The Appraiser Shortage Myth Part 43

[timd354]

And is it not logical that in months with more work the result is the use of more appraisers?

It seems pretty logical to those people who are not immune to logic or who are not completely blinded by their hatred of the GSE's.

 

[J Grant]

https://www.housingwire.com/blogs/1...ppraisers-next-year?eid=387508289&bid=1851004

Finally, the truth is stated in an article-noted in one paragraph " high volume lenders and AMC's are preying on low fee appraisers," They factor in the increased hours now spent on a report with UAD compliance and SOW to conclude that effective appraisal compensation has decreased 77% since 2003. It does mention that if appraisers accept the low fees the situation will continue. Which always comes back to why are a segment of appraisers "accepting" low fees- because they are preyed upon as the article describes. Of course appraisers don't have to work for AMCs and many don't and many refuse lower fee work: which still does not negate the fact that keeping tax payer backed appraisal orders hostage to this system is insane. .

If will be ironic if the bottom feeder AMC's feel the pain when appraisal waivers reduce their volume and they are not needed to provide alternate valuation products.

 

[DWiley]

https://www.housingwire.com/blogs/1...ppraisers-next-year?eid=387508289&bid=1851004

Finally, the truth is stated in an article-noted in one paragraph .....

Well. That settles that. I mean, HW has NEVER published anything that was less than 100% accurate.

 

[djd09]

Well. That settles that. I mean, HW has NEVER published anything that was less than 100% accurate.

Denial is the first sign of a problem.

 

[Meandering]

All appraisals submitted to Fannie and Freddie include the individual appraiser's name and license/certification number, so it is very easy for either GSE to know exactly how many appraisers performed an appraisal that was submitted to them in any particular time period

Well thank you.
Now I know something I did not know before.

Want to discuss the difference between a shortage caused by attrition and one caused by purposeful limitation?

This "shortage" crying is going to cause far more pain to AMCs and those that rely on volume, more than anyone else. Especially when the RESPA update becomes effective next October.

.

 

[Meandering]

so now you are using a poll on a message board as a basis for facts? the numbers worked for you when you quoted $300 per assignment but suddenly are not worth anything when the per order rate is higher. pick a side.

Do you see my name attached to that poll anywhere?

Or are you just used to having someone else tell you facts, so you expect they are the ones that made up those facts?

And were did I say $300 was a fact?????

.

 

[Evincere]

And is it not logical that in months with more work the result is the use of more appraisers?

not necessarily logical if the same # of appraisers are just doing more volume. ie the cow states for example. The #'s of appraisers hasn't increased (shortages!) but their work loads have increased.

 

[Meandering]

And is it not logical that in months with more work the result is the use of more appraisers?

Not if there is a "shortage", which is what Fannie is trying to say.

But thanks for also pointing out the logical flaw in Fannie's "proof" of an appraiser shortage.

..

 

[Evincere]

https://www.housingwire.com/blogs/1...ppraisers-next-year?eid=387508289&bid=1851004

If will be ironic if the bottom feeder AMC's feel the pain when appraisal waivers reduce their volume and they are not needed to provide alternate valuation products.

They could make a transition and incorporate those alternate products into their offerings but for sure, there will never be enough cream off the top to cover their overhead.

Would advise all appraisers to start keeping both eyes on their receivables. It should be obvious that Axis is worried about it based upon the email blast sent to their appraiser roster

 

[DWiley]

But thanks for also pointing out the logical flaw in Fannie's "proof" of an appraiser shortage.

..

The biggest "flaw" is the use of national data to examine a localized issue. Using national appraiser stats to look examine the issue is like using national housing data to determine if there is a housing shortage in Nashville.