. Any measures short of that - wasted effort.

Even that may be wasted effort until someone can draw a line that Austin and I put some effort into locatng on the forum; the line between: it's an art not a science, and difference of opinon VERSUS Skippy and outright fraud.

One of my first posts was a challenge to George Hatch to use USPAP to explain that a 1,000 percent line adjustment in a condo appraisal was a USPAP error.

 

[George Hatch]

How did I get dragged into this? I'm not in favor of posting appraisal reports in the public domain. A simple 1-line database of who did what where would make it easier to find the multiple appraisal situations and to perhaps spot patterns. I mean, a single signatory wouldn't be able to justify their "did inspect" on 10 properties in different areas of the state on the same day any more if that information was readily available. It would make it easier to spot signature fraud, too.

But posting entire appraisal reports for public viewing? No way.

 

[Fred]

George,
I could have said - a hypothetical knowledgeable appraiser, well versed in the standards of practice - but it was easier to type your name.

Just wondering, on a scale of 1-10, how serious of an infraction is it for the supervisory appraiser to put that s/he inspected, when the work was done by a trusted associate? Is that worse than someone who actually does the inspection and stretches the value?
(And before I get accused of dragging anyone else, I am not referring to anyone in this thread).

That's the problem with all this enhanced enforcement - the state boards are not any more accurate than a Hezbollah rocket. I am reminded of the old Tom Lehrer song about Werner Von Braun, "Once the rockets go up, who cares where they come down? That's not my department."

I remained totally unconvinced, for the same reasons that accidentally dragged George's name in, that the state boards can conduct surgical strikes without collateral damage. I used to read state board notices, but not any more. I saw one this year and the narrative report was found in violation of USPAP because the sales were not in grid form. Who believes the boards know USPAP?

 

[Stephen J. Vertin MAI]

Steve:

I appreciate the offer for reviews. That is very kind.

"I saw one this year and the narrative report was found in violation of USPAP because the sales were not in grid form. Who believes the boards know USPAP?"

That is a real problem with people being appointed due to their political connections. They have a wide variety of experiential differences. I also see many appraisers who review issues who believe they are actually editors rather than reviewers. In other words many are more concerned with format as opposed to content.

The issue of whether or not these boards are affective has been discussed numerous times on the forum but as time goes by, it appears obvious to me many slam people for minor infractions, in an attempted to show how tough they are, while allowing major players to run free. I do not get it and I believe there are alot of other appraisers who do not either.

Steve Vertin