Revision Requests -having To Explain Peer Appraiser's Data In My Reports?

[Adios]

You don't have to like the fact that regulators and people at the GSE's respect and listen to Joan, but that is the way that it is.

By the way, I doubt that Joan was shown any appraisals, she was probably shown or told about the data/CU reporting that shows that in some cases the same appraiser is changing information regarding the same comps that are being used in different appraisal reports

Exactly.

 

[Adios]

You don't have to like the fact that regulators and people at the GSE's respect and listen to Joan, but that is the way that it is.

By the way, I doubt that Joan was shown any appraisals, she was probably shown or told about the data/CU reporting that shows that in some cases the same appraiser is changing information regarding the same comps that are being used in different appraisal reports

Exactly.

Joan is not a regulator, but like it or not Joan is very well connected in DC and a lot of people who matter (including regulators) respect her and listen to her opinion on certain matters.

Marion,

You too can do exactly as I do. I ask people if I can meet with them. I attend meetings to listen and learn and put myself in situations where I can meet with those who matter. I am very fortunate to have the ear of some influential people. It is a real privilege and honor to have this opportunity.

Feel free to reach out to your legislators. I recently met with a MD Congressman and a local Md Delegate. I am a constituent. You all can do exactly the same and I encourage you to do the same.

 

[Meandering]

I've already had that dance Joan. Remember?

Time for others to get their feet wet.

But again,

Why are regulators sharing specifics about any appraisal with you?

Who else are they discussing appraisal reports with? Is this something we should shut the door on before more headline news happens when borrowers find out?

And that paper, ASA and NA whoever.

.

 

[Adios]

I've already had that dance Joan. Remember?

Time for others to get their feet wet.

But again,

Why are regulators sharing specifics about any appraisal with you?

Who else are they discussing appraisal reports with? Is this something we should shut the door on before more headline news happens when borrowers find out?

And that paper, ASA and NA whoever.

.

They did not share any appraisals. They used an example of 101 Rosebud Street. Just like every appraiser does on this forum. Don't be ridiculous.

 

[Meandering]

They did not share any appraisals. They used an example of 101 Rosebud Street. Just like every appraiser does on this forum. Don't be ridiculous.

So you're using gossip to spread stories of doom and gloom about appraisers making up stories in multiple appraisal reports Joan?

Do we now have that final admission, that there is no evidence of your claims, there is only gossip?

Where is the published sanctions against said appraiser for said transgressions?

 

[Adios]

So you're using gossip to spread stories of doom and gloom about appraisers making up stories in multiple appraisal reports Joan?

Do we now have that final admission, that there is no evidence of your claims, there is only gossip?

Where is the published sanctions against said appraiser for said transgressions?

Hardly. Had you been to Valuation Expo you would have heard Bob Murphy share even more specifics. Zach Dawson, the new chief at Fannie will be at Valuation Expo on July 11-13. If you want to hear it directly from the guy who developed CU then perhaps you will understand better. We can ask him to speak slowly just in case you have a comprehension problem.

Your insistence on despising me has eroded your ability to listen or learn. Continue to shoot the messenger but pay attention to the message.

 

[Meandering]

Sadly for you Joan,

If you're waiting on me to do anything that will put a penny in your pocket,

you're going to get very old waiting.

.

 

[Meandering]

Your insistence on despising me has eroded your ability to listen or learn. .

You keep believing in that one.

Continue to shoot the messenger but pay attention to the message .

I already know what the message is, and no one had to number the paragraphs for me.

.

 

[Mr Rex]

Joan has been working on white papers for years.

 

[Mike Kennedy]

I've noticed a big uptick in initial "quality control" commentary that is asked for and one of my few "good" clients must have had some sort of team meeting/company mandate about indirectly trying to put a little more pressure on appraisers when the value is below the contract price. Several value reconsideration requests lately.

I have a very large bank, non AMC, whose reviewer recently tried to talk me into lot size adjustments for 5,000 versus 6,000 SF, because it hit some magical 20% button(came in 4k below contract and they said that could "make it up"). Not going to be a measurable market reaction for that in this market. Yesterday the same bank came back on another deal, very small home with terrible comp selection, telling me that I should use two area comps that are 50% larger than the subject and adjust down because they have a 2 car garage like the subject and the 2 car garage must be the driving feature of the home...2 of the 5 comps had the garage and the ones with carports were adjusted for...Smoke and mirrors is where they are basing their arguments on, smoke and mirrors.

"large bank, non AMC, whose reviewer recently tried to talk me into lot size adjustments for 5,000 versus 6,000 SF, because it hit some magical 20% button(came in 4k below contract and they said that could "make it up")."
the Contract Price Bull$eye lives............on and on ............ p.s. instructing an Appraiser to make unsupported site adjustments OR utilize sales that are 50% larger and adjust down - is Coercion.