• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

The Noose is Hung…

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Well, of course. It's not their money they are lending, so of course, they don't care. Try that with a hard-money lender.
In my experience, hard money lenders care about the reasonableness of the outcome, not the technical aspects of the appraisal process. Portfolio lenders care a bit more about the process, but the main reason for that is due to their regulatory supervision.

Your perspectives on that may vary.
 

Mejappz

Senior Member
Joined
Dec 16, 2005
Professional Status
Certified Residential Appraiser
State
Florida
If a check box isn't read, did it make a sound?

Nice try-- but you didn't answer my question. If an appraiser checks stable when the market shows it is clearly increasing or declining, is that misleading? Yes or no.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
It's an error, alright. But was the error the result of laziness or incompetence? 'Cause that's the question at hand when trying to jam the lenders for using appraisers you don't like.

At any rate, maybe you need a class action lawsuit on behalf of the appraisers who decline to work for AMCs and filed against the lenders for using AMC appraisers. I mean, it's not like that's an obviously stupid idea that would be a complete waste of time or anything.

Every one of those lenders could go to direct engagement tomorrow. If that's what they wanted to do.
 
Last edited:

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
I love this quote from the AB post -

"Well, none of these “tricks” are working. Appraisers are just laughing at the AMCs. Don’t believe me? Just read the posts in the appraisal groups."

I can say with absolute certainty that there are many "Internet heroes" whose social media posts don't reflect their actual behavior. When I worked at an AMC it was VERY common for me to see posts by appraisers active on our panel but claiming all over AF and FB that he/she did not work with any AMCs. Lots of claims of "I won't do ANY assignment for less than $X - but then they set up their own fees with the AMC at ($X-$150). It was quite entertaining.

The actual data is not showing any appraiser movement away from AMC work.
100% correct.
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
The guest author is wrong about D-F not allowing appraisal staffs, but other than that their opinions are common among appraisers.
To be fair, he wrote " Some have hired staff appraisers, completely disregarding the intent of Dodd Frank..." I don't take that as "not allowing" but as an arguable point regarding intentions or the spirit of DF.
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
I love this quote from the AB post -

"Well, none of these “tricks” are working. Appraisers are just laughing at the AMCs. Don’t believe me? Just read the posts in the appraisal groups."

I can say with absolute certainty that there are many "Internet heroes" whose social media posts don't reflect their actual behavior. When I worked at an AMC it was VERY common for me to see posts by appraisers active on our panel but claiming all over AF and FB that he/she did not work with any AMCs. Lots of claims of "I won't do ANY assignment for less than $X - but then they set up their own fees with the AMC at ($X-$150). It was quite entertaining.

The actual data is not showing any appraiser movement away from AMC work.
That is so true. I recall a “peer” who is somewhat of a zealot in many ways. He used to talk nonstop about how bad AMCs were and anyone who did business with them is a disgrace and should be ashamed, etc. . Anyway, one time I got an email from a well known AMC requesting bids on an an assignment, in typical AMC fashion, they sent the email to about a dozen members of their panel and guess whose name and email were visible in that email? The one without sin. He went into major damage control, he sent emails to every other appraiser on that list saying he was in their system because he once did a complex assignment for them for a fee that was 4 digits. It was a nice try on his part, much like the thumper who is spotted in the liquor store and says he’s buying ingredients for homemade cough syrup. :cool: I have no love for the AMC model, but the fact is there are many markets in the US where one must accept some of their work or go out of business. I refuse to boycott something that occasionally benefits me merely to make some internet jackass approve of me. If I get a message from an AMC that says they will pay the fee but they’re losing money, that’s not a bad thing, at least it isn’t for me.
 
Last edited:

Zoe

Senior Member
Joined
Sep 15, 2020
Professional Status
Certified General Appraiser
State
Tennessee
That's one reason many people quit private practice and went to work for others. They could make more money than have their fee split with an AMC. Many licensed and very professional appraisers changed occupations all together. They had a college degree or other experience and just said I quit this BS.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
To be fair, he wrote " Some have hired staff appraisers, completely disregarding the intent of Dodd Frank..." I don't take that as "not allowing" but as an arguable point regarding intentions or the spirit of DF.
You're right - it was "completely disregarding the intent". My bad. But the idea that there was ever any intent in D-F for lenders to not operate or maintain internal (non-AMC) appraisal staffs is still in error.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
Do we get any "last words" before they put the hood on us?
At least they got the point about the title of the piece and removed the unfortunate reference to the noose. That's one faux pas that won't blow up on the pages of some "race relations and social justice reporter" column in the news.
 
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks