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Race to the bottom?

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Squareitup

Member
Joined
Aug 9, 2007
Professional Status
IT Professional-Appraisal Related
State
District of Columbia
Talk of some businesses going under due to the mortgage and credit crisis was going on months ago, in anticipation. Now it's time for it to get adjusted to and inked. No big deal. The process will look much better by late 2008. No bad recession, just slowing down to fix problems. Looks like Countrywide took nails in the boot. Zaio is still in canvas sneakers, which may be a saving grace in this correcting market. Someone should buy them out if they have something as valuable as they keep claiming their lender advisors say they have. It seems their current leadership/system can't make many sales of the Zaio 2055 year after year, and factors associated with "why" need resolution. At some point the water has to be cleaned and oxygenated or the fish die. Zaio has been at this game for several+ years now and makes big claims about what the prospective clients say, so here in early 2008 I think everyone just wants them to shut up and do something for the sales column (and send paychecks to the appraisers). A proper buyout might be exactly what the zookeeper ordered. :clapping:
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
So does that mean we will be paid for those outstanding Countrywide invoices?
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Get your past-due notices in now.
 

Elliott

Thread Starter
Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Well BofA inked the deal, bought CW with stock. The mortgage/
subprime mess reminds me of musical chairs. As long as the
music played, everyone was having a good time. But when the
music stopped a few chairs were taken away, the subprimers
and derivatives pros came up short. I wonder what lesson
was learned?
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Get your past-due notices in now.


That will at least get you in line for the Bankrupcy Notices when they send those out.

Lots of luck if they owe you money.

Can we start to say that all appraisal orders reguardless of who places the order should be CAD now? If you can't trust the big banks and lenders who can you trust to pay the bill?
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
I hope every Appraiser that has done work for these guys get STIFFED.
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
I hope every Appraiser that has done work for these guys get STIFFED.

With the fees they offer in my market, I agree with you.
 

Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
I am amazed at the fact that people in this forum would wish bad things to other in the profession. I think that this only adds to the fragmentation of the industry. If I was the moderator, I think that at a minimum I would suspend people who make these kind of statements. Who I do work for and what I charge is my business, period. Why didn't the poster just say I hope that they get cancer and die work for XYZ company. To wish bad things to people because of who they do work for and what they charge just not right.:angry:
 
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